Gilbane Development Company’s Post

Wrapping up the IMN Mountain West conference with Clayton Turner. What did we learn? 1. Multifamily market in the area still digesting a lot of supply. Completes at a multi decade high but starts are approaching decade low. It may take two years to work off supply. 2. Local trades, like drywallers, are looking at empty order book 6-9 months out and are panicking. This could be when job losses get real led by the high beta construction jobs. 3. Mountain towns still trying to address affordability issues for workforce housing, but local governments are actively trying to address the problem. Denver is not as helpful on affordable housing. 4. Bids and Offers still far apart but no real sense of panic or distress. Deals don’t pencil yet with rates where they are. Thanks to IMN and the great city of Denver for hosting us.

ABERDEEN City Council

In response to this article on elevator construction, regulation, labor, and immigration, I believe a viable solution lies in a business model that leverages the strengths of a 170(b)(1)(A)(vi) designated 501c3 organization in conjunction with a benefit elevator company. Our nonprofit Emi's Elevator, which is the majority owner of Nokes Mountain Elevator Company, aims to address these issues by creating Small, Women-owned, and Minority-owned (SWAM) businesses and job opportunities through targeted apprenticeship programs. Our mission focuses specifically on public, low-income, and subsidized housing sectors, where there is a significant need for the maintenance, servicing, modernization, and new installation of elevator infrastructure. By prioritizing the creation of skilled jobs and fostering entrepreneurship within these underserved housing communities, we can alleviate labor shortages and contribute to economic development. Our approach ensures that workers receive the necessary training and support, promoting a sustainable workforce equipped to meet the demands of the elevator industry. In addition to our focus on housing, we also address elevator infrastructure needs in public facilities, including military bases, rehabilitation centers, hospitals, and other essential public institutions. Ensuring reliable and efficient elevator systems in these facilities not only improves operational efficiency and safety but also supports the well-being of the communities they serve. Moreover, by focusing on the maintenance and modernization of elevator infrastructure in public and subsidized housing, we can contribute to lowering housing costs. Efficient and reliable elevator systems reduce the overall maintenance costs for housing authorities, which can translate into lower rents and fees for residents. Additionally, by creating job opportunities and fostering economic growth within these communities, we help residents achieve financial stability, further reducing the economic pressures associated with housing costs. Through this integrated business model, we not only enhance the quality and safety of elevator systems in both housing and public facilities but also drive social impact by empowering marginalized groups, fostering community resilience, and contributing to more affordable housing and better public services.

Manchester northern quarter 

Have you had a chance to read "Embracing Five Decades of Excellence: The Legacy of Carroll Estates"? 🏡 Explore the journey that has shaped a half-century of Ireland's finest homes. Click the link in our bio. 🔗 #CarrollEstates #LeadingDevelopers #Property #Construction #Dublin #NewHomes #NewDevelopments #50years #Anniversary #Familybusiness

An issue that has been plaguing our housing stock/availability for years. I encourage all to look into this issue in hopes that a common-sense solution will be enacted allowing for a more robust, healthy housing/economic development ecosystem for all.

Leeds South West

An interesting panel discussion yesterday hosted by Insider Media. With development in Bristol being so expensive the panel discussed how we balance the need for affordable housing without losing sight of the other important issues, such as the environment, and still ensure good place-making and quality for future generations. As pointed out by Nick Sturge MBE, Bristol has a huge pool of talent which needs to be supported with better infrastructure, versatile commercial space and homes located to support growing sectors, such as our diverse Tech sector. But it's not just about homes, there is still a huge demand for Cat A office space, and David North spoke about the difference it has made to the Osborne Clarke team moving to a better quality office both from a well-being perspective and with office attendance. Finally, Richard Bonner asked that we all continue to support the idea for a rapid transport system, which is a key solution to many of Bristol's challenges although still a long way off - unbelievably Bristol is the only core city in the UK without one! Investment is crucial for Bristol to achieve its future aspirations. Examples such as Bristol Temple Quarter are paving the way to a built environment that is hopefully greener, more inclusive and showcases our unique City for generations to come. #Bristol #Buildingforthefuture

River Thames: Richmond upon Thames

Had an excellent time at The Real Estate Council of Greater Fort Worth 2024 Commercial Real Estate Forecast this morning. Each panel did a fantastic job articulating the Current vs. Future State of each asset class throughout DFW. From a Risk Management standpoint, a couple questions I think leaders should contemplate are: Does my Property & Casualty program align with my aggregate strategy heading into 2024? - In response to current market conditions, key players are considering diversifying asset classes within their portfolios. Whether it be via acquisition or adaptive reuse, have you considered how your liability exposures will evolve as a result? On the Development side, how are my Builders' Risk policies taking elongated lead times and fluctuating construction costs into account? - Although budgets are tightening in response to market conditions, Property/Builders' Risk rates continue to rise. Are you adjusting your approach to the market, or sticking with the status quo? If it's the latter, you're losing money in one way or another. One thing is certain: DFW's CRE market is going to continue to grow and evolve. Work with your P&C Broker to ensure your approach to addressing your exposures does too.