Latest news with #Strada
San Francisco Chronicle
11-07-2025
- Business
- San Francisco Chronicle
This new S.F. apartment building is leasing fast — is the city's development freeze finally over?
In May when Strada Investment Group opened its new 501-apartment building at 555 Bryant St. in SoMa, they set an optimistic goal of leasing 25% of the units in the first three months. It was an ambitious target but one they thought feasible, in part because the crisp 16-story black-white complex, dubbed Quincy, is the only large market rate rental building of its kind opening in San Francisco in 2025. It's also highly visible for drivers whizzing to and from the Bay Bridge and its location is a few blocks to the Caltrain station, South Park, and the Giants' ballpark. 'We knew there was some pent-up demand — we knew people were eager to move in — but that was a pretty aggressive number,' said project manager Will Goodman, a partner with Strada. But it turned out they were off by a long shot, in a good way: In two months Quincy has leased 50% of the units. The building is filling up faster than any apartment complex since 2013, when the last tech boom was gaining momentum following the Great Recession, according to Strada Partner Michael Cohen. 'Leasing has been phenomenal,' Cohen said. 'We haven't seen anything like it for a long time.' The Quincy opening comes as tens of thousands of approved housing units are stalled out across the city, victims of a slow pandemic recovery, high interest rates, lofty construction costs and uncertainty around tariffs and the economy. Just 1,200 new homes were completed in 2024 — half affordable, with most of them built on Treasure Island. Anne Taupier, director of the city's Office of Economic and Workforce Development, called the Quincy's leasing velocity 'unprecedented.' 'I've never seen anything lease up like that,' she said. 'Our hope is that developers and investors are going to see that and start thinking, 'We want to make sure we are not left out of this.'' Cohen said the project represents 'a really good proof of concept,' but that there are still enough uncertainties to give builders pause. The question of whether the rents are enough to cover construction costs — which are unpredictable in part because of President Trump's ever-changing tariffs — and generate a high enough return to satisfy lenders is still a moving target. Rents in the market rate units start at $3,200 for a studio, $4,300 for a one-bedroom, and $5,200 for a two bedroom apartment. Strada is offering 'up to' two months free rent at signing. Of the 501 units, 71 are below market rate. 'Any doubt about whether there is demand here, whether we have a healthy enough economy to support renters coming into a new building, we answered that unequivocally,' Cohen said. 'The success of this building hopefully will give folks a courage pill.' Even if the success at Quincy emboldens other developers and lenders to take the plunge and break ground, the next wave of larger new buildings wouldn't open until late 2027 or early 2028. Strada's pipeline includes two other projects within a block or two of Quincy: a 525-unit project at 395 Third St., and a 1,500-unit, two-tower development at 88 Bluxome. 'It's still a challenging development market, that is why we don't think we are going to see any new buildings to compete with this one for at least a couple of years,' Cohen said. 'If you were going to be delivering by '28, you'd have to be in the ground right now, or pretty damn close.' While the building has all the hotel-like amenities of contemporary luxury rental communities — the rooftop gardens and fitness facilities, the co-working spaces and conference rooms, a library and a game room — Strada attributes the building's success to the return-to-office mandates that accelerated in January. The building has attracted the normal San Francisco mix of tech workers, with a heavy representation from the AI industry, but also doctors and nurses and researchers from the UCSF Mission Bay campus. There are already 20 children in the building — an unusually high number for San Francisco. Corey Smith, executive director of the Housing Action Coalition, said he noticed a shift in sentiment over the last few months. For the first time since the pandemic builders are talking seriously about reviving stalled jobs. 'I have had a handful of conversations with market rate builders who are feeling the uptick in optimism,' he said. 'The housing industry is sitting up and saying, 'There are opportunities.' We are not at a point where all projects pencil, but we are in a better place than we were.'
