Vornado Realty Trust’s Post

Penn Plaza, once called one of New York City's dingiest neighborhoods, has been transformed into The Penn District, a vibrant tech hub. Spearheaded by Vornado Realty Trust, which owns 10 million square feet in the area, the $65 million makeover has attracted tech giants like Meta, Amazon, and Apple. Vornado's redevelopment includes upgraded buildings, new retail options, and the creation of Plaza 33—a pedestrian-friendly oasis. This transformation highlights the potential for real estate developers to revitalize urban landscapes and create thriving, community-focused spaces. Read more about this remarkable transformation and Vornado's visionary efforts in the full article - https://lnkd.in/eZufHpyz Vornado Realty Trust, Bridget Cunningham, Matthew McAvoy #UrbanDevelopment #BOMANY #CommercialRealEstate #Vornado #PennDistrict #NYC

Today, I had the opportunity moderate the ACRE Inland Empire City Showcase. We had 13 cities present including Town of Apple Valley, California, City of Fontana, City of Hesperia, City of Lake Elsinore, City of Menifee, City of Moreno Valley, City of Murrieta, City of Ontario, City of Redlands, City of Rancho Cucamonga, City of Riverside, City of San Bernardino, and the City of Eastvale, CA. It was a ton of information, but some overall themes included: 1. Increased densification with residential being the dominant product type driving most retail or office related projects. We will see a lot more 4 story and higher projects with attached parking structures. 2. A focus on downtown revitalization or downtown development. 3. Increased architectual requirements - if it's new, it is going to be attractive. 4. Cities reexaming property that they own or control, especially where parking lots are involved in an effort to create the type of product listed above. 5. A focus on the environment with these new projects including encouraging residential development near public transportion hubs. Below I am pictured with Rhonesia Perry, MBA with Fontana, Amanda Hernandez, MBA with the City of San Bernardino, and Orlando Acevedo, MBA with the Town of Apple Valley. We had great conversation about all the opportunties and obstacles that they face when trying to accomplish their goals.

Alright Chicagoans. I have been talking about Chicago with many recently and a theme has come to mind -  We are like the team you love - all the right players, the right facilities and what should be a championship team, but that same team is playing not to lose instead of to win. NYC is playing to win - win the future of urban living - taking congestion (large costs - productivity mainly) and turning it into an opportunity to invest in the future (funds go to public transit). Even places like ....wait...HOUSTON is having a vision! WTF. Where are the engaged Chicagoans who want to speak up about pedestrian streets, bike lanes, and quality of life measures? While this is a business forum more than politics (should stay that way), we really need the Chicago business community to start having some imagination on what this city can be. We have the infrastructure in place, we have the density, the cultural institutions, the lakefront and the food. Can't we start leveraging that foundation and look ahead? Shit, even a car centric place like Houston is starting to understand quality of life issues matter. https://lnkd.in/gyDFuyyU

More of this! The fundamentals are here. Let’s all get more engaged and change the narrative.

Downtowns across America are still struggling to adapt to a post-pandemic economy. Boston is no exception.   Blank storefronts and half-empty skyscrapers mean wasted opportunities — but it's not all doom and gloom. The Ideas team at The Boston Globe has spent the last month pulling together a special issue imagining a reinvented identity for downtown Boston. Read the whole series —> https://lnkd.in/eu4qqE97 Yours truly chipped in with a peek at downtown’s recovery by the numbers. The takeaway? Make downtown’s economy more diverse, and more resilient. Check out the charts and map. –> https://lnkd.in/ejfAcNe7   Rachel Slade thinks we should turn all those office buildings into little manufacturing hubs – not apartments. Read her take here –> https://lnkd.in/edjhx8kx   Kara Miller wants the city to make downtown better for the families that live there (more than 2,000 of them!). Better access to schools would be a good start, she writes. –> https://lnkd.in/ewBZETXi   Ideas columnist David Scharfenberg thinks the urban “doom loopers” are being too pessimistic. There’s some evidence that Boston’s downtown is doing just fine. Read David’s column. –> https://lnkd.in/e-sVX5VW   Globe Columnist Shirley Leung rounded up the best ideas for reinventing downtown from other cities. Here’s one: lease empty storefronts to entrepreneurs for free. Read the full list –> https://lnkd.in/eKAV2KJ5   And Sarah Whiting, the dean of Harvard University’s Graduate School of Design, reminds us why downtowns matter. –> https://lnkd.in/etcufeh8    

