What Could The $2.25 Trillion Infrastructure Bill Mean For The Real Estate Industry?

You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and  need an estimated value.   Phone / Prefer cell: 520-975-5207
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walterunger@ccim.net.   –       What is a CCIM.  

In Business and in Life you don’t get what you deserve, you get what you Negotiate.

contact me if you want the me to get you the value of your property.

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Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

June 3, 2021 CohnReznick Julia Troy, Bisnow Custom Content Writer

The American Jobs Plan is a proposed $2.25 trillion infrastructure bill that President Joe Biden is trying to steer through Congress. The wide-spanning bill covers everything from updating roads and bridges and upgrading the nation’s electrical grid to implementing new plans for clean drinking water and constructing and preserving commercial buildings, schools and hospitals. 

SEE IT ALL: https://www.bisnow.com/national/news/commercial-real-estate/what-could-the-infrastructure-bill-mean-for-the-real-estate-cohnreznick-studiob-108935

While the bill has yet to pass — or even be fully written — it stands to make a major impact on the commercial real estate industry. 

“There is money being proposed for all types of construction here,” said Beth Mullen, who leads the affordable housing practice at CohnReznick. “This plan is focused on a community-based approach to infrastructure. It’s not just about our nation’s roads and bridges; it’s about affordable housing, public schools, childcare centers and more, which are just as important as the traditional types of infrastructure we think of.” 

The plan proposes $100B for school construction and repair and $400B toward expanding access to quality, affordable home- or community-based care, and several billion dollars toward updating airports and building, preserving or retrofitting the more than 2 million homes and commercial buildings to create more modern, energy-efficient, sustainable spaces. 

Specifically, $40B has been proposed for public housing capital upgrade projects, with $27B earmarked to establish a Clean Energy and Sustainability Accelerator to mobilize private investment into retrofits of residential, commercial and municipal buildings. Additionally, $25B has been proposed for a new Child Care Growth and Innovation Fund that would increase the availability of childcare services through facility improvements and new construction in high-need areas. 

Mullen said that the asset classes that will see the most benefits are the ones that are best able to adapt to meet a community’s changing needs.

“Every community has needs right now,” Mullen said. “Whether you’re living in a high-cost coastal city or a more underserved rural area, your community needs more housing, schools, medical facilities, and this bill has components that address those needs in every part of the U.S.” 

She added that housing will likely be top of mind, as nearly every state in the U.S. lacks sufficient housing to meet residents’ needs, but new developments will also likely need to include publicly minded components. 

“There is an increased demand for community spaces to be built right into housing,” Mullen said. “Whether it’s a multifamily building with a library on its ground floor or a medical facility built right into a new development, it’s not just about housing, or office or retail; it’s about whatever a community most needs.” 

CohnReznick Chief Innovation Officer Tama Huang said that in recent conversations she’s been having with real estate stakeholders, she has found an increased demand to transform retail into mixed-use housing or coworking spaces with multiple purposes. This is particularly true in America’s heartland and tertiary cities, she said, which are seeing an influx of residents as people leave the coasts.

In major coastal cities, Huang said, there is a glut of office space that could also be repositioned to better meet community needs under the proposed plan, whether that means converting parts of those spaces into homes, daycare centers or grocery stores. 

She added that the American Jobs Plan is redefining infrastructure, and the real estate industry should not be thinking of that phrase in terms of roads and bridges but as “care infrastructure” that is the key to helping people get back on their feet after a turbulent year. 

“The proposed bill places an increased focus on public schools, childcare centers and improving America’s broadband infrastructure,” Huang said. “All of these are crucial pieces to help people get back into the workforce.” 

Ira Weinstein, who leads the real estate and cannabis practices at CohnReznick, pointed out that while there are a lot of positives that could come from the proposed bill, the president still has a long way to go before it is passed, and there is no guarantee that everything that is being pitched now will make the final cut. 

“It’s great that the administration has a plan to go beyond basic infrastructure, but there’s no telling what the final iteration of this legislation will look like,” Weinstein said. 

Mullen said it is too soon for the real estate industry to make concrete business decisions based on what may or may not be in the bill. If the current proposed plan does pass, however, she said one thing is certain: Real estate professionals will be busy.

“There’s going to be a lot of hard work to be done,” she said. “Right now, every building material and labor source is being stretched beyond the supply chain, so everyone will need to expand, grow. I’m hoping as we grow, we will grow smarter, try innovative approaches to different things and look at new ways of doing things and retrofitting with sustainability in mind.”

She added that experts are predicting that this will be one of the most lobbied bills in history, and it is important for people who are invested in what the final legislation may look like to do their part to make their voices heard. 

“We have a right and a responsibility to be engaged in this process,” Mullen said. “Whether it’s contacting your senator or congressperson and saying, ‘This is what’s important to me, this should be in this legislation,’ or writing a letter, Americans need to speak up. It can’t just be the voice of lobbyists.” 

This article was produced in collaboration between CohnReznick and Studio B. Bisnow news staff was not involved in the production of this content.

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.  

Contact Julia Troy at julia.troy@bisnow.com

SEE IT ALL: https://www.bisnow.com/national/news/commercial-real-estate/what-could-the-infrastructure-bill-mean-for-the-real-estate-cohnreznick-studiob-108935

FROM ME:  FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office  / Retail  / Industrial  / Multi-family /  please call me on my cell 520-975-5207 or e-mail me     walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net,  CCIM,  CREXi, Catylist, and various other web sites.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international

   What is a CCIM.  In Business and in Life you don’t get what you deserve, you get what you Negotiate.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

contact me if you want the me to get you the value of your property.

CCIM DEAL MAKERS    FALL 2020   THE BIGGEST DEAL   WALTER UNGER, CCIM, WITH WEST USA COMMERCIAL DIVISION IN PHOENIX REPRESENTED GCG HOLDINGS LLC IN ITS $29.43 MILLION SALE OF GOLD CANYON GOLF RESORT AND SPA IN GOLD CANYON, ARIZ., TO GOLD CANYON MJ LLC.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

CCIM DEAL MAKERS    FALL 2020   THE BIGGEST DEAL  / WALTER UNGER, CCIM, WITH WEST USA COMMERCIAL DIVISION IN PHOENIX REPRESENTED GCG HOLDINGS LLC IN ITS $29.43 MILLION SALE OF GOLD CANYON GOLF RESORT TO GOLD CANYON MJ LLC.

Click here to find out what is a   CCIM:

 CLICK HERE TO VIEW ALL MY LISTINGS. 

PRESS RELEASE: Gold Canyon resort sells for $29.4M. Walter Unger CCIM from West USA Commercial Division Brokered the Transaction.

http://walter-unger.com/gold-canyon-resort-sells-for-29-4m/

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

What is a CCIM.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

History of Arizona from  900 BC – 2017 -Timeline.

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

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  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

CLICK HERE:  Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

What is a CCIM.

FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME

CLICK HERE TO VIEW ALL MY LISTINGS. 

https://www.crexi.com/properties?searchBrokerId=17513

Also Call me if you need an estimated value of your Property.

Call me if you want to see a map with what is in the Construction Pipeline for Apartments.

Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

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  Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

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