Pennoni’s Post

ADOT's 2050 Long-Range Transportation Plan (LRTP) provides a blueprint and vision for the state's future transportation system over the next 25 years. Highlights: - Under current projections, 2050 transportation needs are estimated to be $231 billion. With current funding sources, there is an estimated $30.5 billion funding gap. - The 2040 plan focused 78% of funding for Greater Arizona (not including Maricopa Association of Governments (MAG) and Pima Association of Governments (PAG) areas) on preserving and maintaining the existing system and 22% on modernization and safety improvements. - On average, the Phoenix and Tucson regions are expected to receive $512 million annually. Of that, $223 million comes from voter-approved regional programs in those two metropolitan areas dedicated largely to highway expansion. Arizona Department of Transportation #arizona #transportation #longrange #transportationplan #2050

Curious about the insights shared at #NASLEF's 29th Annual Conference? Dive into FORVIS’ key takeaways, covering topics like LIHTC and growth opportunities in the affordable housing industry.

Curious about the insights shared at #NASLEF's 29th Annual Conference? Dive into FORVIS’ key takeaways, covering topics like LIHTC and growth opportunities in the affordable housing industry.

The metric system, never really made it in the USA. I made the comment to several UF co-workers and they told me “that ship has already sailed” it will never fly. I don’t think so. It is worth it a good try to implement its education and implementation again. It is so easy, it is a no-brainer. What do you think? Here is an SNL satire about it. https://lnkd.in/eQkA3yxv

OPENING DAY OF THE GWB. 92 years ago today, on October 24, 1931, the George Washington Bridge opened, linking Manhattan’s Washington Heights to New Jersey’s Fort Lee.   5,000 people in the stands and thousands more gathered around the New York and New Jersey sides, New York Governor Franklin D Roosevelt said, “Get on your mark! Get set! Go!” before snipping the ribbon and opening the bridge to traffic as airplanes roared overhead, boat whistles tooted, and a band played “The Star-Spangled Banner.” The three New Jersey routes converging at the Fort Lee plaza of the new Hudson River bridge is described as the widest roadway in the world. The thoroughfare at its greatest limit is 350 feet across, sufficient for 35 lanes of vehicles, each 10 feet. With due ceremony, it was opened officially by Major General Hugh L. Scott, chairman of the New Jersey State Highway Commission. In 1962, the lower level of the bridge, colloquially known as “the Martha,” opened to traffic. The additional six lanes made the bridge the only 14-lane vehicular crossing in the world.   Some bridges are physical, while others are metaphorical. A physical bridge is constructed for the purpose of providing passage over an obstacle, which is usually something that is otherwise difficult or impossible to cross. Today, we have more metaphoric walls instead of metaphoric bridges. We are all just about fed up with the deep political schism our nation is suffering. Irrational rants on social media or walking on eggshells around the office to avoid any controversial issues flaring. Celebrating differences of all kinds should be more highly valued, but we are only making slow progress. So, what are we to do? Retreat to our ideological ghettos where everyone is like us and hope we never have to engage with people who are fundamentally different. The pathway of our lives is to continually cross bridges. The bridge to new horizons, new understandings, building relationships, and understanding other people’s opinions. This can only be done by going over a bridge and not through a wall. #nyc  #history   #shankerlaw

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Do you need assistance with understanding 529 plans and Coverdell ESA? Let our team lend a hand! We excel in college planning and are here to guide you in making the optimal decision for your family. https://hubs.li/Q021CyML0 #FulcrumFinancialGroup #SarahCarlson #FacingFinancialFears #CollegePlanning

I had a great time at the ULI Austin breakfast panel discussing UT-Austin's real estate development. It was a fascinating overview of UT's thinking. One thing not really mentioned was the push-and-pull that UT taking a more active roll in real estate development will have with the private market. It seems nearly certain UT will utilize the power of the private market for the construction and delivery of any new housing (i.e. P3s) ....but what of the eventual impact on the broader student housing market, particularly the concentration of housing investment in West Campus? I see UT's involvement (as well as comments made of the Housing Scholarship Pilot Program being a model which may be expanded in the future, thus potentially eventually creating a significant mass of units at a lower rate) as indicative of a need for a strategic pivot on the basic idea behind West Campus. This is why I have previously proposed that it is time to think of the future of West Campus as an Uptown District including high-end condos, in support of downtown (to go with Project Connect) rather than something so concentrated on purpose-built student housing. A mix, or "town and gown" model is probably the best future for that neighborhood. This means continuing the trend of increasing land values, allowing the energy of private equity investment to continue unabated. This proposal is a part of the same larger model as the Scholarship Pilot Program, and indeed an Uptown District supports and is symbiotic with the Pilot Program. As such a process would necessarily play out over a 5-10 year period, UT could continue to gradually expand its own portfolio of housing for its students and increase the stipends available through the Pilot Program without adversely affecting the private market, which by then would begin to deliver a product with higher-end tech workers in mind. The long-term, gradual approach seems the most prudent. There is another symbiosis at play here, which is that a successful Uptown district housing tech workers would protect the tremendous investment that has been made in downtown commercial real estate from economic downturns (San Francisco, anyone?) A revision to the design guidelines of West Campus could also include greater requirements that the first floor of buildings be accessible to the public, rather than lobbies as so many of those buildings are. Having a more natural street life in that neighborhood should correlate with lower crime.

The Southside of Savannah is receiving millions of dollars of investments. Windsor Forest High School is scheduled to open in July 2025. This new school is a $92 million dollar investment into this booming part of Savannah, GA. If you want to learn more about this market and get more information on our upcoming deal, click the link in the comments. #commercialrealestate #multifamilyinvesting #passiveinvesting

Interesting West Michigan housing market report... "In 2023, home prices have continued to rise in the region reflecting a strong demand for housing together with a low supply of homes for sale. However, high mortgage rates have slowed down the rate of home sales and kept construction activity stable in comparison to 2022. These changes at the local level contrast with national level trends, where home prices have stayed stable and construction activity has dropped. As the national economy continues to avoid a recession, local housing market conditions are likely to stay unchanged in 2024."