COMMERCIAL REAL ESTATE
Philadelphia-based Brandywine Realty Trust is preparing to launch a new coworking-type service at 8260 Greensboro Drive in Tysons. The Brandywine Experience, or Bex, will feature shared workbenching, private conference rooms, lounge space and a kitchen and bar area for its tenants, regardless of where they now lease space. Read more at the Washington Business Journal.
Renovations to Towson’s Heaver Plaza to Begin Next Month
8 Greenridge Road LLC has acquired Heaver Plaza at 1301 York Road in Towson from Heaver Plaza II LLC for $6.75 million. Renovation plans for the 49-year-old, 111,000-square-foot property include developing over 4,000 square feet of ground-floor retail, a new patio area and the option to develop an additional four acres. Read more at the Baltimore Business Journal.
August Unemployment Numbers Stay Steady
The Labor Department’s Bureau of Labor Statistics reports that Baltimore’s unemployment rate was down from 4.6 in July to 4.4 percent in August. D.C.’s unemployment rate held steady at 3.5 percent. Nationally, 340 of the country’s 388 metro areas saw a decrease in unemployment in August. Read more at Washington’s Top News.
Conscious Venture Lab’s Latest Cohort
Conscious Venture Lab and SHIFT Ventures have selected six local startups to participate in its latest accelerator program in West Baltimore. This cohort includes companies working on education, healthcare, financial literacy and economic opportunity for returning citizens. Participants in the four-month program will receive educational curriculum and $100,000 equity investment. Read more at Technical.ly Baltimore.
Council Approves Short-term Rental Restrictions
D.C. Council unanimously approved new licensing requirements for short-term rentals such as those made with Airbnb. If approved, home owners will be prohibited from renting out secondary homes on a short-term basis and a 90-day cap on primary residence rentals when they owner is not present. Read more at Curbed DC.
Insurance Rates Rising Faster Than Inflation
The Kaiser Family Foundation’s Employer Health Benefits Survey found that families and employers are paying nearly $20,000 a year for health insurance in 2018. Average premiums have increased 55 percent for families and 47 percent for single coverage since 2008. Read more at CNN Money.