Gravel2Gavel Construction & Real Estate Law Blog
Habitat for Humanity builds the nation’s first 3D-printed house, the White House announces infrastructure spending plans for 2022, commercial real estate firms are left to determine their vaccination mandates, and more.
Articles Posted in Real Estate
Tension Over Municipal Gas Bans Creates Uncertainty for Real Estate Developers
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On November 15, 2021, the New York City Council approved a bill banning gas hookups in new buildings, making the biggest city in the U.S. the latest in a string of municipalities to prohibit natural gas infrastructure in new homes and buildings. In the two-and-a-half years since Berkeley, California, passed its then-novel municipal ban on new natural gas infrastructure, numerous cities have found themselves at odds with state governments and industry groups on the issue of full electrification in residential and commercial real estate. The resulting disputes, litigation and regulatory uncertainty have created headaches for the real estate industry. Although not all view the restrictions as negative, and many developers have embraced the push for more climate-neutral buildings, these bans introduce complexity to the real estate market, raising additional legal and commercial challenges.
Real Estate & Construction News Round-Up 01/12/22
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China’s real estate market continues to face difficulty, Biden’s infrastructure development plans for the U.S. involve rehabilitation versus sweeping national buildouts, the value proposition of real estate in the metaverse is questioned, and more.
Real Estate & Construction News Round-Up 01/05/22
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Commercial real estate trends are forecasted for 2022, proptech startups strategize the use of the $32 billion of venture capital raised last year, real estate sales in Manhattan break 30-year records, and more.
Real Estate & Construction News Round-Up 12/15/21
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Proptech and digital real estate are poised for growth in 2022, millennials continue to supercharge the housing market, real estate brokers and agents can leverage gaming technology to showcase property, and more.
Real Estate & Construction News Round-Up 12/08/21
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President Biden signs a new executive order, investments in digital real estate continue to increase, the real estate industry faces new regulatory scrutiny, and more.
Build Back Better Includes Historic Expansion of the Low-Income Housing Tax Credit Program
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On November 19, 2021, the U.S. House of Representatives passed the Build Back Better Act (H.R. 5376), a bill that represents a large portion of the Biden-Harris Administration’s agenda. Among other spending and tax measures, the bill includes an unprecedented expansion of the Low-Income Housing Tax Credit (LIHTC) program. Four proposals are headlining this expansion:
Real Estate & Construction News Round-Up 12/01/21
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Investment firms turn their attention towards acquiring digital land, China works to manage its real estate debt, the European Union announces a multibillion-euro infrastructure bill, and more.
Chairman of the Senate Committee on Banking, Housing and Urban Affairs Calls for CFPB Investigation into Tenant Screening Businesses
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Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, has written to newly confirmed Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, asking him to review companies in the tenant screening industry for possible Fair Credit Reporting Act violations and other violations of U.S. laws. The CFPB, for its part, has already published a bulletin alerting Consumer Reporting Agencies (CRAs) and other furnishers of consumer information that, as federal, state and local pandemic-related housing protections expire, the Bureau will be giving greater enforcement focus to these businesses’ compliance with accuracy and dispute obligations under the Fair Credit Reporting Act (FCRA) and Regulation V. While it is still unclear whether Director Chopra will direct the Bureau to investigate specific businesses flagged by Chairman Brown, the tenant screening industry will likely face increased scrutiny in the coming months, which may impact their service offerings and cause interruptions for landlords relying on these businesses and services.
Real Estate & Construction News Round-Up (11/17/21)
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President Biden signs the bipartisan infrastructure bill into law, plants like hemp and algae could help minimize the environmental footprint of high-rise buildings, construction groups sue over the Occupational Safety and Health Administration’s (OSHA) new vaccine rule, and more.