2015 Year in Review - ?Daniel Bernstein

What was your most notable project, deal, transaction or professional achievement in 2015?   Advised developers how to build successful residential, commercial and mixed-use projects in the face of the (temporary) expiration of the 421-a property tax exemption; and enacted or proposed statutory or regulatory amendments to the 421-a, 420-c, ICAP, Inclusionary Housing and other economic incentive programs. What real estate project, transaction, market trend or product had a significant impact on your industry in 2015?   The Rent Act of 2015 extended and/or reshaped economic incentives for residential projects (421-a, J-51, condominium/coop abatement, etc.) and for commercial projects (ICAP), extended and revised rent stabilization requirements, and impacted many other aspects of development and property ownership. How will you be supercharging your productivity in 2016? Simply, joining Venable this past October. I have access to a team of real estate lawyers that works with developers to plan and build successful projects, including compliance with affordable housing and other economic incentive programs. What emerging trends will drive investment and development in 2016?   Residential multifamily trends: 421-a property tax exemption availability and requirements; status of proposed Mandatory Inclusionary Housing (MIH) and Zoning for Quality and Affordability (ZQA) amendments.  How will economically successful mixed-income projects be underwritten?  What affordable units will be built and how will these projects be economically incentivized through property tax reduction, zoning bonuses and/or subsidy programs?