With hotel performance wavering nationwide and new FDIC regulations setting strict capital requirements for lenders, developers are having trouble locating funding for proposed projects.
At ULI Fall’s Meeting in 2003, Senator Daniel Patrick Moynihan said, “What we built once, we can build again, or we can build differently, depending on what we think is best. This time, we can do it even better.” Read what commercial real estate professionals are doing to keep their buildings and tenants safe, and what California is doing to rebuild the base for a real estate recovery.
Experts see the near-term prospects for retail development and financing as healthier than expected. Larger national tenants are looking to expand into more markets and infill locations, while urban community-oriented retailers are studying smaller formats that are able to adapt rapidly. Read about these responses to shifting needs, as well as others in the areas of green incentives and urban development.
Baby boomers’ constantly changing demands are affecting the formation, location, and types of living communities for seniors in the United States, and a number of trends are already identifiable. Read about the differing trends as well as current lending and players in senior housing.
As society as a whole works toward a greener, more sustainable lifestyle, more and more mixed-use developments are being created in central locations near transit and with biking and walking paths, reducing the need to drive to work or run errands and enabling entire communities to be planned with multiple routes to major destinations. Read about some of the components likely to make mixed-use development more popular during coming years.
Though small mixed-use infill projects do not fit most institutional investor business models, there is a market for compact, mixed-use design and smaller housing space. Identifying better uses for properties can diminish blight, strengthen a community, and activate a new tax base, thereby increasing migration back to cities. As cities continue to show support for infill projects, developers are following suit. Read how developers are identifying better uses for properties.
The potential impact of the Patient Protection and Affordable Care Act on U.S. commercial real estate could infuse the industry with new tenants, as health care providers reach out to the newly insured. Read what five members of ULI’s newest Product Council—Health Care and Life Sciences—share about their views on the potential impact of health care reform, and changing demographics, financing strategies, and delivery models, among other trends, on real estate development.
From more, more, more, i.e., bigger houses with more stuff, and more deals at higher prices with more credit with funky financial structures, we are hitting the bottom of the cycle and entering the “era of less,” said Mitchell M. Roschelle, partner with PricewaterhouseCoopers, in his opening remarks at the Emerging Trends in Real Estate 2011 session at ULI’s Fall Meeting. Will it get better?
ULI Fall Meeting Keynote speaker Sheila Bair, chairman of the Federal Deposit Insurance Corporation (FDIC), was introduced as a key player in helping the real estate industry survive. Her leadership, foresight, and efforts to shape a strong system played a central role. Bair was clear on many topics about her preferences for how to handle loans and troubled banks.
What are smaller scale developers currently doing to survive? Four of them shared stories of what they were doing in 2007 (3 in the metropolitan Washington, D.C., region), and how they’re coping now to position their firms for future opportunities, at ULI’s 2010 Fall Meeting session, “The Current Environment for Smaller Developers.”