January 2019

Found 4 blog entries for January 2019.

Minnesota Opportunity Zones Give Birth to Funding to Spur DevelopmentEven though designated Oppportunity Zones throughout the nation are viewed as vehicles for investment in local communities and a market-driven source of renewed opportunity for workers and residents of low-wealth communities, state and local officials see challenges in implementing programs that will have the hoped-for positive results in Minnesota. But that has not deterred forward progress with the program.

Federally-sponsored bipartisan efforts created the Opportunity Zone funding in 2017 as part of the Tax Cut and Jobs Act of 2017. Congress subsequently approved a list of 128 Minnesota census tracts eligible to receive the funding. Minnesota's Department of Employment and Economic Opportunity (DEED) is tasked with administration of the

104 Views, 0 Comments

Addressing the Labor Crisis in the Construction TradesIt's a problem that's been brewing for a decade or more. There aren't enough skilled workers to keep up with the demand—across the country and across the wide spectrum of real estate and construction, from new homes to new high rises.

A Nationwide Crisis

Nationally, approximately 70 percent of contractors who responded to a survey conducted by the Associated General Contractors, noted that they had problems filling and retaining hourly workers. In the west, the percentage is often 75 percent or higher. It goes beyond the ability to pay higher wages; unemployment among construction trades is near an all-time low, at just 4.4 per cent in May, indicating a severe lack of available workers.

The shortage is critical for many reasons, and the

575 Views, 0 Comments

For Real Estate Investors, Student Housing Is a Profitable New MarketReal estate investors are "on track to spend more than $11 billion to buy student housing properties in 2018," according to a December 17 article in Minnesota Real Estate Journal. That's almost $3 billion more in valuation than the total deals closed the previous year.

Because of what has been termed "recession resiliency," the student housing market is termed stable, despite rising prices and worries about overbuilding. J. Ryan Lang, executive managing director of the ARA Newmark Student Housing office in Austin, Texas, notes that this asset class was characterized by record transaction volume in the second half of the year.

Student Housing Market Evolves, Remains Strong

Foreign investment and large portfolio transactions in previous

164 Views, 0 Comments

Surban Centers Fill a New Need for Coordinated Lifestyles"Surban growth" may be the next phase of a changing development picture that will play an increasing role in real estate during the coming years.

Development demographics are shifting—but rather than there being a distinct separation between urban and suburban, the newest trend involves a melding of the best of both. This "surban" appeal redefines some of the traditional labels of generational context, employment status and even family makeup.

Emerging Trends of Future Growth

A fascinating look at the emerging future of a population—and an economy—in transition points to a reorganization not only of the "where" but also of the "who." It promises to affect the housing market as well as commercial development and city planning efforts, and

153 Views, 0 Comments