This past October, an article in Business Insider described the lifestyle of a 23-year-old Google employee who decided to live inside the back of a delivery truck that he had purchased and parked at the company’s headquarters rather than pay an exorbitant rent to live in San Francisco. The lack of affordable housing in high-cost markets is, of course, nothing new. But what stories like this illustrate are examples of a new take on the housing problem that persists in cities around the world. Affordable housing is being discussed as much as a generation Y issue as it is an income issue.
The lack of affordable housing in high-cost markets is, of course, nothing new. But what these stories illustrate are examples of a new take on the housing problem that persists in cities around the world. Affordable housing is being discussed as much as a generation Y issue as it is an income issue.
The U.S. property market landscape in 2016 will appear much like it did in 2015, with a number of interwoven aspects that bode well for savvy investors who can step out in front of ongoing economic, demographic, and technological trends.
The disruptive forces of technology, demographics, social change, and rapid urbanization are permeating the European real estate value chain, according to Emerging Trends in Real Estate® Europe 2016: Beyond the Capital, a forecast published by ULI and PwC.
For the first time in 30 years, local farmers have returned to the main floor of the historic Oklahoma City Farmers Public Market. Their heirloom tomatoes and organic kale now share the redeveloped 150,000-square-foot landmark with a long list of high-end shops, restaurant and event space and a “food truck park” next door. Across the country farmers markets are sharing space with more conventional retail space, often in prominent developments and redevelopments.
Harnessing the power of big data and the internet, new tech capabilities allow governments to fine-tune services—and allow residents more influence.
Completed in May 2013, GLP Misato III is a state-of-the-art logistics facility in Greater Tokyo in the Saitama Prefecture. The five-story facility, with a total floor area of 1 million square feet (93,000 sq m), is equipped with dual ramps allowing service vehicles to drive to each floor, demonstrating efficiency of land use in a country where land is severely constrained.
Be forewarned: this book’s emphatic title tells readers that, in the author’s view, local land use regulation shapes the form of American communities, for better or worse. To solve the problems of sprawl and economic segregation that plague cities and urban development, William A. Fischel, an economics professor at Dartmouth College, insists that we must radically reform zoning in the United States.
ULI has announced an area in Atlanta’s Midtown neighborhood as the study site in the 14th annual ULI Hines Student Competition. The ideas competition provides teams the opportunity to devise a design and development program for parts of a large-scale site.
Underlying real estate property fundamentals are healthy and asset valuations are high. However, interest rates are moving higher and a market misalignment has been created where many real estate investment trusts are trading below net asset value. Tax, policy, and legislative changes also are helping set the stage for REIT activity this year. Plus, interest rate survey data from Trepp.
In Port Elizabeth, a coastal city in the Eastern Cape Province of South Africa, city officials hope to catalyze development surrounding the river and port, as well as other parts of the Baakens Valley Precinct, a 300-acre (120 ha) site. The plans “will turn the city around,” says Dawn McCarthy, the municipality’s senior director for strategic planning and coordination in the office of the chief operating officer, speaking at the opening briefing for a World Bank–sponsored ULI Advisory Services panel convened in November.