While its sustainable qualities are attracting developers and architects, so are the speed and cost-efficiency with which mass-timber buildings can be delivered to market, noted an expert panel at the recent ULI Washington Real Estate Trends conference, sometimes shaving 30 to 90 days off a construction schedule.
The growing involvement of the real estate industry in helping municipalities manage stormwater runoff with systems using natural resources is explored in a new ULI publication, Harvesting the Value of Water.
Hong Kong remained the world’s highest-priced office market last year, according to CBRE Group’s latest survey. Four of the top five fastest-growing markets for prime office rent were in Europe, with Stockholm, Berlin, and Dublin joining Belfast on the list.
According to JLL’s 2017 Banking Outlook, increased use of mobile banking could decrease the need for traditional bank branches by 20 percent in the next five years, although some underserved markets are still seeing new construction.
Real estate investment trusts that specialize in the multifamily sector, particularly those with an exposure to the high-end sector in New York City, continue to struggle in the face of new construction. Plus, interest rate survey data from Trepp.
Most migrants to Europe are clustering in cities, a new study finds, compounding the challenge of rising rents with encouraging integration of new residents and preserving a healthy socioeconomic environment. The new ULI report, Mass Migration and Real Estate in European Cities, was released at ULI Germany’s Urban Leader Summit.
The latest issue of the magazine is now available for download through the Urban Land app. The cover package for this issue is titled “Smart Cities: Prototypes for the way we will live.” Other topics include “Spring Meeting City: Focus on Seattle,” “Investment: Public Private Partnerships” and “Economy: Canada and Pacific Northwest.”
In the Pacific Northwest, real estate development continues to be powered by a strong and expanding technology sector, where companies like Facebook are taking upward of 1 million square feet (93,000 sq m) of space in Seattle’s South Lake Union neighborhood, doubling its footprint in the city, while Google has leased several hundred thousand square feet of space nearby.
Since 2000, Washington, D.C., has added more than 100,000 residents as a robust job market has attracted people both domestically and from abroad. The city’s population is expected to reach 1 million by 2045. The influx of new residents—most of whom are high-wage earners—has placed enormous pressure on the city’s housing market and has created new urgency around the production of so-called missing middle housing types.
Amid speculation about the ways autonomous vehicles may upend current ways of living—and require fundamental changes to the way real estate and critical transportation-related infrastructure are
developed—voters in Washington state’s Puget Sound region approved tax increases in November to fund a $53.8 billion, 25-year program for expanding light rail, commuter rail, and bus rapid transit.