DAILY READS: Feb. 12, 2020

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Nearly Half of Migrants to Major Metros Experience Rent Increases

“Most renters moving to a major metro are seeing increased housing costs. A new study from Yardi’s Storage Café analyzed the increased costs for new renters in major metros and found that 48.8% of new entrants into major metros experience an increase in housing costs. On the other hand, 21.3% of new entrants experience a decline in housing costs.”
—GlobeSt.

Photos: Take a Tour of The Star’s New Luxury Residential High-Rise

“The 17-story, 158-unit apartment tower was developed as a joint venture between Dallas Cowboys Owner, President and General Manager Jerry Jones, Cowboys Hall of Fame quarterback Roger Staubach, and Dallas-based developer and Cowboys alum Robert Shaw.”
—Dallas Business Journal

In-Demand Neighborhoods Should Have Even More Affordable Housing, Councilmember Says

“The TOC program has come under fire from several sides, including preservationists and tenant advocates. The program is also at the heart of a lawsuit against the city of Los Angeles filed by Fix the City, a group that has opposed other local proposals that aim to increase density.”
—Curbed Los Angeles

Amazon Drops $51 Million on Bolingbrook Site

“The deal is the latest in a series of acquisitions here for Amazon, which has been gobbling up big chunks of land for the new distribution centers it needs to fill the millions of orders made on its website. In late January, the company confirmed that it’s considering building a warehouse in Pullman. The company also disclosed plans to open a 623,000-square-foot distribution center in Maywood.”
—Crain’s Chicago Business

Experts Warn Owners Not to Dawdle as City Lays Down Local Laws

“Building experts are warning the city’s owners they don’t have time to dawdle over monumental new carbon emission and façade laws. With just four years until Local Law 97 requires all buildings larger than 25,000 s/f to cut their emissions or face hefty fines, and 10 years until the level of emissions is cut further and the fines are increased, Erin Fisher, director of engineering services with CANY, warned, “This law is going to sustain and it is going to hurt – there’s no way around it.”
—Real Estate Weekly

Homeowners Blast Legislations That Would End Local Regulation of Vacation Rentals

“They complained of vacation homes and apartments pricing long-term rental properties out of the market. They blasted “opportunistic investors” who leverage residential property “into major commercial profit” at the expense of unwitting neighbors. And they warned of human traffickers exploiting short-term rentals to hide from the law.”
—Miami Herald

UBS Reportedly Racing to Curb Outflows at Landmark Real Estate Fund

“Investors are standing by to withdraw some $7 billion from the UBS Trumbull Property Fund as a growing number move away from more cautious funds, a person familiar with the matter told the Wall Street Journal.”
—CNBC