Commercial Real Estate & Business News October 19, 2018

The numbers: The U.S. rolled into the fall on a “strong growth trajectory,” though the economy could slow in 2019 if weakness in the housing and stock markets persist, according to an index that measures the nation’s economic health. The leading economic index rose 0.5% in September after 0.4% and 0.7% gains in the prior two…»
The minutes of the September Federal Open Market Committee meeting confirmed speculation that Federal Reserve policy makers are leaning toward pushing interest rates above levels considered to be neutral, which neither stimulate nor restrain the economy. That sounds ominous, but it is important not to worry too much yet over the prospect of restrictive policy.…»
It’s time for a crash course in a new investment opportunity that could do some good while bringing returns. Billionaire Sean Parker, co-founder of Napster and former president of Facebook, worked alongside lawmakers to put forth a program that the real estate industry is buzzing about: Opportunity Zones. There are 8,700 Opportunity Zones.…»
True North Studio, LLC, a commercial real estate development company located in Phoenix, announced a new project in collaboration with Choice Hotels International, Inc., one of the world’s largest lodging franchisors. The Cambria hotel in downtown Phoenix – Roosevelt Row Arts District has started construction and is set to open in late 2019.…»
With 691 new condominiums under construction in metro Phoenix, another 711 are in the pipeline, according to a September data report from Polaris Pacific. “What’s interesting about the new stuff coming online, a lot of it is really high end,” said Crel Vogel, regional sales manager for San Francisco-based Polaris Pacific’s Arizona market. Optima Kierland, a high-end condominium…»