A real estate investment trust in Hong Kong has successfully turned a profit on the retail spaces located in the SAR's myriad of public housing developments.
"The free market at work: the Hong Kong government owned a batch of unprofitable shopping malls and parking lots that it put into private hands two years ago. On Tuesday, this assortment of properties, which became the territory's first and largest real estate investment trust, posted higher-than expected profits for its first half year."
"The malls and parking areas were notorious for poor management and high vacancy rates when they were under the government control. The Link revamped the malls one by one, replacing dirty fast-food stalls with sushi bars and coffee shops, while trendy fashion retailers were substituted for messy bargain booths.
According a UBS research report, the Link has hired more than 1,000 customer services staffers to replace stern-looking security guards. Making the malls more shopper friendly, UBS forecast will help raise rental income to $2.7 billion Hong Kong ($348 million) in 2008 from $1.6billion Hong Kong ($208 million) in 2004, when the assets were run by the public sector."
Read the full story: A Strong Link
‘Going backwards:’ Baltimore mayor, students rally against state's transit funding plan
Maryland's proposed six-year plan provides no funding for Baltimore’s BMORE bus program and reduces its road maintenance funding.
Detroit to transform waterfront with $2.2 billion investment
Developers will convert about 18 acres of unused parking lot space into civic spaces.
Mamdani sent nearly 6,000 pied-à-terre tax warnings to homes that didn’t qualify
A judge has ordered the administration to cancel thousands of pied-à-terre tax notices after it sent 35% of them erroneously.
25 states, cities sue the EPA over erased power plant emissions limits
The coalition also intends to sue the EPA for not regulating emissions from gas-fired power plants.
Newsom vetoes giving CA tribes greater voice in water projects
In his veto letter, Newsom said the bill would add ‘uncertainty’ to the state’s fight to secure Californians’ water supplies.
Michigan Senate votes to revise 'lax' dam safety laws
A Bridge Michigan investigation found more than 100,000 Michigan residents live in the floodpath of a high or significant-hazard dam.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Thousand Oaks
City of Wisconsin Rapids
Harvard University Graduate School of Design
The Architects Foundation
University of Cincinnati Online
Northern Illinois Transit Authority (NITA)
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello