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May 11, 2020

Bethesda Developer Becoming More Active With New CEO, 1,100-Unit Redevelopment

A Bethesda family real estate company, which was founded just after World War II and has spent decades collecting rent and maintaining a series of 1950s-era apartment buildings, is trying to move into the spotlight after nearly 80 years in the background.

Bethesda Developer Becoming More Active With New CEO, 1,100-Unit Redevelopment

Brown Development, previously known as Aldon Management, in recent years formed a new board and hired a new CEO as it began to chart a redevelopment strategy that would keep the business going for decades to come.Todd Bowen, previously a senior vice president at Kettler, came on as…

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Cove Shifts Flexible Office Platform To Prepare For Returning Tenants

Cove Shifts Flexible Office Platform To Prepare For Returning Tenants

Cove, a D.C.-based workspace company that began with small, shared office locations before pivoting last year to partner with building owners, is now preparing for tenants returning to their offices.The company last week launched two new software platforms as part of its mobile application to help tenants and building owners return to…

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‘This Is The Moment’: Tenant Advocates Look To Use Economic Pain To Make Gains

While a feared collapse — or a mass strike — in residential rent and mortgage payments didn't materialize this month, housing activists plan to keep the pressure on all levels of government to cancel monthly housing payments until the coronavirus pandemic has subsided.

With millions of low-income workers suddenly unemployed — and the prospects of an economic turnaround depending on the unknown course of a pandemic — a chronic U.S. housing affordability problem has morphed into an acute housing crisis. Now is the time for unprecedented action, activists told Bisnow

"We've been able to pass huge stimulus packages, so this is the moment when it's legitimately possible [to] protect the most vulnerable renters and homeowners," Action Center on Race and the Economy co-Executive Director Maurice BP-Weeks said. "It isn't just an activist's fever dream."

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'A Waking Nightmare': Economists React To April Jobs Report On Twitter

One month after the country saw its longest streak of monthly job gains in U.S. history end at 113 months, nonfarm payroll employment fell by 20.5 million jobs in April, the U.S. Bureau of Labor Statistics reported Friday.

The unemployment rate is now at 14.7%, an increase of 10.3 percentage points in one month.

Construction employment decreased by 975,000 jobs in April, and retail trade jobs declined by 2.1 million. Retail trade employment reached its peak in January 2017, but the industry has since lost 2.4 million jobs.

After losing 499,000 jobs in March, the leisure and hospitality industry lost almost 7.7 million jobs in April. Food services and drinking places accounted for 5.5 million of those lost jobs, a 46% drop.

Prior to March, the largest-ever one-month drop in the leisure and hospitality industry was 83,000 jobs in August 1989.

Click here to see how economists and others reacted to the April jobs report on Twitter.

 
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CRE Hiring A Mixed Bag As Industry Retrenches

 

When it comes to hiring, the commercial real estate industry is experiencing a mixed bag, with some sectors suffering and others on the upswing.

Job posting data nationwide on employment search engine Indeed.com has found that active job listings in hospitality/tourism and banking/finance have dropped from the middle of April last year to mid-April this year by 64% and 40%, respectively. On the other hand, property manager positions are expected to increase.

Active job postings are a good indicator of activity in the current labor landscape. 

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My New Normal: MVE Partners President Matthew McLarand

This series aims to capture a moment in time, talking to men and women in commercial real estate about how their lives and businesses are being transformed by the coronavirus pandemic.

These days, when Matthew McLarand isn't working with his team on designing skyscrapers and mixed-use projects in California, he's catching his son's fastballs in the backyard or helping his daughter practice ballet in the living room.

McLarand is the president and director of design at MVE + Partners, an architecture, design and planning firm based in Irvine.

Read the full story here.

 
 
 
       
 
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