News and Insights
Avoiding the day-two downfall: Five ways to set up a project for success
These “day-two” issues, or problems that arise after construction has completed and building operations have commenced, are not exclusive to any one sector. Whether a building is a healthcare facility, a hotel or a multifamily property, securing stable occupancy and creating a functional space for the end user is essential to driving profitability and achieving investment goals.
Builders Cautiously Optimistic About Long-Term Industry Outlook
Andrew Bohnert, vice president and general manager of Project Management Advisors, said that some companies are using this time to work on project design and permitting, anticipating an improvement in financing looking past 2024.
Senior Living and the Faith-Based University
Omar Rihani of Project Management Advisors on why developers should explore this "uncharted territory."
Middle-Class Demand for Affordable, Alternative Lodging Boosts Investment in Niche Sector
“These are people who have a primary residence in a place where they’ve been for a long time, and they’re looking for a spot along the beach, in nature or just in a warmer climate where they can be surrounded by new scenery but need access to the amenities like WIFI to stay connected.” says Florida-based Robert Wilson, vice president at the real estate consulting firm of Project Management Advisors, Inc.
Student Housing in 2023: Stagnation? Or Continued Investor Interest?
As mentioned in a previous article, the fundamentals examined by student housing buyers and builders involve college enrollment. As such, “campus housing has largely been insulated from the economic slowdown since just about every campus in the U.S. is facing some degree of student housing shortage,” explained Eric Gould, senior project manager and student housing expert at Project Management Advisors Inc.
DTLA Debate
“I think safety is a big issue.” Sonnet Hui, general manager and vice president at Project Management Advisors Inc., said. “I think all these issues go hand in hand. If we don’t deal with the homeless population, they’re starting to migrate to other pockets of downtown, which is making a lot of people feel unsafe, unfortunately. And I think that safety is a priority for a lot of employers.”
Cruise Brands’ “Landlubber” Presence: Q&A with PMA’s Leon Camarda
These days, the positively setting sail. Cruise organizations are also developing and/or owning commercial real estate and land-based hospitality, retail and entertainment destinations as another way to attract travelers. Connect CRE recently spoke with Leon Camarda, executive vice president, Project Management Advisors Inc., about this trend of cruise brands “coming ashore” to build and operate commercial real estate holdings.
Aging in Place Gains Momentum in the Seniors Home Care Industry
“Aging in Place” (AIP) is part of that theme, Doug King, Healthcare Vice President Emeritus at Project Management Advisors, tells GlobeSt.com. He calls it an interesting conundrum when looking at the high demand for senior housing next to the AIP trend that’s been picking up speed in recent years.
Dos and Don’ts for Life Science Conversions
Not every building or location will be a fit for this fast-growing sector, observes Ken Richter of Project Management Advisors. Adapting existing properties for life science purposes is a prevailing strategy for breathing new life into real estate assets.
Strategies for Success in Hospitality Investments
Hospitality and hotel development projects are subject to the same economic challenges as others in the real estate industry, including high construction costs and a heavy debt burden pressure. But pent up post- COVID demand and underserved markets in the space can translate into investment opportunities for those who know where to look and how to navigate this nuanced asset class.
2023 Year in Review: Jerry Maffia, Project Management Advisors, Inc.
Our company and specifically several individuals from our local office were brought in to rescue a project that had gotten away from the original project team. We were able to turn the project around and deliver it to the developer and operator ready for use and occupancy in the fall.
