Author: Mike Sheridan
Mike Sheridan is a freelance writer in Richmond, Virginia.
Articles by Mike Sheridan
- Vibrant New Neighborhoods Rise on Old Industrial Sites in Toronto
Published on June 02, 2020 in Development
West Don Lands and the Canary District, Liberty Village, and Concord CityPlace demonstrate urban renewal done well. - Region in Focus: Tracking the Growth across Six Regions in the U.S. Southeast
Published on February 24, 2020 in
Strong economies, healthy job creation, and significant population increases continue to be reported across the Southeast. - Regional Spotlight: Metro New York, New England, and the Mid-Atlantic
Published on October 28, 2019 in
Hudson Yards, Schuylkill Yards, and Port Covington are just three examples of real estate development driven by expanding and diversifying economies in the country’s Northeast and Mid-Atlantic regions. Economic sectors such as technology, education and medicine, financial services, and media are thriving and gobbling up space in major markets. - Short-Term Rentals and the Effects on Housing Affordability
Published on October 21, 2019 in
For more than a decade, online hospitality marketplaces such as Airbnb, HomeAway, Vrbo, and others have disrupted the global lodging industry by offering inexpensive short-term rental accommodations. But almost from their inception, these online marketplaces have been at loggerheads with officials and local communities who blame the firms for reducing tax revenue, causing havoc in some neighborhoods, and raising housing prices. - The Wharf in D.C. Makes a Splash
Published on September 09, 2019 in Development
Washington reconnects with a long-lost love: its waterfront. - Development Trends in U.S. Coastal Cities
Published on August 19, 2019 in
How developers are responding to rising costs—and risks—as waterfront properties remain as desirable as ever. - Regional Spotlight: U.S. West
Published on May 17, 2019 in
With a youthful and highly educated workforce, an expanding technology sector, and strong population growth, the U.S. West remains one of the country’s economic powerhouses. The younger demographics in the West, including California, Washington, Oregon, Arizona, New Mexico, Texas, Colorado, Idaho, Montana, and Wyoming, point to more economic benefits in the future. - Regional Spotlight: U.S. Southeast
Published on April 29, 2019 in
With a relatively low cost of living, above-average population growth, a mild climate, and abundant land for development, the Southeast continues to be one of the most popular areas for real estate development in the United States. The region, including Florida, Georgia, North and South Carolina, Alabama, Mississippi, Virginia, West Virginia, and Kentucky, boasts 21 percent of the total U.S. population and accounts for 28 percent of total housing starts. - Minority Residents Can Feel Left Out of the Development Wave That Has Engulfed Cities Such as Nashville
Published on April 18, 2019 in
The civil rights struggle of 50 years ago—Nashville was the first southern city to desegregate public services, setting an example for activists throughout the South—continues today, but now it is more focused on economic equality. That was the main takeaway from a ULI Spring Meeting session during which panelists discussed how much the civil rights struggle has achieved and how much further it has to go. - ULI Forecast Shows U.S. Growth Continuing Over Next Three Years
Published on April 18, 2019 in
The United States’s economic expansion is expected to continue over the next three years, with growth moderating by 2021, according to the 15th annual ULI Real Estate Economic Forecast covering 27 economic and real estate indicators. - Fifth + Broad: Making Connections in the New Downtown Nashville
Published on April 08, 2019 in Development
A major mixed-use development on the old convention center site aims to tie downtown neighborhoods together and enhance the 24/7 urban vibe. - Driving Office Redevelopment in the U.S. Northeast
Published on December 10, 2018 in
A number of cities in the U.S. Northeast are supplanting outdated office product with new thanks to strong, diversified economies; vigorous job creation; and increasing formation of businesses. Further driving development in the Northeast—New York, Massachusetts, Pennsylvania, and New Jersey—is continuing demand from the education and medicine (“eds and meds”) and technology sectors, among others. - Amenities, Diversity Are Key Ingredients of Innovation Communities
Published on October 16, 2018 in Planning & Design
There is no “secret sauce” vital to creating an innovation community, but certain ingredients are necessary, ULI members were told during the 2018 ULI Fall Meeting in Boston. - Tech and Manufacturing Driving Growth in Southern U.S. Markets
Published on August 27, 2018 in
While America’s South continues on a steady course with a growing population and an increasing number of jobs, officials are acting on some challenges, which include traffic, housing affordability, education needs, and the rising cost of construction. - Office and Residential Development Driving Revival of Midwest Downtowns
Published on July 13, 2018 in
Foxconn Technology Group is investing $10 billion to build some 22 million square feet (2 million sq m) of manufacturing space near Milwaukee, but other cities are also reaping the rewards of the Midwest’s growing tech sector. - How Detroit Battled Its Way Out of Bankruptcy
Published on May 07, 2018 in
Detroit’s bankruptcy marked a turn in the fate of the city. Along with the economic downfall came rare opportunities for investment, creation, and collaboration. - Rent-to-Own Tiny Homes as a Potential Path out of Poverty
Published on May 07, 2018 in
Could ownership of 250- to 400-square-foot (23 to 37 sq m) homes help low-income people acquire an asset and begin to accrue wealth? Panelists at the 2018 ULI Spring Meeting said it is certainly an idea worth trying. - Net-Zero-Energy Construction Is Becoming More Cost-Effective
Published on May 03, 2018 in
Companies understand the attraction of more economical, more comfortable spaces. But lenders still need to be educated about net-zero energy’s lower operating costs. - Needs for More Power, Flexibility Driving Markets for Industrial Property
Published on May 03, 2018 in
