Its the latest sign of the deteriorating relations between Mayor Bernard C. Jack Young and the City Council he once headed:

The Board of Estimates today approved a contract to renovate the Druid Hill swimming pool despite the Council not granting permission for a controversial parking lot included in the plan.

Unable to persuade the spending board to defer the contract, City Council President Brandon M. Scott was the lone vote against the $10.1 million item.

Comptroller Joan Pratt acknowledged community concerns about the lack of transparency and the loss of green space, but in the end abstained.

Young and his appointees, City Solicitor Andre M. Davis and Public Works Director Matthew Garbark, voted to approve construction of a new bath house and 79-space parking lot.

The mayor is leapfrogging over us Councilman Ed Reisinger.

The boards action was quickly denounced by the head of the committee that recessed last month without voting on the pool and parking lot. The deferral followed a public hearing on an ordinance required for the parking lot project.

The mayor is leapfrogging over us. The administration is disrespecting the process, disrespecting the Council president, and disrespecting me and my committee, said Ed Reisinger, chairman of the Land Use and Transportation Committee.

Reisinger also blasted Recreation and Parks officials who have been leading the project.

They have a mindset that they dont need to go to the community, he said, pointing to an information session about the project that some residents called insulting.

When they get their check that says theyre being paid by Mayor and City Council, I think they just see the Mayor part, Reisinger fumed.

Todays vote allows construction to begin on a new bath house and pool upgrades but not the parking lot, which still needs conditional-use approval from the Council to move forward.

Reisingers decision to hold off on the parking lot vote came after citizens questioned the idea of paving green space and encouraging more cars in the park. Nearby community groups said they were never briefed on the parking plan.

Im going to keep the bill recessed, Reisinger vowed.

Despite todays contract approval, the 10th District councilman said he would not resume committee deliberations on bill 19-0423. Im going to keep it recessed. We wanted to hear that there was a letter or some indication of support from the community, and I havent received that.

In the background of todays conflict is election-year politics.

Scott and Young are both running for mayor in the Democratic Party primary in April.

Reisinger at first backed Young, but yesterday announced his endorsement of Scott.

At todays board meeting, Scott sought to defer action on the contract.

I have slight confusion how it made it into the Board of Estimates agenda while its still in City Council committee, he said.

Reginald Moore, director of Recreation and Parks, urged immediate action.

Delaying this vote today delays the entire project, not just the parking lot, he said. The parking lot is a smaller component of this larger project.

But Scott asked how that is possible given that the pool and the parking lot are part of the same contract.

Scott said the scope of work in the contract would have to change if the Council rejects the parking lot.

In that case, Moore said the contractor would have to renegotiate the contract, while the city would continue its dialogue with the community.

The reality is having that parking lot is important, Moore said.

Councilman Ryan Dorsey, a strong critic of the parking lot, warned on social media that todays contract award could prompt litigation.

The city could face a lawsuit over this. Its bad gov operation, he tweeted. Altering the scope after awarding would likely give others who bid on the project good reason to say bid/award was unfair.

Several area residents testified today in opposition to the parking lot and on behalf of deferral.

Transit is the best solution, said Graham Coreil-Allen, an artist and transit advocate who lives in Greater Mondawmin. Save our greenspace by replacing the parking lot with a Druid Hill circulator [bus].

Coreil-Allen said the pollution resulting from increased car traffic would worsen already-high rates of asthma in West Baltimore. He noted that two-lane residential streets around the park were widened in the 1950s and 1960s despite protests by the largely Jewish and black communities in the area.

He said the park used to be served by a free shuttlebug. Now the city operates the free Charm City Circulator, which serves downtown and much of the so-called White L.

Druid Hill Park, Auchenteroly Terrace and Mondawmin, he said, deserve the same investment that downtown and other areas get.

Phong Le, a Goucher College professor and president of the Greater Remington Improvement Association, said the city did not communicate well.

Rec and Parks most recent meeting about the pool and parking lot was on the same night as a long-scheduled GRIA forum for City Council candidates.

I feel like we as a community were disrespected by never being contacted, Le said.

Cheryl Bailey Solomon, who lives on Auchenteroly Terrace, also spoke against the lot. We do struggle with just walking across the street, she told the board.

Sarah Hope, a Lauraville resident with a masters degree in landscape architecture, said she supported the parking lot.

The former Rec and Parks employee, who worked at the departments headquarters in Druid Hill Park, said she has used the park thousands of times. She said a parking lot would make it safer for cars and buses to unload kids going to the pool.

She added that, as a cyclist, she may not be making many friends in the cycling community with her testimony.

Read more from the original source:
BOE approves Druid Park pool and parking lot over Scott's objection - Baltimore Brew

DUBLIN, Feb. 26, 2020 /PRNewswire/ -- The "CINV Treatment Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

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The global CINV treatment market studied was projected to grow with a CAGR of nearly 5.8% over the forecast period.

