In 2018, Los Angeles-based real estate firm LOWE, sold its hotel operating subsidiary to Hyatt Hotels for $480 million. That kind of exit was not part of some original projection, said Robert “Bob” S. Lowe Sr., the company’s founder and a ULI Foundation Governor, speaking at a ULI event in South Carolina
Panelists at a recent ULI Charlotte event acknowledged that the city has much to be thankful for as it heads into 2020, but they also noted the need to protect the region’s quality of life and relative affordability, which have been key to attracting economic development and outside investment.
Despite the political uncertainty across Europe and around the world, European real estate remains a desirable asset for investors globally. That is the bottom line of the new Emerging Trends in Real Estate® Europe 2020 report released by the Urban Land Institute with PwC in Brussels. The coming 2024 Olympic Games were cited as a big draw for Paris, but the Grand Paris project was also mentioned many times by panelists.
By the end of 2019, the first families will move into new, million-dollar townhouses at Edge-on-Hudson, a $1 billion development that will eventually bring more than a thousand new residences to Sleepy Hollow, New York.
Hudson Yards, Schuylkill Yards, and Port Covington are just three examples of real estate development driven by expanding and diversifying economies in the country’s Northeast and Mid-Atlantic regions. Economic sectors such as technology, education and medicine, financial services, and media are thriving and gobbling up space in major markets.
New, tech-based companies create temporary apartment hotels, monetize absorption vacancies, and stimulate urban mixed-use projects.
Austin, Texas, sits at the pinnacle of the U.S. commercial real estate sector right now, according to Emerging Trends in Real Estate® 2020. But recent economic wins like the planned $1 billion campus for Apple and the new headquarters of the U.S. Army’s modernization initiative should keep the city standing tall for years to come, said panelists speaking a ULI Austin event in October.
By 2040, metro Atlanta is projected to grow by 2.5 million people, bringing it to 8 million people, according to the Atlanta Regional Commission. Understanding how transportation and land use can accommodate this increase was one of the subjects discussed at a recent ULI Atlanta event. The event was cohosted in partnership with Perimeter Connects and the Perimeter Community Improvement Districts.
Like bookends, two major developments are transforming southern San Diego County’s city of Chula Vista on its most eastern and western fronts: the 535-acre (216 ha) Chula Vista Bayfront development on the San Diego Bay, and Otay Ranch, which will provide nearly 10,000 acres (4,000 ha) of master-planned, multiuse development, with a projected population of more than 110,000.
Using a facilitated conversation format honed at previous ULI meetings, the “fishbowl” at ULI’s Fall Meeting in Washington, D.C., brought together 12 experts to discuss the natural tension between cities’ need to encourage housing and economic development—and the community backlash that often results from specific proposals.