Real Estate Trends: Looking Ahead to 2021
November 09, 2020 —
Adam Weaver - Gravel2Gavel Construction & Real Estate Law Blog2020 has been an unprecedented year, and, while there are likely more twists and turns to come before December 31, it is essential to look at how the real estate markets have changed this year and which trends are likely to continue into 2021. The COVID-19 pandemic has impacted nearly every industry, including commercial real estate, and its impact will continue to influence the market and commercial real estate long after the virus has been eradicated.
Commercial Real Estate Loan Modifications
As the United States’ economy stalled, shut down and slowly started to recover throughout 2020, many businesses were negatively impacted, and most property owners found themselves negotiating with both their lenders and tenants. As tenants were unable to pay rent, property owners were unable to service their debt, which led to a surge of loan modifications this year. This trend certainly will continue through the first half of 2021, as the economy continues to recover.
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Adam Weaver, PillsburyMr. Weaver may be contacted at
adam.weaver@pillsburylaw.com
Run Spot...Run!
November 18, 2024 —
Daniel Lund III - Lexology"The 'classic' definition of spot zoning is 'the process of singling out a small parcel of land for a use classification totally different from that of the surrounding area for the benefit of the owner of such property and to the detriment of other owners.’ Anderson’s American Law of Zoning, 4th Edition, § 5.12 (1995)” (from plannersweb.com).
A wireless carrier rebuffed in Jennings, Louisiana, on an application to rezone residential property to site a monopole cell tower sought relief from the federal court for the Western District of Louisiana. The city lacked any wireless tower provisions in its ordinances, and the carrier asserted that existing “commercial property within the appropriate range” was unavailable.
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Daniel Lund III, PhelpsMr. Lund may be contacted at
daniel.lund@phelps.com
Learning from Production Homes of the Past
August 13, 2014 —
Beverley BevenFlorez-CDJ STAFFBig Builder recaps production homes by decade, beginning with Sears Catalog Homes of the 1920s. They cover major events, original prices, intended buyers, geographic areas, designer/developers, styles/floor plans, and how they broke ground. Big Builder chose to highlight Greenbelt Row Houses for the 1930s, Levittown Tract Homes for the 1940s, as well as additional home builders for each decade through 2010.
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Fence Attached to Building Covered Under Dwelling Provisions
March 01, 2017 —
Tred R. Eyerly – Insurance Law HawaiiThe Texas Supreme Court determined that a damaged fence attached to the insureds' dwelling was covered under the dwelling provisions, not the "other structure" portion of the policy. Nassar v. Liberty Mutual Fire Ins. Co., 2017 Tex. LEXIS 113 (Tex. Jan. 27 ,2017).
The insureds' owned six acres of property. Hurricane Ike caused significant damage to the property on September 13, 2008. The insureds submitted a claim to Liberty Mutual under their homeowners' policy. Liberty Mutual paid several claims, but disputes arose over the value of various items of damaged property, including the fencing on the property. The insured's fencing spanned over 4,000 linear feet, including a white picket fence at the northeast corner of the dwelling, an ornamental iron fence in front of the dwelling, numerous cross fences, garden fences, and a larger, perimeter fence.
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Tred R. Eyerly, Insurance Law HawaiiMr. Eyerly may be contacted at
te@hawaiilawyer.com
Bats, Water, Soil, and Bridges- an Engineer’s dream
December 31, 2014 —
Melissa Dewey Brumback – Construction Law in North CarolinaWant to know how bats may affect your engineering plans? Want to hear about cool new bridges? Read on.
Over the past month, I’ve had the pleasure of attending two events hosted by the North Carolina Chapter of the ACEC (American Council of Engineering Companies). The first of these was the Joint Transportation Conference, held in conjunction with the NC DOT. The second was the annual ACEC Engineering Excellence Awards. At both events, I learned interesting information that engineers should know. Today, I will discuss the Transportation Conference, including some new regulations and unusual design methods. I will save the highlights from the Excellence Awards for later this week.