E-commerce has brought industrial into the 21st century, said panelists at the ULI Spring Meeting, and technology has become more sophisticated in today’s industrial offerings. More important, industrial developers are constructing product that provides flexibility for tenant users, with more container parking storage and additional car parking if the tenant is an e-commerce user. - Regional Spotlight: Office and Mixed-Use Projects Drive Growth in the U.S. Mid-Atlantic
Published on February 09, 2018 in
After years of planning, the first phase of one of Washington, D.C.’s most ambitious projects, the Wharf, opened in October. The Wharf is but one of the ambitious real estate developments planned, under construction, or recently completed along waterfronts in America’s Mid-Atlantic region, including D.C., Virginia, Maryland, and Pennsylvania. - Employment and Affordability Driving Growth in the U.S. Southeast
Published on July 05, 2017 in Development
The Southeast region continues to generate steady gains in commercial real estate performance as positive employment momentum converges with generally limited development pipelines. - Planning for Uncertainty Among Shifting Political Tides
Published on May 15, 2017 in
The first 100 days of the new U.S. administration has been marked by uncertainty and ambiguity—and while foreign real estate investors are concerned, they still believe the United States is a good place to invest. But panelists speaking at the ULI Spring Meeting in Seattle said they are optimistic about reforms to FIRPTA and more investment in infrastructure. - Augmented Reality, Piezoelectric Power Could Enhance Built Environment
Published on May 12, 2017 in
Emerging technologies will bring major changes to the real estate industry, prompting questions that people will be pondering over the coming months and years. “We’ve got to restart our thinking about what we do,” said Paul Doherty, chief executive officer and president of Memphis-based the Digit Group, a leading provider of “smart city” solutions. - Millennials Desires Changing Design of Modern MPCs
Published on May 10, 2017 in
Developers of master-planned communities (MPCs) must prepare for the next generation of buyers who will be more sophisticated and more discerning because they will come from urban environments, attendees were told at the 2017 ULI Spring Meeting. - How Three Cities Are Addressing Resilience, Equity, and Revitalization
Published on May 08, 2017 in
The mayors of Grand Rapids, Michigan; Anchorage, Alaska; and San Jose, California, spoke at a forum presented by the Rose Center for Public Leadership in Land Use in Seattle discussing their solutions for the issues of revitalization, equity, and resilience in cities. - Market Outlook: Washington + Oregon
Published on May 01, 2017 in
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. - Increased Employment, Demand Driving Development in U.S. Midwest
Published on February 24, 2017 in
Real estate activity in America’s heartland is growing at a solid clip, driven by increases in employment, a recovering economy, and pent-up demand for new product. - The Evolution of Modern Architecture, Engineering, and Design Firms
Published on January 17, 2017 in
They face common challenges managing technology, attracting talent—and making the transition to a new generation of leadership. - Robust Job Growth Driving Development in the U.S. Mid-Atlantic
Published on January 15, 2017 in Economy, Market & Trends
What's to come in real estate development in Washington D.C., Virginia, Maryland, Pennsylvania, and Delaware? - Special Section: California
Published on July 15, 2016 in Development
If California were a nation, it would have the eighth-largest economy in the world. This powerhouse continues to experience strong demand for real estate. - How Three U.S. Cities Are Building on Public/Private Partnerships
Published on April 28, 2016 in
American cities seeking to reinvent themselves can do so by using creative financing, among other tools, according to a panel of experts at the 2016 ULI Spring Meeting in Philadelphia. The panel also served as the launch event for the new ULI publication Reaching for the Future: Creative Finance for Smaller Communities. - Master-Planned Communities Look to Innovative Future
Published on April 25, 2016 in Development
Developers of master-planned communities (MPCs) must innovate to remain relevant, said Kathleen B. Cecilian, a ULI governor and chief executive officer (CEO) of Flemington, New Jersey–based marketing firm Cecilian Worldwide, speaking at the 2016 ULI Spring Meeting. “There are innovators in each of your companies who should stimulate discussions about the future of MPCs,” she said. - Adding Value for Multifamily as Financing Begins to Tighten
Published on April 25, 2016 in
As financing for real estate development tightens, institutional equity investors are becoming more selective in their funding, and developers are exploring new market segments such as the over-70 sector, said panelists speaking at the 2016 ULI Spring Meeting. - Special Section: Northeast
Published on April 15, 2016 in
New York City’s private sector job count is at an all-time high. In Philadelphia, payrolls are up, unemployment is down, and inflation is modest. And Boston’s economy is on the upswing thanks to strong growth in the education and medical sectors. - Camden’s Comeback
Published on April 11, 2016 in Development
The troubled New Jersey city is tackling its crime and education problems—and luring development with hefty tax incentives. - Special Section: Midwest
Published on March 01, 2016 in
Compared with the rapid pace of development along the East Coast and West Coast, the real estate market in the Midwest tends to be slow and steady. - Special Section: Retail
Published on February 01, 2016 in
The growing economic impact of millennials, growing demand for dining, and increasing interest from international brands are transforming the American retail real estate landscape. - Increasing Access to Financing for Energy-Efficient Retrofits
Published on October 26, 2015 in
The availability of financing for energy efficiency and renewable energy projects has come a long way over the past few years, but it also has a way to go to gain further acceptance, experts in the field said during a session at the 2015 ULI Fall Meeting in San Francisco. - The Bay Area’s Experimentation with Solving for Housing Affordability
