Commercial Real Estate & Business News – August 27, 2021

The Grid seems more like “the gridlock.”Tribune readers asked about the sudden work stoppage on a much-ballyhooed downtown project called The Grid.Indeed, while bulldozers are moving dirt at other construction sites up and down Main Street, there appears to be nothing going on behind the fenced-off areas next to…»
In the face of another legal challenge by landlords of the latest CDC eviction moratorium extension at the behest of the Biden administration, the White House has filed a brief asking the Supreme Court to support the ban. According to some legal experts, it’s unclear that the new spin on the…»
(Bloomberg)—Sales of previously owned U.S. homes rose in July for a second month, indicating firmer housing demand as inventory constraints showed signs of easing.Contract closings increased 2% from the prior month to an annualized 5.99 million, a four-month high, according to figures from the…»
The multifamily sector is reaching record levels of rent growth across the country. Asking rents were up 6.3 percent year-over-year through June and registered a $62—or 4.4 percent—increase in the second quarter of the year, according to Yardi Matrix data. In June alone, national rents expanded by a whopping $23, ballooning to an…»
Student housing developers and operators are bullish on rental demand for the 2021–22 school year as well as for the years to come.“I’ve never been as optimistic about this space as I have been now,” says Wes Rogers, founder and CEO of Landmark Properties, which operates 79 student housing properties totaling a…»