1. It’s a cave, it’s a bat, it’s bats, man!
Did you know that your future bridge project may be affected by the Northern Long-Eared Bat? It’s true. Right now, the federal government is considering listing the bat on the Endangered Species List, due to the 98-99% mortality rate the bats are experiencing due to “white nose syndrome”. Over 1,700 projects in North Carolina could be impacted, including work on bridges, culverts, abandoned buildings, and guardrails–essentially, any activity involving tree clearing, structure demolition/removal, or structure maintenance. On November 26th, 2014, the US Fish and Wildlife Service extended the comment period to discuss the implications of listing the bat on the endangered species list. If the bat is listed, there is no grandfathering of projects. All projects will immediately be required to engage in protective activities. Stay tuned, but be aware that your transportation projects could be affected starting sometime next year.
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Melissa Dewey Brumback, Construction Law in North CarolinaMs. Brumback may be contacted at
mbrumback@rl-law.com
Is Everybody Single? More Than Half the U.S. Now, Up From 37% in '76
September 10, 2014 —
Rich Miller – BloombergSingle Americans make up more than half of the adult population for the first time since the government began compiling such statistics in 1976.
Some 124.6 million Americans were single in August, 50.2 percent of those who were 16 years or older, according to data used by the Bureau of Labor Statistics in its monthly job-market report. That percentage had been hovering just below 50 percent since about the beginning of 2013 before edging above it in July and August. In 1976, it was 37.4 percent and has been trending upward since.
In a report to clients entitled “Selfies,” economist Edward Yardeni flagged the increase in the proportion of singles to more than 50 percent, calling it “remarkable.” The president of Yardeni Research Inc. in New York said the rise has “implications for our economy, society and politics.”
Singles, particularly younger ones, are more likely to rent than to own their dwellings. Never-married young singles are less likely to have children and previously married older ones, many of whom have adult children, are unlikely to have young kids, Yardeni wrote. That will influence how much money they spend and what they buy.
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Rich Miller, BloombergMr. Miller may be contacted at
rmiller28@bloomberg.net
Biden Unveils $2.3 Trillion American Jobs Plan
May 10, 2021 —
Garret Murai - California Construction Law BlogThis past week, President Biden unveiled his American Jobs Plan, a $2.3 trillion dollar plan to upgrade the nation’s infrastructure over 8 years.
As we wrote about this past month, the American Society of Civil Engineers recently issued its 2021 Infrastructure Report Card which gave the country’s infrastructure a cumulative grade point average across several areas including roads, public transportations and schools of a disappointing C-. According to a White House fact sheet on the American Jobs Plan, while the United States is the wealthiest county in the world it currently ranks 13th when it comes to the overall quality of its infrastructure.
Infrastructure spending at the federal level has historically been paid for through the gas tax. Currently, that tax is 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel. The last time the federal gas tax was increased, however, was nearly 30 years ago in 1993. The reason for this long hiatus? Voter backlash and backlash by big businesses whose fleets still primarily rely on fossil fuels and diminishing returns as the number of electrical and hybrid vehicles increasingly hit the streets.
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Garret Murai, Nomos LLPMr. Murai may be contacted at
gmurai@nomosllp.com
The Construction Lawyer as Counselor
June 10, 2019 —
Christopher G. Hill - Construction Law MusingsIt’s been a while since I discussed the role that I believe a construction lawyer should serve. Back in 2013, I discussed how those of us that practice construction law are seen as “necessary evils.” I was thinking over the weekend about certain clients and matters (as I often do, particularly in the shower) and came to the conclusion that the best role for me as a Virginia construction attorney is that of counselor and sounding board for my clients. Sure I come from a litigation background, enjoy working with other construction lawyers here in the Commonwealth, and often the first contact that I have with clients is when there is a problem, but I enjoy my practice, and I believe clients are more satisfied with their interactions with me when I try and provide a more cost effective and pragmatic solution than that which litigation or arbitration provides.
The six years of solo construction practice since 2013 (yes, I’m close to the 9 year mark with my practice) has only served to cement the fact that construction professionals need and want the “counselor” portion of “attorney and counselor at law.” Working as a sort of “in house counsel” to various construction companies, as opposed to simply dealing with the litigation, allows me to better understand their businesses and assist them in avoiding problems through contract review, discussions of situations that come up short of claims, and general risk management. I also get to know these mostly small business owners on a more personal level (sometimes even resulting in a fishing trip or two).
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The Law Office of Christopher G. HillMr. Hill may be contacted at
chrisghill@constructionlawva.com