Technology and innovation were hot topics at the 2019 ULI Fall Meeting in Washington, D.C. These are some of the insights that speakers and attendees shared.
Whereas the commercial sector increasingly is abandoning its old analog ways and shifting to property technology, or proptech, the buzzword for building-related applications, the real revolution will come when commercial real estate companies not only have amassed large amounts of data, but also have figured out how to combine information from different apps and turn that data into actionable intelligence, said panelists speaking at the 2019 ULI Fall Meeting.
Affordable housing challenges are not limited to urban centers or technology hubs. Smaller towns often struggle to house their workforces and—perhaps less noticeably, but no less acutely—so do agricultural operations. Agriculture employs 11 percent of the U.S. workforce, while also contributing to manufacturing, wholesaling, and retailing. The sector is also suffering from a dire labor shortage that has the potential to disrupt the entire food chain.
Ian Wilson, senior vice president of nongaming operations and chief operating officer, Marina Bay Sands, addressed the 2019 ULI Asia Pacific Leadership Convivium, explaining how the resort-casino operator uses data in its operations.
Positive news for Greater Philadelphia going into 2020 includes job growth, a growing population of young people, strong demand for apartments, and a booming, new biotechnology business, said panelists at a ULI Philadelphia event.
Commercial structures could be a formidable barrier to 5G wireless.
A nervous system capable of collecting data and a brain that is able to make use of it are vital to a system that meets the needs of stakeholders—and society.
The Dodge Momentum Index, a monthly measure of the initial report for U.S. nonresidential building projects in planning, rose 6.9 percent month over month in October. The increase was due to a recovery in institutional planning projects, which had stepped back over the previous few months. Institutional planning moved 22.8 percent higher in the month while commercial planning lost 0.5 percent.
The tech industry has claimed an increasingly larger share of major U.S. office-leasing activity as real estate and economic indicators point to continued momentum for the sector over the next two years, according to CBRE’s annual Tech-30 report. CBRE’s analysis found that tech companies accounted for 21 percent of major office-leasing activity in the first half of this year, up from 11 percent when CBRE began tracking the figures in 2011.
Hotels and office buildings are taking on many of each other’s characteristics in terms of design and use. This confluence has several drivers, among them the evolution of technology, shifts in guest and tenant expectations, and the increasing mobility of the American workforce.