Indianapolis has been leveraging active-transportation investments—primarily walking and biking—for both placemaking purposes and enhancing real estate values. Providing some inspirational examples for small-scale developers working in urban areas, the city’s story includes a collaborative spirit among the private, public, and philanthropic sectors; development enhanced by miles of trails; and soon, the construction of a bus rapid transit system. Drawing on those themes, ULI’s 13th Small-Scale Development Forum in September, “Small Meets Active Transportation,” included panel discussions and project tours in Indianapolis and its northern suburb of Carmel.
In places like Detroit, Green Bay, and Wilmington, Delaware, architects and urban planners are working with city officials and community leaders to find creative and successful ways to design and build a new generation of compact multiuse arenas that are seamlessly woven into the fabric of redeveloping and reinvigorated urban cores. In the process, design and development professionals are finding creative and inspired new answers to longstanding questions about arena viability in urban spaces.
The redevelopment spurred by Amazon’s decision to open headquarters sites in Northern Virginia and Long Island City, New York, will reflect an ongoing evolution of urban areas that we at ULI believe will continue for decades to come.
The overall availability rate for U.S. office space was unchanged as of the end of the third quarter of 2018, remaining at 18.1 percent, according to the latest Savills Studley Report: National Office Sector from commercial services firm Savills Studley. San Francisco remains the tightest market in the country, with an availability rate of 9 percent, followed by Boston/Suffolk County, 9.7 percent; New York City, 11.6 percent; and Austin, 12.8 percent.
While the Atlanta region has grown dramatically in the last decade, the issue of traffic and mobility issue hung over much of the discussion at a recent ULI Atlanta event, which also touched on the findings from Emerging Trends in Real Estate® 2019.
A ULI Advisory Services panel toured South Sacramento, California, in September, meeting with more than 75 city and county officials, local business leaders, residents, and other stakeholders. The four sponsors—Sacramento Regional Transit, Sacramento Council of Governments, Sacramento Municipal Utility District, and Sacramento Metropolitan Air Quality Management District—asked the ULI advisory panel to outline a plan for kick-starting a retrofit of the two transit-adjacent neighborhoods into transit-oriented neighborhoods. Their goals were to promote equitable, healthy, and inclusive community development that fosters job and income growth, housing options, and healthy neighborhood amenities with more convenient access to transit, retail, and services.
The hunt for secure long-term income is driving European real estate investment as the industry hedges against potential interest rate increases and an uncertain geopolitical backdrop, according to Emerging Trends in Real Estate® Europe 2019. The annual report, published jointly by ULI and PwC, is based on the opinions of over 800 real estate professionals in Europe, including investors, developers, lenders, and advisers.
ULI has named J. Phillip Horne, former chief development officer of George Washington University’s Columbian College of Arts and Sciences, as the chief advancement officer for the Urban Land Institute Foundation. The ULI Foundation, now in its 48th year, provides philanthropic support for ULI’s mission-focused programs, such as activities from its Terwilliger Center for Housing, Center for Sustainability and Economic Performance, Center for Capital Markets and Real Estate, ULI’s Advisory Services program, and UrbanPlan.
Millennials living in the nation’s capital and its close-in suburbs can be characterized as “committed urbanists,” according to a just-released ULI Washington survey. This new study, which updated a 2015 survey, included more households with children—an increase from 12 to 20 percent. Almost half (49 percent) of respondents are married or partnered—up from 39 percent in 2015. Homeownership has increased from 28 to 33 percent. And median income has increased over 11 percent, exceeding the national growth rate.
A first-time gathering of ULI product council members—drawing attendees from councils focused on multifamily housing and affordable and workforce housing—convened at the 2018 ULI Fall Meeting in Boston to marshal ideas from some of the industry’s leading minds. For near-term action, participants sounded a call for creating a national playbook for local and state-level implementation, a compendium of strategies employed successfully in jurisdictions across the United States that could be adopted elsewhere.