Published on October 19, 2015 in
Could a 220-square-foot (20 sq m) apartment be a housing solution for low- and middle-income residents in high-cost cities? What about modular housing on city-owned land? Or single-family homes reengineered to house more people? These were some of the possibilities discussed by a panel of experts at the ULI Fall Meeting in San Francisco last week. - Strong In-Migration Boosting Economies of the Pacific Northwest
Published on October 15, 2015 in
Boasting an enviable quality of life, strong in-migration, and a vibrant economy powered by technology, aerospace, and other industries, the Pacific Northwest remains one of the America’s real estate sweet spots. - Special Section: Northeast
Published on August 25, 2015 in
Recovery is still on across the Northeast, including Connecticut, Massachusetts, New Jersey, New York, and Pennsylvania. Expansion in the life sciences and technology sectors, as well as increased transit-oriented development (TOD), is spurring real estate in Boston. - Special Section: Mid-Atlantic
Published on August 15, 2015 in Development
Thanks to demand from the millennial generation and a strengthening economy, real estate development is returning to the Mid-Atlantic region, which includes Washington, D.C.; Virginia; Maryland; and North Carolina. - Special Section: Midwest
Published on April 30, 2015 in
In the 1970s, Detroit adopted a new nickname: “Renaissance City.” But for Michigan’s largest city, that designation was premature—at least until now. - Special Section: Southeast
Published on January 15, 2015 in
When Chief Executive magazine this May released its tenth annual survey of best and worst states in which to do business—based on factors including skilled workforce, taxes and regulations, and the quality of the living environment—it was no surprise that Florida, the Carolinas, and Georgia were in the top ten. - Special Section: The “New” Jersey City
Published on October 15, 2014 in
Good transportation, affordability, and millennials boost real estate development as the city reinvents itself. - Special Section: Texas
Published on July 07, 2014 in
Like a sweltering summer day in the Panhandle, the Texas real estate market is hot. Very hot. - Special Section: Pacific Northwest and Canada
Published on May 16, 2014 in
For months, the San Francisco development world has been “aTwitter” about the “technology effect” hitting the region’s real estate markets. - Racing to Get Ready: Rio 2016 Olympics
Published on May 05, 2014 in
It is envisioned as one of the grandest parties in the Western Hemisphere—the 2016 Olympic Games in Brazil. - Special Section: Florida, Georgia, and the Carolinas
Published on January 10, 2014 in
Real estate markets are warming in the sunny Southeast. After several years of little activity, development has significantly increased over the past six months. - Special Section: California
Published on September 15, 2012 in
Powered by diversified markets that include technology, shipping, and agriculture, the Golden State’s real estate industry appears to be on the upswing. - Innovation Anchors: Medical and Educational Facilities Drive Development
Published on August 01, 2012 in
Two Florida communities attract thriving health and life science clusters that boost economic growth and job gains. - Special Section Top Markets
Published on July 31, 2012 in
What do the high-tech industry’s "Silicon Hills" have in common with Massachusetts’s largest metropolis, the nation’s energy hub, the financial capital of the world, and the City by the Bay? The answer: job growth, and it is fueling real estate development. - Building for the Needs of an Information-Based Economy
Published on May 01, 2012 in Planning & Design
The desire of today’s creative class for connectivity, walkability and non-traditional live and work spaces is reshaping how designers, architects, and developers design homes and offices, says Christopher B. Leinberger, president of LOCUS, a real estate policy advocate for walkable and transit-oriented development. - Regional Spotlight: Mid-Atlantic/Carolinas
Published on April 19, 2012 in Development
The Mid-Atlantic region and the Carolinas are reporting steady real estate activity across real estate markets including hospitality, multi-family, mixed-use, health care, industrial, commercial and infrastructure. While the activity is at a slower rate than in the past, it is beyond what many other areas of the country are experiencing. Experts see developers aligning themselves for new projects in the not-too-distant future. - Regional Spotlight: Canada/Pacific Northwest
Published on March 29, 2012 in
Canada—with a real estate market that is the envy of countries around the globe—is experiencing strong demand for product. Its neighbors to the south, Washington and Oregon, are sharing in the growth. - District Snapshot: Mexico City
Published on February 22, 2012 in
According to one member of ULI Mexico’s executive council, there are currently more than 1,000 real estate projects active in Mexico City—a city that continues to be underserved in most categories. - Newark Rising
Published on February 17, 2012 in
Once the butt of jokes by late-night comedians, Newark now has building cranes dotting its skyline—proof that the Garden State’s largest city is experiencing something of a renaissance. - Anchors Away: Medical, Educational Facilities Driving Development Growth
Published on February 16, 2012 in
Medical clusters—health and life sciences clusters that include hospitals, universities, research institutions, and life science companies—can be a boon for communities, such as Lake Nona in Florida. - Regional Spotlight: Green Trends
Published on February 14, 2012 in
Green is becoming only more entrenched in building, development, and retrofitting as a new generation has grown up with a greater awareness of sustainability and the fragility of the planet. - Not Your Parents’ Pension Fund Adviser
Published on January 26, 2012 in Capital Markets
The tide is turning for pension fund advisers. For example, in Texas, equity firms seeking state pension fund business must now compete for it—and get onto a “premier list” of top-performing managers. - EPA Biggest Loser Competition: and the Winner Is . . .
