NOVEL Stonewall Station by Crescent Communities was recently sold to Lennar Multifamily Communities, a subsidiary of homebuilder Lennar Corp. with its eastern headquarters in Charlotte. The mixed-use community features high-rise and mid-rise residential units, light-rail access, and retail space, including a Whole Foods Market. The community has one of the largest displays of public art in North Carolina. (Crescent Communities)

To gauge the economic vitality of Americas Southeast region, consider one example: the Raleigh-Durham area in North Carolina.

After a lull late in 2018, the area has been adding jobs in dramatic fashion. Payroll employment grew over 4 percent annually in the first and second quartersover twice the state, region, and U.S. rates, says Dante DeAntonio, senior economist at economic forecaster Moodys Analytics in West Chester, Pennsylvania. Job growth has not been this strong in consecutive quarters since 2006. Health care, professional/business services, and leisure/hospitality account for two-thirds of net new 18,000 jobs in 2019.

The strengthening of the Raleigh-Durham labor market is carrying over into the areas single-family housing market. Prices are 25 percent above their peak in 2007, and new construction is at its high for the expansion, with housing starts back up to early-2000s levels and increasing at a well-above-average double-digit rate year over year, adds DeAntonio.

Raleigh-Durham is not an anomaly. Strong economies, healthy job creation, and significant population increases are also being reported across the Southeast, including major cities Charlotte, Atlanta, Miami, Tampa, and Orlando. These metropolitan areas continue to experience dynamic real estate sectors thanks to strong technology, tourism, finance, and other sectors.

That could change in response to unforeseen circumstances, of course. And, like many other areas of the country, the Southeast is also facing numerous challenges ranging from affordability issues to keeping up with new infrastructure that can handle rapid increases in population.But for now, the Southeast is on a roll.

Charlotte is in a lucky geographic place, being an urban center in the Southeast region of the United States, says Jon L. Morris, senior partner at Charlottes Beacon Partners, a full-service commercial real estate firm. The area will certainly have peaks and valleys, but on the aggregate in the next months, years, and decades, the Charlotte MSA [metropolitan statistical area] will experience continued product growth across all asset classes as the U.S. population urbanizes.

Dimensional Place in Charlotte, North Carolinas Wilmore neighborhood was completed in 2019. Duda|Paine Architects designed the 285,000-square-foot (27,000 sq m) building on a 2.3-acre (0.9 ha) site. Dimensional Fund Advisors signed a 15-year lease, taking all the projects office and meeting space. (Robert Benson Photography)

Atlanta continues its stellar economic run, too. Thanks to Georgia Tech (formally the Georgia Institute of Technology) and the areas many other universities, Atlanta is one of the largest technology hubs in the United States.

And few people know that Atlanta is one of the three or four most visited metropolitan areas in the U.S., with 51 million visitors last yearmore than Orlando, Las Vegas, or Los Angeles, adds George Banks, founder of Atlanta-based Revel, an experiential retail development and consulting company.We are adding new public and private attractions every day that will bring even more guests. It is great for retail and entertainment but hard on hotels: were either fully booked or half empty.

With low employment plus job growth, a robust residential pipeline, and major infrastructure improvements, the Miami area, too, has the ingredients for continued economic expansion.

The region has a 3.4 percent unemployment rate, and the Miami MSAMiami, West Palm, and Fort Lauderdalehas added 100,000 jobs over the past year and is projected to add 48,000 jobs each year for the next five years, says Robert Given, vice chairman at Cushman & Wakefield in Miami. In October, Spirit Airlines announced it will invest $250 million in a new Dania Beach corporate headquarters, moving 750 employees from Miramar [California] and adding another 250. Were benefiting from companies who want to get out of states like New York and California. Miamis population growth fuels everything. A lot of people now work from home yet do business all over the globe, Given says. The area is expected to add over 500,000 residents over the next nine years. Thats the equivalent of all the residents in Atlanta picking up and moving to Miami!

The economy in communities around Tampa Bay also is robust, with the region reaping the rewards of development seeds planted years ago.We are buzzing and growing by 300 persons per day. We are one of the top 10 markets, says Lucia E. Garsys, deputy county administrator in Hillsborough County. Residential is full throttle; eds and meds are hot and a key source of job growth; medical centers have major expansions in the works. Were also seeing an increase in what I call the James Bond economynew companies doing innovative technology that existed before only in the movies. For instance, entities such as Softwerx are working closely with the Department of Defense to help solve challenging warfighter problems.

And Orlando, where tourism has long been the primary driver of the economy, is reporting new industries springing up. We are continuing to see an increase in diversification of employment growth across all sectors, says Lisa Dilts, principal at Compspring, an independent real estate advisory company in nearby Winter Park. Some of the recent employment sectors that have seen growing activity in the area include high tech, financial service, and logistics. Companies are choosing our market for the location and relative value compared with other top-tier metros across the nation.

The 26-story, 742,000-square-foot (69,000 sq m) Ally Charlotte Center in downtown Charlotte is expected to be completed in 2021, with Ally Financial taking more than 400,000 square feet (37,000 sq m) of space. Developer Crescent Communities is seeking certifications including LEED, WELL Building Standard (a leading global rating system), Fitwel (a building rating system for commercial interiors), and WiredScore (which evaluates internet connectivity in commercial properties). (Crescent Communities)

Charlotte

The economy in Charlotte, North Carolina, is advancing at an impressive pace compared with the citys peers. Job growth easily outpaces that in North Carolina and the United States, and 4.5 percent annualized growth in the first half of 2019 was the strongest since 2016, according to Moodys DeAntonio.

Private service providers are shouldering the burden as goods producers and the public sector have shed jobs over the past year, he explains. The unemployment rate has edged higher this year, but a surge in labor force growth is responsible for the jump rather than weakness in the labor market. Average hourly earnings growth of 4 percent year over year is outpacing the U.S. average thanks to a groundswell of new high-wage jobs. The strength of the labor market has pushed the multifamily housing market to its limits as development booms and rents soar.

The area is expected to outpace the state and the country over the next year even as job growth moderates, DeAntonio says. Finance, logistics, and health care will propel gains, he adds. Expansion of the financial technology landscape will lend support, and the prospect for a big tech win still stands. Longer term, stellar demographics and a business-friendly climate will attract investment and keep Charlotte a top performer.

Beacon Partners Metrolina Park is a class A distribution park on a 135-acre (55 ha) site that formerly housed the Metrolina Tradeshow Expo in north Charlotte. The park contains over 1.8 million square feet (167,000) of space and was completed in 2018. (Beacon Partners)

As new jobs continue to be created through headquarters relocations and a new focus by major companies in the Charlotte market, mixed-use, office, and residential real estate will expand in the area, predicts Jason Munday, managing principal of the Charlotte office of SeamonWhiteside, an engineering and site design firm.

We definitely see continued growth in the greater Charlotte area, Munday says. Job creation is strong. Truist Financial [the result of the BB&T and SunTrust merger] will be headquartered here. Additional major operations include Honeywell, Allstate, LendingTree, and WeWork. Lowes invested recently in a global tech hub. The industrial sector is also seeing an uptick in activity, and the city is rezoning over 1,500 parcels along the Blue Line light-rail corridor for transit-oriented development.

Charlotte Douglas International Airport is one of the primary economic drivers behind the general economic success of the region, adds Morris, and the embrace of mass transit also positively differentiates the area, leading to additional real estate development. The CBD [central business district] is a construction zone in and of itself, Morris says. Given the aging demographic all across America, hospitals and medical office presents huge growth potential as well. Building on that medical base, Novant and Atrium both seem to be in growth mode. That has huge potential for us.