The major factors attributing to the growth of the market are the increasing prevalence of cancer and rising research and development activities for cancer. According to the National Institutes of Health (NIH), in 2018, an estimated 1,735,350 new cases of cancer will be detected in the United States and 609,640 people will die from the disease.

Furthermore, the growing investments in research and development programs by the biotechnology and pharmaceutical companies is boosting the market growth. However, the lack of awareness of the available drugs is the major drawback for market growth.

Key Market Trends

Speciality Clinics Segment is Expected to Grow at a Faster Rate in the Forecast Period

When chemotherapy penetrates the body, sensors in the digestive system and brain detect its presence as a foreign substance. Several substances, including serotonin and substance P, are released, triggering nausea and vomiting reflex. This is the body's effort to get rid of the foreign substance. So the doctors prescribe treatment for the CINV.

The major factor boosting the market growth of the segment is the increasing number of cancer cases globally. As the patient pool increases, there is a growth of chemotherapy and its side effects. The oncology clinics are increasing in number and so does the market growth.North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall CINV treatment market, throughout the forecast period. The market growth is due to factors such as the presence of key players, high prevalence of cancer patients in the region, established healthcare infrastructure, and availability of branded drugs are some of the key factors accountable for its large share in the market.

Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. In the North America region, the United States holds the largest market share due to the factors such as the increasing number of geriatric populations, along with a growing number of patient pools in the country.

Competitive Landscape

The CINV Treatment market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market Merck & Co., Inc., GlaxoSmithKline plc, Heron Therapeutics, Inc., Helsinn Holding S.A., Baxter Healthcare, Sandoz (Novartis AG), Orchid Healthcare, Mylan Pharmaceuticals, Inc., Teva Pharmaceuticals, and Sun Pharma.

Key Topics Covered

1 INTRODUCTION1.1 Study Deliverables1.2 Study Assumptions1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS4.1 Market Overview4.2 Market Drivers4.2.1 Increasing Prevalence of Cancer4.2.2 Rising Research & Development Activities for Cancer Treatments4.3 Market Restraints4.3.1 Lack of Awareness of the Available Drugs4.4 Porter's Five Force Analysis4.4.1 Threat of New Entrants4.4.2 Bargaining Power of Buyers/Consumers4.4.3 Bargaining Power of Suppliers4.4.4 Threat of Substitute Products4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION5.1 By Drug Type5.1.1 5-HT3 inhibitors5.1.2 NK1 inhibitors5.1.3 Others5.2 By End-user5.2.1 Hospitals5.2.2 Specialty Clinics5.2.3 Others5.3 Geography5.3.1 North America5.3.1.1 United States5.3.1.2 Canada5.3.1.3 Mexico5.3.2 Europe5.3.2.1 Germany5.3.2.2 United Kingdom5.3.2.3 France5.3.2.4 Italy5.3.2.5 Spain5.3.2.6 Rest of Europe5.3.3 Asia-Pacific5.3.3.1 China5.3.3.2 Japan5.3.3.3 India5.3.3.4 Australia5.3.3.5 South Korea5.3.3.6 Rest of Asia-Pacific5.3.4 Middle-East and Africa5.3.4.1 GCC5.3.4.2 South Africa5.3.4.3 Rest of Middle-East and Africa5.3.5 South America5.3.5.1 Brazil5.3.5.2 Argentina5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE6.1 Company Profiles6.1.1 Merck & Co. Inc.6.1.2 GlaxoSmithKline plc6.1.3 Heron Therapeutics Inc.6.1.4 Helsinn Holding S.A.6.1.5 Novartis AG6.1.6 Baxter Healthcare6.1.7 Orchid Healthcare6.1.8 Mylan Pharmaceuticals Inc.6.1.9 Sun Pharmaceutical Industries Ltd.6.1.10 Teva Pharmaceutical Industries Ltd.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/71xkzw

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Worldwide CINV Treatment (5-HT3 Inhibitors, NK1 Inhibitors, Others) Industry Insights, 2020 to 2025 - Yahoo Finance

DUBLIN, Feb. 26, 2020 /PRNewswire/ -- The "Genomics Market Size, Share & Trends Analysis Report by Application and Technology (Functional Genomics, Pathway Analysis), by Deliverables (Products, Services), by End Use, by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.

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The global genomics market is expected to reach USD 31.1 billion by 2027, registering a CAGR of 7.7% over the forecast period according to this report. Significant changes in disease management processes along with advancements in genomics and personalized medicine are expected to propel the market.

Increasing pool of market innovators such as 23andMe, Oxford Nanopore Technologies, and Veritas Genetics that have launched breakthrough genomic technologies in recent years are also contributing toward market development. 23andMe has expertise in developing direct-to-consumer genomic tests targeted toward disease prognosis and has recently received FDA approval for its commercialization.

MinION - a trademark sequencing device of Oxford Nanopore Technologies, is witnessing significant traction owing to its ability to sequence any fragment length of DNA in real time. On the other hand, Veritas Genetics offers an affordable solution for a complete readout of the genomic sequence. Earlier procured only by doctors, these tests can now be taken by anyone curious about their DNA and costs approximately USD 1,000. The company has also begun the commercialization of this technique for newborn's genomic sequencing applications in China in 2017.