Published on January 18, 2012 in
This year, several Urban Land Institute members finished strong in the U.S. Environmental Protection Agency’s Energy Star National Building Competition to see who could reduce their energy use the most. - District Snapshot: Toronto, Canada—Residential Leads Strong Real Estate Market
Published on January 10, 2012 in
With a strong economic base, vibrant financial sector, and robust in-migration, Toronto has a real estate market that is probably healthier than any other in North America, says Mark Noskiewicz, the chair of ULI Toronto. - Changing Partnerships: New Approach to the Public/Private Paradigm
Published on December 13, 2011 in
To learn how much public/private partnerships have evolved, one need look no further than a Massachusetts town more than three centuries old, which is the focus of a new paradigm for redevelopment—a private/public partnership in which the developer is taking most of the biggest financial risk. - Resilient Communities: The Evolution of the Dream Neighborhood
Published on December 13, 2011 in
Postwar master-planned communities enabled Americans to build their lives around great neighborhoods, schools, and suburban amenities. In the coming years, communities will continue to be comprehensively planned, but implementation will be in smaller increments, experts predict. - How Leadership Roles/Skills Have Changed
Published on December 13, 2011 in
"Real estate companies have become more sophisticated and require different organizational and leadership structures," says Richard A. Kessler, chief operating officer of BCP and chair of ULI New York. In the 1990s, real estate leadership became more scientific, taking over from instinct and intuition. - The Return to a Mixed-Use Way of Life
Published on December 13, 2011 in
"Considered anathema 30 to 40 years ago, architects and developers are now designing spaces that focus on employee cognitive functions and productivity to stay competitive in a knowledge economy gone global," explains David Hobstetter, principal at San Francisco–based KMD Architects. - Market Forces: A Continual Transformation
Published on December 13, 2011 in
To say U.S. real estate markets have changed dramatically over the past 75 years is an understatement. Not only have American real estate markets grown dramatically, including the creation of REITs, the first CMBS issues, “sustainability” joining the lexicon of land use, and the advancement and implementation of ever-evolving technology in land use. - Financing Tightening; Underwriting More Conservative
Published on December 09, 2011 in
“Underwriting is changing,” says Michael D. Fascitelli, president and chief executive officer of New Jersey–based Vornado Realty Trust. “It’s getting more conservative. It’s a more cautious world.” - U.S. Real Estate Markets: Hitting the Pause Button
Published on December 09, 2011 in
U.S. real estate deal flow is slowing over concerns about the debt situation in Europe, the financial stalemate in Washington, and the continued volatility in the global markets, notes Michael D. Fascitelli, president and CEO of Vornado Realty Trust. - An Emerging New Partnership: NEA’s Real Estate Development and the Arts
Published on December 07, 2011 in
For creative place-making to succeed, one needs a local—and specific—tradition of the arts, a committed philanthropic sector, and a local government structure that “gets it,” says the NEA’s chairman, Rocco Landesman. - Fascitelli on 2012
Published on December 02, 2011 in - Investment Trusts: Still the REIT Stuff?
Published on November 18, 2011 in - Parlez-Vous Français? Overseas Buyers Buoying U.S. Real Estate Markets
Published on November 17, 2011 in
Lured by the weak dollar, buyers from Europe, Asia, and South America are reentering the U.S. real estate market, buoying the hopes of developers and financial institutions across the country. Read more to learn what advice Mike Mixer, managing partner in the Las Vegas office of Colliers International, has for ULI members looking to attract the interest of out-of-country purchasers. - Panama: Real Estate Development Continues
Published on November 02, 2011 in
Boasting an average growth rate of 6 percent per annum over the last ten years, a rapidly expanding skyline, and significant infrastructure projects underway including the widening of its famous canal, Panama is becoming one of Latin America’s premier gateways for trade and commerce. Read more to learn what U.S. real estate entrepreneurs need to know before embarking on projects in this country. - ULI Members, Others Compete in EPA’s “Biggest Loser” Program
Published on October 15, 2011 in
Teams from 245 buildings around the country are going head to head in this year’s U.S. EPA Energy Star National Building Competition. Although the winner will be chosen based on which structure realizes the largest percentage reduction in energy use, the competition is also intended to highlight the importance of sustainability and to share best practices case studies. - Transit-Oriented Development: Starting at the Station
Published on October 12, 2011 in
New York’s Metropolitan Transportation Authority is pushing sustainability to new heights by seeking to turn historic Metro-North train stations outside the Big Apple into retail and dining hot spots. Learn how transit-oriented development at these transit stops is poised to benefit the real estate community, the transit agency, commuters, the communities themselves, and even the environment. - Regional Spotlight: California
Published on October 12, 2011 in
Real estate entrepreneurs and development companies have had to adjust to demographic changes and economic constraints in California. At the same time, the state’s real estate sector is adapting to new market realities. With an economy that seems to be on the mend, read what factor is bringing good news to the housing market and leading people to think about expanding their businesses. - Sustainability Remains Strong in the Golden State
Published on October 12, 2011 in
