Cresleigh: Changing Points of View

When a major builder, Cresleigh Homes, recently proposed a high-rise housing project at 16th and N streets, officials discovered the state’s protection act map included that site and precluded developer’s from going more than 10 stories high, even though the site is a half-mile from the Capitol dome.

“It seemed to be an anomaly, given how far it was away from the Capitol,” city community development director Ryan DeVore said.

Read more at Sacbee.com

Amazon invests in prefab startup focused on smart home tech

Today’s announcement of Amazon’s investment in Plant Prefab, a startup based in Rialto, California, comes on the heels of the company’s announcement of a new line of Alexa-enabled smart home devices, suggesting a potential new avenue of smart home development, experimentation, and expansion.

The new $6.7 million Series A funding round, which also includes investments from Obvious Ventures and other private investors, will support expansion and talent acquisition for the company, including senior hires and new factories operating on the company’s patented Plant Building System. The company current operates out of a 62,000-square-foot facility in Rialto.

Read more at Curbed.com

Calls From Across the Nation for Affordable Housing

“We need more cities to address the shortage of new homes being built at the entry level. That will take forward thinking at the city level to address the lack of new development at the affordable end.” 

Read More at OCRegister.com: 208 new entry-level condos, plus shops and restaurants, coming to Stanton

“As [Millenials age], we’re going to need more single-family homes and we’re not building (enough of) them right now”

Read More at YakimaHerald.com: Audience at Yakima homebuilders meeting hears concerns over affordable houses

“There is a hole in the market for new single, detached homes in the area in the $200,000 to $250,000 range”

Read More at DailyProgress.com: Area builders tackle challenge of affordable Augusta County housing

Changing Accounting Standards Will Impact Property Managers

Leasing guidance before the issuance of ASU 2016-02 required lessees to classify leases as either capital or operating leases. Lessees recognized assets and obligations related to capital leases; expenses associated with capital leases were recognized by amortizing the leased asset and recognizing interest expense on the lease obligation. Many lease arrangements were classified as operating leases, under which lessees would not recognize lease assets or liabilities on their balance sheet, but rather would recognize lease payments as expense on a straight line basis over the lease term.

The IASB decided that lessees should apply a single model to all leases, which is reflected in IFRS 16, Leases, released in January 2016. The FASB decided that lessees should apply a dual model. Under the FASB model, lessees will classify a lease as either a finance lease or an operating lease, while a lessor will classify a lease as either a sales-type, direct financing, or operating lease.

Click here to read the article: How Changing Accounting Standards Will Impact Property Managers

Download the guide from PWC (including the differences between ASC 842 and IFRS 16)

 

 

Housing Starts Rise Amid Ongoing Affordability Concerns

The August reading of 1.28 million is the number of housing units builders would start if they maintained this pace for the next 12 months. Within this overall number, single-family starts increased 1.9 percent to 876,000 units. Meanwhile, the multifamily sector—which includes apartment buildings and condos—increased 29.3 percent to a total of 408,000.

Read more at NAHB.org

For different types of work, people want different spaces

“Work is increasingly more fluid today,” says Christian Beaudoin, research director for JLL in Chicago. “People work from home, work from third places. Offices today are changing to meet those needs, so workplaces are necessarily becoming more fluid.”

JLL’s “2018 U.S and Canada Fit Out Guide” defines and examines three prominent styles of office space across the U.S. and Canada, compiled from data from more than 2,800 projects it managed. These styles are progressive, moderate, and traditional.

Progressive office space, which JLL calls the leading-edge office space, has an open floor plan, 100 percent of desk space outfitted as bench-style furniture, no enclosed offices, and numerous varieties of collaboration and conference spaces.

Moderate office space has 10 percent of the area allotted to private offices; the remaining space may be open with work stations, along with some conference rooms and several collaboration or multiuse spaces.

Traditional plans have 30 percent of space devoted to enclosed offices; the remainder includes an open floor plan and eight-foot workspaces, several conference rooms, and nominal collaboration spaces.

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10 Hurricane-Ready Windows, Doors, & Locking Systems

Manufacturers have developed and expanded their hurricane-rated options up to the level of “Miami-Dade certified,” or approved under the country’s strictest standards for use in Florida’s High Velocity Hurricane Zones (HVHZ), which cover Miami-Dade County and Broward County. The following cover a mix of options for hurricane-ready homes, including Miami-Dade certified products, products in testing, and products that meet other regional standards:

Read More at BuilderOnline.com

Do we have to integrate all of our systems?

No, of course, you do not have to integrate all your systems. There’s an easy rule to follow to determine which systems should be integrated. Your goal should be “One Time Entry, Closest to the Source of Origin”. That means if any systems require entry of the same piece of information causing duplicate entry work in the organization, then most likely those systems should be integrated. “Closest to the Source of Origin” means that typically the first person/role that receives the information should be entering it into one system to feed all the systems.

Think about what makes the Microsoft stack so appealing…they have integrated their products as much as possible and they keep going for more. If a user is set up in the Outlook Exchange Server, they that same user is available in SharePoint, Delve, Sway, O365, etc. You should want that same level of efficiency in your own organizations. If you need help with the concepts or putting this into play, give us a call. We’ve got decades of experience in just this philosophy.

How do I determine what system is best for my company?

It’s best to be analytical when determining a what system is a good fit for your company. Start with a list of requirements and a wish list. Rate these items on priority (high, medium, low, etc.). It is often helpful to have a weighted average on the specific requirements.

Next, meet with the key stakeholders and get in-depth input. Be sure to include the technology platform and support in your requirements. From this you can develop your RFP (request for proposal). These requests should be sent to 5 or 6 software companies that initially meet your needs. Based on the responses and the related scoring, reduce the field to 3 players and then request a demo of each. Be sure you have your requirements of what you want in the demo; this is a scripted demo.

Of course, you are getting the quotes for initial outlay in cost and the ongoing costs. Factor in the cost of implementation as well. From this comparison, you should be able to determine the best fit for your organization.

Remember, this is not your normal skill set. Frequently companies use Cornerstone to guide them through this process, including predesigned templates and letters. We not only have experience in small to large RFPs, but we know most of the systems out there. That inside knowledge often helps tip the scale for the searching company to the best fit.