Further key findings from the report suggest:

Key Topics Covered

Chapter 1 Research Methodology

Chapter 2 Executive Summary2.1 Genomics Market Outlook, 2016-2027

Chapter 3 Industry Outlook3.1 Penetration & Growth Prospects Mapping3.2 Trend Analysis3.2.1 Application Trends3.2.2 Product Trends3.2.3 End-Use Trends3.2.4 Regional Trends3.3 Genomics - Market Dynamics3.3.1 Market Driver Analysis3.3.1.1 Growing Integration of Genomics Data into Clinical Workflows3.3.1.1.1 More Targeted and Personalized Healthcare3.3.1.1.2 Growth of Newborn Genetic Screening Programs3.3.1.1.3 Advancements in Non-invasive Cancer Screening3.3.1.1.4 Military Genomics3.3.1.2 Technological Advances to Facilitate Genomic R&D3.3.1.2.1 Emergence of Advanced Genome Editing Techniques3.3.1.2.2 Integration of New Data Streams3.3.1.2.3 RNA Biology3.3.1.2.4 Single Cell Biology3.3.1.3 Rising Adoption of Direct to Consumer Genomics3.3.1.4 Success of Genetic Tools in Agrigenomics3.3.1.5 Increasing Participation of Different Companies3.3.1.6 Increase in Government Role and Funding in Genomics3.3.2 Market Restraint Analysis3.3.2.1 Issues Regarding Intellectual Property Protection, Data Management, and Public Policies3.3.2.2 Dearth of Skilled Personnel3.4 Opportunity Analysis3.5 Industry Analysis - Porter's3.5.1 Supplier Power - Medium3.5.2 Buyer Power - High3.5.3 Substitution Threat - Low3.5.4 New Entrants Threat - Low3.6 Regulatory Landscape: Genomics - SWOT by PEST Analysis3.6.1 Political Landscape3.6.2 Economic Landscape3.6.3 Social Landscape3.6.4 Technology Landscape3.7 Company Market Share Analysis3.8 Competitive Landscape3.8.1 Strategy Framework3.8.2 Company Categorization3.8.2.1 New Entrants3.8.2.2 Mature Players & Leaders

Chapter 4 Genomics Market Categorization: Deliverable Outlook4.1 Genomics Market Share By Deliverable Outlook, 2016 to 20274.2 Products Market, 2016 to 20274.3 Services Market, 2016 to 2027

Companies Mentioned

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Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Worldwide Genomics Markets, 2020-2027 - Comprehensive Analysis on the $31.1 Billion-Projected Industry - Yahoo Finance

DUBLIN, Feb. 26, 2020 /PRNewswire/ -- The "Billiards and Snooker Equipment Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

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The global billiards and snooker equipment market is projected to grow at a CAGR of 2.3% during the forecast period (2020-2025).

Key Highlights

Market Trends

Growth in Infrastructural Development coupled with Government initiatives

The standard of snooker facilities continues to rise with a growing number of official academies being launched across the world. The rise in the number of grassroots programs in schools, colleges, and clubs is one of the major factors driving the sales of billiards and snooker equipment, globally. Projects, such as World Disability Snooker, the World Women's Snooker Tour, and Cue Zone into Schools, supported by accredited coaching programs, are all now gaining momentum. Additionally, various governing bodies and associations played a significant role in promoting billiards and snooker as a sport.

North America is Leading the market

Strong penetration of cue sports and various recreational activities, along with numerous associations promoting the sport in the region, is expected to boost the demand for billiards and snooker equipment in the region. Favorable support from various governing bodies such as the United States Billiard Association (USBA) is further propelling the demand for billiards and snooker equipment across the region. The major players in the market are adopting online retail strategies to reduce costs and increase their margins, which may benefit the market during the forecast period.

Competitive Landscape

Brunswick Corporation, Diamond Billiard Products, H. Betti Industries, and Birmingham Billiards Ltd are some of the prominent players who are operating in this market. These players are embarking on mergers and acquisitions and entering into partnerships as one of their key strategies to achieve consolidation and optimize their offerings.

