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Joseph F. Reilly, Community Development Trust’s president and CEO, talks about how the REIT has performed since its founding, and what he expects for the affordable housing industry in the future.

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Developers have been very slow to restart construction of new condominiums across the United States since the condo crash. But in a few coastal markets like New York City and San Francisco, new condominiums are selling quickly and developers are building in bulk. The high cost of developable land is encouraging condo development in some prime downtown locations.

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New York City Rent Guidelines board voted to freeze rents for tenants signing new or renewal one-year leases in the year beginning Oct. 1. Tenants who opt for two-year leases would pay up to 2% more.

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Ashford Hospitality is selling 23 select-service hotels, reports Bloomberg. Seeking Alpha predicts healthy growth for Wynn Resorts in the long-term. Economists point to low levels of home equity and not enough new product as reasons for the housing shortage, reveals the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

Content Classification: 

Curated

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Using virtual reality, commercial tenants can tour buildings that don’t yet exist.