Bad combination: Low-rent housing and rail yards

June 10, 2025 / no comments

Is there a messier development than the unfinished portion of Pacific Park? OK, maybe the leaning tower of FiDi, the stalled Fortis skyscraper tilting north by 3 inches. But no one can blame a mistake like that for Pacific Park’s problems. Some 22 years after Forest City Ratner announced plans for Atlantic Yards, as it […]

This article originally appeared on The Real Deal. Click here to read the full story.

Dermot left with 100K sf hole at 20 Exchange Place

June 10, 2025 / no comments

The Dermot Company has 100,000 square feet in play at 20 Exchange Place.  The immersive show “Life and Trust” shut down abruptly in April, Crain’s reported. Its departure created a six-story hole at the Financial District property, which was recently acquired by the owner. Neither landlord nor tenant commented to the outlet on the situation, […]

This article originally appeared on The Real Deal. Click here to read the full story.

Ethan Penner Would Build New Town For Homeless Populations, ‘Delete’ CEQA As California Governor

June 10, 2025 / no comments

Commercial finance pioneer and real estate investor Ethan Penner declared his intentions for the California governor’s mansion late last month, seeking to replace the term-limited Gavin Newsom.
Running as an independent, Penner would be the first non-Democrat to hold the state’s highest office since Arnold Schwarzenegger, who departed in 2011. Penner’s list of priorities would signal a departure from 15 years of left-leaning policymaking, including eliminating the California Environmental Quality Act and building communities in rural areas where the state’s growing population of homeless people would live.
Both CEQA and homelessness are frequent issues discussed among commercial real estate professionals in the state,…