The City of Yes Plan proposes bringing NYC's antiquated zoning into 2023. It seeks to address zoning that just doesn't make sense, allow more ground floor businesses, and looks to innovation to create more opportunities for housing. Dan Garodnick and his entire team at the NYC Department of City Planning have done some great work to open opportunities for New Yorkers and the region. My only caution would be in our Industrial Business Zones. These areas are great drivers for opportunity and provide the careers for great economic mobility. They also stabilize our local and regional economies. We need to: Redefine Industrial Business Zones and support them with enhanced infrastructure and funding to support manufacturing. Open our waterfronts and demystify industrial corridors while making way for public space and tourism while investing in our regional supply chain Invest in makers, creatives, and small shop manufacturing Work with existing concepts like the Industrial Developer Fund to keep rents low and allow businesses to buy their warehouses and shops. At the heart of all of this is investing in our Industrial Business Zones to build hyper localized, custom action plans to better position our City's industrial, manufacturing, and maker sectors.

What We’re Reading…"Revitalizing Downtown: The Future of Brick and Mortar Retail" This article explores San José's innovative approaches to revitalizing its city center. This revitalization effort is a blueprint for cities aiming to rejuvenate their downtown areas. Their strategies include: 🔹Integrating San José State University: Enhance the connection between the university and downtown to create a vibrant university district. 🔹Adaptive Reuse of Vacant Office Space: Explore converting empty offices into housing or other useful spaces. 🔹Rethinking Ground-Floor Retail: Mix retail with community services and crafts, adapting to younger generations' preferences. 🔹Emphasizing Placemaking: Use public spaces for arts, parks, and cultural amenities, learning from the Al Fresco Initiative. 🔹Supporting Small Businesses: Offer resources, grants, and friendlier regulations to help small businesses thrive downtown. For more details on these strategies, read the full article here: https://lnkd.in/gAEsFbXN

"The Gateway Mall can become the city’s family room, a place that welcomes everyone and positions culture, creativity, and joy as drivers of economic competitiveness.” Check out this great article from ULI St. Louis!

The Future is Cleveland! 🏙️ Have you been following the incredible transformations happening in #TheLand? Cleveland is The Land Taking the World by Storm, captivating attention with its revitalization trends that promise an exhilarating future! Reimagining Downtown Cleveland: The city is evolving into an innovative 18-hour, 15-minute neighborhood, setting a model for urban development. 🗞 The Washington Post acknowledges Cleveland's Public Square as a beacon inspiring other cities to transform. https://lnkd.in/evHcKTPi 🗞 Spectrum News highlights how our city is basking in the national spotlight for downtown revitalization. https://lnkd.in/enDTG6AV Embracing the Waterfront: Connecting the lakefront to downtown Cleveland is a game-changer! 🗞 Bloomberg notes that people now see this post-industrial heart as not just a place to work, but to live. https://lnkd.in/eCg5GgtN 🗞 The Athletic emphasizes the potential impact of revitalizing the lakefront – it could go a long way in shaping our city's future. https://lnkd.in/eMgmRDiN 💭 Now, I'm curious – which trend resonates with you the most? How do you envision these transformative initiatives shaping the future of Cleveland? Share your thoughts below! #TheLandForLife #Cleveland #Revitalization

Listed For Sale - 16,000 +/- square foot class B office building in Douglasville. Property is occupied by several long term tenants many with recently renewed leases. Building is fully leased. Recent updates include HVAC and plumbing. For more information Email [email protected] or visit: https://lnkd.in/gqQH-RqR Douglasville, GA: A city on the rise! Exciting growth and opportunities are transforming this vibrant community. Large economic developments like Sam's Club’s new fulfillment center in Douglas County, creating 600 jobs and investing over $142 million will significantly boost the local economy and increase the need for new thriving businesses and expansions. Douglasville is also becoming a destination for movie magic. Lionsgate Studios has chosen the city for its new film and TV complex, "Great Point Studios." Covering 40 acres and costing $160 million, this state-of-the-art facility will feature 11 sound stages. It promises to be an epicenter for creativity and a haven for filmmakers. Amidst this wave of development, Douglasville maintains its charm and sense of community. Historic downtown offers unique shops and delightful dining options. Located near Atlanta, Douglasville provides easy access to the city's opportunities while offering a close-knit community where neighbors support each other and local businesses thrive. #community #growth #douglasville #atlantametro #CRE #officeforsale #NNNinvestments #commercialforsale #atlantacommercialgroup #ACG #realestate #atlcre #atlantarealestate