Crescent Communities 20-acre (8 ha) Escent Research Park, under construction in Charlottes University submarket, will have 158,000 square feet (15,000 sq m) of creative office space, with an expansive lobby and a two-story atrium. Escent is expected to be completed in 2021. (Crescent Communities)

Economic diversification bodes well for Charlottes future, says Elizabeth McMillan, senior director of development at Charlotte-based Crescent Communities, an investor, developer, and operator of mixed-use communities. Finance is a current bright spot, with expansions of current banks like Ally Financial and Bank of America, and the announcement that Charlotte will be the new headquarters of Truist. Health care is also a leading industry in Charlotte, as noted with the recent news of expansion by Atrium Health, she continues.

Ally Charlotte Centera 26-story, 742,000- square-foot (69,000 sq m) office tower in downtown Charlotte with Ally Financial taking more than 400,000 square feet (37,000 sq m)is expected to be completed in 2021.

Charlottes Stonewall corridor has seen tremendous growth over the past five years, she continues. In addition to Ally Charlotte Center, a 400-room JW Marriott will also open in 2021. Projects along the Stonewall corridor include Legacy Union [where Bank of America took space and Honeywell is locating its headquarters], Crescent Communities NOVEL Stonewall Station with 459 luxury multifamily units and a ground-floor Whole Foods, plus other mixed-use residential like Uptown 550 by Northwood Ravin and Savoy by Proffitt Dixon.

Even so, the area must deal with challenges such as affordable housing. All residents must be able to afford to live in our city, Morris says. The Charlotte community is learning that lesson and how to get out of our political and sociology-economic boxes to innovate ways that offer every citizen the opportunity to enjoy a safe and vibrant community.

Bond Brothers Beer Company in Cary, North Carolina, opened in 2016, replacing a carpet warehouse. The facility has a 10-barrel system with a 2,500-square-foot (230 sq m) tap room, a 3,500-square-foot (325 sq m) beer garden, and a 3,500-square-foot (325 sq m) brewery. It was designed by New City Design Group and developed by Northwoods Associates. (Duffy Healy Photography 2019)

Raleigh-Durham

North Carolinas Research Triangle area, around the cities of Raleigh, Durham, and Chapel Hill, is enjoying significant positive momentum across all real estate market sectors, notes Marcus Jackson, principal and a member of Avison Youngs capital markets group in Raleigh.

I believe the Great Recession improved our regions competitive position against the nations larger cities, Jackson continues. Before 2008, we were considered a second-tier city in terms of size and investment climate. Now, we are an institutional investor darling and ranked by ULI as the number-two U.S. market to watch for real estate prospects.

Reflecting investor enthusiasm for the market, the area experienced record-setting quarterly commercial real estate sales volume of $2.3 billion in the third quarter of 2019, bringing volume for the preceding 12 months to an all-time high of $5.6 billion, Jackson notes.

The rapidly growing region has witnessed strong rent appreciation while remaining an outstanding class A apartment value play for tenants and investors alike, Jackson says. The Research Triangle has also undergone rapid urbanization in the last decade, with billions of dollars of public/private investment in our cities urban cores, he adds. ULI now classifies the Triangle as an 18-hour city, increasing our attractiveness to potential talent and investment dollars. There are always silver linings to our down cycles.

New City Design Group of Raleigh transformed an old postal depot in Raleighs artsy Warehouse District into restaurateur Niall Hanleys Morgan Street Food Hall, a 22,000-square-foot (2,000 sq m) hub for more than 25 businesses, including Makus Empanadas, Oak City Fish and Chips, and Cousins Maine Lobsters. The space opened in July 2019. (Duffy Healy Photography 2019)

The Raleigh-Durham region has become increasingly attractive to new residents and businesses alike, benefitting all facets of the regions commercial real estate sector.

Office development has increased notably but remains in line with robust tenant demand, fueling healthy leasing fundamentals and strong rent growth for landlords, says Jackson. Wegmans just opened its first North Carolina [grocery] store in Raleigh and has five more in the works for the local market. Early next year, Amazon is scheduled to open a 700,000-square-foot [65,000 sq m] multistory fulfillment center that uses robotsthe first of its kind in the Triangle.

The Raleigh-Durham area is experiencing a talent/education/quality snowball effect, says Ted Van Dyk, principal at New City Design Group, based in Raleigh. Our strong academic centers are producing top talent, Van Dyk notes. Our tech sector continues to hire and expand, and the excellent quality of life is attracting more companies and talent to the region. Our prospects for growth are strong.

Longer term, stellar demographics, a deep talent pool, and low business costs will spur investment in Raleigh-Durham, and the region will be a top performer among large economies in the South. The states second-largest metro area will be an above-average near-term performer, Moodys DeAntonio says. Job growth will slow but broaden with strength in consumer and knowledge-based industries thanks to in-migration and investment in high tech.

The three-story, 8,500-square-foot (800 sq m) beer and cocktail bar Raleigh Beer Garden has one of the worlds largest selections of draft beers available in one restaurant. Designed by New City Design Group, Raleigh Beer Garden has a rooftop deck and over 3,000 square feet (280 sq m) of outdoor patio seating. (Duffy Healy Photography 2019)

Like other areas in the Southeast, Raleigh-Durham faces some clouds on the horizon. Our challenge here, as in other emerging 18-hour cities, will be to manage growth and increase transit, infrastructure, open space, and the arts, says Van Dyk. Our success will be short lived without a cogent game plan for our rapidly growing region. Short term, however, our prospects are bright, and a new generation of leaders is emerging to meet our challenges.

Atlantas Cooper Carry designed the master plan for Park Center, a regional campus being developed by Dallas-based KDC Real Estate Development & Investments in Dunwoody, Georgia. The firm also designed the first phase, a 585,000-square-foot (54,000 sq m) structure completed in 2016. Construction is underway on the second building, a 22-story office tower containing 670,000 square feet (62,000 sq m) of space. The project is pursuing LEED Silver certification. (Nigel Marson Photography Inc.)

Atlanta

Technology remains one of numerous bright spots in Atlantas urban and suburban environments.

A strong, talented labor pool continues to foster jobs, says Adam Schwegman, partner and senior vice president of retail leasing in the Atlanta office of North American Properties. Creating the right environments in walkable centers of commerce for these skilled workers will be the challenge. Today, Atlanta is full of disconnected suburban office parks and strip malls. Trail connectivity is becoming a major trend, with the Beltline and Alpha Loop proving trails can become oceanfront property.Colony Square in Midtownone of the citys original mixed-use projectsis about halfway through a redevelopment that will help connect residents, he notes. North American Properties is creating Midtowns living roomwalkable to transit; full of amenities; a community destination for office workers, neighborhood residents, and tourists alike at Colony Square,

Schwegman says. Next year we will open several new restaurants, a food hall, and a theater, all surrounding an active green space. Surprisingly, despite the fundamentals, this environment does not currently exist anywhere in the Midtown core.

The convention and tourism sector also has seen significant growth, as have the major health care providers in the market, says Kevin Cantley, president and chief executive officer of Atlanta design firm Cooper Carry. The growth of the film and music industries has led to the development of significant studio, soundstage, and related facilities, he adds.