From skyscrapers to landscapers, from multifamily developments to retail emporiums, increased awareness of lower operating costs, added health benefits, and the competitive value of sustainability is driving increased demand for sustainable design in California. Read about some of the projects emphasizing sustainable design, and what professionals see as the future of the practice in the state. - Some Homebuilders Charting New Course during Downturn
Published on October 04, 2011 in
With residential real estate in the doldrums for the past few years, homebuilding companies are looking for different areas for growth. As such, firms like Toll Brothers and Lennar Corporation are pursuing opportunities that have synergies with, but may fall outside of, their core homebuilding operations—for example, golf and country clubs. Learn what homebuilders should know before branching out. - Steel City Renaissance
Published on September 28, 2011 in
Pittsburgh, Pennsylvania—a city that was once the butt of jokes—now offers numerous opportunities for developers. Spurred by growth in the medical, education, financial services, and computer software industries, downtown office rents are expected to rise 7.5 percent this year—more than triple the national average. Read what advice ULI insiders have for those who want to enter this market. - Cincinnati’s 3CDC: A Model for Urban Transformation
Published on September 28, 2011 in
Only a few years ago, Cincinnati, Ohio’s Over-the-Rhine neighborhood was known for having one of the highest crime rates in the city. Today, the area—believed to be the largest, most intact urban historic district in the United States—has been transformed into one of Cincinnati’s most vibrant sectors. Read more to learn how a private, nonprofit corporation called 3CDC made this happen and the advice and lessons that the people behind it share. - Sustainability Remains Strong in the Golden State
Published on September 28, 2011 in
From skyscrapers to landscapers, from multifamily developments to retail emporiums, increased awareness of lower operating costs, added health benefits, and the competitive value of sustainability is driving increased demand for sustainable design in California. Read about some of the projects emphasizing sustainable design, and what professionals see as the future of the practice in the state. - Multifamily in the Middle
Published on September 21, 2011 in
With multifamily yields on both coasts stagnant, some of the smart money is going inland—and more investors are expected to follow. For example, says one insider, a lot of institutional capital is looking at Texas and the middle of the country because it is getting priced out of coastal markets. Read more to learn what insiders have to say about the dramatic difference in cap rates they’re seeing. - Go Green Nashville: A Tremendous Success
Published on September 21, 2011 in
Nashville, the capital of Tennessee, now has one of the nation’s most successful home retrofitting campaigns—Go Green Nashville. It started two years ago as a small pilot initiative by the ULI Nashville Sustainability Committee, targeting an urban neighborhood within the city, and has now taken off. Read more to discover what has made this community-based initiative so successful and what lessons can be applied in your area. - Lower Manhattan Residential Strong Ten Years after 9/11
Published on September 15, 2011 in
Ten years after the terrorist attacks of 9/11, lower Manhattan has become one of the fastest-growing residential neighborhoods in New York City with a population that has more than doubled—to 56,000—over the last decade, reports the Alliance for Downtown New York, Inc. Read more to learn about the new residential and office projects that stand as a testament to this neighborhood’s comeback. - Military Offers Opportunity for Entrepreneurs
Published on September 09, 2011 in
Over the past decade, the Army, Navy, Air Force, and Marines have all embarked on major housing upgrade programs, creating a military housing construction boom. As such, those in the industry say assignments for the military are one of the hot sectors in the real estate market. Read why companies involved in military construction expect even more contract opportunities during the years ahead. - Being There First: Next Neighborhood
Published on September 07, 2011 in
By tracking jobs, creating a compelling product, and seeking transit access, one can spot the “next neighborhoods” targeted for real estate development, says developer Rick Holliday. He says developers who are monitoring a market should be tracking company expansion news, hiring announcements, office leasing, and other news. Read what other tips he has for pinpointing the next areas for development. - Shrinking Cities Smartly
Published on August 30, 2011 in
Around the country, some midsize cities are now shrinking—but green space is replacing boarded-up homes; single-family houses are rising where crowded cinder-block apartment complexes once stood; and individuals and couples are moving into rehabilitated homes that once housed families of eight. Learn how municipalities like Youngstown, Ohio, are trying to make shrinking work to their advantage. - Real Estate Standout: Student Housing
Published on August 24, 2011 in
At a time when the real estate market is anemic, student housing development is relatively robust. Long considered a laggard in the multifamily sector, student housing is becoming a standout as more developers are taking a harder look at the field, in light of rising rents and increasing enrollments. Learn what any entrepreneur should do before delving into this potentially lucrative housing sector. - Regional Spotlight: Texas
Published on August 23, 2011 in
Texas was the last state affected by the recession and is one of the first to emerge. It benefits from population and job growth and from being a business- and tax-friendly state. Read about the bright spots in the state’s real estate sector—including major markets like Dallas–Fort Worth and Austin—and learn which sectors hold the most promise. - Affordable Housing Sector Finding New Financing Sources
Published on August 11, 2011 in
