by Pillsbury's Construction & Real Estate Law Team In our latest roundup, Airbnb advocates for new short-term rental rules, the U.S. Supreme Court rules on hefty development fees, loan losses becomes greater issue for banks, and more ..read more

by Anthony B. Cavender Soon after taking office, President Biden issued Executive Order 14008, entitled, “Tackling the Climate Crisis at Home and Abroad.” This is an unusually long and complex executive order and includes many provisions relating to environmental justice and the plight of “disadvantaged communities” that are overwhelmed by many environmental threats. Section 223 of the Order describes the President’s “Justice40 Initiative,” which is designed to ensure that 40% of Federal benefits flow to disadvantaged communities through an “all of government approach.” There is a recognition ..read more

by Pillsbury's Hydrogen Practice When it comes to renewable energy, hydrogen is hailed as a pivotal resource in the zero-carbon game plan. Hydrogen energy is accessible, produces lower greenhouse gas emissions and can use existing gas infrastructure to power electricity and heat, produce other gases and fuels, and more. Recently, a “new” type of hydrogen—has captured the attention of climate scientists. Natural hydrogen—often referred to as gold hydrogen—stands apart from other, more established types of hydrogen, which require extraction and expensive maneuvering to produce. Natural hydrogen ..read more

by Pillsbury's Construction & Real Estate Law Team In our latest roundup, major league sports franchises turn to real estate to increase their value, the Associated Builders and Contractors releases a guide on artificial intelligence, New York City helps landlords convert empty office space into housing, and more ..read more

by Michael S. McDonough, Robert A. James and Amanda G. Halter   Whether by land, by sea or through human innovation, carbon sequestration is likely coming to (or already happening in) a destination near you. As our planet, overdosed on greenhouse gases, battles climate disasters, a logical solution is to simply stop pumping carbon dioxide into the air. Legislation worldwide is aimed at that target, but reducing output alone may not be enough. There are still billions of tons of extra CO2 already in the atmosphere—this crossroads is where sequestration comes into play ..read more

by Amanda G. Halter, Jillian Marullo and Ashleigh Myers The U.S. Department of the Interior (DOI) published a proposed rule aimed at modernizing and streamlining the “Type A” Natural Resource Damage Assessment (NRDA) regulations under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and the Clean Water Act (CWA). (The comment deadline was later extended.) The revisions, first previewed in a January 2023 Advanced Notice of Proposed Rulemaking (ANPR), are intended to fulfill “the original statutory purpose of providing a streamlined and simplified assessment pro ..read more

by Pillsbury's Construction & Real Estate Law Team In our latest roundup, office occupancy rates hit all-time lows, global hotel investment to exceed numbers from 2023, federal courts look into real estate commissions, and more ..read more

by Matthew D. Stockwell In response to the June 2021 Champlain Towers collapse in Florida, New Jersey supplemented its State Uniform Construction Code Act by enacting legislation (effective January 8, 2024) to strengthen laws related to the structural integrity of certain residential structures in the State. The legislation applies to condominiums and cooperatives (but not single-family dwellings or primarily rental buildings) with structural components made of steel, reinforced concrete, heavy timber or a combination of such materials. The legislation also supplements the Planned Real Estate ..read more

by Emily K. Bias and Brittany Griffith Legislation was recently introduced to the U.S. Senate and House of Representatives proposing the creation of the first-ever Workforce Housing Tax Credit (WHTC) for middle-income housing developments. Similar to the existing Low-Income Housing Tax Credit (LIHTC), the WHTC would provide additional federal income tax credits to housing development projects for tenants making between 60% and 100% of Area Median Income (AMI). The allocation of WHTC would be based on a competitive bid process and awarded to developments over a 15-year credit period (as opposed ..read more

by Pillsbury's Construction & Real Estate Law Team In our latest roundup, hospitality and real estate companies create living options, SEC questions some financial institutions on exposure to risks from CRE, renting shows signs of overtaking buying in the housing market, and more ..read more