Retail developers who gathered at the 2018 ULI Florida Summit talked about what is working and what isn’t, as they shift their focus to more entertainment and dining amenities combined with mixed use from the traditional strip centers of the recent past.
From macro-economic forces to social, environmental, technological, and political disruption, property and the wider built environment are facing change on a scale not seen for decades, said panelists speaking at the 2018 ULI U.K. National Conference in London, including increased migration, ongoing low interest rates, and increased political discord.
With property in high demand in Berlin—it had the largest year-over-year real estate price increase of any city in the world last year—it makes more sense than ever to look up for new opportunities. A number of developers have found success (or are hoping for a top return) from add-on projects atop existing structures in Germany’s capital.
At a ULI Triangle event in April, representatives of Raleigh-based North Carolina’s Capitol Broadcasting Company shared the firm’s plans to redevelop a historic cotton mill, ultimately shifting the fortunes of the town of Rocky Mount.
Hundreds of millions of dollars are pouring into plans to help incubate and retain life-science startups in New York City, panelists said at a ULI New York event in May. Locating in Manhattan offers the benefit of a variety of possible partners, including universities, hospitals, and other technology firms, as well as the presence of investors and potential employees, they said.
Hong Kong’s land supply problem is not attributable to a lack of money, but rather is an issue of finding the physical space for development, as well as a matter of perception, said the chief executive of the Hong Kong SAR, speaking at a ULI event.
Public policy experts and investors wave warning flags about the world’s most expensive housing market.
Panelists at a ULI Boston event in April said that a newfound purpose for technology is emerging in multifamily segments—fostering a sense of community within the buildings and their surrounding neighborhoods.
While investment volumes in commercial real estate in Hong Kong were up strongly last year, flagship office buildings and prime development sites are beyond the reach of all but a handful of players. For most investors, more interesting opportunities lie in other, less-visible parts of the market. Rather than waiting for (and possibly missing) the next correction, investors who are willing to roll up their sleeves may find opportunities away from the spotlight.
The District’s government, a private developer, and community activists agree on the need to preserve affordable housing. But the details sparked a multiyear battle.