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Exact(34)
This could reduce new affordable housing construction and renovations of existing properties, experts say.
But a dearth of hotels in the development pipeline is good news for the owners of existing properties.
According to its inspectors, Peabody focused too much on cutting edge design at the expense of existing properties.
What the plan is missing is a strategy to encourage retrofits of existing properties.
But new-build will always be a pin-prick against the awesome stock of existing properties, and those empty and under-used.
Operators of existing properties have tightened controls over who and what comes into buildings and are limiting assess to designated areas within the structures.
Similar(26)
Buying them was my own take on the strangeness of existing property demarcation lines.
The value of this option may be particularly high in New York City, as witnessed by the many conversions of existing property throughout the city.
If a surge in demand pushes the price of existing property above its replacement cost, developers have an incentive to build more.
In a speech to the New York University Real Estate Institute, he said that he was encouraged by the fact that construction had slowed and the cost of building had increased significantly, enhancing the value of existing property.
New industrial construction in Manhattan is a rarity, and a large multistory building for a single private user, with no reconstruction of existing property on the site, is almost unheard of.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com