Editor’s Pick

shutterstock_CRETechnology-800x384

Forbes Real Estate Council Predictions For Innovation In Commercial Real Estate

The impact of Covid-19 has greatly been felt across the commercial real estate industry. Many businesses had to shut down, while others moved to work remotely. Few new businesses opened due to the uncertainty the pandemic brought. During this time, there was little need for buying or renting commercial buildings. However, as agents know, the impact of crises on real estate does not last forever.

As the world begins to return to normal, workers are going back to the office and businesses are beginning to open. The demand for commercial real estate is growing, and with this growth come new possibilities for innovation. Below, 11 members of Forbes Real Estate Council predict how the commercial real estate landscape will react to the effects of the global pandemic.

HD-New RD view-Newport Center(1)

East Providence Planning Board approves ‘Newport Center’ mixed-use project

The mixed-use development proposed for the long dormant parcel on Newport Avenue abutted by New Road and Moore Street was approved by the Planning Board at its May 10 meeting. “Newport Center,” as called by owner Schiavo Enterprises, LLC, can move forward with the construction of two four-story apartment buildings, a gas station/convenience store and a commercial outlet, the stated intention for the space to be a grocer.

Layoffs CronaVirus

Over a quarter of Construction Firms Report Layoffs Since The Coronavirus

The fast-worsening covid-19 pandemic has triggered layoffs at more than a quarter of construction firms responding to an online survey released last week by the Associated General Contractors of America. The finding, based on responses from earlier this week, contrasts with the government’s monthly employment report for March, which found that construction employment declined by 29,000 as of mid-March.