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Real estate

The silent majority in commercial buildings

I worry about the state of our building industry. Our buildings account for 40 percent of the nation's energy use, yet we don't have a strong standard for measuring and, consequently, improving performance. Despite studies indicating great potential for reducing our buildings' collective appetite for a volatile energy supply, the LEED rating system has proven more publicity stunt than reliable energy saver. It's time for serious energy performance metrics.

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Lancaster housing group expands

The past few months have been busy ones for Housing Development Corporation. MidAtlantic, bringing a major expansion and a name change to the 40-year-old Lancaster nonprofit.
The group, commonly known as HDC, employs 130 people and it owns and manages roughly 3,000 affordable rental-housing units in 11 Pennsylvania counties.
A major part of that tally, as well as geographic reach, is thanks to a February deal HDC made with Pasadena, Calif-based Everest Properties.

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Boomer effect

Members of America's largest generation, the baby boomers, are about to butt heads with their children, known as Generation Y or the millennials. Now that the latter is grown, it has nothing to do with family arguments about curfews or video games.

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Watching for revival

The speed of Fulton Financial Corp.'s redevelopment of a half-acre of downtown Lancaster property will be determined by how quickly the economy improves, the Lancaster-based financial firm said.
Fulton, parent company of Fulton Bank, purchased a building and adjoining parking lot on East King Street last year.

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Agents: Rates trigger commercial relocations

Interest rates on commercial loans are expected to increase as early as next year, and that has motivated developers to move forward with projects and made other property owners put their buildings on the sales market, regional commercial real estate agents said.
Some developers have waited for the economy to improve to develop projects, said Drew Bobincheck, an agent with Landmark Commercial Realty Inc./Oncor International, based in East Pennsboro Township.

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