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The Future of Los Angeles: Building a Car-Free City

Los Angeles is at a crossroads, with two visions for its future competing for attention. On one hand, we have electric, autonomous vehicles like the Waymo Jaguar I-PACE, which promises a cleaner, quieter city. However, the technology is still in its infancy, with challenges like stalled navigation at crosswalks. The potential benefits—like working, eating, or sleeping while in traffic—are promising, but the limitations are evident. On the other hand, Los Angeles hosts CicLAvia, a recurring event where the city transforms into a vibrant, car-free zone. On event days, roads become walkways, bike paths, and gathering spots, bringing the community together

October 23, 2024 No Comments

Hong Kong News

China’s Real Estate Market: Signs of Stabilization and Growth

In recent months, China’s real estate market has shown promising signs of recovery after facing significant challenges earlier this year. Back in April, the sector struggled with low transaction volumes and record-high unsold inventory, with 746 million square meters of ordinary commodity housing remaining unsold—surpassing a decade-old peak. Additionally, second-hand home prices in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen reverted to 2016 levels, reflecting a drop in buyer confidence. Policy Interventions Drive Recovery In response, the Chinese government introduced a series of strategic measures to stabilize the real estate market. Starting on May 17, the People’s Bank of

October 21, 2024 No Comments

News

Metro Seeks Community Input on Affordable Housing Near 17th Street Station

Metro is moving forward with its ambitious 10,000 Home Commitment, focusing on creating affordable housing on underutilized Metro-owned land. One of the first major projects is planned near the 17th Street/Santa Monica College station, where Metro aims to develop income-restricted housing. To ensure the development aligns with the needs of the local community, Metro is actively seeking feedback from residents. Residents have two main ways to provide their input. Metro has launched an online survey and will also hold a virtual meeting on October 23, allowing community members to share their thoughts on the project’s design, the types of services

October 15, 2024 No Comments

News

Kengo Kuma’s Yama-Tani: A Human-Scaled Masterpiece in Paris

Kengo Kuma & Associates have introduced an architectural gem in the northeast of Paris with the Yama-Tani residential building. Unlike the towering structures surrounding it, Yama-Tani blends seamlessly with its low-rise neighborhood, offering a refreshing departure from the city’s typical high-rises. Designed to evoke a village-like atmosphere within an urban setting, this development emphasizes both human scale and a deep connection with nature. A Village in the City The Yama-Tani project stands as a testament to the firm’s commitment to designing with nature in mind. The name “Yama-Tani” translates to “mountain-valley,” reflecting the building’s organic, flowing form. Its stepped structure,

October 14, 2024 No Comments

property News

Sudbury’s $1.7M Grant Hinges on Old Hospital Demolition

Sudbury’s downtown revitalization could soon get a boost as Panoramic Properties seeks a $1.7 million municipal grant to renovate the Scotia Tower into residential units. However, Mayor Paul Lefebvre has placed a condition on the grant: the old, long-vacant hospital building on Paris Street, also owned by Panoramic Properties, must be demolished. The Scotia Tower project, set to add 83 residential units downtown, is part of a larger housing initiative that aligns with the city’s Housing Supply Strategy and Downtown Master Plan. Despite the potential benefits, public sentiment in Sudbury has long been frustrated by the neglected state of the

October 11, 2024 No Comments

property News

Vancouver Condo Market Dominated by Investors Favoring Smaller Units

The Vancouver condo market is being heavily influenced by investors who prefer smaller units, according to recent data from Statistics Canada’s Canadian Housing Statistics Program (CHSP). This trend reflects a growing investor preference for maximizing returns through higher rent per square foot, which tends to be more lucrative for compact living spaces. In Vancouver, where property prices continue to soar, around one-third of all condos are investment properties. These units, particularly those under 600 square feet, offer investors a greater rental yield compared to larger units. A key reason for this is the higher rent per square foot associated with

October 10, 2024 No Comments

News

Proposition 33: The Heated Debate Over California’s Rent Control Measure

California’s Proposition 33 has sparked a fierce debate as it heads to the November 2024 ballot. This controversial measure, which could transform the state’s rental market, has supporters and opponents clashing over its potential impacts on housing affordability and the broader economy. With both sides launching aggressive campaigns, the conversation around Prop 33 is becoming increasingly heated, dominating airwaves and online platforms. What is Proposition 33? Proposition 33 aims to address California’s ongoing housing affordability crisis by repealing the Costa-Hawkins Rental Housing Act of 1995. Currently, Costa-Hawkins allows rent control only on housing units built before 1995. It also permits

October 9, 2024 No Comments

property News

The Disappearing Act of Affordable Housing: A Growing Crisis in the U.S.

Affordable housing in the U.S. is on the brink of a major crisis, as thousands of units built under the Low-Income Housing Tax Credit (LIHTC) program are set to expire in the coming years. This program, which has been in place since 1986, has been responsible for creating 3.6 million affordable housing units, yet many of these units are nearing the end of their 30-year affordability period. For tenants like Marina Maalouf, a longtime resident of Hillside Villa in Los Angeles, this expiration marks a significant threat to their livelihood. Marina’s rent doubled in 2021 after her building’s LIHTC contract

October 8, 2024 No Comments

Hong Kong News

Can China’s Property Market Rebound During Golden Week?

China’s property market, long troubled by a significant economic slowdown, is attempting to rebound during the National Day Golden Week holiday. As part of a renewed effort to revitalize the struggling sector, local governments, developers, and cities are rolling out extensive promotional campaigns to attract homebuyers. The timing is critical, as Beijing has recently introduced a series of stimulus policies aimed at breathing new life into the real estate sector. Beijing’s New Stimulus Policies In late September, just before Golden Week, the People’s Bank of China (PBOC) introduced several key measures to spur property sales. The mortgage rate was cut

October 7, 2024 No Comments

Hong Kong News

China’s Stimulus Revives Investor Interest in Troubled Property Bonds

China’s recent stimulus measures have sparked renewed interest from both Chinese and global investors in the country’s beleaguered property sector, particularly in offshore bonds. These efforts, aimed at stabilizing the economy and reviving the real estate market, have led to significant rallies in bonds that were previously distressed. The aggressive stimulus package, announced on October 1, 2024, represents the most comprehensive effort by the Chinese government to support the property sector since the COVID-19 pandemic. This development has attracted substantial investment, including from Beijing G Capital Private Fund Management, which placed its first orders for property bonds in several months.

October 6, 2024 No Comments