Zoning Laws Grow Up

This city's zoning codes regulating the size, use and location of buildings could sap the life force out of all but the most zealous urban enthusiasts.
"Zoning has always concerned itself, for better or worse, with social matters, such as banishing noxious uses," said Julia Vitullo-Martin, a senior fellow at the Regional Plan Association. "What's different now is that the planning commission is moving from zoning that's negative on social issues to being positive, like mandating green markets and bike rooms.
It's reasonable for city government to encourage people to move in a beneficial direction. Whether zoning is the correct device is another matter. A market person might say it's better to go with incentives than mandates." As such, zoning is something of which every New Yorker and visitor ought to be aware.


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Judah Hertz is buying office buildings

California investor Judah Hertz is buying office buildings


After a four-year hiatus on the sidelines, California investor Judah Hertz is buying office buildings in small cities with some of the highest vacancies and lowest demand in the country. That probably means more torment for other landlords in these markets.
Attractive yields are increasingly luring investors like Mr. Hertz further afield to office markets in smaller cities and suburban areas. During most of the downturn, investors have focused on major cities like New York and Washington, but this has driven prices up and yields down, to under 5% in some cases.

"I should be in a very competitive situation," Mr. Hertz says.

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