Key Topics Covered

1 INTRODUCTION1.1 Study Deliverables1.2 Study Assumptions1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS4.1 Market Drivers4.2 Market Restraints4.3 Porter's Five Forces Analysis4.3.1 Bargaining Power of Suppliers4.3.2 Bargaining Power of Buyers/Consumers4.3.3 Threat of New Entrants4.3.4 Threat of Substitute Products4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION5.1 By Type5.1.1 Carom5.1.2 Pool5.1.3 Snooker5.2 By Equipment5.2.1 Table5.2.2 Ball5.2.3 Cue5.2.4 Other Equipment5.3 By Distribution Channel5.3.1 Offline channel5.3.2 Online channel5.4 Geography5.4.1 North America5.4.1.1 United States5.4.1.2 Canada5.4.1.3 Mexico5.4.1.4 Rest of North America5.4.2 Europe5.4.2.1 Spain5.4.2.2 United Kingdom5.4.2.3 Germany5.4.2.4 France5.4.2.5 Italy5.4.2.6 Belgium5.4.2.7 Rest of Europe5.4.3 Asia Pacific5.4.3.1 China5.4.3.2 Japan5.4.3.3 South Korea5.4.3.4 Vietnam5.4.3.5 Australia5.4.3.6 Rest of Asia-Pacific5.4.4 South America5.4.4.1 Brazil5.4.4.2 Argentina5.4.4.3 Rest of South America5.4.5 Middle East and Africa5.4.5.1 South Africa5.4.5.2 United Arab Emirates5.4.5.3 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE6.1 Most Active Companies6.2 Most Adopted Strategies6.3 Market Share Analysis6.4 Company Profiles6.4.1 Brunswick Corporation6.4.2 Diamond Billiard Products Inc.6.4.3 H. Betti Industries Inc.6.4.4 Birmingham Billiards Ltd.6.4.5 Yalin International Billiard Goods6.4.6 Snooker & Pool Table Company Ltd.6.4.7 Kaldera Billiards6.4.8 Fury

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/5gl73p

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Billiards and Snooker Equipment Market, Forecast to 2025 - Leading Players are Brunswick Corporation, Diamond Billiard Products, H. Betti Industries,...

The Pool Tables Market report starts off from overview of industrial chain structure, and describes the upstream. Besides, the report analyses market size and forecast in different geographies, type and end-use segment, in addition, the report introduces market competition overview among the major companies and companies profiles, besides, market price and channel features are covered in the report.

The Global Pool Tables Market landscape and leading manufacturers offers competitive landscape and market development status including the overview of every individual market players. Furthermore, it offers productive data of vendors including the profile, specifications of product, applications, annual performance in the industry, sales, revenue, investments, acquisitions and mergers, market size, market share, and more.

Pool Tables Market Outlook provides thoughtful analysis of current issues facing the industry, along with current facts and statistics about the production and application in the Market. It covers a detailed overview of various market growth enablers, restraints, Future Forecast and trends.

This Pool Tables Industry report includes Key manufacturers which based on company profile, sales data and product specifications.

Key manufacturers Includes:

- Predator- Xingpai- FURY- Shender- RILEY- CYCLOP- WINOMIN- Lion Sports- Trademark Global- Imperial International- JOY

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Major Type Includes:

- Fancy Nine Tables- American-Style Pocket Table- Snooker Tables- Others

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- Asia-Pacific- North America- Europe- South America- Middle East & Africa

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Pool Tables Market trends, forecast and outlook to 2025 available in the latest report - WhaTech Technology and Markets News

ROUND ROCK Sometime in the next 18 months, Leander is going to have a downtown square to host concerts, festivals, movies in the park, farmers markets and other events, said a developer.

It will be part of a 115-acre, mixed-use project called Northline that will begin construction next week, said Alex Tynberg, the projects developer.

Northline, which will be between Austin Community Colleges San Gabriel campus and St. Davids Hospital, will include shopping, dining, entertainment, apartments, a hotel, offices and townhomes. The project is about of a mile from the Capital Metro rail line stop.

"This could provide a new downtown for Leander," said Mayor Troy Hill.

Leander also may consider building a new City Hall at Northline, Hill said, but that decision would have to be approved by voters.

The city of more than 60,000 residents has very little restaurant or retail development, and most people go to Cedar Park to shop, officials have said.

"Every town is wanting to do their own version of the Domain," Hill said. "What makes ours (Northline) different is that we have the transportation hub right here.

People from Austin can ride the MetroRail to get to entertainment at Northline, he said.

Tynberg said it will be "a super friendly family destination."

"It will be akin to a downtown where you have all the offerings of a downtown district."

Tynberg said the first phase of construction, estimated to last 18 months and scheduled to begin March 4, will include infrastructure such as roads and utilities, as well as a town square, 350 apartments, a few office buildings and some kind of entertainment, including an opportunity for movie theaters. It is estimated to be completed in September 2021.

The town square will include a stage, a green space, a pavilion, a childrens play area with a water feature and plenty of benches, he said. The goal is to "really make it a heartbeat hub for the entire community," Tynberg said.

When the project is built out over the next 10 years, it is planned to have 300,000 square feet of retail space, more than 700,000 square feet of office space, 150,000 square feet of hotel space, 2,000 apartments and 300 townhomes.

The city is providing $9.54 million to pay for infrastructure, including streets, utilities and parks for the first phase of the project, said spokesman Mike Neu. Northline Leander Development Company is paying $3.87 million for phase one infrastructure, he said.

The city also has a development agreement that Leander will be reimbursed for the infrastructure costs up to $15 million through a tax increment reinvestment zone, he said. Northline Leander Development Company also will be reimbursed through the zone for infrastructure costs up to $12.5 million.

