What Will Happen to All the Empty Office Buildings and Hotels?
The New York Times
Commercial real estate has been hit hard by the pandemic, but there are plans to convert some of the now empty spaces into apartment buildings.
Top Headlines
Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
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Skanska Breaks Ground On California’s First Zero Net Energy Mental Health Campus
Bisnow
After bidding for the job three years ago, general contractor Skanska USA officially broke ground this week on the Cordilleras Health System Replacement project that will significantly upgrade an existing mental health center located at 200 Edmonds Road in an unincorporated area of San Mateo County bordering Redwood City….
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This NFT comes with an actual house
Fast Company
There’s a new architectural NFT artwork on the market. Based on a duplex overlooking the San Gabriel Mountains in Thousand Oaks, California, the NFT is a short video by artist Kii Arens that depicts the driveway view of an unremarkable suburban home. It has a psychedelically tinted view of the mountains beyond, and the sky is soon invaded by several flying saucers. Techno music plays in the background.
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Mall department stores were struggling. The pandemic has pushed them to the edge of extinction.
Washington Post
Department stores, once a middle-class mainstay of convenience and indulgence, had been spiraling downward long before the pandemic turbocharged online shopping and helped tip a number of big-name retailers into bankruptcy. Nearly 200 department stores have disappeared in the past year alone, and another 800 — or about half the country’s remaining mall-based locations — are expected to be shuttered by the end of 2025, according to commercial real estate firm Green Street.
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Metropolis Partners With Premier Parking to Deploy its Artificial Intelligence Platform Nationwide
Yahoo Finance
Metropolis, a leading AI-powered autonomous commerce platform, announced a long-term, national partnership with parking industry leader Premier Parking. Metropolis’ proprietary computer vision technology and mobile platform will be deployed across Premier’s portfolio, which consists of more than 100,000 parking spaces across 500 locations in 40 cities, by the end of the year….
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Casa Blanca raises $2.6M to build the ‘Bumble for real estate’
Techcrunch
Casa Blanca, which aims to develop a “Bumble-like app” for finding a home, has raised $2.6 million in seed funding. Co-founder and CEO Hannah Bomze got her real estate license at the age of 18 and worked at Compass and Douglas Elliman Real Estate before launching Casa Blanca last year. She launched the app last October with the goal of matching home buyers and renters with homes using an in-app matchmaking algorithm combined with “expert agents.” Buyers get up to 1% of home purchases back at…
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SPACs May Cast Wider Net As Competition For Targets Increases
Crunchbase News
Electric vehicle and greentech companies have proven to be the sweethearts of the SPAC universe thus far when it comes to merger targets, but the question remains: where could they look next?
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Jump In Mall Traffic As Pandemic Restrictions Lift Offers Hope To Suburban Retail
Bisnow
Once on death’s door, suburban shopping malls are getting a second chance at life as coronavirus pandemic-fatigued shoppers return in search of retail therapy. New data from analytics firm Placer.ai shows mall traffic at some of the nation’s top 50 U.S. malls rose 86% year-over-year in March 2021. Placer.ai develops mall metrics by pinging mobile data devices at 50 top-tier malls and using that information to detect traffic patterns….
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Bring Your Flexible Workspace to Life: A report for CRE
Lane
In this report, we explore how leaders in commercial real estate can go beyond room bookings to create a thriving flexible workspace offering that keeps customers coming back.
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Proptech founders and investors now have a digital event they can’t miss: Relevation
Tech.EU
Proptech Lab, a community of innovators in the real estate value chain, has announced the second edition of its Relevation conference to take place on June 23—24. The online event is expected to double in size from the 2020 gathering, bringing together over 400 startup founders looking for funding, more than 200 VCs working in the field, and some 50 limited partners looking to allocate their capital in proptech funds.
