The rise of electric vehicles is forcing real estate developers to adapt - Jacksonville Business Journal

Amid a surge of electric car sales in the U.S. that's expected to accelerate in the years to come, there's a shortage of chargers in places where drivers need them most: at home and at work.

While EV drivers can use public charging stations, it’s less disruptive for their daily routines, and often cheaper, to charge vehicles at home or work. People in more rural states may have a tough time finding public chargers, making it even more important that they can get a full charge at home or work.

Some states, such as California, have created sunset dates for new internal combustion vehicle sales by 2035, and many foreign countries have also set dates to go all EV. That has influenced large vehicle makers, especially luxury brands, to ditch their tailpipes. "Three years ago, it was not even a big factor," he said."A year ago, it became almost a must in certain quality buildings, and today, it’s rising further. I don’t think I have a project now that’s not putting them in."Mike Kuhn

American Landmark has installed EV chargers in 10 properties so far, and it's going to make them a standard part of the renovation package for apartment communities it acquires, said, head of capital markets and environmental, social and governance for Trammell Crow Co., which owns 108 apartment complexes in eight states. The number of stations it installs at each property depends on demand, but it creates stations that can be easily expanded to scale up with demand in the future, she said.

“We have seen demand for chargers, and many prospective tenants are asking whether we have EV chargers,” Russo said."This question is much more common than it was three or four years ago. We understand that EVs are a growth industry, and we want to be able to provide all the amenities our tenants require."While they are being used more frequently, most charging stations still aren't operating in the black.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IKEA Jacksonville to open express entrance to café - Jacksonville Business JournalThe new entrance will be available to customers from 9:30 a.m. to 1:30 p.m. on weekdays.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

The rise of electric vehicles is forcing real estate developers to adapt - Jacksonville Business JournalAs the number of electric vehicles grows around the nation, real estate developers are tweaking their strategies — but it's often costly. Here's how they're adapting.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Regency Center's earnings up in 2022, Q4 rises from 2021 - Jacksonville Business JournalThe Jacksonville-based national shopping center developer reported increases in net income from Q3 to Q4 and overall from 2022 compared to 2021.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Daniel Davis sues TV stations, calling 'Dirty Daniel' ad defamatory - Jacksonville Business JournalDaniel Davis sues TV stations, calling 'Dirty Daniel' ad defamatory
Source: JaxBizJournal - 🏆 599. / 51 Read more »

SBA PPP loan forgiveness update for 'good faith' errors - Jacksonville Business JournalOutside groups lobbied the SBA for months in 2022 on behalf of what they said were 300,000 business owners that may have been impacted.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Gallery: Renderings and designs for six downtown parks in the works - Jacksonville Business JournalRenderings of downtown park designs early in the process show a transformed riverfront with playgrounds, restaurant space and public art. Who and why did we decide to move the child’s play area to the front of the landing park vs the back? I prefer the original design.
Source: JaxBizJournal - 🏆 599. / 51 Read more »