Poll: Real Estate DLC: Mixed Use Buildings
Posted: Fri May 24, 2019 6:35 pm
Mixed Use Buildings:
• Mixed Use Skyscraper Building:
o Ability to Allocate % of Building Upper Floors to either apartments/condos, regular office space, or headquarters office space (25%/75%, 50%/50%, 100%) changes would result in loss of tenants in part of the property being converted in and incur tenant improvement cost.
o Upper Floors:
-Apartments/Condos
-Office Space
-Headquarters Office Space
o Mandatory Bottom 1 or 2 Floors Retail Space
• Building Ownership Expenses:
o Property Taxes 1% FMV Building (Additional Revenue Source for Cities)
-Possibly to have different tax assessment value than FMV that would encourage long term ownership. For Example In California Prop 13 only allows counties to increase property tax assessment by 2% rate inflation unless there is a new construction, purchase, or transfer.
• Mixed Use Skyscraper Building:
o Ability to Allocate % of Building Upper Floors to either apartments/condos, regular office space, or headquarters office space (25%/75%, 50%/50%, 100%) changes would result in loss of tenants in part of the property being converted in and incur tenant improvement cost.
o Upper Floors:
-Apartments/Condos
-Office Space
-Headquarters Office Space
o Mandatory Bottom 1 or 2 Floors Retail Space
• Building Ownership Expenses:
o Property Taxes 1% FMV Building (Additional Revenue Source for Cities)
-Possibly to have different tax assessment value than FMV that would encourage long term ownership. For Example In California Prop 13 only allows counties to increase property tax assessment by 2% rate inflation unless there is a new construction, purchase, or transfer.