Public infrastructure has long been financed through direct government budgetary appropriation, grants, and government borrowing. The long-term debts have typically been repaid from revenues generated by the asset through user charges, or from the general taxing power of the government. With an increasingly high demand for infrastructure investments, and limited resources to achieve them, other… Continue Reading The Need for Land Value Capture in Infrastructure: the case of the Tappan Zee Bridge
Last month, California Governor Gavin Newsom scaled back the California High Speed Rail (HSR) planned from Los Angeles to San Francisco due to budget and time overruns. The trimmed-down line will now run from Bakersfield to Merced – which was previously the Initial Operating Section (IOS) of the Bay-to-Basin alignment. With due respect to the… Continue Reading California High Speed Rail – Sidetracked, but not the End of the Line
In 2017, Congress established a new community development program known as Opportunity Zones in order to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones designated by… Continue Reading What Are Opportunity Zones and How Can Investors Utilize Them?
Just days after key committees on the Los Angeles City Council backed a new set of short-term home sharing regulations limiting such activity to primary residences and capping short-term rentals to 120 days per year, a report from the Office of the Comptroller of New York quantified the estimated impact of home sharing on New… Continue Reading Short-Term Rental Gain vs. Long-Term Affordability Pain (5 mins)
Beginning December 15th, 2018, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) issued in February 2016 will go into effect, requiring organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The ASU will take effect for public companies for… Continue Reading How FASB’s New Guidance on Lease Accounting Will Affect Co-Working Companies (4 mins)
In a move with wide-reaching implications for the real estate industry, President Donald Trump imposed new tariffs on imported steel and aluminum on March 8, 2018. The tariffs of 25% on imported steel and 10% on imported aluminum have already created strain on international trade relationships, with 24 World Trade Organization countries scheduled to meet… Continue Reading Implications of Trump’s Steel Tariff (5 mins)
Inside the Gulf – Part 1 – This series of articles will explore several major projects taking place in the Persian Gulf countries. Last October the newly appointed Crown Prince of Saudi Arabia, Muhammad bin Salman, announced the development of Neom, a new mega-city along the Red Sea that would cover an area of over… Continue Reading Anti-Corruption Campaign Could Affect Saudi Arabia Mega-Projects (5 mins)
It’s no secret that major cities across the United States – particularly the coastal gateway markets – are facing significant housing shortages for middle- and low-income residents. New York and California are facing the greatest challenges. Of the top 10 least affordable housing markets in the country, three are located in New York (Manhattan, Brooklyn,… Continue Reading Promoting Affordability Through State Regulation of TODs (5 mins)
The second in a series of articles on how changes in port infrastructure and development can impact industrial real estate. To read the previous article in this series, Government Officials’ Shortsighted Port Investment Hampers Industrial Market, please click here. In the age of globalization, the potential impact that rural river ports and intermodal connectivity have… Continue Reading Rural River Ports Must Adapt To Stay Competitive
New York City is undeniably facing a housing affordability crisis. In a recent interview, Jonathan F.P. Rose, founder and president of Jonathan Rose Companies and the Cornell Real Estate Council’s 2017 Industry Leader Award recipient, estimated that New York City has a shortage of 800,000 affordable housing units – equating to 26% of New York… Continue Reading NYC’s Affordability Crisis: Is 421-a Extension the Solution?