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July 1, 2021

D.C.'s Waterfront Businesses Are Zooming Ahead Of The Recovery Pack

[In-Person] Real Estate Roundtable CEO Jeff DeBoer Unpacks How Biden's Tax Policy Can Impact CRE Aug. 4

As the summer weather and vaccinations are bringing people back to hotels and restaurants, neighborhoods that have large open spaces along the water are benefiting the most. 

D.C.-area waterfronts such as The Wharf, Capitol Riverfront, Georgetown, National Harbor and Old Town Alexandria have all experienced a surge in activity this spring and early summer. Developers, restaurateurs and economic development leaders from each of these areas, speaking Wednesday on Bisnow's Waterfronts: Leading The Washington Region's Recovery event, shared what they are seeing in their respective neighborhoods. 

Waterfront Businesses Are Zooming Ahead Of The Recovery Pack

Knead Hospitality + Design founder and principal Jason Berry owns several restaurants on the waterfront: Mi Vida and The Grill at The Wharf, Succotash at National Harbor and new Capitol Riverfront restaurants Mah-Ze-Dahr and The Gatsby. His waterfront restaurants have all experienced a strong resurgence of…

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Museum Signs 28K SF Lease At Bethesda Metro Center

Museum Signs 28K SF Lease At Bethesda Metro Center  

A children's museum will nearly quadruple its footprint with a new space next to the Bethesda Metro station.  Brookfield Properties announced Wednesday it signed a 28K SF lease with KID Museum at 3 Bethesda Metro Center. The museum plans to begin construction this summer and open…

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EB-5 Program Expires, Throwing Industry Into Uncertainty

EB-5 Program Expires, Throwing Industry Into Uncertainty  

The EB-5 regional center program, which has existed almost continuously for about 30 years, has been plunged into high uncertainty as the deadline for its renewal — the end of June — has passed, with the prospect of movement on its revival at least two weeks away.

"The uncertainty is really the most worrisome thing," Invest in the USA Executive Director Aaron Grau said. "As to what's going to happen next, I don't know. No one does. It's worth pointing out that in the past, the program has lapsed only because it was tied to the appropriation bill whose later passage was almost certainly assured. This time around, that isn't the case." 

In other words, Grau said, EB-5 is entering uncharted territory. 

"It's very much a different animal than the lapses that we'd experienced before," he said. "And so there's a lot of worry among investors about what happens to their place in line or in seeking their green card application." After a measure to renew the program didn't advance in the Senate in…

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Virtual CRE Tours, After Mass Adoption, Face Fight For Relevance Post-Covid

 

When the coronavirus restrictions froze almost every aspect of dealmaking — from travel to in-person tours — the real estate industry scrambled to find alternatives to keep business going. Many of those alternatives came in the form of advanced technology, with developers, property managers and proptech firms alike plowing time and money into creating new technologies to allow clients to keep looking at assets to buy and space to rent.

As the pandemic slowly begins to recede and restrictions ease, doubts have emerged as to whether these offers will stand the test of time. Some commercial real estate players consider them a vital part of the business that is here to stay, but others think their shelf life is limited.

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