Blackstone Real Estate, a division of private equity behemoth Blackstone Group (NYSE: BX), has agreed to acquire the entire U.S. logistics portfolio of Singapore-based investment manager GLP for approximately $18.7 billion. The portfolio of distribution and fulfillment centers spans roughly 179 million square feet of urban infill space across 36 major markets, nearly doubling New York City-based Blackstone’s volume of U.S. industrial real estate holdings. The sale is expected to close sometime after Labor Day.
Earlier this year, after years of debate, Los Angeles County’s Board of Supervisors approved a master-planned development set to bring nearly 20,000 new homes to the northern edge of the county. Despite extensive environmental analysis two dissident groups are suing to stop the development, arguing that it will worsen pollution, traffic, and urban sprawl in the region.
For decades, the city used strict zoning laws to target the poor and people of color. Today, liberal NIMBYs are fighting to preserve them. Thanks to Dennis Murphy for calling attention to this article.
As we approach the end of the 2010s, the biggest cities in the United States are experiencing slower growth or population losses, according to new census estimates. The combination of city growth declines and higher suburban growth suggests that the “back to the city” trend seen at the beginning of the decade has reversed.
For some time, the mainstream press and conventional urban planners have been obsessed with a “dense urban” narrative. Wendell Cox argues that this is largely a myth, as demonstrated by resurgent growth in suburbs and exurbs.
The plan mandates that all new municipally owned buildings and major renovations be all-electric and that every building in Los Angeles be emission-free by 2050. By the mid 2030s, at least 80% of the city’s electricity will come from renewable sources, and 80% of its cars will run on electricity or zero-emission fuel.
Granting land titles is part of government efforts to promote rural development as set out in the 2016 peace deal signed with the Revolutionary Armed Forces of Colombia (FARC) rebels. Unequal land distribution was a key reason why the FARC took up arms in 1964 as a Marxist-inspired agrarian movement that fought to defend the rights of landless peasants. The government aims to formalize 7 million hectares of land, of which so far nearly a quarter have been titled, according to the University of Notre Dame’s Kroc Institute for International Peace Studies.