Above and below: North American Properties is renovating Colony Square in Atlantas Midtown. When completed in 2021, the reimagined Colony Square will encompass two office towers and loft office buildings totaling 940,000 square feet (87,000 sq m); 262 residential condos; a 466-room hotel; and 160,000 square feet (15,000 sq m) of entertainment, retail, and restaurant space, including food hall Main & Main.(North American Properties, Beyer Blinder Belle, Lord Aeck Sargent)

Every indication suggests that a significant volume of real estate development and construction activity will continue, says Cantley. Demand continues to outstrip supply, as is indicated by ever-increasing rents across major market sectors, with only a few exceptions, he adds. The Atlanta Regional Commission projects Metro Atlanta will grow by 2.9 million people by 2050. Accommodating such a significant growth in population will require ongoing new development.

One of the major developments underway in Atlantas north-central perimeter is Park Center. Designed by Cooper Carry, the development is anchored by 1.7 million square feet (158,000 sq m) of office space scheduled to be occupied by State Farm Insurance.

It is a transit-oriented, mixed-use development in an area transitioning from dependent commercial uses to a walkable urban place that is now both commercial and residential served by an expanded MARTA [Metropolitan Atlanta Rapid Transit Authority] heavy-rail station, says Cantley.

Design architect Duda|Paine Architects of Durham, North Carolina, architect of record HKS of Atlanta, and interior architect Gensler (Atlanta) collaborated on NCRs 762,000-square-foot (71,000 sq m) global headquarters campus in Atlanta, which opened in October 2018. (Robert Benson Photography)

Design architect Duda|Paine Architects of Durham, North Carolina, record architect HKS of Atlanta, and interior architect Gensler (Atlanta) collaborated on NCRs 762,000-square-foot (71,000 sq m) headquarters campus in Atlanta, which opened in October 2018. It is a project of developer Cousins Properties, owners representative JLL, and NCR. Located near Tech SquareAtlantas technology and higher education hubNCRs new global headquarters is expected to attract the next generation of engineers and creative employees entering todays evolving workforce.

Los Angelesbased CIM Groups $5 billion Centennial Yards, one of the largest mixed-use projects in the Southeast, is another example of still-robust building activity, says Moodys senior economist Ilir Hysa. The ongoing project will take 10 to 15 years to complete and includes new residential, hotel, retail, and office space, as well as enhancements in infrastructure and green space in the downtown area, Hysa says.

Construction activity will be supported by projects in the periphery of the metro area, too. For example, a 916-unit housing development is planned to be built in Peachtree Corners in Gwinnett County, about 15 miles [24 km] northeast of Atlanta.

Robust building as well as expansion in outsize professional services and health care pushed the jobless rate to 2.9 percent in September, the lowest for Atlanta since tracking began. In such a tight labor market, finding qualified workers will remain the main headache for builders and other employers, Hysa adds. A lack of significant wage pressures, especially in blue-collar positions, has some workers working multiple jobs to supplement their income and keep up with the higher cost of living.

Designed by Duda|Paine Architects, the 118,000-square-foot (11,000 sq m) Emory University Student Center in Atlanta opened in May 2019. The structure is cooled and heated by geothermal wells. The historic East Dobbs University Centerthe Alumni Memorial University Center and its marble facadeare preserved and integrated into the new design. (Duda | Paine Architects)

Georgias film industry also has been an economic boon for the real estate industry, notes Banks. And it will continue to be so unless the folks down at the Gold Dome screw it up for the rest of us, he says, referring to the heartbeat bill passed at the state capitol that would prohibit abortions after a heartbeat can be detected in a fetus.

With such economic success come challenges, of course. Restaurateurs . . . are facing significant personnel shortages, as well as increasing food costs, construction costs, and rents, says Banks. Food and beverage sales may be up 4 percent this year, but weve increased the number of available seats by probably twice that. And as much as I wish differently, the answer to every empty retail space cant be put a restaurant in it.

Attainable housing is an increasing concern because multifamily development is not meeting increasing demand and rents continue to rise. A path to more diverse and affordable housing may be through eventual overdevelopment, resulting in competition for tenants driving down rents, says Cooper Carrys Cantley. Increasing traffic congestion is in many ways driving development to walkable urban areas served by transit, which is of limited supply. Also, suburban development is taking on a more walkable urban mixed-use form that greatly reduces the need for driving trips between single-use developments.

Swire Properties Brickell City Centre, a mixed-use development in Miamis Brickell financial district, is a planned 4.9 million-square-foot (455,000 sq m) development spanning nine acres (4 ha) and including two mid-rise office buildings, Two and Three BCC; two residential towers, Reach and Rise; a luxury lifestyle hotel with residences called EAST, Miami; and 500,000 square feet (47,000 sq m) of retail, dining, and entertainment space. The first phase of Brickell City Centre was completed in November 2016 with the opening of the projects luxury and premium shopping center. The building of BCC will continue over the next decade. (Lifestyle Producton Group)

Miami

While residential rental is leveling off somewhat, office demandparticularly in the urban coreis strengthening, and industrial real estate remains a star performer in the Miami area, says Neisen Kasdin, managing partner of law firm Akermans Miami office and a former mayor of Miami Beach.

Office is strong, with submarkets developing for hedge fund and private equity players like Barry Sternlicht and Carl Icahn relocating to the Miami area, says Kasdin. Triple-A condo locations for smaller luxury buildings continue to move forward. There is a lot of condo inventory, but no evidence of distress since the projects have low leverage with strong sponsors and large cash deposits before commencement of construction.The second phase of the Miami Design District has opened, Kasdin notes. The district is dedicated to innovative fashion, design, architecture, and dining experiences and is owned by Miami Design District Associates, a partnership between Dacra, founded and owned by entrepreneur Craig Robins, and L Catterton Real Estate, a global real estate development and investment fund.

In addition, the $4 billion mixed-use development Miami Worldcentersecond only to New Yorks Hudson Yards in visionis proceeding according to plans.

Miami Worldcenter occupies 27 acres [11 ha] in the heart of downtown Miami and is one of the largest private real estate developments underway in the United States, Given adds. Some 85 percent of the projects have either gone vertical or are going to start in the next 12 months. Also, Virgin Trains USA has broken ground to expand passenger rail service from Miami to Orlando. Passenger service on Virgin Trains, formerly Brightline, from Miami to Orlando is expected to begin in 2022.

Another impressive real estate development is PortMiami cruise terminals. Carnival Corporation, MSC Cruises, Norwegian Cruise Line Holdings, and Virgin Voyages are each building enormous cruise terminals at PortMiami. Total construction costs exceed $1 billion, says Kwame Donaldson, senior economist at Moodys. In addition, Virgin Trains just reached a deal to connect the cruise terminals via high-speed rail to other cities in South Florida and Orlando, he adds.

The Miami-area economy will grow in the short run, but a global slowdown could be a challenge, Donaldson predicts, adding Miamis international character and its high-skilled, bilingual workforce will help it outperform the nation in the long run.

Though the areas jobless rate has dipped to a 12-year low of 3.2 percent, the decline over the last year has been the weakest since the start of the recovery, he says. Average hourly wages have reached an all-time high, but wage growth has retreated to less than 1 percent, much slower than the statewide and national rates, which are above 3 percent. After accelerating at the end of [2018], house price growth slowed in the first half 2019.

Long term, the need for improved transit stands out, says Kasdin of Akerman. Future development will need to be on the higherand resilientcoastal ridge and the surrounding neighborhoods, which can be redeveloped and accommodate the density necessary to support transit, he says.