The Citizen
10-07-2025
- Automotive
- The Citizen
Stellantis' local assembly plans now involve three products
Of the two additional models, one will be a new energy product, while the identity of the third or its market placing wasn't confirmed. Peugeot Landtrek will be joined by two additional products produced locally at the currently under construction plant in the Eastern Cape. Image: Peugeot Stellantis has revised its plans for South Africa by announcing that its under-construction factory in the Coega Industrial Zone in Nelson Mandela Bay will no longer solely build the Peugeot Landtrek bakkie. Making the most Part of a R3-billion investment for the production of 50 000 units annually, the deal, inked with the Department of Trade and Industry two years ago, had only been expected to involve complete knockdown (CKD) kit versions of the Landtrek for the local and export market by 2026. ALSO READ: Subtly updated Peugeot Landtrek debuts with new diesel heart Despite rumours at the time suggesting that Fiat might be another option when the third-generation Strada reverts to being a global model that same year, Stellantis South Africa CEO Mike Whitfield affirmed that the facility would instead be geared for two additional models alongside the Landtrek. Addressing the media at Stellantis' annual Media Connect event at Montecasino in Johannesburg on Wednesday (9 July), Whitfield said changes in the automotive landscape had made sole production of the Landtrek no longer viable if it wanted to fully utilise a factory claimed to produce as many as 90 000 units per year. A total of three Asked about the planned products, Whitfield stated that one would fall under the new energy vehicle category, before declining to comment on the third model. Shown at the event, the C10 by Chinese start-up Leapmotor, which entered into a formal partnership with Stellantis last year, has hinted at a possible third model, although this is purely speculative and unconfirmed for the moment. Whitfield, however, stated that the Landtrek, currently imported from China, will remain the core model once the factory commences assembly, now that the groundwork for the foundation has finished. More later Part of the conglomerate's Dare Forward 2030 campaign, initial reports that the facility would become operational at the end of the year have now seemingly been pushed back, as assembly was expected to start next year. While no details are available at the moment, expectations are that a clearer picture could emerge either before year-end or in early 2026. NOW READ: Stellantis approves R3bn local bakkie production deal from 2026
National Post
09-07-2025
- Business
- National Post
New Strada Report Finds Nearly 40% of Businesses Are Still Dependent on Ageing HR Systems as Cloud Migration Becomes Critical
Article content Article content MIAMI — In a climate where speed, agility, and resilience are essential, too many organisations are still relying on outdated on-premise HR and ERP systems – and the cost of inaction is mounting. New global research from Strada reveals that nearly two in five companies continue to operate on on-premise platforms such as Microsoft Dynamics (20%) and SAP (19%), despite looming end-of-life support deadlines that significantly raise the risk of disruption. Article content With SAP's mainstream support for ERP Central Component (ECC) ending in December 2025, and Microsoft Dynamics GP following by 2029, Strada's new report The cost of standing still: Why ignoring cloud ERP could harm your business exposes the growing gap between business ambitions and operational realities. Despite clear goals to modernise, adopt AI capabilities, tighten cybersecurity, and enhance the employee experience, many organisations remain stuck. For most, the shift away from legacy infrastructure feels too complex or costly to act on now. Article content ,' said Article content Organisations delaying migration are not only facing rising costs, but also reduced support as on-premise systems are phased out. This leaves them exposed and unable to capitalise on the opportunities ahead – from AI and data-driven insights to improved employee experiences.' Article content While 36% of global businesses have prioritised efficiency and productivity, and 35% are focused on realising technology value, many are still struggling to act. Budget constraints (42%), integration complexity (42%), and resistance to change (33%) remain significant barriers – particularly in large organisations where fragmented legacy environments and decision-making siloes slow progress. Article content At the same time, a clear disconnect exists between strategic leadership and frontline users. While 92% of C-suite leaders rate their current HR systems as effective, only 63% of frontline employees agree – and just 14% feel their systems support career progression. This gap highlights a critical issue: those making technology decisions are often out of step with the needs of the people expected to use the systems daily. Article content While many organisations are still suspending change, those that have embraced cloud migration are already reaping the benefits. Just 20% of respondents reported smooth payroll operations before migrating to the cloud. After deployment, that figure jumped to 55%, underlining the value of decisive action and the real operational improvements possible. Article content The case for cloud-based HCM and ERP systems continues to grow. Organisations are increasingly driven by the need for integrated AI, real-time data visibility, scalable infrastructure, stronger security, and compliance with evolving regulations such as the Corporate Sustainability Reporting Directive (CSRD). Article content 'Businesses don't have the luxury of time anymore,' Article content said Article content Johan Bosschaerts, Head of Product and Technology at Strada Article content . 