Internet giant Google is among a number of new investors in low-income housing tax credits (LIHTCs) that have breathed new life into the affordable housing sector. However, the market is currently in flux: high yields that characterized the affordable housing market in 2009–2010 have returned to more normal levels—requiring those who want to enter the LIHTC arena to do their homework. - Downtown Miami Experiencing New Development Following Residential Renaissance
Published on August 09, 2011 in
Hong Kong–based Swire Properties is planning Brickell CitiCentre (BCC), a nine-acre (3.6-ha) mixed-use development in the heart of Miami’s Brickell Financial District. And in May, Genting Malaysia Bhd announced plans to build Resorts World Miami after buying a 13.9-acre (5.6-ha) piece of land. Read how downtown Miami’s fast-growing residential population has made these projects possible. - Like Actors, Retail Properties Are Getting Face-Lifts, Too
Published on August 04, 2011 in
Across the United States, making old new again is rapidly becoming a trend in the retail real estate industry. In a market where competition for tenants is fierce, sprucing up older properties can make a difference in getting retailers to sign leases. Read more to learn how developers can successfully renovate tired retail properties to secure higher rents and better tenants. - Brazil’s Real Estate Market: Muito quente
Published on July 21, 2011 in
South America’s largest and most vibrant economy, Brazil, is very hot for real estate development nowadays. It is also one of the fastest-growing emerging countries in the world, with gross domestic product gains of 7.5 percent last year, and expectations of 4.5 percent this year—substantially outpacing the United States. Learn what companies should know before jumping into this exciting real estate market. - Real Estate Deals in China: Know the Market
Published on July 13, 2011 in
Thinking of doing real estate development in China? Then read what tips ULI members Bill Callaway, principal at SWA Group, a Sausalito, California–based international landscape architecture and planning firm, and Gene Schnair, managing partner in the West Coast offices of the international architecture firm of Skidmore, Owings & Merrill, have for those who want to do business in the Middle Kingdom. - Resurgence of the Second-Home Market Is Expected to Accelerate
Published on July 08, 2011 in
After two years of tough times, America’s second-home market is showing signs of life in select markets, thanks to increasing confidence in the economy, targeted marketing of properties to select segments, and a desire by many baby boomers to get on with their lives, say industry insiders. Read what advice they are giving to developers and entrepreneurs who want to enter this reviving market. - Quincy, Massachusetts: A New Redevelopment Paradigm
Published on June 29, 2011 in
To transform the city’s moribund central business district, municipal officials in Quincy, Massachusetts, are partnering with Street-Works—a development firm that specializes in the creation of mixed-use districts around public spaces. What’s unusual about the Quincy project, however, is that the private sector—rather than the public sector—is doing the heavy lifting upfront. Learn more. - Credit Crunch Easing in Real Estate Sector
Published on June 28, 2011 in
Traditional lending sources such as commercial banks are returning to the marketplace and alternative methods of financing are becoming more available to real estate entrepreneurs—signaling that the credit crunch that has plagued the real estate industry over the past 18 months is easing. Read what experts say about banks and investment firms that are looking to place debt capital in real estate. - Phoenix Real Estate Development Looking to the Sun
Published on June 22, 2011 in
With 300-plus days of sunshine a year, Phoenix is becoming a center for solar innovation, with developers and cities alike taking the renewable-energy push to new heights. Read how residential, commercial, and industrial developers there are incorporating new technologies—from films and window systems to concentrated dishes that are not much bigger than a computer monitor—into their developments. - Industrial Sector Sees Comeback—and Changes
Published on June 15, 2011 in
The global industrial market is poised for big changes as companies reexamine their supply chain operations, says ULI trustee James J. Curtis III. Labor arbitrage, rising manufacturing costs, and a much greater sensitivity to sustainability are among those factors that will drive the industrial market in the future, he adds. Read what other experts predict for the industrial market going forward. - Sustainability Strong in Top U.S. Markets
Published on May 26, 2011 in
Leading development groups appear to recognize that competition for tenants, local government attitudes, smart exit strategies, and rising resource costs often require green strategies beyond the market baseline for their developments. Several are seeking differentiation or leadership status within a sector or region. Learn which cities are leading the way in implementing green strategies and about what forces are driving this increasing trend. - Top U.S. Markets
Published on May 24, 2011 in
Entrepreneurs, developers, architects, and financial executives from around the country say they are seeing increasing signs of a thaw in the real estate sector. Real estate activity is increasing in New York City, Seattle, Boston, Washington, D.C., San Francisco, and Denver. Find out which sector represents a market bright spot for both Seattle, Washington, and Washington, D.C. - ULI Snapshot: Orlando/Tampa
Published on April 27, 2011 in
The Orlando area is seeing a gradual improvement in both demand for land and in pricing, but Tampa Bay is doing considerably better, say real estate insiders in Florida. Read how the Orlando area is already seeing strong multifamily interest and how the Tampa Bay residential markets are expected to see a slow recovery in 2011—even in light of the lingering effects of the Great Recession. - Is The Hotel Sector Rebounding?
