This is our last night of class. It went pretty fast because of all the interesting subjects we talked about. Tonight was no exception. We started of talking a transportation and rail lines. Rail is very important to the state of Texas. Rail infrastructure i s very expensive to put in, but it doesn't take a lot of upkeep after in use. San Fransisco has started construction on the first high speed rail system in the United States. It is going to cost 4.2 billion dollars and create 48000 jobs. An interesting conversation in class was about GM and how they gave deep discounts to small towns on buses so they wouldn't utilize the rail system. It was a plan by GM to keep more cars on the road. Population is growth is going to be crazy from reading many articles in the next fifty years. Its expected to grow mostly in the south and west. Transportation infrastructure will have to change to keep up with the growth in population. California has passed a bill that wants cars to drive lower mileage each day to keep carbon emissions lower. This has caused many to think about developing TODs somewhere.
Adaptive reuse is still a niche market, but will change wen everyone shifts back to core urbanization. It is becoming popular for retail and office buildings to move into these kinds of buildings. Owners are getting higher rental rates and also have a lower vacancy.
Some developers don't want to do these projects if they can not get a substantial tax reduction. It's just not affordable if those initiatives are not there.
We had many articles looking at different adaptive reuse projects all over the country.
At the very end of class we talked about what we thought were the major things going on in commercial Real Estate. These were the top 5
-Mix use/ urbanization
-Technology
-Gov. sponsor projects
-sustainability/LEED
-Asset Repositioning
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