'Delaying migration means relying on systems that weren't built for today's demands. Modern cloud platforms provide a foundation for increased resilience and innovation, enabling organisations to capitalise on AI capabilities while ensuring stronger cybersecurity and easier compliance. By doing so, IT teams are empowered to transition from reactive, technical problem solving to proactive management, driving business imperatives and real progress.' Article content As organisations face end-of-life deadlines for legacy systems and mounting pressure to modernise, the imperative is clear: cloud migration is the gateway to innovation. Cloud platforms deliver real-time insights, integrated AI capabilities, robust security protocols, and compliance with evolving regulations. Acting now not only mitigates operational risks but also positions organisations to capitalise on future opportunities. To access the full report, visit Article content About Strada Article content Strada is a people, payroll, and technology leader that simplifies international workforce management. Across 180 countries, Strada designs and delivers people first solutions powered by cloud-based technology that help organizations grow and enable workforces to perform at their best. To learn more, visit Article content Notes to editors: Article content The findings referenced are based on independent research commissioned by Strada and conducted by CensusWide. The survey was carried out between 19 – 28 February 2025, polling 1,212 professionals working in Finance, HR, or IT departments at companies with 1,000 or more employees. Respondents were based in the United States, United Kingdom, France and Germany and included a mix of C-suite leaders as well as a mix of respondents from various seniority levels. Article content Article content Article content Article content Article content Contacts Article content Media contact Article content Article content Article content
Business Wire
09-07-2025
- Business
- Business Wire
New Strada Report Finds Nearly 40% of Businesses Are Still Dependent on Ageing HR Systems as Cloud Migration Becomes Critical
MIAMI--(BUSINESS WIRE)--In a climate where speed, agility, and resilience are essential, too many organisations are still relying on outdated on-premise HR and ERP systems – and the cost of inaction is mounting. New global research from Strada reveals that nearly two in five companies continue to operate on on-premise platforms such as Microsoft Dynamics (20%) and SAP (19%), despite looming end-of-life support deadlines that significantly raise the risk of disruption. Transformation is no longer a future priority – it's a present necessity. Organisations delaying migration are not only facing rising costs, but also reduced support as on-premise systems are phased out. With SAP's mainstream support for ERP Central Component (ECC) ending in December 2025, and Microsoft Dynamics GP following by 2029, Strada's new report The cost of standing still: Why ignoring cloud ERP could harm your business exposes the growing gap between business ambitions and operational realities. Despite clear goals to modernise, adopt AI capabilities, tighten cybersecurity, and enhance the employee experience, many organisations remain stuck. For most, the shift away from legacy infrastructure feels too complex or costly to act on now. "Transformation is no longer a future priority – it's a present necessity," said Gautam Sukumar, Chief Operating Officer at Strada. " Organisations delaying migration are not only facing rising costs, but also reduced support as on-premise systems are phased out. This leaves them exposed and unable to capitalise on the opportunities ahead – from AI and data-driven insights to improved employee experiences.' While 36% of global businesses have prioritised efficiency and productivity, and 35% are focused on realising technology value, many are still struggling to act. Budget constraints (42%), integration complexity (42%), and resistance to change (33%) remain significant barriers – particularly in large organisations where fragmented legacy environments and decision-making siloes slow progress. At the same time, a clear disconnect exists between strategic leadership and frontline users. While 92% of C-suite leaders rate their current HR systems as effective, only 63% of frontline employees agree – and just 14% feel their systems support career progression. This gap highlights a critical issue: those making technology decisions are often out of step with the needs of the people expected to use the systems daily. While many organisations are still suspending change, those that have embraced cloud migration are already reaping the benefits. Just 20% of respondents reported smooth payroll operations before migrating to the cloud. After deployment, that figure jumped to 55%, underlining the value of decisive action and the real operational improvements possible. The case for cloud-based HCM and ERP systems continues to grow. Organisations are increasingly driven by the need for integrated AI, real-time data visibility, scalable infrastructure, stronger security, and compliance with evolving regulations such as the Corporate Sustainability Reporting Directive (CSRD). 'Businesses don't have the luxury of time anymore,' said Johan Bosschaerts, Head of Product and Technology at Strada. 'Delaying migration means relying on systems that weren't built for today's demands. Modern cloud platforms provide a foundation for increased resilience and innovation, enabling organisations to capitalise on AI capabilities while ensuring stronger cybersecurity and easier compliance. By doing so, IT teams are empowered to transition from reactive, technical problem solving to proactive management, driving business imperatives and real progress.' As organisations face end-of-life deadlines for legacy systems and mounting pressure to modernise, the imperative is clear: cloud migration is the gateway to innovation. Cloud platforms deliver real-time insights, integrated AI capabilities, robust security protocols, and compliance with evolving regulations. Acting now not only mitigates operational risks but also positions organisations to capitalise on future opportunities. To access the full report, visit About Strada Strada is a people, payroll, and technology leader that simplifies international workforce management. Across 180 countries, Strada designs and delivers people first solutions powered by cloud-based technology that help organizations grow and enable workforces to perform at their best. To learn more, visit Notes to editors: The findings referenced are based on independent research commissioned by Strada and conducted by CensusWide. The survey was carried out between 19 - 28 February 2025, polling 1,212 professionals working in Finance, HR, or IT departments at companies with 1,000 or more employees. Respondents were based in the United States, United Kingdom, France and Germany and included a mix of C-suite leaders as well as a mix of respondents from various seniority levels.
