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While CBRE Research found that work on industrial projects in 16 of the top 20 markets was deemed "essential" and ongoing, a string of factors is slowing construction.
The National Multifamily Housing Council says its latest construction survey "portends potential for the COVID-19 pandemic to further exacerbate the nation's affordable housing shortage."
The Latigo Group secured the construction loan to develop the city's first major multifamily project in more than a decade, as part of the Thousand Oaks Boulevard Specific Plan.
Law firms with big practices in the cruise and hospitality industries are being impacted by the shutdown of these clients, prompting them to seek wiggle room in their office rents.
Phase I of Northpoint Village will have a standalone shopping center and approximately 16,600 square feet of inline space adjacent to the Publix grocery store.
The seller, the Teachers Retirement System of the State of Illinois, purchased the property in a foreclosure auction in 2011 for $57 million, about a 31% decline in its market value.
If the stay at home order were lifted this week, death rates and hospitalizations would start rising sharply by the middle of May. It's projected that the peak death rate and peak resource needs would be almost as high as if there were never any mitigation measures put in place.