Cranes fill the sky and construction crews complicate navigation through Seattle’s streets as development projects downtown and in other close-in urban neighborhoods usher in a higher and denser city. Local ULI leaders point to several major development projects that best demonstrate where Seattle is going as a city.
In a survey released in January by the Association of Foreign Investors in Real Estate, Boston ranked third in desirability by foreign investors among U.S. cities (behind New York and Los Angeles). ULI Boston/New England recently hosted a program in which panelists discussed the thought processes of the leadership of the companies and investors who are wagering heavily on the continued success of the region.
The departure of AR Global Investments from the nontraded real estate investment trust world, coupled with uncertainty surrounding substantial pending regulations, has put a sizable damper on the ability of the nontraded REIT sector to raise capital. According to Summit Investment Research, $4.8 billion of equity was raised by sponsors of 35 entities last year, the lowest volume in 14 years. Plus, interest rate survey data from Trepp.
While the growth of e-commerce and the shifting needs for open and smaller office spaces are having a marginal impact, most of these disruptive forces are still years away from having a substantive negative impact on the retail, office, and other industry sectors, said panelists discussing the latest ULI Real Estate Consensus Forecast during a webinar.
Though public/private partnerships are not new, they are being used more widely in a variety of new contexts and are evolving to take more extensive and complicated forms of shared risk and responsibility. These changes will accelerate if the U.S. federal government moves forward with broad public investment to modernize infrastructure through the use of tax credits to engage the private sector.
Hines is widely known for building glass and steel skyscrapers. So, it would seem that the developer is going a bit against the grain in its latest endeavor with a boutique office property in Minneapolis made largely of wood.
In 2015, ULI’s Advisory Services program convened a ULI resilience panel to study issues facing the area surrounding the Lower Duwamish Waterway, which is badly polluted with toxins and industrial waste and was identified in 2001 as a Superfund site by the U.S. Environmental Protection Agency. Two years later, the cleanup of the river continues and there is renewed interest in addressing the community issues.
The Dodge Momentum Index increased by 0.9 percent in March to 144.4 from its revised February reading of 143.2. The index, produced by Dodge Data & Analytics, has risen for six consecutive months, with much of the gain being driven by institutional projects entering planning while commercial projects so far in 2017 have receded slightly. Plus, interest rate survey results from Trepp.
The latest survey of U.S. real estate economists showed a marked increase in expected economic measures, most likely due to federal proposals to reform the tax code, reduce regulatory burdens, and invest in infrastructure. Compared with the same survey from six months ago, real estate economists have higher expectations about gross domestic product (GDP) growth, employment growth, and housing starts.
Large, luxury apartment and condo developments have been dominating headlines and casting a big shadow over the “little guys” in rental housing. A new report released by Enterprise Community Partners and the University of Southern California’s Bedrosian Center on Governance aims to call attention to this overlooked segment of the market.