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Understanding the Pros and Cons of Office-to-Residential Conversion
The COVID-19 pandemic and the ongoing popularity of remote work has put office building owners in a difficult position. While certain assets have proved resilient – such as Class A office space rich in amenities – Class B and Class C office buildings remain in decline. As a result, many developers are looking for ways…
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10 Ways Real Estate AI is Transforming the Industry
The commercial real estate development industry, like many others, is set to be disrupted and enhanced by artificial intelligence (AI). The industry has a reputation for being slow to adopt new technologies – Deloitte’s 2024 Real Estate Outlook survey reported 61% of respondents said their firm’s core technology infrastructure still relied on legacy systems. However,…
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Unpacking the Net Zero Building: What Developers Need to Know
Net zero buildings, or properties that produce as much energy as is consumed over the year, may soon become an important part of your firm’s efforts to meet Environmental, Social, and Governance (ESG) targets. The White House set a goal to make zero emissions new construction and retrofit common practice by 2030. To help public…
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Everything You Need to Know About Cap Rate in Commercial Real Estate
The capitalization rate (cap rate) is used to determine the expected return on investment on a rental property. Cap rate is considered the most important and popular metric for determining a project’s profitability and is widely used throughout the real estate industry. Cap rates, a measure of the income produced by a property relative to its…
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A Real Estate Developer’s Inflation Reduction Act Guidebook
The Biden Administration signed the Inflation Reduction Act into law in August of 2023, and the legislation is intended to strengthen the economy, invest in energy security, promote climate resilience, and lower healthcare costs for consumers. The United States Department of Treasury will be responsible for implementing major components of the law, such as tax…
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How Real Estate Development Software Unites Finance and Project Teams
Over the course of a complex development process, your project management and financial teams need to communicate to bring projects in on time and under budget. Finance and project teams work together to ensure a project is financially feasible, capital is deployed correctly, and investors or other key stakeholders receive reports on a project’s progress.…
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How to Improve Your Real Estate Development Process in 2024
The real estate market will have a mixed outlook in 2024, and while economists are hopeful the U.S. will avoid a recession and achieve a soft landing, economic growth remains slow and downside risks will stay high. As a result, investment activity and capital deployment are expected to remain stalled through the first half…
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How Shifting Parking Minimums Impact CRE Development
Parking minimums, which mandate a fixed number of off-street parking spots owners must provide for every residential, commercial, or office building, have been a part of state and local policy in the United States since the post-war era. Zoning codes started to include parking requirements to address concerns around congestion, ensure businesses could succeed, and…
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Make Commercial Real Estate Project Management Easier With Northspyre
Real estate project managers take on many responsibilities throughout a complex development project. From managing capital deployment and budgeting to meeting timelines and ensuring zoning or building code compliance, a project’s success is often in the project manager’s hands. Luckily, development software is making commercial real estate project management easier, allowing you to guarantee more…