Interest rates have been on a roller-coaster ride over the last year, but cap rates are largely unchanged. The result of these moves is that cap rate spreads relative to the safe investments in the 10-year U.S. Treasury bonds have moved back to the levels seen in 2017. Given everything that has changed over the last year—as well as everything that has not—there may be room for cap rate spreads to move lower.
A new generation of innovators in commercial real estate is taking inspiration from—and even going beyond—the hospitality industry’s focus on customer service and satisfaction to invent new ways to make residential and office tenants happier.
A ULI Advisory Services panelists shares learnings from his experience on a recent ULI Advisory Services panel working with the city of Miami and the Miami Downtown Development Authority on its waterfront resilience efforts.
Under the Clean Energy D.C. Omnibus Amendment Act, the District is planning to move entirely to renewable electricity by 2032, with the goal of cutting the city’s greenhouse gas emissions in half by that year as part of its broader commitment to becoming entirely carbon neutral by 2050. To meet those goals, building owners will be required to make energy retrofits on about half of the buildings in the city. To help owners prepare for these changes, ULI partnered with the DowntownDC Business Improvement District for an Advisory Services panel in July.
The Energy Foundation has awarded ULI, via the ULI Foundation, a $200,000 grant to promote activities to reduce greenhouse gas emissions as part of a partnership with Bloomberg Philanthropies and the Natural Resources Defense Council. With this grant, the Institute will facilitate the engagement of its district councils, which serve members at the local level, in activities related to the American Cities Climate Challenge.
The wave of interest in well-being in the United Kingdom is expected to translate into significant investment over the next three years, according to ULI research released in the report Picture of Health: The Growing Role of Wellbeing in Commercial Real Estate Investment Decision-making. The report was released this month at an event in Birmingham, England, by the ULI U.K. Sustainability Forum to highlight the rise of well-being investment in commercial buildings.
Online video game competitions are moving out of the basement—and taking hold as the new professional sport.
Washington, D.C., has the best city park system in the United States, according to the Trust for Public Land’s eighth annual ParkScore index, which was released in May by the nonprofit organization. Saint Paul ranked second, and three-time defending champion Minneapolis dropped to third.
No introduction required for the Empire State Building, likely the most famous office building in the world. Already an icon and a historic landmark, it is also becoming a symbol of the future, thanks to a showcase renovation that overhauled the bones of the 88-year-old structure, and ongoing efforts to implement ULI’s Tenant Energy Optimization Program (TEOP), the focus of a half-day event in that building in July.
According to U.S. Census Bureau estimates, the population of Washington, D.C., topped 700,000 residents last year, the first time since 1975. But the Metropolitan Washington Council of Governments estimates a shortfall of more than 200,000 housing units by 2025 to meet the projected job growth and transportation system performance in the urban core of the D.C. region. A ULI Washington Impact Task Force report addressed two main barriers to opportunities for supply growth and attainability: navigating the entitlement and approval processes, as well as gaining community acceptance through engagement and participation.