15 STORIES

15 STORIES / PSV ORIGINAL REPORTING

Policy & Regulation

Regulatory moves, legislation, and grid policy that reshape CRE underwriting, from data center moratoriums to housing acts.

A daylight aerial photograph over Loudoun County, Virginia, looking across a dense field of low, flat-roofed data center buildings in pale grey and white, arranged in long parallel rows with rooftop cooling equipment, separated by wide access roads and parking aprons; two fenced electrical substations with lattice steel structures and busbars sit in the near foreground, a multi-lane divided highway runs diagonally through the frame at right past bare red-brown graded ground, and low suburban rooftops and tree cover stretch to a hazy ridgeline on the horizon.

THE LEAD / CRE POLICY NEWS

SEP 7, 202614 MIN READ5 SOURCES

PJM’s Firm Power Exemption Is a 10 Year Commitment

PJM told this desk’s readers in July what its Board had directed. The filings themselves are now at the Federal Energy Regulatory Commission, in dockets ER26-3380-000 and ER26-3515-000, and the comment window closed on September 3. They contain terms the Board letter never stated, and the most consequential one is what a site has to promise to keep firm power.

PSV ORIGINAL REPORTING & ANALYSIS

More from this desk.

Every Policy & Regulation story PSV has filed, newest first. Each one is written in-house and traced to a primary record.

A daylight view across a river of a waterfront block in which tall residential apartment towers with balconies stand immediately beside a dark, largely windowless data centre building topped with satellite dishes and rooftop mechanical plant, with a concrete embankment along the near bank under a heavy grey sky.

DEVELOPING STORY / 01

CRE POLICY NEWS

01 / 04

Six Federal Cases Are Testing Where a Data Center Can Sit

Five federal class actions filed since April accuse data center operators of pushing unreasonable noise onto neighboring homes, and a sixth case runs the other direction: a developer suing Nashville over a permit moratorium. PSV read all six dockets. Two of the five have already ended, neither of them on the merits, and the pattern is not the one the trade press is describing.

AUG 26, 202610 MIN READ8 SOURCES

Read the operator view

A daylight front view of the curved limestone west facade of the Federal Trade Commission Building in Washington, DC: a semicircular colonnade of tall Ionic columns beneath a stepped drum and shallow dome, with clipped trees and a low hedge across the foreground and a mackerel sky above.

DEVELOPING STORY / 02

CRE POLICY NEWS

02 / 04

The FTC Unwound Zillow’s $100M Deal. The Date That Matters Comes Later.

The Federal Trade Commission and five state attorneys general filed a stipulated final order on August 24 resolving their antitrust case over the February 2025 agreement in which Zillow paid Redfin $100 million to leave apartment advertising. Redfin has six months from entry to relaunch. Zillow’s own SEC filing says the syndication partnership continues, with no admission of liability.

AUG 25, 202611 MIN READ8 SOURCES

Read the operator view

Daylight view across a still cooling pond toward a Tennessee Valley Authority generating plant: four lattice steel transmission towers carrying multiple high voltage circuits, a crowded switchyard of insulators and breakers along the far bank, a long blue-clad turbine building at left, and a tall red and white banded stack at center under a pale blue sky

DEVELOPING STORY / 03

CRE POLICY NEWS

03 / 04

TVA Repriced Data Center Power. The Tariff Isn’t Public.

The TVA Board voted in Memphis on August 20 to move data centers out of the manufacturing rate class and onto a rate of their own. Officials at the meeting described an October 1 start, a roughly 10 percent increase, a three-year phase-in for existing sites, and an upfront capacity commitment charge on new load above 5 megawatts. TVA’s own release names none of those terms.

AUG 21, 202612 MIN READ5 SOURCES

Read the operator view

The Pennsylvania State Capitol in Harrisburg photographed from the front steps on a clear summer day: a grey granite Beaux-Arts building with a tall columned portico, a green tiled dome topped by a gilded statue, matching green domes over the wings, flanking trees, and scattered cumulus cloud overhead

DEVELOPING STORY / 04

CRE POLICY NEWS

04 / 04

Pennsylvania’s Data Center Order Turns on One Number

Governor Josh Shapiro signed Executive Order 2026-05 on August 18, directing Commonwealth agencies to hold every data center proposal with peak demand over 25 megawatts to the Governor’s Responsible Infrastructure Development Requirements. Data centers come out of the Permit Fast Track Program entirely, and the Department of Environmental Protection will not issue a permit until a project has its local and municipal approvals in hand.

AUG 19, 202616 MIN READ4 SOURCES

Read the operator view

Latest from PSV

5 STORIES / NEWEST FIRST

05BRIEF

CRE CAPITAL NEWS

DOE Leases Paducah for a $100B AI Campus: The CRE Read

The Department of Energy said on July 29 that it selected Brookfield to lease land and develop a data center campus at its Paducah Site in western Kentucky, and selected NextEra Energy to build and own the power behind it. The partners put the privately funded investment above $100 billion, with up to 1.8 gigawatts of utility capacity and more than 1.2 gigawatts of compute. No tenant has been named.

AUG 2, 202612 MIN READ3 SOURCES

06BRIEF

CRE POLICY NEWS

PJM Moves to Curtail Data Centers: The CRE Read on Firm Power

The PJM Board of Managers issued a decisional letter on July 27 directing two filings to FERC by the end of July. One creates a Reliability Backstop Procurement to backfill a 6,831 megawatt capacity shortfall. The other creates an Interim Resource Adequacy Service, under which new large loads that have not brought their own new capacity by June 1, 2027 are cut before anybody else is.

JUL 29, 202610 MIN READ5 SOURCES

07BRIEF

CRE POLICY NEWS

OpenAI’s $20B Project Camellia: The CRE Read on an Unfiled Entitlement

Effingham County, Georgia announced on July 22 that OpenAI will build a $20 billion, 3.2 gigawatt campus inside the Savannah Gateway Industrial Hub. Five days later the county published a second statement: the only document it has received is a Development of Regional Impact cover page, no completed application has been submitted, and the site plan circulating online is a blank state template someone filled in.

JUL 28, 20269 MIN READ5 SOURCES

08BRIEF

CRE POLICY NEWS

New York’s Hyperscale Data Center Moratorium: The CRE Read

Governor Kathy Hochul signed Executive Order 62 on July 14, pausing state environmental permits for new hyperscale data centers of 50 megawatts or more for up to one year while New York writes a statewide environmental study and new development standards. It is the first statewide freeze in the country, and it lands on the hottest development pipeline in commercial real estate.

JUL 17, 20266 MIN READ4 SOURCES

09BRIEF

CRE POLICY NEWS

The ROAD to Housing Act Is Law: What Changes for CRE Investors

The broadest federal housing law in years took effect on July 11 without a presidential signature. It restricts large-scale purchases of single-family homes while exempting build-to-rent development, and it ships a supply-side stack most coverage is skipping.

JUL 14, 20266 MIN READ3 SOURCES