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June 18, 2020

Dreams Deferred: Big Mixed-Use Projects Waiting At The Starting Gate

[Webinar] Will More Mixed-Use Developments Be Spreading Into Atlanta's Suburbs? Find Out At Atlanta's Mixed-Use Reboot: How Atlanta's Hottest Asset Class Is Faring During the Coronavirus Pandemic June 25

The Integral Group was gradually moving forward on The Assembly, a big mixed-use project on the site of a former General Motors plant overlooking Interstate 285 in Doraville, just north of Atlanta.

The Atlanta developer already built Third Rail Studios, a movie production facility where big-budget films like Rampage, starring Dwayne Johnson, were shot. Serta Simmons Bedding Co. recently opened its corporate headquarters there. 

Dreams Deferred: Big Mixed-Use Projects Waiting At The Starting Gate

The next step was for Integral to sell a couple of parcels to developers for an apartment complex and a boutique retail center. Then the coronavirus pandemic hit.“We did have some delays in a couple of closings because of the crisis,” Integral Group Chairman Egbert Perry told Bisnow this week. Those…

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CoStar Group's acquisition of digital auction platform Ten-X last month has ruffled some feathers in the brokerage industry. Cushman & Wakefield CEO Brett White, speaking Wednesday on Walker & Dunlop's Walker Webcast, expressed concerns that CoStar is positioning itself as…

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Restaurants Scramble To Make Outdoor Dining Safer

Al fresco dining was once mostly a pleasant afterthought for American restaurants, but with sales losses estimated at $120B during the first three months of the coronavirus pandemic, outdoor seating is now a key component of keeping some eateries alive.

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Banks Shaking Off Lending Cobwebs, Starting With Multifamily

 

NEW YORK CITY — Through March and April, the institutional lending market was all but frozen. But as New York City prepares to enter Phase 2 of its reopening, the frost is cautiously thawing. Lending output has increased, showing signs of new life in the market as the city rolls into the summer.

Over the past month, brokers have seen more interest from banks in placing loans, they told Bisnow. Where they have decided to put their financing gives insight into the safest asset classes to come out of this unprecedented event, multifamily top among them. 

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As Diversity Takes Center Stage, Service Workers Push For Better Wages, More Protections

 

As civil unrest and inequality rivet the nation, America's largest union of building maintenance workers is pushing for higher wages and better protections.

Tuesday was "Justice for Janitors Day," the anniversary of a 1990 incident in which protesting janitors were beaten by Los Angeles police. The event sparked union membership and eventually, reforms.

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Alternative Lenders On Bank Slowdown: 'This Is Our Super Bowl'

Bank lending to commercial real estate is still moving at a snail's pace, so it will fall to private lenders to come up with creative financing solutions as the coronavirus continues to wreak havoc on the economy. 

"Banks are not known to innovate, that's not what they do," Dan Palmier, the founder and CEO of Boston-based alternative lender UC Funds, said on Bisnow webinar last week. "This is our Super Bowl."

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Already Stressed CRE Prepares For This Year's Power Shut-Offs

CALIFORNIA — Already shaken by a pandemic and recession, California commercial real estate is nevertheless still prepared for fire season power blackouts.

Fewer people may be affected this year. Since the last of Pacific Gas & Electric Co.'s fire-preventive power shut-offs in November 2019, the utility company says 2020 shut-offs should reduce the number of customers affected by a third, according to PG&E spokesman Jeff Smith.

But with many people now working from home, and fewer places where they could work remotely open, the pressure on California to maintain a steady power supply is growing.

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