The 83,000-square-foot (8,000 sq m) Center for Health & Wellbeing in Winter Park, Florida, opened in February 2019. The Winter Park Health Foundation is the developer and primary owner of the facility, designed by Duda|Paine Architects. The center brings tness, medical care, and wellness into one integrated building for holistic and preventive care.(Lifestyle Production Group)

Orlando

Moderate costs, a high quality of life, robust in-migration, and a thriving tourism industry are expected to propel long-term growth in Orlando.The economy in Orlando area is stable, says Donaldson of Moodys. The areas unemployment rate, 3 percent, has hardly changed over the last year as wage growth outperforms the statewide and national rates, he says. After falling through the first half of 2019, these higher wages have drawn workers from the sidelines and led to a recent uptick in the size of the labor force. House price appreciation has slowed to less than 5 percent, though it has outstripped the statewide and national pace each of the last 13 months.Billions of dollars in public and private investment has been committed to the region, including Interstate 4 reconstruction (known as the I-4 Ultimate Project), a $2.3 billion rehab of Orlandos principal thoroughfare, according to Donaldson. In addition, Universals Epic Universe is a planned 750-acre (304 ha) addition to Universal Orlandos collection of theme parks. The expansion is nearly equal in size to the resorts current offerings, he says.

Also, the south terminal expansion underway at Orlando International Airport is planned for completion in 2021, says Dilts. Within the terminal, an intermodal facility is being constructed that will eventually provide connections to the Virgin Trains USA line from South Florida, and a potential connection to Orlandos commuter rail, SunRail, she says.

The south terminal expansion underway at Orlando International Airport is planned for completion in 2021. An intermodal facility accessible by walkway that will eventually provide connections to the Virgin Trains USA line from South Florida, and a potential connection to Orlandos commuter rail, SunRail, was completed in 2017. (Greater Orlando Aviation Authority)

Over the next year, Dilts continues, we anticipate Orlando to remain a top market for economic growth. Having said that, we do predict a slowdown in achievable land values. We are seeing an inflection point where the prices being paid for land and escalating land values are not translating to the same achievable increases in rents and home prices that people are able to pay.

While the region retains a competitive value in comparison with other job centers across the country, Dilts notes, we are not immune from the challenges of providing attainable and affordable housing to the workforce. For the region to continue to grow and house the workforce, we will need to continue pursuing creative solutions. These will come in the form of increased permissible density, waived impact fees or fees that are tied to the unit size, and innovative construction technology.

The University of South Floridas Morsani College of Medicine is slated to open a 395,000-square-foot (37,000 sq m) facility in downtown Tampa, with classes for its doctor of medicine program expected to start in January. The Morsani College of Medicine is a key anchor in the $3 billion redevelopment of downtown Tampas Water Street district. (University of South Florida)

Tampa/St. Petersburg

Eds and meds are one of the major growth sectors in the Tampa Bay area, with a lot of medical space coming out of the ground, Garsys says, adding that the seeds were planted and nurtured years ago. The Morsani School of Medicine at the University of South Florida is slated to open a 395,000-square-foot (37,000 sq m) facility downtown, with undergraduate medical education courses expected to start in January 2020.

The H. Lee Moffitt Cancer Center & Research Institutea nonprofit cancer treatment and research centerand AdventHealth are working to open an outpatient cancer center on the campus of AdventHealth Wesley Chapel in Pasco County, she adds. The outpatient center is expected to open in the fall of 2020.

Another major real estate development that is continuing: Water Street Tampa between the Port and downtown Tampa, led by Strategic Property Partners. The projects plans call for the addition of 9 million square feet (836,000 sq m) of new space. The Water Street Tampa neighborhood will include the first new downtown office towers in nearly 25 years and the first for-sale condominiums in almost a decade.

The Tampa/St. Petersburg areas unemployment rate has edged lower over the past year, from 3.3 percent to 3.2 percent, says Donaldson. Weakness in the labor market is reflected in the housing market, which is showing price appreciation at its slowest since 2012.

The economy in TampaSt. PetersburgClearwater will slow as the next downturn takes a toll on migration into the region, he predicts. Public institutions will provide support during the slowdown, but a lack of regional cooperation is a risk to faster growth. The areas high quality of life and moderate cost of living brighten its long-term prospects.

Barring a global financial meltdown, Americas Southeast region is expected to continue its economic expansion in the years ahead. But the region must also tackle major concerns such as affordable housing, transit, and increasing building costs, too.

MIKE SHERIDAN is a freelance writer in Richmond, Virginia.

Link:
Region in Focus: Tracking the Growth across Six Regions in the US Southeast - Urban Land

The frame of Charleston's new 12-story, mixed-use, upscale apartment building is now complete with the placement of the last high beam, putting the structure on track to open later this year.

The 4-acre development of The Jasper at 310 Broad St. near Colonial Lake on the lower peninsula will include 219 rental units, 75,000 square feet of office space, 25,000 square feet of first-floor retail space and an enclosed garage along with views of Charleston Harbor and the Ashley and Cooper rivers.

Construction on the 12-story, mixed-use Jasper apartment building topped out this week. The 219-unit structure, with office and retail space, is on schedule to open later this year. Rendering/Design by Antunovich Associatesof Chicago in partnership with LS3Pand DesignWorksof Charleston/Provided

The Jaspers location, which allows for unmatched views in every direction, along with its premier amenities, is what makes this a one-of-a-kind legacy project and the finest building in Charleston, said John Darby, CEO of The Beach Co., which is the developer

With leasing underway for office and retail space and an open residential reservation list, the Harleston Village complex will include on-site dining, shopping, a fitness center, rooftop pool and garden, a club and lounge for residents, an attended lobby, outdoor seating, walkways and parks.

At least one major commercial tenant plans to set up shop in the new building. Wells Fargo & Co. said last year it will vacate the three floors it leases at 177 Meeting St. near the City Market in late 2020 and move about 60 employees who work in its commercial lending and wealth management businesses to the Jasper. The San Francisco-based bank will occupy about 30,000 square feet of office space.

The city's Board of Architectural Review signed off on the design for the development in early 2017, but it didnt come without a fight.

The Beach Co. worked for years toward a redevelopment plan for the site but met stiff public opposition along the way.

The initial proposal drew neighborhood criticism after the longtime Charleston-based real estate firm introduced plans in 2015 to raze the 159-foot-tall, 1950s-era apartments and replace the 14-story building with a low-rise development.

The Jasper, a 12-story, mixed-use, upscale apartment building will offer views such as this one with the Ashley River in the background. Rendering/Design by Antunovich Associatesof Chicago in partnership with LS3Pand DesignWorksof Charleston/Provided

After residents and preservationists fought the concept as too dense, the company then reverted to a high-rise, mixed-use building, which is allowed by the citys zoning. The BAR rejected the concept.

The Beach Co. sued the board, saying it overstepped its bounds by rezoning the site to limit the projects size.The height and mass of the project was settled through a court fight and city agreement, but it did not result in a different design.

Demolition was completed in early 2018 on the former Sergeant Jasper building, named for a Revolutionary War soldier. The current construction project broke ground in August of that year. The first residential units are expected to be ready for move in by late 2020.

Reach Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise.

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12-story Jasper apartment building tops out, set to open later this year in Charleston - Charleston Post Courier

Map of Industry City Complex/Image Credit: Industry City Brochure

Despite two years of discussion, Industry City ownership unable to convince Council Member Menchaca and Community Board 7 to support expansion. On February 19, 2020, the City Planning Commission held a public hearing on an application for four land use actions to expand bulk and use requirements for Industry City, in Sunset Park, Brooklyn. Industry City is a 5.3 million square feet mixed-use complex comprised of sixteen buildings with commercial, manufacturing, and community facility uses. Industry Park is located in an area bounded by 32nd Street to the north, 41st Street to the south, Third Avenue to the east, and the Brooklyn Waterfront to the west. The proposed actions will facilitate and support the redevelopment and expansion of Industry City. Industry City plans to construct three new buildings on the complex and include hotels, office spaces, academic centers, and more large scale retail establishments.

