New and Old #179
Friday roundup and commentary
DC’s Office Real Estate Market May Not Be Doomed After All, Washingtonian, Michele Lerner, September 9, 2024
There are two bright spots in the region’s office market: buildings built after 2020 and historic buildings that date from before 1950. Those are the only types that have seen more tenants leasing space than leaving in the past year, says Melina Duggal, a senior director of market analytics for Washington, DC, at CoStar, a commercial real-estate data-analytics firm.
Interesting! Why?
As leases expire, many companies are downsizing and taking a “flight to quality,” she says, opting for space in a newer building with the latest bells and whistles. In this area, quality also refers to older historic buildings, which can have a lot of charm.
In other words, nobody wants the generic, aging 1970s office building that make up a lot of the office space. Some of those might make good conversions to housing, then, but Lerner notes that the older buildings are also easier to convert into housing because of their smaller footprints. Washington, D.C. apparently has more office-to-residential conversions than any other major city, which is interesting.
There’s some interesting stuff about financing here too. Read the whole thing if any of this interests you.
This restaurant is run by grandmothers. Customers clap for them each night., Washington Post, Sydney Page, January 24, 2023
“They just have to be women that can bring their culture forward,” he explained, adding that the cooks — all of whom are called “nonna” by patrons, regardless of their background — range in age from 50 to 90, and possess a deep knowledge of their culture’s unique cuisine. While most are grandmothers, some are not.
The nonnas come from around the world: Brazil, Argentina, Peru, Puerto Rico, Italy, Germany, Greece, Poland, Armenia, Sri Lanka, the Philippines, Hong Kong, Taiwan, India, Egypt, and Trinidad and Tobago. The list goes on.
The owner is a Scaravella and one of the most loved nonnas is a Gialanella. What a neat mix of old-school Italian-American culture with an international concept. It’s not just a gimmick, either:
“My whole life, I never wanted to go to an Italian restaurant, because it just never hit the spot,” he continued. “These ladies, they’re the source. They are the vessels that carry this information forward.”
There’s also a very interesting angle here where regular people who aren’t trained chefs or restaurant operators are allowed to take part in the business. Imagine a business and regulatory environment where everyone could do that.
I was reminded that the best way to slow cars isn’t by enforcement, speed limits, or even traffic signals—it is through road design. There are multiple design factors compelling drivers in Scotland to slow down. These include the give-and-take of yielding, the inherent complexity of roundabouts, and the formality of passing places. The perceived risk of a single-track road requires drivers to lighten up on the gas. Even the two-lane streets and roads are often narrower in Scotland than they are here. The best advice I got from Rick Steves about driving in Scotland was this: “Adjust your perceptions of personal space: It’s not ‘my side of the road’ or ‘your side of the road,’ it’s just ‘the road’—and it’s shared as a cooperative adventure.”
There’s a relationship between bad driving and misanthropy and road design. I’m often struck by how the experience of driving makes it very hard not to perceive other people as being in your way. Is that an us problem or a road problem? I suppose it’s both. This is a really nice read.
History of Waikiki’s Hotels, Hawaii Living, April 24, 2018
We stayed a few years ago in Waikiki, and it’s not hard to see why it’s considered one of the greatest beaches in the U.S. This is a neat history of the beachfront hotels and development from the late 1800s to recent years.
This is also a bit of trivia I’ve never heard, underscoring Hawaii’s ties to Asia:
The Japanese investment boom of the time saw some leisure properties bought up, but the development side driven by it was mostly outside of Waikiki. Any chance that they’d get around to buying up more of the world-renowned resort district was put to rest once the Japan economy crashed in the 90s, which drove Hawaii into recession as well.
Give it a read.
Related Reading:
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I drove a cab in New York for two years in the 1980s. This left me with the permanent conviction that other drivers are in MY way.