The Real Deal - New York Real Estate News

Developers incorporating “wellness” into more and more projects

Posted: 10 Oct 2021 11:00 AM PDT

Developers have incorporated “wellness” amenities and designs into more and more projects over the past several years. Some 740 “wellness” residential projects were in development or built worldwide at the beginning of 2018 and that number has grown to around 2,300, according to a study by the Global Wellness Institute first reported by CEPro. GWI defines “wellness real estate” as projects that incorporate intentional wellness elements into design, amenities, programming, materials, or otherwise. GWI said

Boston to require large buildings to achieve carbon neutrality by 2050

Posted: 10 Oct 2021 09:00 AM PDT

Boston has given the city’s commercial landlords an ultimatum: take immediate steps to eliminate greenhouse gas emissions or face thousands of dollars in fines. An ordinance signed into law this week sets new annual emissions targets and reporting requirements for large buildings in the city, with the ultimate goal of eliminating greenhouse gas emissions by 2050. Acting Mayor Kim Janey signed an updated Building Emissions Reduction and Disclosure Ordinance, the first since BERDO was enacted

Evergrande isn’t only Chinese developer in deep debt

Posted: 10 Oct 2021 06:00 AM PDT

China Evergrande Group isn’t the only Chinese developer with mounting debt problems. Fantasia Holdings Group missed a $205.7 million bond payment, according to Bloomberg. A unit of the company also missed a payment on a separate $108 million loan due last week. That’s according to Country Garden Services, which last month agreed to buy the assets of a Fantasia subsidiary’s property management business. The missed payment wasn’t entirely a surprise to the market. Last month,