Medical Space Needed?

According to Marcus & Millichap Real Estate Investment Services, President Obama’s new healthcare insurance program, if imposed, could create the need for 10,000,000 SF of new medical space. This is something for investors to keep their eye on.

For more information on this topic, check out the article Medical Office Market Could Need 10M SF of New Space if New Health Program Enacted, Says Marcus & Millichap from Real Estate Channel.

City Of Champions

Congratulations to the Pittsburgh Penguins on winning the 2009 Stanley Cup. With the Pittsburgh Steelers winning  Super Bowl XLIII earlier this year, Pittsburgh is the first city to hold both the NFL and NHL titles in the same year.

To read more on this topic, check out the article Penguins beat Red Wings, 2-1, in Stanley Cup thriller from the Post-Gazette.

29th Is The Best

Pittsburgh is even loved by the British. The Economist magazine has named Pittsburgh the most livable city in the U.S. and 29th in the World. Vancouver, B.C. topped the list.

With the recent announcement by President Obama to hold the next G-20 Summit in Pittsburgh, this area is truly on the International radar.

For more on this topic, check out the article Pittsburgh ranked tops in U.S. by The Economist from the Post-Gazette.

A Little Help From Some Friends

In 2008 Pittsburgh added 297 residential units.  The Pittsburgh Downtown Partnership wants more, and they’re putting their money where their mouth is. The PDP has announced a $3.5 million project intended to assist building owners in redeveloping unused upper floors.

To read more about this topic, check out the article Pittsburgh Downtown Partnership seeks more affordable housing from the Tribune-Review.

Multi-Family Vacancies…Says Who?

In a report done by NAR/TWR, the city with the lowest multi-family vacancy rate for first quarter 2009 is….drum roll please…..you guessed it, Pittsburgh, PA.  With a vacancy rate of 4.4%, Pittsburgh edged out San Diego (4.7%), Northern New Jersey (4.8%) and San Jose (4.8%) for the top spot.  The national vacancy rate for the first quarter of 2009 is 6.0%.

To read more on this topic, check out the article Economists’ Commentary: Multi-family from Realtor.org.

Let’s Walk It Out

Prevention.com has named Pittsburgh one of the United States most walker-friendly cities. Rounding out the top-ten, Pittsburgh made the list for appointing its first bicycle/pedestrian coordinator.

Congrats to Stephen Patchen (City of Pittsburgh’s Bike and Pedestrian Coordinator).  Hopefully he can build on this honor.

For more information on this topic, check out the article 25 Best Walking Cities from Prevention.com.