Published on April 20, 2011 in
“As the recovery in the industry strengthens, hotels have become an attractive sector,” says ULI’s Hotel Development Council chair. But parties entering the hospitality industry should study it carefully, says the owner of Hotel Granduca, which recently posted its highest occupancy ever. Read what other industry insiders are saying about doing business in this sector during the economic recovery. - ULI Snapshot: Raleigh-Durham, North Carolina
Published on April 15, 2011 in
With a strong economy led by government, education, and health care, the Raleigh-Durham, North Carolina, area consistently ranks among the nation’s best economies. Read what local insiders have to say about how the multifamily sector and the Class A warehouse segments have improved, as well as what’s in store for the retail and office sectors in the Research Triangle area in 2011. - Downtown Phoenix: from Ghost Town to Vibrant Neighborhood
Published on April 06, 2011 in
Ten years ago, downtown Phoenix became a ghost town at 5 p.m.—because emphasis was placed on giant sports arenas, convention centers, hotels, and redevelopment projects with chain stores. Today, however, all is different. Read what real estate insiders say turned that downtown around and how those lessons can be applied to other cities that want to reinvigorate their central business districts. - ULI Snapshot: Phoenix, Arizona
Published on March 30, 2011 in
The so-called redline drawn around the Phoenix market by investors seems to have been erased, says Steve Betts, chair of ULI Arizona. He attributes the metropolitan area’s resurgence to HEAT—Health care, Energy, Aerospace/defense, and Technology. Read what other local players are saying about this uptick in activity and why it appears that the road to recovery will be a long and bumpy one. - Regional Spotlight Southwest
Published on March 24, 2011 in - ULI Snapshot: Portland, Oregon—Real Estate Recovering
Published on March 15, 2011 in
Though job recovery in Portland is lagging behind the national average, the city is still experiencing positive in-migration with its healthy central business district and an extension of the light-rail line, the Oregon city is seeing its real estate market revive. Read what local industry insiders and ULI members have to say about the various sectors of this Pacific Northwest city’s property market. - Empire State Building Retrofit: A Window on Going Green
Published on February 24, 2011 in
Built in 1931, the 102-story Empire State Building is undergoing a retrofit that will make it one of the greenest structures in New York when completed in two years. Read Anthony E. Malkin explain the decision to create a window refurbishing facility onsite and how the eight steps taken in the retrofit will reduce energy use by 38 percent, save $4.4 million annually, and avoid 105,000 metric tons of carbon dioxide emissions over the next 15 years—all without creating tons of waste for landfills. - ULI Snapshot: Charlotte, North Carolina
Published on February 08, 2011 in
When Michelle Obama recently announced that Charlotte would host the 2012 Democratic National Convention, she also expressed praise for North Carolina’s largest municipality—and the country’s second-largest banking center by assets. Discover what assets and characteristics are driving corporations like Electrolux, Siemens, and Husqvarna to relocate to this burgeoning “New South” city. - 2011: Year of the Possible, says “Schecky” Schechner
Published on February 04, 2011 in
For real estate entrepreneurs, 2011 should be seen as the year of the possible – but not as a time when all dreams come true, says Sheridan "Schecky" Schechner, managing director and U.S. co-head of real estate investment banking at Barclays Capital in New York City. Read what Schecky Schechner states about the conventional wisdom regarding the current and future commercial real estate market. - The Rebirth of a Postponed Project: Perseus Realty’s 14W Development in D.C.
Published on February 03, 2011 in
Two years ago, a new mixed-use project at 14th and W streets, N.W., in Washington, D.C., was on the verge of development—until the credit markets collapsed. Today, 14W, which comprises 178 apartments, 170 below-grade parking spaces, and a 44,000-square-foot YMCA facility, is rising once again. Find out how a new joint venture and a multiyear delay actually helped 14W spring back to life. - Regional?Spotlight – Pacific Northwest
Published on February 01, 2011 in
Because the Pacific Northwest was one of the last regions to experience the effects of the economic recession, it likely will be one of the last to fully recover. Read why the impact of the recent downturn was not as severe as in most other areas and was not felt for nearly as long in markets like Portland, Seattle, and Vancouver. - ULI Snapshot: Nashville, Tennessee
Published on January 25, 2011 in
Employing an approach that includes new development and adaptive use, and that leverages its solid economic base and strong job growth, Nashville, Tennessee, is seeing successful redevelopment of both its urban core and waterfront. Read how projects ranging from for-rent workforce housing to mixed-use development to a convention center are poised to drive continued economic development in Music City. - ULI Snapshot: Minneapolis/St. Paul, Minnesota
Published on January 12, 2011 in
Thanks to their diversified economy, Minnesota's Twin Cities' real estate activity is picking up. Minneapolis-based firms such as 3M, Target, Cargill and Carlson Companies as well as government and healthcare are starting to drive job growth. Read what Michael Lander, president of Minneapolis-based Lander Group, and a member of the ULI Advisory Council, and others have to say about the Twin Cities’ economy and real estate activity. - The Rebirth of Houston’s Phoenix Tower
Published on January 06, 2011 in
The problem: The value of the 629,000-square-foot, 34-story Phoenix Tower in Houston was declining. Energy costs were rising alarmingly. The solution: Extensive retrofits that increased the value of the property. Read about the savings and the results that were achieved through a retrofit approach by Franklin Street Properties Corp. and Hines that can be a blueprint for owners, developers and asset managers. - ULI Snapshot: Coastal Carolinas, a Recovery in Progress
Published on January 05, 2011 in
“The market is better now than it’s been for several years,” says Jon Wilson, chair of the ULI Triangle Council. “We’re starting to see seeds of change,” says Wilson. “The Carolina coastal area is traditionally a second home market. There was a lot of product in the pipeline, including some that had been stalled because of financial problems.” Read about the growth and predicted growth in the second home, and other, markets. - Americans’ Desire for High-Speed Rail Good for Real Estate
Published on January 02, 2011 in
The chair and vice chair of ULI’s Transit Oriented Development (TOD) Council react to the results of an American Public Transportation Association (APTA) survey late last year that showed that nearly two-thirds of adults said they would definitely or probably use high-speed rail service for leisure or business travel if it were an option. Read the TOP Council members perspectives on the APTA survey results. - Back to the Basics: Marketing and Social Media Tips To Boost Activity
