Industrial Case Study: Dufferin North Distribution and Intermodal Park

Dufferin North Distribution and Intermodal site sits on 220 acres in Calgary, strategically located adjacent to an intermodal rail facility, an ideal location for major distribution centers and the global supply chain. But the development did not come without its challenges, including the construction of a new bridge in record time. Access this case study presentation and an audio recording of the session on the NAIOP I.CON ’17: Impact Projects Resources page. Read More

Real Estate Industry Weighs in on Flood Insurance

NAIOP and a coalition of other commercial real estate organizations are urging Congress to reauthorize and reform the National Flood Insurance Program (NFIP). While many think of the flood insurance programs as primarily benefitting homeowners, the program also helps protect commercial business owners and their properties, and is essential where there is a limited private market for insurance. The NFIP was last reauthorized in 2012, and expires on September 30 unless Congress takes action.

In identical letters sent to authorizing committees in the House and Senate, the coalition members recommended “that Congress reauthorize and reform the NFIP so it can continue to help the nation’s commercial and multifamily business owners protect their properties, residents, and the jobs they create from the financial perils of flooding.” In addition to enacting a long-term reauthorization of the program, the coalition recommended reforms and improvements to the program, including:

  • Expanding private flood insurance markets by passing legislation that would enable consumers to move to the private market, while allowing for their return to the NFIP program;
  • Updating and improving coverage options, including allowing participants to pay increased amounts to obtain additional coverage for business interruption, coverage of multiple buildings, and other options;
  • Helping the Federal Emergency Management Agency develop more accurate flood mapping.

NAIOP will continue to work with others in the real estate industry to educate Congress on the continued importance of NFIP, and to advocate for its reauthorization.

Watch the Legislative Update Members-only Webinar

By Brielle Scott

NAIOP’s second Advantage Series webinar took place this week, providing a legislative update to members on key priorities for the association and the industry in 2017: tax reform, infrastructure, and the availability of capital and credit.

Aquiles Suarez, NAIOP’s vice president for government affairs, who led the webinar, started the discussion with a look at tax reform. Suarez explained that the overarching goal of the House GOP Blueprint for Tax Reform is to “broaden the base” by collecting taxes from more sources, which means getting rid of credits and deductions, and to “lower tax rates, particularly the corporate tax rate,” with the argument that our corporations are at a disadvantage when competing internationally. However, roadblocks to passing the plan include the recent failure to pass the Affordable Care Act repeal (which means that an additional $1 trillion in offsets must be identified to ensure the tax plan is “revenue neutral”) and pushback on the Border Adjustment Tax.

Read the full article here.

NAIOP members can hear Suarez’ responses to these questions and more insights into legislative issues affecting CRE by viewing the archived version of the full webinar online.

CALL TO ACTION – Participate Now! Market Pulse Survey

In an effort to identify re-occurring issues and collect real examples, NAIOP is asking our members to share your experience with land development permitting (e.g. City of Charlotte land development, subdivision, planning/zoning, engineering, USDG, tree ordinance, stormwater, CDOT, NCDOT, Duke Energy, Piedmont Natural Gas, Charlotte Water, etc.) for development that has occurred over the past two years. Through this survey, we hope to identify common successes and challenges within the system in order to better address them with officials.

Click here to participate

Thank you for your quick response.

Bulfinch Crossing the Next Phase of Urban Revitalization in Boston

By Thomas N. O’Brien

A 4.8-acre mixed-use, transit-oriented development on the site of the Government Center Garage aims to meet the future needs of Bostonians.

SPANNING TWO city blocks at the geographic center of Boston’s urban evolution, Bulfinch Crossing — the redevelopment of the Government Center Garage site — has been planned as a 2.9 million-square-foot mixed-use development. Situated atop two MBTA subway lines, a short walk from the city’s two commuter rail stations and a mere five-minute drive from Logan Airport, the project is expected to set a new standard for transit-oriented development.

At buildout, the 4.8-acre project will feature 1.15 million square feet of office space, much of it in One Congress, a 43-story, 1 million-square-foot office tower designed by Pelli Clarke Pelli Architects and CBT Architects that will rise more than 500 feet at its namesake location, offering unparalleled 360 degree views. Tenants are expected to include financial services, technology and/or other Boston-based industries.

Click here to read the full article.

Congratulations to Our 2017 Clay Shooting Tournament Winners

Thank you to everyone who came out on Thursday, April 20, for the NAIOP Charlotte and CRCBR Annual Clay Shooting Tournament at The Fork Farm & Stables

Click here to view photos from the event.

Top Overall Team
Ed Gulledge
Cyril Gulledge
Doug Kull
Mike West

Top Overall Male Shooter
Doug Kull

Top Overall Female Shooter
Amy Sullivan Hicks

Team Flurry Contest Winners (Sponsored by InterCon)
Ed Gulledge
Cyril Gulledge
Doug Kull
Mike West

Congratulations to our White Rabbit Contest Winners, sponsored by ZGM.

Economic Impact, Trends of US CRE

Development, construction and ongoing operations of new commercial real estate in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels, supporting 6.25 million American jobs and contributing $861 billion to U.S. GDP in 2016.

The annual study “Economic Impacts of Commercial Real Estate,” published by the NAIOP Research Foundation, measures the contributions to GDP, salaries and wages generated, and jobs created and supported from the development and operations of commercial real estate.

  • Commercial real estate development, construction and ongoing operations supported 6.25 million American jobs in 2016 (a measure of both new and existing jobs).
  • Commercial real estate development, construction and ongoing operations contributed $861 billion to U.S. GDP in 2016.
  • There were 410 million square feet of office, retail, warehouse and industrial built in 2016, with capacity to house more than 1 million new workers with a total estimated payroll of $57.6 billion.

“The importance of commercial development to the U.S. economy is well established, and the industry’s growth is critical to creating new jobs, improving infrastructure, and creating places to work, shop and play,” said Thomas Bisacquino, NAIOP president and CEO. “Commercial real estate is a robust contributor to national and state economies, and NAIOP is dedicated to working with the administration, Congress and state legislators to develop bipartisan infrastructure investment and incentives for capital investment that empowers our industry to expand.”

Click here to read the full article.