Sports Venues New Stars In Real Estate Development

By CHUCK GREEN Professional sports stadiums are an anchor for a growing number of real estate developments as teams capitalize on Americans’ desire for all-encompassing experiences. Based on a count from RCLCO Real Estate Consulting, between the National Football League, National Basketball Association, National Hockey League, Major League Baseball, and Major League Soccer, there are 43 venue-anchored real estate development projects on the ground, with seven more under construction. Another 34 are being considered. Last month, RCLCO announced the launch of a new proprietary Venue-Anchored Development Tracker for every major league stadium in the U.S. and Canada. Users can find information about existing, under construction, and planned venue-anchored developments. During a recent presentation, Vice President Alex Shaia talked about what’s…

The Future Of Build-For-Rent Single-Family Communities Is Bright

By KIMBERLEY HAAS Build-for-rent communities have been growing in popularity as the housing landscape changes in the United States. According to leaders at the National Association of Home Builders, developers are exploring new ways to meet continued housing demand and single-family build-for-rent properties provide a stepping stone between renting and buying for young families, as well as a good downsizing option for aging adults. They say many of the people who choose to live in these neighborhoods are renters by choice. The concept has been getting national attention as people want the flexibility of renting but the amenities that come with homeownership such as more privacy and backyards. It is estimated that hundreds of build-for-rent communities are coming to the…

The Future Of Malls As The Consumer Attention Span Gets Shorter

By NICOLE MURRAY Successful malls are offering more than a little retail therapy these days. Shopping malls across the country have been forced to pivot their business strategies as inflation rates spike, retail spaces become vacant, and e-commerce grows in popularity. Experts say malls have performed differently depending on their class. According to Kelly Mangold, principal at RCLCO Real Estate Consulting, class A malls with exclusive, high-end luxury retailers with few vacancies have continued to perform the best. “Malls tend to be successful when they are transformed into a one-stop shop for high-end goods that people cannot get anywhere else nearby,” Mangold said. Class B malls, whose success relies on their anchor retailers, have struggled because, “their level of business…

Housing Starts Exceed Expectations

By KIMBERLEY HAAS Privately-owned housing starts surpassed estimates in May, beating expectations as the housing market remains tight. The U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced the latest residential construction statistics on Tuesday morning. “Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This is 21.7% (±14.8%) above the revised April estimate of 1,340,000 and is 5.7% (±10.8%) above the May 2022 rate of 1,543,000. Single‐family housing starts in May were at a rate of 997,000; this is 18.5% (±14.1%) above the revised April figure of 841,000,” a press release says. Principal Kelly Mangold of RCLCO Real Estate Consulting in Maryland said this is the second month in a…