Tag: commercial real estate tenants

Zoning Laws and How to Work with Them

Access to affordable housing has been an ongoing issue all across North America, and communities everywhere have been searching for their own solutions. In New York City, an attempt to address this problem has led to widespread debate and plenty of tension. That attempt? New zoning laws. To be a bit more specific, New York City has a regulation known as the Floor-Area-Ratio cap (or “FAR” cap) which restricts the maximum height of new residential construction within certain areas of the city, like the historic Hell’s Kitchen. We’ve previously discussed how developers have started to convert empty office buildings into apartments in order to add housing opportunities but NYC’s FAR cap might be limiting creative solutions like this. Spectators to this discussion may find themselves wondering if these zoning laws are such a hindrance, why were they put in place originally? And if some zoning laws are only a thorn in the sides of developers, investors, and the average renter, how have they lasted this long? Let’s discuss! What are Zoning Laws?Broadening the discussion for just a second, let’s dive into a few definitions and some background information on zoning laws. To simplify, zoning laws are the rules and restrictions

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Building Community: How to Plan Events at Multifamily Properties

People have been through a lot in recent years. Between how the pandemic limited social interactions and a general rise in nostalgia, researchers have noticed an unfortunate trend. According to Discovery ABA, a children’s therapy service provider, over 60% of adults in the US report feeling lonely, and for young adults this stat is even more shocking. With a whopping 79% of young people reporting feeling lonely, researchers are now calling Gen Z the loneliest generation. This can certainly sound dire, but there are those who also see this trend as a rising opportunity. People want to be more social, they want interaction with their neighbors, and people want a larger sense of community where they live. Since 45 million households are renters (from data collected by the National Multifamily Housing Council), property managers and multi-family property owners are in a prime position to meet the new need of this generation, and one solution managers are turning to is event planning. Not only does community event planning show that you as a property staff care about your tenants, a happier community leads to a higher retention rate and more tenant referrals (lower vacancies). If you’re interested in planning your first

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Proptech in 2024: How Innovative Technologies are Changing CRE

As Bob Dylan once said: the times, they are a-changin.’ For office spaces, this means contending with the demands of remote workers. For warehousing, this means balancing the demands of a growing e-commerce industry with a normalizing retail sector. Factors that ripple out and affect many different facets of life certainly have their own touch on commercial real estate, but in an industry that’s frequently criticized as slow to adapt to the newest technologies, maybe the times are bringing more changes to CRE in 2024 than ever before. Proptech is a catch-all term referring to the cross section of new technologies with residential and commercial real estate. While some tech integrations with the every-day of property management and the buying/selling process have streamlined the commercial real estate industry already, some are looking at the residential proptech seen in smart homes and speculating at the eye-popping changes sure to come soon. Today, let’s review a few of those types of proptech that are creating waves in CRE in 2024! Virtual Tours and 3D Floor PlansIn general, proptech that’s been gaining popularity in CRE are the types that cut down drastically on wasted time, and a few techniques that are great at

Read More »

Zoning Laws and How to Work with Them

Access to affordable housing has been an ongoing issue all across North America, and communities everywhere have been searching for their own solutions. In New York City, an attempt to address this problem has led to widespread debate and plenty of tension. That attempt? New zoning laws. To be a bit more specific, New York City has a regulation known as the Floor-Area-Ratio cap (or “FAR” cap) which restricts the maximum height of new residential construction within certain areas of the city, like the historic Hell’s Kitchen. We’ve previously discussed how developers have started to convert empty office buildings into apartments in order to add housing opportunities but NYC’s FAR cap might be limiting creative solutions like this. Spectators to this discussion may find themselves wondering if these zoning laws are such a hindrance, why were they put in place originally? And if some zoning laws are only a thorn in the sides of developers, investors, and the average renter, how have they lasted this long? Let’s discuss! What are Zoning Laws?Broadening the discussion for just a second, let’s dive into a few definitions and some background information on zoning laws. To simplify, zoning laws are the rules and restrictions

Read More »

Building Community: How to Plan Events at Multifamily Properties

People have been through a lot in recent years. Between how the pandemic limited social interactions and a general rise in nostalgia, researchers have noticed an unfortunate trend. According to Discovery ABA, a children’s therapy service provider, over 60% of adults in the US report feeling lonely, and for young adults this stat is even more shocking. With a whopping 79% of young people reporting feeling lonely, researchers are now calling Gen Z the loneliest generation. This can certainly sound dire, but there are those who also see this trend as a rising opportunity. People want to be more social, they want interaction with their neighbors, and people want a larger sense of community where they live. Since 45 million households are renters (from data collected by the National Multifamily Housing Council), property managers and multi-family property owners are in a prime position to meet the new need of this generation, and one solution managers are turning to is event planning. Not only does community event planning show that you as a property staff care about your tenants, a happier community leads to a higher retention rate and more tenant referrals (lower vacancies). If you’re interested in planning your first

Read More »

Proptech in 2024: How Innovative Technologies are Changing CRE

As Bob Dylan once said: the times, they are a-changin.’ For office spaces, this means contending with the demands of remote workers. For warehousing, this means balancing the demands of a growing e-commerce industry with a normalizing retail sector. Factors that ripple out and affect many different facets of life certainly have their own touch on commercial real estate, but in an industry that’s frequently criticized as slow to adapt to the newest technologies, maybe the times are bringing more changes to CRE in 2024 than ever before. Proptech is a catch-all term referring to the cross section of new technologies with residential and commercial real estate. While some tech integrations with the every-day of property management and the buying/selling process have streamlined the commercial real estate industry already, some are looking at the residential proptech seen in smart homes and speculating at the eye-popping changes sure to come soon. Today, let’s review a few of those types of proptech that are creating waves in CRE in 2024! Virtual Tours and 3D Floor PlansIn general, proptech that’s been gaining popularity in CRE are the types that cut down drastically on wasted time, and a few techniques that are great at

Read More »