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Industry Insights

Strategies for Success in Hospitality Investments

Hospitality and hotel development projects are subject to the same economic challenges as others in the real estate industry, including high construction costs and a heavy debt burden pressure. But pent up post- COVID demand and underserved markets in the space can translate into investment opportunities for those who know where to look and how to navigate this nuanced asset class.

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2023 Year in Review: Jerry Maffia, Project Management Advisors, Inc.

Our company and specifically several individuals from our local office were brought in to rescue a project that had gotten away from the original project team. We were able to turn the project around and deliver it to the developer and operator ready for use and occupancy in the fall.

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JLL: Hybrid Work Here to Stay

“I think this new approach is more humane,” Sonnet Hui, general manager and vice president at Project Management Advisors Inc., said. “And I actually think it drives more flexibility because it treats people like adults. It allows them to make decisions on their own and balance what they need to do in the work environment, as well as in their own personal lives.”

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On The Horizon For CRE In 2024: All Eyes On Interest Rates, Ailing Office, Multifamily Supply Surge

Higher interest rates coupled with slower rent growth have made new development prohibitive, with new starts trending down through 2023, and many cities can expect new supply to peak in 2024, Solit said. As the gap between average monthly mortgage payments and average monthly rent payments widens, more people will choose to rent, Project Management Advisors Project Director Peter Jones said.

Industry Insights

Q&A: Project Management Advisors’ Mark Knott Discusses 2024 Hospitality Trends

Throughout 2023, the hospitality industry has experienced a number of shifts. To understand more about current trends in the hospitality industry and where it is headed in the new year,...

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Emerging from a Recent Pullback, Life Sciences Has a Pulse

Ken Richter, Executive Vice President and National Life Science Sector Leader at Project Management Advisors, tells that there has been an “extraordinary amount” of speculative R&D space that has started construction in the major and even secondary life science markets.

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Is Investing About to Get Easier? Here’s Our 2024 Outlook For Housing Prices

It’s also unlikely that new construction will meaningfully add to the available inventory, according to Micah Solit, project director at Project Management Advisors, a real estate consulting firm. “High development costs and high costs of capital have greatly affected the number of new construction starts this year and have even resulted in projects getting paused,” said Solit in an interview with BiggerPockets. “We anticipate that to persist for most, if not all, of 2024.”

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Examining Current and Future R&D/Lab Space Trends

Following the pandemic, major and secondary life sciences markets experienced a boost in speculative construction, said Ken Richter, Project Management Advisors’ Executive Vice President and National Life Science Sector Lead. As a result, R&D vacancies will increase in 2024, even as under-construction lab and R&D space fell in Q3 2023, a CBRE report said.

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Demand Fuels Strong Retail Recovery in Texas

"The fundamentals associated with all of the major Texas cities are making retail a very attractive proposition," says G. Matthew Silvers, a vice president in the Austin office of Project Management Advisors (PMA), a development management firm.

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Architects Eye Affordable Housing

“I think we all know that Los Angeles is facing a housing crisis,” Sonnet Hui, general manager and vice president of Project Management Advisors Inc., a Chicago-based real estate consultant firm which specializes in development and property management, said.

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Is It Raleigh? Nashville? Experts Identify Which Market Could Be the ‘Next Austin’

Leon Camarda, Vice President and General Manager of Project Management Advisors, tells that Tampa has many of the same drivers for substantial growth that powered Austin to the country’s fastest-growing city, including a low cost of living and a favorable tax environment.

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Developers eyeing Biden’s office-to-apartment conversion initiative

Sonnet Hui, general manager and vice president for Project Management Advisors, Inc., said Biden's initiative is needed. The initiative, she said, is a great way to incentivize developers and a "step in the right direction" to meet the nation's housing needs.