Industry City Complex

Map of the Industry City Complex/Image Credit: Council Member Carlos Menchacas Office

The Industry City complex is comprised of sixteen buildings located within two building clusters, the 39th Street Buildings cluster and the Finger Buildings cluster. The 39th Street Buildings cluster is bounded by 39th Street to the north, 41st Street to the south, 2nd Avenue to the east, and the Brooklyn Waterfront to the west. The Finger Buildings cluster is bounded by 32nd Street to the north, 37th Street to the south, and 2nd Avenue to the west. The buildings from 32nd Street to 35th Street extend out to front 3rd Avenue to the east. The buildings from 35th Street to 37th Street extend out to part of the block. Directly north of the Finger Buildings cluster is Liberty View Industrial Plaza, another former four story industrial hub that was redeveloped into a mixed use development with manufacturing space and large scale retail such as Bye Bye Baby and Bed Bath and Beyond.

The buildings were once part of the former Bush Terminal, a privately owned industrial hub that was abandoned in the 1960s. The buildings were vacant and unused until the properties were bought by Industry City in 2013. In 2015, Industry City renovated the complex and brought in small and large scale retail stores, eating establishments, manufacturing spaces, office spaces, warehousing space, event space, and public open courtyards.

Land Use Actions

To facilitate Industry Citys expansion, Industry City proposes four land use actions. The land use actions will affect the Industry City complex and an additional ten lots located adjacent to the complex. Seven of the lots are located along 3rd Avenue on the northeast corner of 36th Street. One lot is located on the northwest corner of 1st Avenue and 39th Street. Industry City plans to acquire these lots and construct two new buildings on them. Two of the lots are located on the southeast corner of 36th Street and 3rd Avenue. These lots will remain in separate ownership and there are no plans to redevelop those lots.

The first action is to create a special district within the area. Special districts modify use and bulk regulations to meet and support the unique needs and characteristics of the area. Industry City proposes a special district in order to have flexible use and bulk regulations that support the complexs mixed uses, protect the complexs existing built form, and support a pedestrian friendly environment.

The second action is to rezone the area from a light manufacturing zoning district to a medium manufacturing zoning district. The current zoning only allows the complex to have manufacturing spaces, small scale retail space, offices, and a limited amount of large scale retail space. The rezoning will expand the permitted uses and bulk in the area to allow academic facilities, hotels, and more large scale retail establishments on the complex.

The third action is for a special permit to modify bulk, use, and other requirements. The fourth action is to demap 40th Street, a privately owned unused street, in order to create more floor area for new construction.

Map of Proposed Construction of Three New Buildings on Industry Citys complex./Image Credit: Council Member Carlos Menchacas Office

As a part of the expansion, Industry City plans to construct three new buildings: Building 11, a thirteen story building, Gateway Building, a twelve story building, and Building 21, a ten story building. The construction would add about 1.45 million square feet to the existing development. Building 11 and the Gateway Building will be built on the Finger Buildings cluster. Building 11 is proposed to have two floors of retail space, three floors of parking space, and eight floors of academic space. The Gateway Building is proposed to have ground floor retail space and eleven floors for a hotel. Building 21 will be built on the 39th Street Buildings cluster and is proposed to have two floors of retail space, three floors of parking, three floors of manufacturing, production, and office spaces, and five floors for a hotel.

Public Review

In September 2017, Industry City announced their plans to expand Industry City and the community was concerned about the projects impact on gentrification and displacement, manufacturing and industrial jobs, traffic and congestion in the community, and access to the Sunset Park waterfront. This resulted in two years of working group meetings and public hearings between local Council Member Carlos Menchaca, Brooklyn Community Board 7, and Industry City from Summer 2018 to Fall 2019 to discuss those concerns.

Originally, Industry City submitted their land use application to City Planning to begin the Uniform Land Use Review Procedure (ULURP) in March 2019; however, Council Member Carlos Menchaca and Brooklyn Community Board 7 Chair Cesar Zuniga urged Industry City to withdraw their application because the Community Board still needed more time to evaluate the project and address community concerns before the application enters the ULURP process. In response, Industry City withdrew their application and discussions continued between the Council Member, Community Board, and Industry City.

On September 17, 2019, Council Member Menchaca sent a letter to Industry City with a set of modifications for Industry City to include in their application. Modifications included removing hotels from the complex, creating more space for industrial and manufacturing uses, restricting retail uses, and creating a public technical high school at Industry City. He also stated that there needs to be a Community Benefits Agreement between the local community and Industry City. The Community Benefits Agreement would legally bind Industry City and future tenants to follow through with community commitments. On September 19, 2019, Industry City agreed to the Council Members terms and planned to resubmit the application to City Planning on September 23rd. On the same day, Council Member Menchaca responded that while Industry City agreed to his terms, more time was needed to come up with a fully negotiated Community Benefits Agreement that would work for the community. This led to Industry City postponing their application submission again.

On October 28, 2019, Industry City submitted their application and it was certified by City Planning. Industry City explained in a letter to Council Member Menchaca and Cesar Zuniga that they submitted the application because they felt that the past delays were enough time for the community to have some framework for a Community Benefits Agreement and stated that the community concerns could be adequately addressed during the ULURP process. In response to the certification, Council Member Menchaca stated that he is prepared to vote against the application when it comes before the City Council.

On January 15, 2020, Brooklyn Community Board 7 was divided on the creation of the special district and the rezoning and the Board took no action on the two land use actions. However, they disapproved the special permit and the demapping of 40th Street. The Community Board explained that the special permit will exempt Industry City from complying with certain bulk and use regulations that will protect waterfront access, prohibit self-storage uses, and require new construction to align with the street wall. The Board wants Industry City to be exempt from those regulations. The Community Board did not explain their decision to disapprove the demapping.

Brooklyn Borough President Eric L. Adams has not released his final recommendation on the application.

At the February 19th City Planning Hearing, Industry City was represented by Andrew Kimball, CEO, Jesse Masyr, Land Use Council, and Crystal Rivera, Community Engagement Director, talked about how Industry City has turned into an economic opportunity area that has created jobs, provided workforce development, supported small businesses in the neighborhood. Kimball stated that the expansion would allow the team to continue this progress and provide about 20,000 new jobs and more amenities for Sunset Park.

In response to Vice Chair Kenneth J. Knuckless question about how Industry Citys expansion would create new jobs at Industry City, Kimball stated that the rezoning would allow Industry City to create new retail spaces, office spaces, and academic facilities in the complex and the creation of these spaces would expand the types of jobs available including entry level retail jobs, manufacturing jobs, and security positions.

John Fontillas, Brooklyn Community Board 7s Land Use Committee Chair, and Cesar Zuniga, Brooklyn Community Board 7 Chair, testified on behalf of the Board. Both Fontillas and Zuniga expressed their frustration with the limited amount of time the Board had to fully understand and come up with a decision on a large, complex project like Industry City. Fontillas later told CityLand that although the Board had time to review a draft scoping document prior to certification, the final application was not submitted to the Board until early November 2019. He explained that this did not give the Board enough time to review, learn about, and evaluate a 3000 page application in the midst of the holiday season.

