Commercial Real Estate & Business News – April 29, 2015

A government mortgage agency says it needs more resources to police the growing ranks of companies rushing to fill the void left by big banks that have stepped away from the market for riskier home loans. Ginnie Mae is asking for more staff in part to vet the rising number of nonbank lenders making loans insured by the Federal Housing Administration, whose program makes it possible for borrowers with weaker credit to get loans with down payments as low as 3.5%… Read more »
Young adults with autism have the chance to live on their own for the first time, now that a mixed-use residential property is being built in Phoenix. Denise Resnik, co-founder of Southwest Autism Research & Resource Center, said she is looking forward to her 23-year-old son Matthew moving into the new facility at Third Street and Catalina Drive in midtown Phoenix… Read more »
Demand for industrial real estate registered a marked pullback, associated with a sharp drop in new construction during the first quarter of 2015. A combination of weak economic activity and inclement weather interrupted the steep rise in net absorption and completions evident throughout 2014. Just as industrial real estate activity slowed in response to weak GDP growth in early 2014, early 2015 results appear to be following a similar path…Read more »
The grocery industry continues to evolve as it responds to the changes in consumers’ demographic profiles and needs. This is evidenced by many national grocery stores going through consolidations and reinventions in response to competition from the ethnic operators as well as niche grocery operators such as Whole Foods, Trader Joe’s and value-oriented brands like Walmart… Read more »
Developers have broken the barriers to downtown development. “About a quarter of what’s being built is being built downtown,” says Francis Yuen, senior real estate economist at CoStar. Downtown areas can be difficult places to build apartments simply because there is limited land for new construction projects. But in recent years, developers have been highly motivated to overcome the barriers to build downtown… Read more »