Real estate fundamentals and real estate investment trust performance benefited from positive economic news during May. Retail sales experienced their biggest increase in a year with a 1.3 percent jump during April, according to the U.S. Department of Commerce, and the pace of both new-home sales and home resales accelerated during April. The positive news was tempered by a worse-than-expected April jobs report as the brisk hiring of the first quarter slowed.
Minneapolis was rated the big American city with the best park system for the third straight year, according to the Trust for Public Land’s fifth annual ParkScore® index. Minneapolis edged out St. Paul for the top spot among the 100 largest U.S. cities. The Twin Cities tied for first last year.
The noted California architect and planner discusses China’s new “urban design revolution.” In an interview, Calthorpe spoke to ULI about how the new standards address this explosive growth and the involvement of his Berkeley, California–based design firm, Calthorpe Associates, in promoting sustainable development in China.
While experts, speaking at the at the recent ULI Housing Opportunity 2016 conference in Boston, agree that a mixed-income environment is still the best platform to lift people out of poverty, they also said that new approaches and partnerships are needed to deliver on mixed income’s promise of economic mobility and racial and social integration.
When the Shanghai government established Zhangjiang Hi-Tech Park, the vision was to develop China’s own “Silicon Valley,” but it has long been missing an essential element: advanced academic institutions. ShanghaiTech’s campus is intended to fill that void.
Small apartment buildings are often overlooked or underserved by housing policy and traditional housing and commercial real estate finance mechanisms. Because this housing type is so prevalent in New England and important in the state’s housing stock, the Connecticut Housing Finance Authority has created a three-pronged program to address rental needs at a scale that works for the state’s smaller communities.
A new generation of “social-impact investors” are eager to place their equity in housing as a platform to address a variety of issues they care about, including economic mobility and disparities in health outcomes and educational attainment. Panelists at the recent ULI Housing Opportunity 2016 conference in Boston discussed platforms aimed at expanding the pool of equity investors with the potential to shore up the supply of affordable and workforce housing.
Joel Kotkin, a fellow in urban studies at Chapman University in Orange, California, whose previous works include The Next Hundred Million: America in 2050 and The New Class Conflict, in his latest book challenges the claimed advantages of high-density, “pack and stack” urban development.
“Creative placemaking” can mean different things to different stakeholders, but ULI’s recent Housing Opportunity 2016 conference offered participants some very different strategies as to how to incorporate the concept into their own projects.
With the trend toward urbanization increasingly pricing families out of housing in cities, one solution to the problem would be to simply construct more affordable multifamily housing stock in the suburbs.