Economists see a pretty good year ahead for real estate, despite a weak world economy. “The data [are] good, but we all feel this uncertainty,” said Jeffrey Havsy, chief economist, Americas, CBRE Econometric Advisors. He spoke at a panel discussion of the semiannual ULI Real Estate Consensus Forecast, as part of a members only webinar.
Katharine Hepburn and Cary Grant told one story about this great city. But, to most Americans, whether they have set foot on Philadelphia soil or came to know it only through their history lessons, few cities are as familiar.
Over the past year, we’ve spent quite a bit of time examining the intersection of technology and real estate; the topic has dominated real estate sessions at ULI meetings, inspired Institute publications and articles, and come up in informal member-to-member exchanges.
The headquarters for IAC, a media company that owns Match.com and HomeAdvisor, was a bland, brick-tile structure built in West Hollywood during the 1980s, making any type of retrofitting a challenge. A refresh of the exterior added a five-story “living facade.”
Mild caution is evident in the latest ULI survey of U.S. real estate economists. Compared with their analysis six months ago, real estate researchers are predicting slower economic growth, slipping real estate fundamentals, and lower returns from both the public and private markets. These results are based on the semiannual “ULI Real Estate Consensus Forecast,” prepared by the ULI Center for Capital Markets and Real Estate and scheduled for release Wednesday, April 6.
The performance of real estate investment trusts (REITs) outpaced the broader markets during March and ended the first quarter with a 5.86 percent total return. The U.S. economy appears to be maintaining its growth trajectory in spite of global economic uncertainty and weakness in oil markets. Plus, interest rate survey data from Trepp.
Even as the automobile took over early in the 20th century, Philadelphia’s rail system survived, and today in Greater Philadelphia, more than 325 rail stations provide access to an extensive network of Amtrak, commuter rail, subways, light rail, and trolley services.
Spanning two full city blocks, City Market at O (CMO) is a mixed-use redevelopment project in the District of Columbia’s historic Shaw neighborhood. CMO has catalyzed nearly $1 billion of new investment in Shaw and helped stabilize the area. A historic 19th-century market, repurposed into a state-of-the-art Giant Food grocery store, serves as the project’s cornerstone.
Joseph P. Riley Jr., who led the highly successful revitalization of Charleston, South Carolina, during his 40-year tenure as mayor, has agreed to serve as ULI’s first distinguished visiting fellow. As a distinguished visiting fellow, Riley will offer expertise for several of ULI’s areas of focus, including affordable and workforce housing, sustainable development, improving overall community livability, and public sector leadership in land use decision making.
A recent study concluded that unfunded liabilities total nearly $100 billion at the city level and nearly $1 trillion at the state level. As the first chapter of this book lays out, the total cost of U.S. pension shortfalls may exceed $4 trillion.