“The first major tax reform in more than three decades, the act recognizes the important contribution that commercial real estate is making to the economy by supporting pro-growth initiatives and acknowledging the long-term nature of commercial real estate investment,” Thomas J. Bisacquino, president of the industry trade group NAIOP, said in a statement. “This legislation represents an important victory for NAIOP members and the commercial real estate industry.”
The apartment market appears to be contradictory. In the midst of a supply boom, formerly sound rent growth has been squeezed to a level below the historical average even though demand has been potent enough to keep vacancies below the historical average, Alford said. More than 3,500 units have been created since 2014, and 1,100 units are under construction.
While presidential travel is common, some ethics experts call this a conflict of interest. Visiting the properties could be viewed as a way to draw attention to the assets, thereby attracting more visitors and allowing Trump to earn a larger profit from them.
Cities have already been witness to a number of changes thanks to a rise in technological advances, as well as a slew of social and environmental changes that took place over the course of the last year.
Phase one will include a striking gateway entrance at the intersection of Johnson Road and Grove Park Place on the north side of the park, designed to “provide lighting, signage, and visually appealing graphics,” per city officials.
Still, “the most pressing issue in our city of this generation is affordable housing,” James said; she stated that in her second term, she would work to address that problem, whether through making “preferential rent” permanent (rather than something a landlord can change or remove at whim), or creating more housing, rather than shelters, for homeless New Yorkers.