Keeping up with CRE trends is as easy as 1-2-3 with our weekly piece! The Weekly Review is a new blog series that will be released every Friday. The market is constantly growing and adapting to new ventures and ideas, and our goal is to provide up-to-date information into what is happening in both the Columbus and U.S. markets, as well as the commercial real estate industry as a whole. As stories evolve, the Weekly Review will continue to follow along and update our clients and community.
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1
“Thousands of people who work for the state of Ohio are being called back into the office, which experts say will continue to aid downtown Columbus' post-Covid recovery. Gov. Mike DeWine on Tuesday signed an executive order mandating all permanent employees under his authority return to the office no later than March 17. There are about 44,000 employees under the authority of the governor in Ohio, about 17,000 of them in Franklin County. Office experts and downtown advocates say the move will benefit the city's central business district.”
2
“On Feb. 1, President Donald Trump ordered tariffs on goods imported from Mexico, Canada and China. The move, which was widely expected, called for a 25% tariff on items shipped from Mexico and Canada, with a 10% tariff on Canadian energy goods like oil, natural gas and electricity. The tariffs for goods from both North American countries have been delayed for at least 30 days, as leaders of both countries early this week agreed to certain conditions around border security and fentanyl crackdown. A 10% tariff imposed on Chinese goods went into effect as announced. Despite the pause, many in homebuilding, construction and development say the tariffs as planned would inevitably increase the prices on key materials shipped from the three countries. Those price increases would then be passed along to consumers.”
3
“Columbus City Council Monday approved legislation to partner with Downtown Columbus Inc. for the Capital Line project. Council Member Lourdes Barroso de Padilla sponsored the ordinance, which authorizes the Department of Public Service to partner with Downtown Columbus Inc. on the design and construction of the 2-mile pathway. This was the legislation's second reading, moving the project another step closer to reality. The first phase of the project will run along Gay Street from 4th Street to Front Street. Current plans show a curbless design on Gay Street from Wall Street to Pearl Alley, which designates it as a main event space for the Gay Street District, akin to a public plaza.”
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