Maria Lukens

I asked Salil Simon Payappilly about BioMed Realty's Gateway of Pacific, the 2.2 million-square-foot lab and office development in South San Francisco. Of course, I needed to know more about the project's sustainability features, as well as the company's overall sustainability strategy. #letstalk #realestate #sustainability #biotech #lifesciences #climateregulation #CPETalks

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RTO is a big component of the future for downtown San Francisco. People wonder about the ability to recover from record office vacancy levels. The basics in the Bay Area remain the same. Great place to live, great talent/innovation base, outstanding educational institutions pumping out job creators, plenty of VC backing and so on. This article might provide insight into the future of remote work as option to RTO and the subsequent SF recovery. https://lnkd.in/gCZBbmkG

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"Market fundamentals presented an optimistic outlook for the greater Portland multifamily market in Q2 2024. Demand, as measured by the number of units absorbed, surpassed new supply for the first time since Q1 2021. For every unit delivered, 1.46 units were absorbed by the market." "There are currently 7,499 new units under construction, according to Colliers' Q2 report. That compares to about 9,000 units in 2023." Falling supply = increasing occupancy/increasing rents https://lnkd.in/gFtbWtiC https://lnkd.in/gGDW55bA

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In the first 6 months of 2024 the Puget Sound saw it's strongest office leasing activity since before the pandemic. Over 1.3 million square feet of office space was leased in Seattle, and nearly 2 million square feet was leased on the Eastside. It's the first of many steps in the right direction, but there's still a long way to go. ▪ The 1.3 million square feet leased in Seattle accounted for just 6% of all available office space. ▪ The vacancy rate in Seattle’s CBD is still 28% (compared to 6% pre-pandemic), and the availability rate is 32% (compared to 10% pre-pandemic) ▪ The 2 million square feet leased in Bellevue accounted for 20% of all available office space, which is significant. ▪ This leasing activity was heavily buoyed by a handful of large leases from the likes of Pokemon, Snowflake, and ByteDance (TikTok), which accounted for almost 50% of the 2 million square feet leased in Bellevue this year. ▪ As a result, Bellevue’s vacancy rate is just 10% (though it was 3% pre-pandemic). ▪ However, it’s important to note that Bellevue’s availability rate is 25% (compared to 5% pre-pandemic). ▪ Just as a few key tenants have carried the market’s leasing activity this year, a few have also accounted for it’s impending availability. Most notably, Microsoft and Meta. ▪ By 2028 Microsoft plans to shed 2 million square feet of office space in Bellevue to consolidate their footprint to Redmond. If you're a tenant in the greater Seattle area don't get fooled by headlines or narratives around large leases or gross leasing activity. It's still a tenant's market, and will be for a long time.

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As California continues to face an unprecedented housing crunch, accessory dwelling units (ADUs) have emerged as a promising solution to bolster housing stock in existing neighborhoods. The journey to approval can vary widely, raising the question: how long does it take to get a building permit approved? We have put together a guide to Understanding the ADU Permitting Process in California. Access it here: https://bit.ly/3xQP7dX We hope it's beneficial to your ADU planning. #accessorydwellingunit #accessorydwellingunits #adu #aduamerica #adudesign #aduready #awesomedwellingunit #casita #guesthouse #builder #construction #contractor #steelbuilthome #prefab #modularhome #california #californiarealestate #Sacramento #LosAngelesRealEstate #OCRealEstate #design #designbuild #garageconversion #homedesign #homeremodeling #interiordesign #renovation #home #homeoffice #housing #modularhome #prefab #DesignToDoorstep

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🏙️ Seattle & Puget Sound Apartment Market Update - May 2024 🏙️ Take a look at the insights from my latest PNW market analysis! 📊 Key takeaways: 🏅 Seattle ranked #6 among 1,000 global cities 🌆 Tremendous growth in Bellevue 📈 Growth and absorption in Seattle 💼 Greater interest from buyers 💰 Don't miss the best buying opportunity 🏢 Owners, request a valuation to understand your property’s value Excited to connect with you! Give me or my team a call today: https://lnkd.in/gDZsMMAs. Navigating the evolving landscape requires staying informed and adaptable. Watch the full video for an in-depth look at current trends and projections. ⬇️ https://lnkd.in/geY89tCX #washingtonrealestate #pugetsoundrealestate #pnwrealestate #seattlerealestate #apartmentinvestments #realestateinvesting #apartmentmarkettrends #pugetsoundmultifamily #multifamilyInvesting #apartmeniInvestments #realestateInvesting

