- White House to Unveil Steps Aimed at Easing Housing Supply Shortage “One change would allow Fannie and Freddie to invest more of their resources into rental housing by boosting an existing regulatory cap on their investments in apartment projects supported by the Low-Income Housing Tax Credit. A second would expand an existing competitive grant program for Community Development Financial Institutions, to encourage affordable housing production.” (The Wall Street Journal)
- Garden State seeks to go green, enables C-PACE “C-PACE, short for Commercial Property Assessed Clean Energy, sounds like a loan, but it’s not. Instead, it is recorded as a property tax assessment, which is why states and municipalities must pass legislation to enable it. So far, 37 states have done so, according to PACE Nation, an industry advocacy group.” (The Real Deal)
- More Than Half Of Employers Anticipate Instituting A Vaccine Mandate This Year “About 52% of employers anticipate instituting a vaccine mandate by the end of the year, according to a survey from consulting firm Willis Towers Watson of nearly 1,000 companies that collectively employ 10 million people, Bloomberg and The New York Times report. About 21% of survey respondents have already instituted mandates.” (Bisnow)
- Walmart is teaming up with Instacart to take another shot at delivering groceries in New York City “Walmart previously offered grocery delivery in New York through its Jet.com service, which was shut down in 2020. Aside from this, the retail giant has made few moves into the New York City market and does not currently have stores there.” (Insider)
- When Will Offices Be Full Again? “Companies including Apple, Amazon and Starbucks have rescheduled with similar frequency, and it’s becoming difficult to take new announcements about back-to-office plans seriously. American Airlines, Twitter, The Times and others have decided not to set a new date for reopening their offices.” (The New York Times)
- REIT Invests Hundreds Of Millions In Luxury Trailers Used By Hollywood A-Listers “Star Waggons is now known for its high-end and multicast trailers, as well as makeup, wardrobe, production and other specialized trailers, with a fleet of more than 650 units in Los Angeles, Albuquerque, New Mexico, Atlanta and Vancouver. Lyle Waggoner's son and Star Waggons President Jason Waggoner will continue to lead the business, and his brother Beau Waggoner will remain as an adviser.” (Bisnow)
- Walmart Will Add 20,000 Workers to Supply-Chain Operations This Year “The hiring comes as retailers and logistics operators are moving their peak-season preparations forward as they grapple with a tight labor market, congested shipping networks and surging supply-chain volatility. Last year, Walmart brought on some 20,000 seasonal workers at e-commerce facilities, including pop-up online fulfillment sites, as the company and others fielded unprecedented digital sales demand during the first year of the coronavirus pandemic.” (The Wall Street Journal)
- Stranger than fiction: The great digital real estate land grab “The Metaverse concept dates back at least three decades. Novels including 1992’s ‘Snow Crash,’ whose author, Neal Stephenson, is credited with inventing the term, and films such as ‘The Matrix,’ in 1999, stoked interest in virtual worlds. The concept matured in the past five years with the rise of popular games like Fortnite and Roblox — and especially the explosion of cryptocurrency, the backbone of the Metaverse’s system of value creation.” (The Real Deal)
- PG&E wins approval for SF HQ sale, $400 million in savings head to customers “PG&E has won approval to sell its San Francisco headquarters, a deal that clears the way for PG&E to shift its head offices to Oakland — and steer hundreds of millions in savings towards ratepayers. State regulators have approved PG&E’s proposal to sell multiple office towers in San Francisco to a group led by real estate development giant Hines for $800 million.” (The Mercury News)
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