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Bay Area Real Estate Trends: Market Turns A New Leaf in 2023
Development Updates in the Greater Bay Area: Real estate professionals in the Bay Area feel hopeful this year after a long stretch of economic hardship brought on by the pandemic. The lasting effects of pandemic-era lockdowns and remote work trends have left many offices vacant, driving companies to relocate out of the once highly sought-after…
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Bay Area Real Estate Trends: Developers Capitalize on Changing Economy
What’s New In The Bay Area: The Bay Area real estate market has seen its fair share of ups and downs over the past months, yet with every downturn in the economy comes a unique opportunity for growth. While some leaders in the space have attempted to cut costs, others in the Bay Area are…
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Bay Area Real Estate Developers Continue Projects Amid Market Changes
The Bay Area real estate market has faced some difficulties in the past months, as the market continues to fluctuate, providing no certain light at the end of the tunnel. Despite this, some of the area’s industry leaders are doubling down, with plans of new developments in a variety of asset classes.
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Santa Monica Real Estate Market: New Frank Gehry Building Approved
Santa Monica city council has approved the new building designed by Frank Gehry. The project dubbed the Ocean Avenue Project is a mixed use development that includes a hotel, shopping, a museum, restaurants, and housing. It will receive a LEED Platinum rating, the highest rating given by the US Green Building Council. Worth Real Estate…
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Real Estate Development California: LA Real Estate and Housing Updates
State lawmakers have granted an extension to a previous deadline allowing LA city officials to rezone their communities to allow for more housing. 250,000 homes are required by the long term growth plan. The officials have until Fall 2024 to complete their plans and the penalty for missing the deadline is losing access to billions…
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Silicon Valley Real Estate Sees Industrial & Affordable Housing Demand
While commercial real estate demand in the Silicon Valley remains low in comparison to pre-COVID levels, developers are finding fruitful opportunities predominantly in the way of industrial and affordable housing. The latter comes as no surprise granted the median home value in the Valley sits above $1.1M.
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California Real Estate: New San Diego Sports Arena and More
Five teams are competing for the design and development of 48 acres in the Midway District for a new sports arena. All the proposals include towers and affordable housing, projecting to build 4000 units, including 1200 affordable units. The projects seek to revitalize the otherwise “neglected” Midway District.
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Affordable Housing Pasadena: Update on the City’s Development Goals
In 2020, council member John Kennedy announced a goal for 1000 units of affordable housing in 1000 days. Community Builders Group broke ground on their 280 Oakland Ave project, which will provide 180 of those units. The regional council of Pasadena is also requiring the city to build 9,400 units by 2049.
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Inland Empire Commercial Real Estate: Cali’s Fastest Growing Market
Riverside-San Bernardino, referred to as the Inland Empire, posted stronger gains than its larger neighbor Los Angeles along with every other metropolitan area in California. Marcus & Millichap ranked Inland Empire as 14th on its list of 46th markets in the country. The metro is known and recognized as an industrial hub for the region.…