Tynberg declined to say how much the entire project would cost. The city said in a news release last year that it could be worth an estimated $800 million.

The annual property tax revenue could equal about $4.3 million based on the citys current tax rate of 54.1 cents per $100 valuation when the project is finished, the release said.

Read more from the original source:
Construction to start on town square project in Leander - Austin American-Statesman

Audrey Cooney acooney@wickedlocal.com

MondayFeb24,2020at3:36PMFeb24,2020at3:36PM

HANOVER The Patriot Cinemas behind the Hanover Mall will remain open during demolition and construction at the mall site, according to a representative from the movie theater company.

Ultimately, the movie theater will be demolished to make way for 297 apartments and townhouses planned as part of Hanover Crossing, a development project slated for the current site of the mall and theater. The property on Washington Street currently occupied by the empty mall will be the site of the open-air retail and entertainment space. Market Basket, a movie theater and two restaurants have already signed on to be part of the new development.

The mall is now closed, and demolition there is set to begin soon. In the meantime, the empty building served as a training ground for local firefighters.

Lloyd Sova, vice president of development for project developer PREP Property Group Inc., said last fall that development at the current mall site will likely be completed in February 2021 and that businesses will open the following month. Demolition for the residential units, which cannot begin until the commercial space is finished because of the areas waste water system, is set to begin in April 2021, he said. Construction of the residential development is planned to finish in November of 2022.

Several other businesses on the outskirts of the mall property will stay open during construction, and continue to operate once Hanover Crossing is complete.

Follow Audrey Cooney on Twitter at @Audrey__Cooney.

Read more from the original source:
Patriot Cinemas will stay open during Hanover Mall construction - Wicked Local Hanover

By TED CARTER

Tenants of metro Jacksons suburban office market are expected to begin filling up space at a pace that exceeds new vacancies, an outcome the market failed to achieve two of the past three years.

Credit a 10-year slowdown in new office construction for increased prospects that net absorption will move into a positive range and stay there for at least a few years, Integra Realty Resources Inc. said in its 2020 Viewpoint report on the metro and Central Business District office markets. The two markets began the previous decade with an inventory of 26.1 million square feet and ended it at 26.9 million square feet. A recent slide into negative net absorption began in 2017 with 185,243 square feet left vacant and another 96,678 square feet remaining empty in 2018, Integra Realty Resources market survey found.

Absorption is the difference between vacantspacein a previous tracking period and the current available space.

A rebound to 145,506 square feet into positive absorption occurred last year but Integra sees negative absorption of 17,707 square feet for 2020. That should be the last venture into the negative range for at least the next four years, though none of the annual positive absorptions totals is expected to rise above 50,000 square feet, Integra said.

Ahead for the suburban market are decreasing vacancy and stabilized leasing rates, the report says. By contrast, the stagnation that has marked downtown Jacksons occupancies and lease rates for the last decade is expected to remain, Integra Realty Resources said.

The recovery of the suburban office market has been spurred along by a significant reduction in the number of new office buildings constructed since 2009, reported Integra, a national commercial real estate valuation and consulting firm with an office in Ridgeland.

On the negative side, metro Jacksons Central Business District remains in the third phase of a recession, said Integra, citing a failure of downtown Jackson to edge up either occupancies or lease rates.

Addressing the flexible warehouse and industrial market, Integras 2020 Viewpoint predicts the new distribution and supplier facilities built in support of Hinds Countys $1.5 billion-plus Continental Tire plant will make up most of the new supply of industrial space over the next 12 to 24 months.

Integra noted it has seen enough revived growth in the industrial sector to say the first phase of an expansion is under way.

Positive absorption is continuing, and lease rates have remained stable, Integra said in its annual market survey report.

Fewer Vacancies, More Options

Just how positive is absorption for Class A office space?

The last decade closed with The District at Eastovers newly constructed five-floor, 120,000 square-foot multi-tenant office property with adjoining garage building 100 percent leased, Integras report noted.

A proposed 95,000 square-foot building just east of the Highland Colony Parkway is 90 percent pre-leased.

In the meantime, strong market prospects have led developers to propose a 40,000 square-foot multi-tenant building with a parking garage in Ridgeland along Highland Colony.

In addition, Highland Colony is set to gain several new office buildings at its intersection with Mississippi Highway 463.

New supply will keep lease rates stable as occupancy rates are controlled by new supply, the Integra report said.

As strong as absorption rates are expected to become, Integras 2020 forecast is for an 8.1 percent vacancy rate for metro office space. But after 2020s negative net absorption, the metro market wont see negative territory for at least the next three years, according to Integra.

Net absorption is forecast to grow positive by 9,159 square feet by the final quarter of 2021, Integra says.

The positive absorption is projected to continue through 2024, with tenants leasing 20,615 square feet above new vacancies in the fourth quarter of 2022; 24, 260 in 2023; and 32,732 in the final year of the forecast.

