With an unemployment rate of 2.6 percent, a diverse economy anchored by health and education institutions, and a flourishing tech and life sciences sector, Greater Boston appears poised for continued growth, even with the specter of a potential recession on the horizon. But, like many other growing U.S. cities, the demand for housing far outstrips the supply. Much of the expanding workforce is in danger of being priced out of the market, as are many longtime residents.
Owen D. Thomas, chief executive officer of Boston Properties, one of the nation’s largest real estate companies, is ULI’s current global chairman. A ULI governing trustee, a ULI Foundation governor, and a ULI member for more than 30 years, Thomas recently spoke with Urban Land about his career and his priorities for the Institute.
Ten outstanding female real estate professionals were recognized at the recent ULI Fall Meeting in Washington, D.C., as the 2019 recipients of the Women’s Leadership Initiative (WLI) Prologis Achievement Award. Recipients of the prestigious award were hosted at the meeting by senior WLI members, who are serving as mentors to the awardees to help them advance in the industry and strengthen their engagement with the Institute. The WLI Prologis Achievement Award is part of the Institute’s focus on increasing diversity and inclusivity throughout the Institute and the industry.
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.
Farm-centric master-planned communities are a hit with buyers, but it takes skill and planning to keep the agriculture in bloom.
The persistent theme over the current economic cycle of “lower for longer” growth has contributed to a record expansion cycle that has surpassed 10 years. Results from ULI’s latest “Real Estate Economic Forecast” show that trend is likely to continue into 2021, said panelists speaking on a webinar discussing the survey results.
Although real estate economists have tempered their view on economic growth over the past six months, according to the latest ULI survey data, they continue to forecast positive GDP growth, slower but solid job growth, and steady real estate markets and returns through 2021. This is despite the U.S. yield curve inverting (often a harbinger of a recession), an escalation of the U.S.-China trade dispute, and slowing economic growth in Europe, particularly in the United Kingdom and Germany.
What are the possibilities for bringing urban-style living to the suburbs? ULI members discuss the challenges of integrating a mix of uses, how suburban jurisdictions can foster more development, and other trends.
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.