South Carolina Abandoned Building Incentives at Risk of Going Away
Across the United States, empty office buildings have become a common sight. According to Moody’s Analytics, office vacancies are at their highest since the 1990s. The COVID hangover has left us with an abundance of vacant or...more
Vacancy rates across the state are showing improvement, particularly in San Francisco, which reflects California’s housing shortage. Demand also remains strong, and supply is growing, suggesting confidence in the sector...more
With another interest rate cut, the capital markets appear to be more promising for real estate transactions; time will tell how this month’s elections will impact the real estate industry. ...more
It’s “Love your High Street Week”! So, what better way to start the week than to consider two significant legal reforms announced by the government last week, that are intended to boost and revitalise the High Street...more
New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more
Governor Newsom recently approved multiple state housing bills passed by the State Assembly and Senate. The following is a summary of a few of the key bills that are expected to benefit multi-family, mixed-income housing...more
Amid strong industry objection to its proposed rental auctions scheme for vacant high street premises, the government has launched an open consultation to seek views on matters that will form part of the scheme, first...more
Local landlords and owner-groups filed a lawsuit in San Francisco Superior Court last week in response to the recently-passed Proposition M, also known as the Empty Homes Tax Ordinance. We previously covered the new San...more
Voters in San Francisco and Oakland approved two measures with significant implications for residential property owners: San Francisco’s Proposition M, also known as the Empty Homes Tax, and Oakland’s Measure V, which expands...more
Following recent court decisions, the options available to an owner of empty business premises to avoid a liability for empty property rates have been reduced. This matters because no rates are payable for the first...more
Since January 2021, multiple proposals were introduced in the New York State legislature to permit underutilized hotel and/or office buildings, many of which have become financially distressed due to the COVID-19 pandemic, to...more
The two taxes in England on the occupation of property are non-domestic rating and, for domestic rating, council tax. Pre COVID, business rates yielded £30bn and council tax £36bn annually. Rates are payable on business...more
A lead agency was not required to evaluate the housing-related impacts of a proposed hotel in a vacant building that was formerly used for rental housing. Hollywoodians Encouraging Rental Opportunities v. City of Los Angeles,...more