Fontillas also testified that the final application did not reflect community requests such as limiting the amount of retail and office spaces to increase more manufacturing and industrial spaces and removing hotels from the complex.

Supporters of the project, which include Industry City tenants and members of labor union, 32BJ SEIU, testified that Industry Citys expansion will bring more jobs, bring more educational and vocational training opportunities, provide resources for small businesses, and create infrastructure improvements to Sunset Park.

Opponents of the project, which include some local residents and organizers from Protect Sunset Park and UPROSE, two Sunset Park based advocacy groups, testified that the expansion will contribute to the ongoing gentrification of Sunset Park, contribute to rising housing and commercial rents within the overall neighborhood, and take away industrial and manufacturing jobs by adding in more large scale retail and offices. Opponents are also concerned that the expansion does not include any climate adaption or mitigation components that would protect the Sunset Park community from climate change effects.

City Planning will vote on this application at a later date.

By: May Vutrapongvatana (May is the CityLaw Fellow and New York Law School Graduate, Class of 2019)

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Public Hearing on Contested Industry City Expansion - CityLand

Grand Hyatt | February 24, 2020

Miami Beach, FL Feb. 24, 2020 The development team behind Miami Beachs new Convention Center hotel announced today that an 800-room property will be operated by Hyatt under the luxury Grand Hyatt brand, when it opens to guests in 2023. Grand Hyatt Miami Beach will create a new hospitality option for visitors attending events at the adjacent Miami Beach Convention Center, which underwent a $600 million renovation that was completed last year, and anchor the Convention Center District.

The hotel development is being led byDavid Martinof TerraandJackie Sofferof Turnberry, whose plans for the hotel were overwhelmingly approved by Miami Beach voters in 2018. The 17-story hotel will be situated at the intersection of 17th Street and Convention Center Drive, within walking distance of the beachfront, Lincoln Road Mall, New World Symphony, The Bass Museum and The Fillmore Miami Beach.

For years, Miami Beach has served as a global destination for arts, culture, shopping, dining and entertainment, but the City has lacked a true headquarters hotel for top-tier conventions and meetings, said Martin and Soffer. South Floridas first Grand Hyatt hotel will maximize Miami Beachs investment in its re-imagined Convention Center while bridging the physical gap that exists between the Convention Center District and surrounding neighborhoods.

The new hotel will become only the second Grand Hyatt property in Florida, joining Grand Hyatt Tampa Bay. Grand Hyatt hotels are designed to connect guests with iconic experiences, landmarks and cultural touchstones in captivating destinations around the world. Hallmarks of the brand include bold and vibrant design and architecture, elevated amenities and welcoming service that creates moments of more.

At Hyatt, we believe in growing with intent and expanding our footprint in markets that matter most to our guests and World of Hyatt members, said David Tarr, senior vice president, development, Americas, Hyatt. Hyatt is proud to play an integral role in this project as hotel operator, under the luxury Grand Hyatt brand, which will help guests and locals alike celebrate the iconic, captivating city of Miami Beach.

Grand Hyatt Miami Beach will be designed by internationally acclaimed architectBernardo Fort-Bresciaand his firm, Miami-based Arquitectonica. The team also includes partnerCraig Robinsof Dacra, who is the visionary behind the Miami Design District and helped revive Miami Beachs Art Deco District in the 1990s;Stonehill Taylor, which is designing the hotels interior lobby and lounges, ballroom and meeting rooms, hotel rooms and all common areas;EOA, which is designing the pool deck hospitality features of the hotel; andArquitectonica GEO, which is creating lush pedestrian promenades and landscapes.

Hotel features are expected to include 12 floors of guest rooms offering views of Miami Beach, two floors of meeting spaces and ballrooms that will complement the Convention Center, a resort-style pool deck with panoramic views, and limited retail space that will activate the district at street level. An elevated skybridge will enable event attendees to move freely between the hotel and Convention Center in a climate-controlled, art-filled corridor.

Plans also include landscaped pedestrian promenades on surrounding streets, bike sharing stations, connectivity with public transit routes, dedicated ridesharing pick-up and drop-off zones, and direct access between the Convention Center and Lincoln Road. The projects resiliency and sustainability measures include storm water management and reuse, flood risk mitigation, and the use of solar power all of which are designed to ensure operational continuity during weather events.

The Greater Miami Convention & Visitors Bureau (GMCVB) joins Terra, Turnberry and The City of Miami Beach in welcoming the Grand Hyatt Miami Beach as the newly named brand for the 800-room headquarter hotel connected to the Miami Beach Convention Center, said William D. Talbert, III, CDME, President of the GMCVB. Grand Hyatt Miami Beachmakes it possible to better compete for citywide conventions which fuel jobs in our community and generates business for all of Greater Miamis hotels and merchants.We look forward to the hotel ground-breaking which once completed will finalize the Miami Beach Convention Center District.

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The Grand Hyatt Brand Selected as Flag for New Miami Beach Convention Center Hotel - Hotel-Online.com

(TNS) The downtown area envisioned for the Stafford County, Virginia, courthouse may someday be so technologically advanced that the amount of garbage in each trash can will be electronically monitored.

Ultra-wide broadband will be abundant, as will smart energy, lighting, water and temperature controls that will be built into energy-efficient housing units and commercial buildings.

Were looking to build a secure facility from the ground up, said David Ihrie, chief technology officer of the Center for Innovative Technology. Our goal is to make Stafford a model community for all of Virginia.

The CIT, an extension of the state government, works with early start-up companies, manages grants and focuses on economic development.

The original plan for Downtown Stafford, which featured 673 residential units, a museum, boutiques, restaurants and family-friendly things to do, has been talked aboutand kicked down the roadfor years.

But the project was reinvigorated when Ihrie met Mike Cannon, Stafford director of information technology, at a symposium in October 2018. Cannon discussed Downtown Stafford with Ihrie and the two saw it as a perfect publicprivate partnership opportunity.

County supervisors recently were briefed on the project by John Holden, Staffords director of economic development. He told supervisors the first step of the process would be to use the area in and around the government center as a proving ground for technology that could someday be incorporated into the larger Downtown Stafford area.

Ihrie said CIT would bring a host of interested partners to Stafford to help boost economic development in the region and realize his vision.

We want to make Downtown Stafford the states first standalone smart community, Ihrie said.

Supervisors overwhelmingly supported the concept.

Holden told supervisors that the county share of the buildout would be limited to roads and supporting infrastructure, with private partners funding the construction of buildings within the new community.

Holden said construction of Downtown Stafford, which is anticipated to be along Courthouse Road, across from the existing courthouse, will begin in mid-2022.

This could be a five- to 10-year development process for full completion, said Holden.

The existing urban zoning in the area must be modified in coming months to accommodate an increase in density and parking.

Supervisors will hold a public hearing to discuss the rezoning in the spring. In the meantime, county staff is fine-tuning the project after receiving direction from supervisors.

Supervisor Mark Dudenhefer said to have pedestrian-friendly communities like this, the zoning in the area must be more dense. He said the proposed downtown area has many advantages, including potential jobs and office space within walking distance of the government center.

If we can get jobs down here, hopefully people wont be driving to D.C. all the time, said Dudenhefer. The only issue I see with rezoning ahead of construction is builders willing to build to county specifications.

Ihrie envisions Downtown Stafford as a smart community, where government, businesses and residents use the latest technical innovations.

The project brings private partners in to develop technologies and other vendors to develop tools to implement smart city applications, said Holden.

