By leveraging multifaceted expertise, teams can develop robust solutions that address multiple challenges with less effort. This approach leads to design interventions that generate co-benefits, strengthening resilience by considering it in every aspect of the project.
The outlook for the European real estate market is cautiously optimistic despite growing geopolitical uncertainty and concerns about economic growth, with London, Madrid, and Paris emerging as the standout performers, according to a new report by PwC and the Institute.
On Wednesday, during the ULI Fall Meeting’s final day at Resorts World Las Vegas, a panel of commercial real estate experts gathered onstage in the Resorts World Theater to forecast the industry’s trajectory through 2026.
The ULI Terwilliger Center for Housing has announced two winners for this year’s Jack Kemp Excellence in Affordable and Workforce Housing Award, as well as two winners for the Terwilliger Center Award for Innovation in Attainable Housing.
Best Practices
How seven U.S. cities are tackling the future of downtowns
Obsolete buildings will constitute up to 50 percent of all new housing in cities
When the Inflation Reduction Act (IRA) was signed into law a little more than two years ago, it was celebrated by many who work in the real estate industry as a crucial tool for encouraging and offsetting the cost of green buildings. The tax incentives offer a lot of opportunities for owners and developers to cut expenditures, sometimes significantly, in a time when interest rates and the cost of construction remain high. Navigating the various incentives and programs has broadly proved challenging, however, and experts hope to spark more awareness around the benefits of the IRA and how to move past common obstacles.
Industry Voices
Some commercial real estate owners face rising costs due to climate risk
Aberdeen, South Dakota’s rich history as a bustling hub with a vibrant downtown provides a strong foundation for revitalization. Historic photos of Main Street from the early 1900s could easily be mistaken for scenes from Brooklyn, New York, of the same era. Understanding why the town moved away from this dynamic core, and lost its historical vibrancy, is essential.
Sponsored
The U.S. multifamily market was on fire in 2021 and 2022, a time when rent growth hit record highs due to soaring demand. But the market has since come back down to Earth as fundamentals stabilized. Now, amid ongoing high interest rates, heightened deliveries of supply, and deceleration of job growth, many multifamily investors are exploring different strategies to diversify their portfolios, add revenue, take advantage of opportunities, and maintain a competitive edge.
As Baby Boomers continue to retire, having a concrete plan ensures businesses will continue to thrive
Amblebrook, an innovative retirement community in the historic setting of Gettysburg, Pennsylvania, was specifically designed to remedy this social disease. It shatters the mold of the conventional 55-plus community.
Spanning 80 acres (32.4 ha) and 1 million square feet (93,000 sq m) of industrial space, The Works is located off Chattahoochee Avenue, a once-quiet industrial corridor on the west side of Atlanta. This pocket of the city—now known as the Upper Westside with a new CID to prove it—has seen explosive growth since plans for The Works were announced in 2017.
Capital Markets and Finance
When the Inflation Reduction Act (IRA) was signed into law a little more than two years ago, it was celebrated by many who work in the real estate industry as a crucial tool for encouraging and offsetting the cost of green buildings. The tax incentives offer a lot of opportunities for owners and developers to cut expenditures, sometimes significantly, in a time when interest rates and the cost of construction remain high. Navigating the various incentives and programs has broadly proved challenging, however, and experts hope to spark more awareness around the benefits of the IRA and how to move past common obstacles.
Industry CPPI data suggests that property prices may be at—or near—bottom. The three major indexes from MSCI Real Assets, CoStar, and Green Street all showed an increase in CPPI in August. After rising 1.6 percent in August, Green Street’s recently released Commercial Property Price Index remained unchanged in September. Green Street’s all-property index—a measure of pricing for institutional-quality properties—is up 3.3 percent year-to-date through September.
Over the last 18 months, commercial real estate loans have been maturing at a torrid rate, in a rapidly evolving marketplace. Although economic growth remains resilient, commercial real estate oversupply, growth in operating expenses, higher leverage, and the cost of debt are creating headwinds for commercial real estate asset values. Moreover, roughly $2 trillion in commercial real estate loans will mature by the end of 2026.
A one-two punch is hitting condo owners and associations in Florida, forcing some to sell to cash buyers at massive discounts or risk foreclosure. The setback could have national implications.
In early April 2024, Small Change, an investment crowdfunding platform for real estate development with social impact, and Boston Real Estate Inclusion Fund (BREIF) jointly announced an investment opportunity in a $430 million life sciences building under development by Related Beal. The property—at 22 Drydock Avenue, in Boston’s Seaport District—is slated to be the city’s first life sciences building to achieve LEED Platinum and net-zero carbon emissions.
In May, Barry Sternlicht capped investors’ ability to exit his $10 billion real estate fund—a strategic move to avoid a fire sale of properties at a less-than-ideal time. Sternlicht lowered the limit on monthly withdrawals from Starwood Real Estate Income Trust (SREIT). That limit, previously 2 percent, went to 0.33 percent of net asset value (NAV), the value of SREIT’s assets minus its debt.
Philanthropy
Texas Southern University professor and environmental justice advocate to receive ULI Prize for Visionaries in Urban Development.
ULI has announced the appointment of Mick Cornett, the former mayor of Oklahoma City, as the ULI Canizaro/Klingbeil Fellow for Urban Development. Cornett served as mayor of Oklahoma City from 2005 to 2018, leading a major redevelopment plan for the urban core, securing an NBA franchise to the city, creating an entertainment district that now attracts 2 million visitors a year, and generating 80,000 new jobs.
Institute trustee and Foundation governor was a force in Denver real estate