National Post
17-06-2025
- Business
- National Post
Strada Unveils Automated ACFR App to Transform Public Sector Financial Reporting
Article content Article content New app streamlines compliance, boosts efficiency and frees finance teams from the manual burden of year-end reporting Article content Article content MIAMI — Strada, the leading provider of end-to-end payroll, human capital, and financial management solutions, proudly announces its new Workday Marketplace app, Automated Annual Comprehensive Financial Report (ACFR). Scheduled for release on the Workday Marketplace in late summer 2025 and purpose-built for U.S. state and local governments, the app can replace time-consuming reporting with intelligent automation to enhance the speed, accuracy, and consistency of ACFR preparation. Article content Preparing an ACFR is a legal requirement for most U.S. government entities and a cornerstone of transparency and compliance with Governmental Accounting Standards Board (GASB) regulations. Yet for many public sector entities, the process remains highly manual, error-prone, and reliant on outdated systems. Article content Strada's Automated ACFR will address these challenges directly by connecting to Workday Adaptive Planning, which will help customers automate data extraction, formatting, and version control. The app will allow customers to compile all required ACFR content, from financial statements and narrative disclosures to trend data and statistical tables, dramatically reducing manual effort while improving accuracy, consistency, and auditability. Article content Finance teams using the Automated ACFR app will expect to see, on average: Article content 80% reduction in the time required to produce an ACFR 50% reduction in manual effort needed to compile the report Estimated annual savings of $110,000 to $160,000 Article content ' With increasing scrutiny on public sector finances, timely and accurate reporting is more important than ever,' said Steven Porter, Head of Public Sector Sales at Strada. ' This new app will empower finance leaders to deliver ACFRs with less manual work, fewer errors, and more confidence in compliance.' Article content Automated ACFR will be generally available by the end of 2025. The initial release will deliver robust automation and template-driven reporting capabilities, aligned within established Government Finance Officers Association (GFOA) Excellence in Financial Reporting Program standards and designed to bring immediate, high-impact value to public sector finance teams. Looking ahead, Strada is also developing embedded AI agents to further enhance the solution. Set to debut in early 2026, the agents will assist with drafting, editing, and refining complex narrative sections, helping ensure consistency, clarity and compliance year over year. By referencing both prior-year reports and current-year data, the AI agents will: Article content Update management discussion and analysis (MD&A) sections Align commentary with updated charts, figures, and tables Maintain a consistent tone and structure year over year Suggest clearer, more concise phrasing while preserving format Article content ' Our vision is to support public sector teams not just with automation, but with intelligent assistance that makes complex reporting faster, clearer, and more consistent,' Porter added. ' We want to help these skilled financial professionals focus on insight, not admin and free them from time consuming, repetitive tasks so they can deliver greater value for their communities.' Strada will showcase the new Automated ACFR app at the upcoming GFOA Annual Conference (June 29 – July 2) in Washington, D.C. at the Walter E. Washington Convention Center, Hall E, Booth #641. Attendees can book a one-on-one demo to explore how the solution simplifies ACFR preparation, reduces compliance risk, and prepares for future AI-driven innovation. Article content Article content Article content