Holden said Downtown Stafford will feature fewer brick-and-mortar retail outlets on its 28 acres. Instead, Holden said, shoppers can expect an experiential retail experience, such as augmented reality clothing stores with holographic technology to allow customers to try on different outfits.

This is an opportunity for the county to be the showcase for the whole commonwealth and beyond, said Cannon. [The technology] will enhance the quality of life and safety of those living, working and shopping in Downtown Stafford.

CIT has already invested $100,000 to develop a strategy and a vision for Staffords downtown area. It has engaged Optimal Solutions and Technologies to test out ideas.

OST, a Tysons Corner-based technology firm, enhances physical assetssuch as buildings, roads and lightingto create efficient infrastructure. The firm completed specifications for Staffords downtown area last summer.

This summer, OST and other contractors will install equipment and software in government center, which will serve as the operations center for the endeavor. Even after Downtown Stafford is built, the center will remain in operation, continuing to test and evaluate new technology for the county to consider including in the new town center.

For now, Ihrie said a wide range of equipment and sensors will be tested, and some will tie into existing traffic cameras.

Were paying a lot of attention to cameras and their use, and where to use them, said Ihrie. There are ways we can improve traffic flow and congestion and improve the community experience, like whens the best time to leave for work.

Ihrie said sensors inside buildings could help save energy, while monitoring daily operations. During emergencies, other technology could provide critical information to first responders, monitor pollution along the Interstate 95 corridor, and could keep a watchful eye on the landscape.

Well test if [sensors] can sense and detect a wildfire, if they can distinguish between a barbecue or a fire pit, said Ihrie.

To sweeten the pot even more, Fredericksburg-based Jarrell Properties Inc., which owns 6 acres at the corner of Courthouse Road and U.S. 1, has agreed to join the publicprivate partnership. Its property will serve as the gateway for visitors to the countys new town center.

Holden said Jarrell Properties will start building a mixed-use development around communal open space. The county anticipates 309 apartments will be built on the property, known as Fountain Park. There will also be office space, which thee county plans to occupy, serving as the anchor tenant.

Several old buildings that now sit on the site of the future Fountain Park will be demolished as part of the Courthouse Road widening project that begins this year. Next month, the former law office of Robert Hyman, the bank building next to it, and the Aquia Medical Center building situated directly across the street from the courthouse will come down before attention is turned to structures at the Fountain Park site.

After demolition, a portion of the land will serve as a temporary parking area during the construction of the new $45 million county courthouse. That building, which is in the design phase, will be adjacent to the Chichester Building at 1245 Courthouse Road.

After the new courthouse is open, the existing one will be used by the countys legal and law enforcement departments.

2020 The Free Lance-Star (Fredericksburg, Va.).Distributed byTribune Content Agency, LLC.

Continued here:
Virginia Wants to Install Tech and Make a Smart Stafford - Governing

"We're very confident about the local office market," he said, pointing to Vicland's leasing success at 11 Wilson Street in South Yarra.

The 5500sq m office project across nine levels, which is due for completion in July, is 75 to 85 per cent leased.

In August, Mr McNee told The Australian Financial Review the development would appeal to Toorak's wealthy residents seeking to escape the commute to offices in the city.

"Most family offices are based in the CBD, even though the owners live in Toorak," he said.

"We'll be looking to appeal to these people as office tenants, allowing them to relocate closer to home."

A smaller format Coles Local supermarket will anchor the retail portion of the development, with Vicland considering a Spanish-influenced food hall concept on the upper retail level.

The inner suburbs of Melbourne, including Toorak, South Yarra, Cremorne, Richmond and Collingwood, have become hubs for commercial development amid record low office vacancies in the CBD and the recent downturn in the residential market.

At 627 Chapel Street, another Melbourne developer, Goldfields, secured non-bank finance for a $300 million speculativeoffice tower in November last year. Just down the road at the Jam Factory complex, owner Newmark Capital is progressing plans for a mixed-use project, including multiple office towers.

Continued here:
Vicland secures permit for Toorak office tower - The Australian Financial Review

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New office will serve demand for future master-planned free-hold communities in Abu Dubai

Chestertons has opened a new office on Al Reem Island, Abu Dhabi in a move to better serve demand for future master-planned free-hold communities in the area and the Abu Dubai real estate market generally.

The new office, located at The Marina Square, is in a prime position to capitalise on several new launches taking place this year, including Aldars The Bridges, comprising six mid-rise towers, each offering 212 homes, the tech-enabled Reem Mall which will feature 2.8 million sqft of retail space for 450 stores, 85 F&B outlets and a family entertainment offering as well as Reem Forest, an urban forest promoting biodiversity which is expected to pique the interest of investors.

Nick Witty, Managing Director, Chestertons MENA, said: The new office is part of a strategic move to reinforce our position as a leader in Abu Dhabis real estate market. We will offer a broad spectrum of property services expertise which will be complemented by the office location and its excellent connections to Abu Dhabi International Airport and City Centre as well as Al Maryah and Saadiyat Island and of course, Al Reem Island.

A team of real estate experts will provide a range of services including, local investment, leasing and sales, property management, strategic consulting, valuation and international global new homes.

Market research will continue to be an integral part of the remit of the office and will provide the cornerstone for the Chestertons Observer Market Report research series.

According to the latest research by Chestertons, the Abu Dhabi real estate market witnessed marginal declines in the last quarter of 2019 with average sales prices for apartments falling by 2% and villas by just 1% while apartment rents fell by 1% and villas by 2%. Al Reem Island was one of only a handful of Abu Dhabi districts to see stable rents and one of only two areas to see stable capital values, the other being Saadiyat Island.

A favourable supply and demand equilibrium, a range of market reforms and a more muted slowdown of sales and rental decreases are shining a positive light on the real estate market in the capital, something we hope to capitalise on from our new location, added Witty.

The new office can be found at Office No. 802, Tamouh Tower, Building 12, The Marina Square, Al Reem Island.

Content supplied by Chestertons

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Chestertons opens new Al Reem Island office in Abu Dhabi - MEConstructionNews.com

Published 25 February 2020

Architect Oliver Wilson on the changing residential neighbourhoods being created in Scottish city centres.

On moving to Edinburgh as a child, myfirst impression was that it seemed complete. It was like a drawing where all the elementsand perspective fittedtogether perfectly. Im sure visitors arriving in the citynowhave the same formative view with theCastle as the centrepiece and the logic and symmetry of the adjacent New Town.

However,its not until you live, work and play in a city that you really notice that each has a character and style of its own and that theyare never finished - constantlyevolving from one generation to the next.

Industry often dictates change.The transformation of major cities in Scotland is evident from the number of cranes across the skyline. As an architect, I see this as a good thing. It means the promise of big renewal projects and a chance to find new purposes for underused and neglected spaces.

For example, as a student in Liverpool, I watched howcity planners andfellowarchitects worked together to turnthe derelict and disused Albert Dockarea into anew commercial, residential and cultural landmark.

City populations are set to keep expanding and so more homes will beneeded.Population forecasts show that millennials will make up 40% of the workforce by 2030. Quite apart from the desire of this age group tolive in the city rather than the suburbs, there is also the reality of the climate emergency with the younger generation eager to walk and cycle to reduce their impact on theenvironment.

The pendulumisshiftingto favourliving inurban areas. That is why there is a move towards mixed-use developments in Scotland. In many cities, this type of living is commonplace, normally when land is at a premium. Property owners, investorsand developers see many opportunities to maximise limited landuse and to create places where people want to live. This is reflected by policy makers and city plannerswho want to improve the city centre andbring derelict land into productive use.

