Real Estate & Construction News Roundup (09/12/23) – Airbnb’s Future in New York City, MGM Resorts Suffer Cybersecurity Incident, and Insurance Costs Hitting Commerical Real Estate
In our latest roundup, the FDIC handles the portfolio from Signature Bank, the U.S. Army Corps of Engineers funds a new center at Illinois, the Athletics take their next steps in their move to Las Vegas, and more!
- For those looking to rent an Airbnb for future travel to New York City, it just became much harder with new rules taking effect on September 5th. (Natalie Lung, The Washington Post)
- This past weekend MGM Resorts suffered a cybersecurity incident that affected some of the company’s systems with the extent of the incident still unknown. (ABC)
- Among issues such as rent increases and general inflation, commercial real estate is also having to contend with rising insurance costs due to climate change. (Justin Worland, Time)
- With the Athletics aiming to start playing in Las Vegas in 2027, they’ve hired a construction management team to be responsible for overseeing all construction-related activities. (Jason Burke, Sports Illustrated)
- A new survey suggests that worker shortages are common in the construction industry as 85% of construction firms have open positions that they are trying to fill. (Matthew Thibault, Construction Dive)
- With economic and climate concerns mounting, construction companies are more than ever looking to technology for more efficient and sustainable approaches. (Melik Demirel, Forbes)
- The U.S. Army Corps of Engineers will be funding a new research and development center dedicated to autonomous construction technologies at the University of Illinois. (Matthew Thibault, Construction Dive)
- The Federal Deposit Insurance Corp. (FDIC) said it will create joint ventures with potential buyers for the portfolio of affordable-housing assets it took over from Signature Bank. (Omar Mohammed, Newsweek)
