August 2018

Found 3 blog entries for August 2018.

Wealthy Chinese Continue to Buy U.S. Real Estate for InvestmentFor the fourth year in a row, the U.S. tops the list of favored destinations for a sizable number of wealthy Chinese individuals who wish to leave their country. Ireland and Canada placed second and third, respectively.

The statistics are interesting: 224 Chinese nationals with an average net worth of $4.5 million were surveyed. Seventy percent of them already have foreign assets, primarily property, accounting for approximately 11 percent of their wealth, with a consensus among respondents that foreign investment at about 25 percent would be desirable. Education and the environment top the list of concerns for those considering emigration, according to the Hurun Report, released on June 30, 2018. Strict Chinese government controls in China are

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Adaptive Reuse of Older Buildings Adds Value to NeighborhoodsDistinctive buildings, from decaying warehouses to abandoned churches, have become trendy targets for new development throughout the country. Many of them require extensive redevelopment, but they often have unique characteristics that promise opportunities for specialty leasing. In addition, in some areas entire neighborhoods full of distressed and underused properties are ripe for modernization and for what today is termed adaptive reuse.

It's a real estate niche that requires timing, creativity and commitment. The upside is that, at least in some locales, municipal governments and planning and zoning officials are thoroughly supportive of private efforts and, in some cases, are willing to partner with private owners and developers in

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Technology and Greenery Highlight Proposals for City Lot DevelopmentW.A. Mortenson won a previous round of bidding with a proposal for a hotel at 800 Washington Avenue S. in Minneapolis MN. However, those plans were abandoned when the company encountered financing difficulties. Now Minneapolis has an opportunity to consider a different type of development on a half-acre-plus rectangular lot sandwiched between the Riverfront Parking Ramp and Washington Ave. In April, the city called for new RFPs on the city-owned tract, and four developers responded.

The site is near the Guthrie Theater, and the city stipulated that any new construction be at least five stories to act as a visual buffer from the existing parking garage. During the last round of proposals, Mortenson had submitted an ambitious plan for a 188-room

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