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🔥I’m excited to share some significant updates on our progress and developments at Collab. 🏠Since the onset of the student housing leasing season in March 2024, we've observed a robust rental market in Berkeley, CA. Additionally, there has been an influx of studio units from new development projects in Berkeley. Unlike most of these new units, which are situated beyond walking distance from the UCB campus, all Collab properties are conveniently located within a 5-7 minute walk to campus, maintaining our competitive edge in Berkeley’s student housing market. 👍The rental markets in Boston, MA, and New Brunswick, NJ continue to show strong demand. This year, we have successfully implemented an average rent increase of 10% in both markets. 🤝We are also on the brink of finalizing our Board of Advisors in June. I am immensely thankful for the steadfast commitment of our investors and tenants. The board will include three to five (3-5) professionals from the real estate and technology sectors, along with two (2) of our valued Collab crowdfunding investors and two (2) of our Collab community pro tenants, all dedicated to fostering the growth of Collab's business and community. We will officially announce the names of the Collab Advisors by mid-June 2024. 💰I am thrilled to announce that Collab has initiated the IPO (initial public offering) process for the Collab Community Property Management (CCPM) platform this month. Positioned as a pioneering proptech company, CCPM is poised to be the 'Uber' of the property management industry. A select group of our crowdfunding investors and tenants will be offered common stock at a pre-IPO valuation. 🙏Thank you all for your unwavering support and understanding during this transformative period. As always, I remain committed to positioning Collab as a leader in today's real estate industry. #Investwithcollab #usrealestate #SEC #PassiveIncome #democratizingrealestate #buildweath #Collab

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If you’re a planner, houser, city employee, or other interested party - check out this PolicyLink webinar with the Othering & Belonging Institute at UC Berkeley

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NEWSFLASH! King County, WA just published its Civic Campus report, a detailed proposal to revitalize and modernize King County's Downtown Seattle campus, spanning seven blocks and eight buildings that house key offices and functions, including executive and legislative branches, courts, and corrections. These facilities currently struggle to provide high-quality services to residents and employees, with many in need of repair and underutilized. Partners in the visioning process that began in 2018 included a diverse community advisory group and a government partners table with representatives from all branches of King County's government, the City of Seattle, Sound Transit, and 4Culture. The Civic Campus report also involved collaborations with the Urban Land Institute’s 2024 Hines Competition and the University of Washington College of Built Environments. (I was honored to play a small role here!) Objectives of the Civic Campus project focus on enhancing accessibility, upgrading facilities, promoting sustainability, and fostering community engagement. The proposed initiative includes renovating existing structures, constructing new buildings, and developing public spaces to support expanded functions and services. Learn more about King County's strategies for Downtown Seattle revitalization in their Civic Campus report:

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One could argue that manufactured housing, including ADUs, is a key solution in the battle to create more #affordablehousing units. Financing is still in short supply for factory-built homes that are titled as real estate. But it's interesting to see that 1 in 5 new homes in #California are now ADUs.

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My update for #USNews on the most overvalued housing markets based on local incomes has just been published: > The most overvalued markets to purchase a home tend to be located along the California coast, as well as in tourist-popular Hawaii, tech-heavy Seattle and holdover “Zoomtowns” in Colorado, Idaho and Utah. > The most overvalued markets to rent a home are led by MSAs in Hawaii, California, New York, South Carolina and Florida. > You’ll pay the most to buy a median-priced home versus renting in the San Francisco Bay Area and on the Hawaiian island of Maui as well as elsewhere in California, Washington, Utah and Oregon. #housingmarket #overvaluedhousingmarkets #realestate #economy #homeprices #incomes #mortgagerates

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This is one of my favorite views to see the impact of the pandemic across major metro areas. This example uses the 3 metros surrounding the Puget Sound. The graph on the far left has a bit of pre-pandemic in it, when the more affordable West and South Sound reigned supreme. The low interest rates of the 1st two years of the pandemic drove home price growth across the Sound, even in the core City of Seattle (Zip Code views show values falling downtown). But check out where the most heat was: the more expensive suburban neighborhoods of North and East Puget Sound. Low mortgage rates are even more impactful to households with existing wealth, since now they can better leverage it. Here we're watching sub-3% mortgage rates taking home values higher in the more expensive cities. They then declined more to correct for it in those same areas in 2023 when rates swung up mid-2022, reaching 7% by 2023. Today we're back to that pattern of stronger appreciation in the more affluent cities of the Puget Sound. But the story is probably a little different. Today, many households in the middle, not just lower even, are now unable to qualify for a new mortgage. Younger households and first-time buyers, without past equity and the time to build up savings, would be feeling higher rent and higher grocery bills most. And the data reflects that. Anyways, back to crunch April numbers. #Housing #PugetSound #RealEstate Hi Zillow peeps!

