Author: Kristina Kessler

Kristina Kessler is the former Editor in Chief of Urban Land, the bi-monthly magazine published by Urban Land Institute.

Articles by Kristina Kessler

  • Value Equations
    Published on December 15, 2011 in Hotels/Resorts
    With hotel performance wavering nationwide and new FDIC regulations setting strict capital requirements for lenders, developers are having trouble locating funding for proposed projects.
  • Going Foward
    Published on October 18, 2011 in Market Trends
    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.
  • Shifting Needs
    Published on July 14, 2011 in
    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.
  • Lifestyle Choices
    Published on June 15, 2011 in Market Trends
    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.
  • Into the Mix
    Published on April 19, 2011 in Planning & Design
    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.
  • Small & Smart
    Published on February 16, 2011 in Development
    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.
  • To the Rescue
    Published on December 17, 2010 in Development
    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.
  • In the Era of Less, Less Becomes More
    Published on October 18, 2010 in Market Trends
    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?
  • Surviving: Small Scale
    Published on October 16, 2010 in Development
    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.”
  • Restructure…Don’t Dump
    Published on October 16, 2010 in Capital Markets
    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.
  • Redeveloping in Difficult Times
    Published on September 01, 2010 in Development
    What redevelopment opportunities exist now worth pursuing? In eight U.S. regions, redevelopment in urban neighborhoods accounts for between one fourth and one half of all new construction this year, according to the U.S. Environmental Protection Agency. However, the lack of ready sources of capital is forcing developers to partner with city and state governments in creative ways to get projects built.
  • Pockets of Opportunity
    Published on July 01, 2010 in Capital Markets
    The number of distressed residential properties spilling onto the U.S. market is expected to depress the national median price for a single-family home another 5 to 10 percent before bottoming by year’s end or early 2011. More than 3 million homes are expected to go into foreclosure this year, with one in four homeowners owing more on their mortgage than their house is worth. According to Urban Land’s roundtable of housing experts (page 46), markets will be dominated by local public homebuilders, while smaller development companies will focus on small-scale infill development where sites are reasonably priced. With construction costs leveling off, home sizes will shrink. Expect smaller single-family lots and townhouses. Federal stimulus money and some state and local financial assistance are being made available for affordable housing projects. Green design, much discussed lately, is beginning to give projects a marketing edge, participants said.
  • The Year of Positioning
    Published on May 01, 2010 in Market Trends
    Though vacancy rates at shopping centers in the United States are not expected to peak until 2011 at around 12.2 percent, the going consensus is that for the most part, the worst of the retail crisis has passed. Too much supply has been part of the problem. Between 1999 and 2008, 25 million to 30 million square feet (2.3 million to 2.8 million sq m) of new shopping center space was added to the market annually, says Ryan Severino, an economist with Reis. This year, the volume of new center completions will likely be around 2.5 million square feet (232,000 sq m), according to CBRE Econometric Advisors. Absorption is expected to turn positive in the fourth quarter, but rents will likely continue to decline through 2012, dropping 2.9 percent this year and 0.4 percent in 2011.
  • Blueprints for Change
    Published on March 01, 2010 in Planning & Design
    As recovery from the current deep recession begins, creating strategies for reinvesting in the world’s urban areas—where half the planet’s population lives—will require an understanding of development options.
  • Surviving 2010
    Published on January 01, 2010 in Market Trends
    What is looking like a jobless recovery will spell a tepid economic rebound that will not fill buildings. The shakeout period for commercial real estate is now expected to extend several years. Unlike the last crisis, in which overbuilding affected new product, this time around vacancies are affecting the entire built environment, new and old alike. Owners without long-term leases to bridge the downturn will have a hard time surviving 2010.