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Auditors have few quibbles with Amway Center

News regarding audits is rarely positive. However the attached front page article in the Orlando Sentinel points to one of those rare moments. Comptroller Haynie sums it up with this comment. "We think the city and the Magic and their construction team have done a good job," They understood public scrutiny was an important part of this project."
Magic President Alex Martins stated "This report provides confirmation that this public/private partnership between Orange County, the city of Orlando and the Orlando Magic was a successful one, and it can serve as a good model to build a world-class community venue,"
SC-Advisors lead the financial controls aspects of the project and would like to thank everyone on the Amway Center Development Team for their incredible work and commitment to accountably.

Emerging Trends in Real Estate

After three years of dislocation and delaying unprecedented losses, the U.S. real estate industry finally sees some hopeful signs in 2011 of tempered improvement—across all markets and all property sectors. Emerging Trends interviewees expect halting advances in digging out from the recent avalanche of ill-considered commercial property investments and problem loans, but grow concerned about larger economic forces that could stunt any upturn and make the course more treacherous. "It's always been a mistake to bet against the U.S. economy," says an interviewee. "Just this time it's different. We haven't gone through a gardenvariety recession, and now we're facing a huge deleveraging process, which means a subdued recovery." Worries mount that the nation and its real estate markets enter a disconcerting period of limits and uncertainty—an "Era of Less."

The Slow Fix

"American cities are always looking for quick fixes to revive their moribund downtowns," Witold Rybczynski, professor of urbanism at the University of Pennsylvania, wrote in a May 15 New York Times op-ed article, a review of the High Line, New York City's popular elevated park. "Sadly, the dismal record of failed urban design strategies is long: downtown shopping malls, pedestrianized streets, underground passages, skyways, monorails, festival marketplaces, downtown stadiums-and that most elusive fix of all: iconic cultural buildings. It appears likely that we will soon be adding elevated parks to the list."

Emerging Trends in Real Estate

After three years of dislocation and delaying unprecedented losses, the U.S. real estate industry finally sees some hopeful signs in 2011 of tempered improvement—across all markets and all property sectors. Emerging Trends interviewees expect halting advances in digging out from the recent avalanche of ill-considered commercial property investments and problem loans, but grow concerned about larger economic forces that could stunt any upturn and make the course more treacherous. "It's always been a mistake to bet against the U.S. economy," says an interviewee. "Just this time it's different. We haven't gone through a gardenvariety recession, and now we're facing a huge deleveraging process, which means a subdued recovery." Worries mount that the nation and its real estate markets enter a disconcerting period of limits and uncertainty—an "Era of Less."

ULI Real Estate Business Barometer

The top eight trends in this month's Barometer point to an evolving fragility as economic indicators reacted strongly to early August's federal political and financial turmoil. Real estate capital markets were mixed, if only because some key positive indicators are reported on a lagging basis, and the weak housing data stay weak. The direction, pace, and comprehensiveness of this month's sobering data is distressing, but there is some consolation in the fact that, compared with a year ago, 64 percent of the key indicators in the Barometer are better and 36 percent are worse.