A number of cities in the U.S. Northeast are supplanting outdated office product with new thanks to strong, diversified economies; vigorous job creation; and increasing formation of businesses. Further driving development in the Northeast—New York, Massachusetts, Pennsylvania, and New Jersey—is continuing demand from the education and medicine (“eds and meds”) and technology sectors, among others.
While new office space paradigms are emerging in response to changes in technology and work styles, there is no consensus about the “best” future for workspace. A panel of real estate investors, occupiers, and corporate real estate experts discussed the future of workspace at the ULI Japan Fall Conference, held in Tokyo in November.
As part of the release of Emerging Trends in Real Estate® 2019, ULI Philadelphia gathered a panel of industry leaders to talk about what is working and what is not for their sectors both in Philadelphia and other parts of the eastern United States.
According to data from Yardi Matrix, the average size of a new U.S. apartment has shrunk 5 percent over the last 10 years, while the average price has risen 28 percent. The average floor plan of a new apartment measures 941 square feet (87.4 sq m), but that is still larger than the overall average of 882 square feet (82 sq m).
The workplace of the future needs to provide flexibility and wellness in order to drive innovation, said a design expert giving a keynote at the 2018 ULI Japan Fall Conference in Tokyo.
Perhaps it is no coincidence that both Craig Robins, president and chief executive officer of real estate development company Dacra, and Kieran Bowers, president of Swire Properties, were schooled in the humanities before becoming real estate developers. Both spoke at the ULI Miami Investor Symposium about their careers and the influence of creative placemaking on their projects.
Housing affordability has become one of the most talked-about land use issues in virtually every major urban center in North America. Less focus has been directed to the lack of affordable housing options in small towns and rural areas, despite a significant need that spans the demographic spectrum.
The ever-increasing traffic congestion in South Florida, a region that includes Miami-Dade, Broward, and Palm Beach counties, has not gone unnoticed by either local officials or private companies, both of which have been working on solutions to traffic woes for years. At ULI South Florida/Caribbean’s ULI Miami Investor Symposium in late October, two speakers—one from government and another from the private sector—laid out their plans to alleviate some of the congestion.
The real estate industry traditionally has valued gut instinct and experience. But the ability to collect, analyze, and visualize vast amounts of information could be the new competitive advantage.
A new attitude toward growth—and a focus on waterfronts—woke up a sleepy Florida city.