Federal regulators have cleared two national banks to develop office and hotel properties -- actions long barred by the Treasury Department. What does this imply for the development environment?
"The question is whether these two projects suggest that federal regulators will make it easier for banks to compete directly with developers. Regulators have traditionally limited banks from owning and developing commercial properties since a sudden decline in the real estate market could put bank capital at risk, especially if the bank acts as both the owner and developer of a project.
...Real estate attorney Russell Bershad is also puzzled at why any bank would want to enter the development fray, and he sees some important differences between bankers and developers. "Developers are so nimble and non-bureaucratic, not to mention willing to take risks," says Bershad, chairman of the real estate department at Newark, N.J.-based Gibbons DelDeo."
FULL STORY: One Tall Order: Banks As Developers

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
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