BDPs Glasgow studio designedBuchanan Gardens, a residential development of 49 apartments above a major retail space onBuchanan Street, the main shopping thoroughfare in Glasgow.

The bespoke apartments are designed to offer contemporary living in the heartof the city. They incorporate existing architectural features from the past: one of the entrances uses theoriginal facade of The Baltic Chambers. All have beenawarded eco-home status, in keeping with the next generations strong environmental concerns.

A sense of community is also increasingly important as an antidote to the isolation and stress of single city living. Our design includes communal areas at both entrances to create shared spaces in the buildings encouraging interaction and inclusivity. Opportunities to meet and spend time with neighbours are further encouraged with the addition of a shared sky garden. Many of the apartments also have their own private outdoor spaces to promote an appreciation of the outdoors in the heart of the city, with terraces and balconies away from the busy streets below.

Back in Edinburgh,BDPis collaborating with other architects to design and deliver Edinburgh St James, with an emphasis onmixed-use development. This isone of the largest and most significant urban regeneration projects currently underway in the UK.It will include 85 retail units, over 30 catering units, 152 new homes, a 244-bedroom five-star hotel, 75 room aparthotel, 5 screen cinema and 1600 car parking spaces.

When working onthese landmark projects with clients,our priority must be that we are creating buildings and communities that will last. Projects in the city should also beabout community and well-being, creatinghomes which are truly part of neighbourhoods,featuring a mix of homes, shops, offices,restaurantsand entertainment venues,where people feel happy, safe and part of a community.

Architecture should be about creating spaces that allow people to feel good in a space. It is also about buildings that will last and may be regenerated in the future. I look out the window from my office and still see empty spaces above shops. For me, that isan opportunity for a newhomein the city.

Read more:
Oliver Wilson: Mixed-use changing the shape of Scottish cities - Scottish Construction Now

Construction is set to begin this spring on an apartment building in downtown Rosemount that city officials say will drive more commercial growth in the area.

Ron Clark Construction and Design was given approval this month to redevelop Shenanigans Pub and the nearby Rosemount Plaza Shopping Center along Highway 3 into market-rate apartments. A second phase of the project will add about 4,000-square feet of retail space on the northeast part of the nearly three-acre site.

The project will cost between $25 million and $28 million to build and have an estimated taxable market of around $21 million, said Kim Lindquist, community development director.

The city has been told we need more rooftops to continue attracting commercial downtown, Lindquist said this week. The apartments bring more residents downtown and increases activity and vibrancy. This will benefit existing businesses and entice new businesses into our downtown.

The L-shaped, four-story apartment building will be among several new housing projects in downtown constructed in recent years, following the creation of a redevelopment plan. Others include Waterford Commons, Cambrian Commons senior housing, and the Steeple Center and adjoining senior living apartments.

To make the latest project work, the city council approved a $3.4 million tax-increment financing plan for the developer that will stretch over 25 years. With TIF, the developer will pay the incremental difference in taxes paid between the old site development and the new one.

A rendering of the four-story, 124-unit apartment project approved for Highway 3 in downtown Rosemount. (Courtesy of City of Rosemount)

A rendering of the four-story, 124-unit apartment project approved for Highway 3 in downtown Rosemount. (Courtesy of City of Rosemount)

A rendering of the four-story, 124-unit apartment project approved for Highway 3 in downtown Rosemount. (Courtesy of City of Rosemount)

A rendering of the four-story, 124-unit apartment project approved for Highway 3 in downtown Rosemount. (Courtesy of City of Rosemount)

They will use money for land write-down, demolition and utility improvements as redevelopment is more costly than greenfield development, Lindquist said.

The developer is required to have the retail project built by 2025.

Most of the project site was developed as a shopping center in 1962, which gave the community a retail boost and was robust for the next three decades or so. But as the retail landscape changed toward mega-malls and big-box retailers, small local shopping malls like Rosemount Plaza suffered.

Moreover, the center has seen minimal economic investment in recent years, leaving it in rough shape and making it difficult nearly impossible to bring it up to modern construction standards, according to Lindquist. Nowadays, the center includes Medic-Car Auto Repair, Chill Salon, The Guitar Shop and Divas & Denim Boutique.

Link:
Redevelopment plan to bring 124 apartments to downtown Rosemount - St. Paul Pioneer Press

KENNETT SQUARESo many people want to live in Kennett Square, developers are running out of space to build homes, businesses and restaurants.

"We are constantly getting building requests from developers," Kennett Square Matt Fetick told members of the Longwood Rotary Club this week. "Our borough codes department is staffed by three people and they have dozens upon dozens of applications sitting in front of them for rehabs and new construction and development. Our planning commission constantly hears from developers who want to build."

A real estate development company based in West Chester is building the Lofts, which will include nearly 100 high-end luxury apartments in the western section in the 600 block of West State Street, within easy distance of the downtown historic district. Work is also underway for a four-story, 175-unit luxury apartment complex on a 14.4-acre tract on Millers Hill Road, very close to the Kennett Area YMCA which includes underground parking. And construction will finish soon on Kennett Crossing, located at 753-754 West Cypress Street that includes 7,500 square feet of retail and office space.

In the past few years, Kennett Square has become known throughout the region as a destination town, with events like the Mushroom Festival, the Mushroom Drop, the Kennett Run, Brewfest, and many more. In fact, in the past five years, five brewpubs have popped up, and council even handcrafted an ordinance encouraging them.

According to official census figures, Kennett Square, which encompasses 1.1 square miles, is home to nearly 7,000 residents, but Fetick says it's closer to 12,000 due to undocumented citizens. The borough is entering its fifth year without a tax increase, boosted largely through income received by new construction.

Fetick said officials are at a point they have to balance whether they encourage more construction, which keeps tax hikes at bay and increases the tax base, or to turn it away and let residential homeowners pay more in taxes."

The Lofts, the latest development, will bring in significant tax revenue, Fetick said.

"The tax revenue alone from that development from the school district and the borough is more than twice per year what the last two tax increases were across the entire borough," Fetick said. "That's huge."

And there is still one huge chunk of land that, if developed, could necessitate the construction of a new school in the Kennett Consolidated School District. It's NVF.

The 27-acre NVF property off Mulberry Street has had environmental issues. At one time, the Nozesky junkyard was located next to NVF, or National Vulcanized Fibre. More than 20 years ago, more than 2,000 drums at the junkyard were dug up by the Environmental Protection Agency.

But remediation of the site should be finished sometime this year. Owner George Beer, the founder and president of the Delaware Valley Development Company, could sell it off to a developer.

"That single parcel makes up 18 percent of the entire borough mass," Fetick said. "One developer will control 18 percent of this town. That's a really big deal."

But it can't happen without borough council's approval. The land is zoned industrial, and would need to be rezoned.

"I expect to see mostly housing there," Fetick said. "I don't want to take traffic away from the center of town. The worst thing we can do is create another retail district in another part of town that may have perceived better parking, and downtown Main Street deteriorates."

At one time there was talk of a developer's interest to build 60 units of affordable senior housing to the site if concessions were granted by borough officials.

"I am passionate about senior housing and allowing seniors to age in place," Fetick said.

Developers are choosing to build high-end luxury apartments in Kennett Square because demand is high.

A recent marketing survey of 466 employees of Genesis, Chatham financial, Exelon and Kennett Consolidated School District, among others, found that living close to work is very important. And a majority said they would consider downsizing to a luxury, maintenance-free apartment.

"Everybody wants to build here," Fetick said.

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Kennett Square mayor: 'Everybody wants to build here' - Daily Local News