Those projections show strong improvement for the metro market from the start of the previous decade and the accompanying pain of the Great Recession. The fourth quarter of 2010 ended with 262,613 square feet of product above net absorption, a circumstance that led to a drop of 5.47 percent in asking rents and 10 percent vacancy rate.

Rebounds for absorption began the following year and continued through 2016. Whopping net absorption of 527,197 square feet occurred in 2014. The next years net absorption totaled 308,053 square feet, according to Integra.

Absorption went negative in 2017 and 2018, with 185,247 square feet left vacant in 17 and 96,678 square feet in 18. The market returned to positive absorption in 2019, with 145,506 square feet absorbed above new vacancy inventory.

Today, the suburban market for Class A office closely parallels the rest of the South and nation, with landlords getting an average of $27 a square foot, compared to $26 for the region and $28 for the nation. Metro Jacksons suburban Class B office space rents of an average $19 a square foot fall slightly behind the region, $20; and nation, $21.70.

Metro suburban capitalization rates a measurement of risks in a deal derived as a ratio between net operating income and the value of the retail property average 7.5 percent for Class A and 9 percent for Class B, surpassing both the region and nation in both categories.

Meanwhile, the 8.3 percent cap rates for Central Business District Class A space significantly surpass a cap rate of 6.7 percent for the South and nation.

However, Class A and B asking rents for the CBD are well below the region and nation at $20 and $15, respectively.

So are the CBDs vacancy rates of 26.8 percent for Class A and B. CBDs in the region show vacancy rates of 15.2 percent and 15.8 percent for the nation.

Tenant Shuffles

Meanwhile, net office space absorption may increase, but commercial real estate broker Micah McCollough attributes that mostly to tenants shuffling around the metros 26.9 million square feet of office space, a recent example being Horne CPAs exchanging of 80,000 square feet at the Butler Snow building in Ridgeland for 60,000 square feet of a 90,000 square-foot building it built nearby.

And, he said, its not like office jobs are growing on trees to create demand for more space. Nor is it a plus for landlords that the average space devoted to each office worker has dropped from 300 square feet to 200 square feet, noted McCollough, vice president and associate broker at NAI UCR Properties in Jackson.

Its a tenants market and probably will always be until we can find a way to produce new office-producing jobs, he said.

As well as the Class A market is doing, said McCollough, it is hard to make money in a locality with low-to-no rental rate growth and rising construction costs.

With leverage belonging to tenants, the term as is is seldom heard in lease negotiations, the broker added, and lamented that landlords continue to have to invest $30 to $40 a square-foot in tenant space every five years. Its really hard to make money, at the end of the day, he said, and added:

If there was never another office building built in Jackson, it would probably be fine.

Like McCollough, Jackson commercial real estate broker Scott Overby sees a suburban and CBD office market dominated by a lot of moving around, not new product. Were just moving pieces of the pie around instead of growing it, said Overby, principal of The Overby Company.

Overby said the musical chairs in which tenants are engaged makes sense for them. Long-term tenants dont like the disruptions of renovating while still in the space. They also follow a natural tendency to want new quarters after 10 to 15 years. You ask, Where is the next location we can go?

They typically find new landlords willing to do the work to make things ready for a move-in, Overby said.

Some Activity for Industrial

Flex warehouse has been a slumbering workhorse but is showing signs of responding to a wake-up call, Integra Realty Resources said in the 2020 Viewpoint. Steady new construction of flex buildings and the attractiveness of their office and warehouse options led to the Viewpoints faith in a recovery, Integra said.

James Jim O. Turner II, a managing director at Integra, put the growth in flex space south of Pearl and north of Ridgeland. But the industrial-dominated southern end of U.S. 49 from Jackson to Florence will need relief from prolonged highway work before it can expand, he said.

The upside is that the multi new highway lanes near Florence should give better access to the flex properties and could help spur tenant growth and new construction. Florence and Richland should see a revival in their flex markets, Turner said.

Add retail and commercial to the growth mix, he advised, and cited strong school districts and easier access between interstate highways and U.S. 49 as reasons why. Once it is easier to access employment centers, growth in all sectors will follow, Turner said, reflecting on the impact of new large employers such as Continental Tire, which recently began operations on a mega-site off Interstate 20 east of Clinton with a workforce of about 3,000.

Continentals impact on industrial real estate will be significant, said MCollough, the associate broker at NAI UCR Properties. But he said he has received reports that Continental wont have the kind of economic ripple effects in east and south Hinds County that Nissan brought northern Madison County. Making tires for commercial trucks doesnt require the lengthy list of suppliers and contractors that automobile manufacturing does, McCollough noted.

A similar expectation comes from Overby, the Overby Company principal. I personally havent seen a huge spurt in growth, he said.

But Continentals presence will have a positive impact by showing other industrial-space users we have an employment base for manufacturers and are a good bet for investors, Overby said.

The broker said hes getting strong leasing from flex warehouses around Brandon and Gluckstadt and some sections of Jackson. Building owners like the ease of modifying the properties for different uses, Overby said.