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Citizens of Redwood City will face one of the most regressive rent control propositions in the Bay Area at the voting polls this November. This is not City led - this is the provocation of misguided tenant groups that would hamstring a city that has made incredible strides in building affordable housing, promoting smart development, and furthering sustainability goals. As written: - Annual rent increases would be restricted to just 60% of the local Consumer Price Index rise, with a maximum limit of 5% - Mandating that landlords offer relocation assistance equal to four times the monthly fair market rent or $8,000, whichever is higher, for no-fault evictions. - Charging landlords an annual fee to fund the administrative costs of this program. Rent control kills development, no development means no supply, and no supply leads to substandard housing stock and an accelerating lack of affordability. If you know of someone who rents in Redwood City, is a homeowner, owns rental property, or understands that only smart development can solve the housing crises please spread the word. https://lnkd.in/gPJyPApZ

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Read our detailed market report to learn why Orange County, California remains highly desirable for renters of all ages due to its attractive job opportunities, highly ranked public school systems, moderate climate, and relatively low rate of crime. https://lnkd.in/gCFbYiuu #MarketReport #CRE #MultifamilyRealEstateD

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The startup community is crucial for the Puget Sound region's growth and vibrancy. The recent drop in rankings doesn't align well with our recovery timeline. Meanwhile, the Bay Area shows demand for office space matching pre-pandemic levels, largely driven by AI companies. Despite their unique recovery path, this demand coincides with their #1 global ranking as a startup ecosystem. https://lnkd.in/gAR4tXeb

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 Alice Leung is the Vice President for Platform and Product Strategy at Brick & Mortar Ventures. She began her career working on major construction projects in the San Francisco Bay Area, including UCSF Medical Center and Lucile Packard Children’s Hospital. During this time, she championed the use of construction technology to improve efficiency on project sites. Her experience working in the US and Singapore demonstrates her understanding of the construction industry on an international scale. On Wednesday 5th June, at Bricks & Bytes, we sit down with Alice for round 2! And we need your help. 𝐋𝐞𝐭 𝐮𝐬 𝐤𝐧𝐨𝐰 𝐲𝐨𝐮𝐫 𝐜𝐡𝐨𝐢𝐜𝐞 𝐨𝐟 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐬 𝐛𝐞𝐥𝐨𝐰 👇👇👇 QUESTIONS: A) What excites you most about the startups Brick & Mortar Ventures invests in? B) What surprised you most about the differences in the construction industry between the US and Singapore? C) Other (please post below)

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In the midst of housing crises and development challenges, Downtown Los Angeles (DTLA) recently launched the ambitious DTLA 2040 plan. This visionary initiative is set to revitalize DTLA into an inclusive, dynamic district, addressing housing, zoning, and growth with innovative solutions. "We took a long-term view," explained Garrett Rapsilber, highlighting the extensive analysis HR&A Advisors conducted with the city of Downtown LA. This collaborative effort involved examining 10 different submarkets, each with unique market conditions and development goals and guidelines, ensuring the plan’s adaptability to diverse neighborhood contexts, such as with the application of a new inclusionary zoning and community benefits system. At a recent Urban Land Institute Los Angeles event, experts including Garrett Rapsilber from HR&A Advisors, Clare Kelley from the City of Los Angeles Mayor’s Office of Business and Economic Development, and Mark Oberholzer from KTGY shared insights into the transformative potential of the plan. Rapsilber underscored HR&A's contribution in fostering balanced growth, diverse development, and streamlined processes. DTLA 2040 forecasts 175,000 new residents, 100,000 housing units, and 100,000 jobs, significantly increasing housing density and enabling flexible growth. With broad support and a focus on affordability, accessibility, and sustainability, DTLA 2040 aims to create a "Downtown for All." As the plan moves into implementation, DTLA is ready for substantial, community-driven growth, serving as a pioneering model for urban development across the LA region and beyond. #DTLA2040 #UrbanDevelopment #CommunityEngagement #Innovation

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