El Ultimo Dia. The last day of class.
I have enjoyed this class just like I've enjoyed all the other real estate courses I've taken. It has been great learning from the class discussions with Dr. Forgey and my classmates.
Transportation
The TxDOT Rail Division is urging the public to provide input regarding the Texas State Rail Plan that will be updated this fall. According to the article, The Rail Plan is required by the Texas Legislature and is also an important document that the Federal Railroad Administration (FRA) will examine to determine future funding for rail projects.
Adaptive Reuse Projects
Several articles regarding adaptive reuse were discussed. One article for example discussed a developer buying an old office building in downtown Pittsburgh and having plans to convert it to a residential building. This is a trend in larger cities. There are historical tax incentives for reusing old buildings and developers are capturing that niche market. However, when working with an adaptive reuse project there are many unknowns. When performing your due diligence, a developer should seek help from qualified experts in construction to help identify possible huge issues that may negatively impact a project. After reviewing all visible issues a cost estimate model can be built. After this is provided, it will help a developer identify whether a project is financially feasible or not.
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