No owner is shackled to one kind of use when a tenant leaves, he said, and noted he recently worked with an owner who easily converted space into a martial arts studio after an HVAC company moved out.

While Overby said he thinks the industrial market can accommodate new buildings of 25,000 to 35,000 square feet, McCollough said returns on rents must improve first.

There is still probably a $2 a square-foot-to-$3 a square-foot difference in what new construction would cost versus if you can find existing product that would work for a user, McCollough said.

That trend could change over the next three years or so, he said, as e-commerce fulfillment continues to become more prevalent in Jackson and supply continues to become more and more restrained.

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Suburban office space absorption headed for positive range; industrial in expansion mode | - Mississippi Business Journal

The mixed-use development on the Wilmington riverfront has been more than four years in the making

WILMINGTON Nearly two years after construction began, the finish line is finally coming into view for River Place on the downtown riverfront.

East West Partners, the developer of the $83 million mixed-use project, will begin to roll out the first of the 92 condominiums to residents starting in March, with more than 90 percent of the units already pre-leased.

Leasing has also begun on The Overlook at River Place, the northern tower of the project, which will include 79 apartments available in studio and one or two-bedroom layouts. Depending on the floorplan, the apartments will range in size from 553 square feet to 1,284 square feet.

The Overlook will begin welcoming tenants in May.

The developer has also unveiled its Overlook residents-only amenities deck, which includes a rooftop pool, fitness center and bar.

Beyond the residential units, River Place will also offer publicly accessible retail spaces including street-level tenants like Mellow Mushroom and Axis Fitness, both of which have entrances at the corner of Water and Chestnut streets.

On the third floor, Circa Restaurant owner Ash Aziz will open his latest eatery with a menu featuring seafood and steak.

The commercial tenants have already been handed the keys to begin outfitting their spaces, which should open starting in May.

Last week, crews completed laying a multi-level staircase that will connect Front Streets soon-to-be-renovated Bijou Park with Water Street, offering guests a new entry point down to the riverfront through River Places property.

In conjunction with the opening of the first wave of condos, the parking deck built on the interior of the property will also open to vehicles. The six-floor deck will include both public and private spaces.

Project manager McKay Siegel with East West Partners said the current timeline has the project being completed by the summer.

Reporter Hunter Ingram can be reached at 910-343-2327 or Hunter.Ingraqm@StarNewsOnline.com.

More here:
River Place to welcome first residents in March - StarNewsOnline.com

This 2019 rendering of Bear Development's Frame Park Commons apartments details what one of the two buildings, along White Rock Avenue and Moreland Boulevard, will look like once it's done. Construction has begun on the two-piece site, which straddles White Rock and includes the former site of Fracaro's bowling lanes.(Photo: JLA Architects/Bear Development)

WAUKESHA - If you're looking for a new apartment, you may not have to look much further than Waukesha in the next few years.

According to the city, people are indeed looking.

In successive fashion in January and early February alone, the city set the stage for the development of two high-density-oriented plans on its south side, pending more-detailed plans that are expected to follow soon.

A third proposal, downtown near Waukesha State Bank, has already advanced through a key financing stage, though construction has not yet begun.

And a fourth development proposal, involving another group of apartments near Frame Park at the what has been called the "gateway"of the city, has reached the construction stage.

Together, they represent a total of 500new apartments in the city, on top of the older rental housing stock that already exists.

Though that seems like a lot of apartments, city officials suggest the opposite is true, saying that the plans and proposals largely fill a need that was identified in a 2018 housing survey.

"When evaluating new housing projects we look carefully at the citys recently completed housing study to make sure they are filling gaps in our housing supply," said Jennifer Andrews, Waukesha's community development director. "The housing study showed a significant existing shortage of housing.The study identified a need for several different types of housing at varying price points. All of the residential projects fill a need identified in the study."

Here's a summary of what's in the works for the not-so-distant future.

On Feb. 4, the Waukesha Common Council approved a term sheet for a prospective tax increment financing district that would incentivize a mixed-use development called River Valley, primarily focused on upscale apartments on the southeast corner of Saylesville Road and Les Paul Parkway.

Parkway LLC wants to build a complex of 170 apartments with rents ranging fromabout $800 to $1,650 per month and in size from 550-square-foot efficiencies to 1,500-square-foot, three-bedroom apartments beginning as soon as this fall.

The preliminary site plan for Parkway LLC's River Valley Apartments shows L-shaped apartment buildings, plus a pair of outlots that could be used for commercial development. The 30-acre parcel is located on the southside of the junction of Saylesville Road and Les Paul Parkway.(Photo: Legistar)

In a memo to the city's elected leaders, Andrews noted the appealing elements the developer wants to build into the plan.

"Similar to other residential communities by this developer, their goal is to create a destination community in which people may live and recreate," Andrews wrote. "To that end, the community will have a strong amenity package including a clubhouse, pool, fitness center, hiking trails, playground, and other amenities designed to enhance resident experience."

While aldermen supported the proposed financial terms, on an 11-3 vote, the deal isn't done yet. Because the development would use new tax dollars generated by the improvements, the other taxing jurisdictions must approve the arrangement first.

At issue is whether the majority of the tax jurisdictions the city, Waukesha County, the school district and Waukesha County Technical College plus one at-large member agrees that the project is absolutely dependenton the use of $6.8 million in diverted tax dollars to pay for certain development costs.

On Jan. 22, the city's plan commissionbacked a proposal for a tax incremental financing district that's key to the redevelopment of the original portion of theFox Run Shopping Center along St. Paul Avenue and Sunset Drive.

The plan envisions dozens of 72 new upscale apartments, with rents ranging from roughly $1,000 to $1,500 monthly, where the 67,000-square-foot vacant strip mall now sits. It also features a two-floor, 30,000-square-foot medical or office building, near the separate existing Sentry store.

The vacant corner store of strip mall portion of the Fox Run shopping center faces Sentry Foods, one of only two remaining tenants on the property. A redevelopment proposal, which still needs city approval and is contingent on the creation of a special tax district, would convert the property into mostly into residential and office spaces.(Photo: Jim Riccioli/Now News Group)

Two outlots are also identified on the development documents. Either, or both, could involve some commercial uses, or additional residential space. The existing Chase Bank site would be the only building in the original 13-acre Fox Run center toremain.

The Sentry store within the redevelopment area recently closed as a result of the anticipated redevelopment, proposed in October 2019 byVJS Development Group LLC of Pewaukee, Bedford Development of Waukesha and Somerstone LLC of Brookfield.

The potential TIF district, which has already received the backing of the city's plan commission, still needs the support of the tax jurisdictions, meeting as the Joint Review Board. A formal project proposal would follow if the board approvesthe financing deal.

Further along in the pipeline are two plans unveiled in 2019.

The Reserve, anupscale apartment plan alsobuoyed by tax incentive funding, will feature186 living units plus more than2,000 square feet commercial space in a four-phase redevelopment along St. Paul Avenue and Barstow Street near Waukesha State Bank and the Fox River.

In separate decisions, the Waukesha Common Council on Sept. 3 advanced a proposed tax incremental financing district and approved a final site plan for a project that was initially proposed in May by Campbell Capital Group LLC.

This preliminary rendering of a five-story luxury apartment complex called The Reserve of Waukesha shows what a developer has in mind for a now-vacant commercial area near the Fox River and Waukesha State Bank downtown. As envisioned, the complex would include 186 units plus 2,100 square feet of commercial space.(Photo: Poole & Poole Architecture LLC)

Andrewssaid the TIF district is already in place, and city officials are currently working to finalize a development agreement with Mike Campbell, who heads the development partnership.

In documents prepared as part of early plans in the process, Campbell expressed confidence in his investment based on Waukesha's needs.

"The luxury apartment market today consists of an affluent individual who chooses to rent versusown, and is looking for an upscale community in close proximity to work, retail and entertainment," Campbell said in the letter. "The Fox River walking path also encourages a healthy lifestyle that is important to our target audience. This site has all of those qualities."

The construction area is fenced off and excavation work has begun on the 2.5-acre construction site for the 72-unit Frame Park Commons apartments along White Rock Avenue and Moreland Boulevard. Bear Development LLC is building affordable apartments on the site, which includes land that was once home to Fracaro's bowling lanes.(Photo: Jim Riccioli/Now News Group)

Meanwhile, construction has begun on a 72-apartment affordable housingcomplex, Frame Park Commons, at the intersection of White Rock Avenue and Moreland Boulevard. Spurred in part by the fire that destroyed Fracaro's bowling lanes in January 2018, the development is one of the newer projects that doesn't rely on an upscale market.

In her presentation prior to the January 2019 public hearing, Andrewsnoted that when the city created a new tax increment financing district in 2018 to support the redevelopment of the White Rock neighborhood, officials considered what developers would likely favor and what the city's housing survey indicated as a local need.

Bear Development LLC envisioned apartments with affordable rents in two buildings, one on each side of White Rock Avenue along Moreland. The developer began excavating the site in January.

Waukesha also has a mix of apartments renovated from older buildings, intended for other adults or smaller in scale in recent years.

New Perspective of Waukesha, under construction on 5.7 acres at the southeastcorner of EastBroadway and Les Paul Parkway, will consist of 128 living units, including some for assisted care, for seniors. The complex includes related amenities for older adults.

The conversion of part of the original Waukesha County Courthouse and jail on Main and Martin streets into 30 living units, plus a banquet center, opened in 2019. The apartments are intended for upscale tenants.

Downtown Waukesha has also seen apartments Waukesha Lofts on the west end and Clearwater Apartments several blocks to the east fitted into Main Street locations east of Barstow Street in the past decade.

Contact Jim Riccioli at (262) 446-6635 or james.riccioli@jrn.com. Follow him on Twitter at @jariccioli.

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Waukesha may soon have 500 more apartments. They are sorely needed, city says. - Milwaukee Journal Sentinel