At the same time, limited space for real-estate development has driven up property prices across the board.
Of the more than 100 rezonings in the past 10 years, most have been about creating opportunities for new real-estate development.
Two new limited partnerships were formed in California for the purpose of real estate development, and the limited partnerships each had the same three general partners.
Under FED Bernanke and the Central Bank policy Worldwide niche real estate development opportunities are being created for real estate developers.
Hurt by falling demand for its office and hotel properties, plus pricey investments in cold storage and residential development, Crescent Real Estate Equities cut its earnings outlook for 2001 by 13% and its dividend by 32% in October.
Nelson, director of Virginia Tech's Metropolitan Institute, estimates, for example, that half of the real-estate development built by 2025 will not have existed in 2000.
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This banking regulator allowed half the community banks in our country to lend too much money for Construction and Development loans and other commercial Real Estate loans.
He figured the 36, 000 travel shops and corporate travel offices scattered across the country had the same kind of untapped potential for development as did Atlanta's real estate a decade earlier.
Business development is another ripe avenue for real-estate professionals, notes Mr. Hargis, who is also a human-resources adjunct professor at Suffolk University in Boston.
This development is important for investors as REITs invest in real estate, get special tax considerations and offer high yield.
Jonathan Pincus, a senior country economist for the United Nations Development Program in Vietnam, says that the real estate boom is largely speculation from people with excess cash.
One part of the endowment focuses on community development work, mostly in the outer boroughs, such as job training, nonprofit real estate development, the Freelancers Union health care program and support for food businesses from artisanal food companies arising in Brooklyn to larger food processing plants that provide employment.
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Included are revenues from real estate development around stadiums, rock concerts on nongame days and signing bonuses for players who go on to the big leagues.
In mid-August, the government announced new measures aimed at curbing rapid real estate price rises by restricting lending for luxury flats and increasing the supply of land for development.
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While the restaurant industry has been hammered over the past couple of years by a consumer-spending pullback, lower real-estate and development costs and lower rents have emerged as a tailwind for those chains still in expansion mode.
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