Published on December 28, 2010 in Development
Sales are slow. Leasing is sluggish. You need more activity, but your cash is tight. How can you squeeze more momentum from your marketing budget? Read what several ULI council members offer in terms of maximizing marketing using traditional and social media outlets. - ULI Snapshot: Austin, Texas
Published on December 08, 2010 in
Austin is one of the fastest-growing cities in the nation, and has relatively low unemployment and a housing market that was spared the recession's worst impacts. The city’s economy is doing fairly well in spite of the downturn, says Todd C. LaRue, principal in the Austin office of RCLCO Real Estate Advisors and member of the executive advisory board for ULI Austin. Read what else he and other ULI members have to say about the Austin market. - Hospitality Upswing: More guests, higher occupancy
Published on November 30, 2010 in
What is surprising for the industry is the hotel recovery is happening at such a rapid clip, says Richard C. Conti, chairman of ULI’s Hotel Development Council. “The traditional U.S. hotel industry’s demand usually follows the Gross Domestic Product (GDP) and the industry usually goes through an 8-12 year cycle,” he continues. Read what Conti and other ULI members see ahead in the hotel industry. - Regional Spotlight: Southeast
Published on November 30, 2010 in
While the real estate industry in Florida and Georgia has slowed compared to the torrid pace of several years ago, long-term economic growth and demographic trends continue to favor the two states, and that means development is expected to pick up when demand increases. Read what factors are causing developers to remain optimistic about the region’s future prospects. - Instant Message: Data Centers Are Hot
Published on November 11, 2010 in
America’s obsession with social networking on sites such as Facebook and its fascination with new technology are spurring one of the hottest trends in the real estate industry today: construction of data centers. Increased demand has also been noted by Doug Hollidge, CEO of Charlotte, North Carolina–based Five 9s Digital. Read about where this development is happening and read advice for those considering development of data centers. - Advice from a Real Estate Veteran: Think Long Term
Published on November 11, 2010 in
Despite the current volatility and concerns about financing, real estate will continue to be a good investment in the long term, says Richard A. Kessler, chief operating officer of Benenson Capital Partners LLC. Kessler, also chairman of ULI New York, offers readers advice about property type, tenants, geography and the proper approach for investing, developing and managing. - Triple-Net Leases: In Demand by Investors, an Opportunity for Developers
Published on November 11, 2010 in
A freestanding Smart & Final warehouse grocery store in Modesto, California, was sold to a private investor for $1.9 million—and at an 8.56 percent cap rate. A nearly 9 percent cap rate in today’s market? It was a triple-net-lease property in a tertiary market. Philip D. Voorhees, senior vice president in the Newport Beach, California, office of CB Richard Ellis Inc. and an expert on triple-net leases offers advice for developers. - Real Estate Up Down Under
Published on October 29, 2010 in
“The broader Australian economy is strong,” explains Roy Sheargold, Chairman of the Sheargold Group, a property development company in Sydney, Australia and a ULI Foundation Trustee. “As a result, confidence in commercial real estate is re-emerging and vacancy rates are falling.” Read what is fueling the economy in Australia, what development is underway and what experts think the market holds. - Songdo: Sustainable City of the Future
Published on October 28, 2010 in
It’s described as the largest private real estate venture in history – a $35 billion development on 1,500 acres (607 ha) of reclaimed land in Incheon, South Korea. Designed as a model for sustainable city-scale developments, Songdo International Business District (IBD) is among the first urban areas to seek Leadership in Energy and Environmental Design for Neighborhood Development certification. Read what the developer is doing to take the lessons learned to other urban areas. - Can Urban Sprawl be Hazardous to Your Health?
Published on October 11, 2010 in
According to a study published in the August issue of the American Journal of Preventive Medicine, researchers from the University of Pennsylvania, Drexel University and the RAND Corporation found that construction of a light-rail system in Charlotte, North Carolina resulted in increased physical activity and subsequent weight loss by people served by light-rail. - Vornado’s Fascitelli Sees Capital Markets Coming Back
Published on October 05, 2010 in
When one of the largest owners and managers of real estate in the United States sold through a subsidiary $660 million of 10-year commercial mortgage backed securities (CMBS) at an initial interest rate of 4.17%, the real estate world was surprised. Read what Michael D. Fascitelli, President, Chief Executive Officer of Paramus, N. J. -based Vornado Realty Trust, and a trustee of ULI, has to say about this and the CMBS market. - Real Estate Markets Will Recover, But More Pain to Come in Short Term, Says Vornado’s Fascitelli
Published on September 29, 2010 in
Vornado Realty Trust, one of the largest owners and managers of real estate in the United States, received approval to construct a 68-story, 1,216-foot- (370-m) tall tower on 34th Street in New York City. Do Vornado and Michael D. Fascitelli, the company’s president and chief executive officer, know something about the real estate market that others don’t? - Regional Spotlight Mid-Atlantic
Published on September 27, 2010 in
The real estate development sector in the U.S. Mid-Atlantic region is clearly bottoming out, says Henry Lucas, a founder and chief executive officer of Chantilly, Virginia-based ECS Group of Companies. “This year, we’re seeing mixed signals—some trends upward and some trends downward—which are classic ‘bottom-of-the-market-indicators,’” he says. Read about what trends he and others see. - Green and Affordable: A Good Combination
Published on September 10, 2010 in
In New York City’s South Bronx, a new 47-unit complex is proving that green and affordable can go together. Fox Point, developed by New York City–based Palladia Inc. and Enterprise Community Partners, is showing that environmentally sound homes for lower-income households can be a model for the future. Read how this project further dispels the perception that green is more expensive. - Regional Spotlight: Texas/Gulf Coast
Published on August 01, 2010 in
“Resilient” seems to be the best word to describe the U.S. Gulf Coast real estate industry. No matter what Texas, Louisiana, Mississippi, or Alabama experience— natural disasters, economic downturns, or other unforeseen problems—the region seems to bounce back stronger than ever. - Regional Spotlight – California/Pacific Northwest
Published on June 01, 2010 in
After months of uncertainty, the California, Oregon, and Washington real estate industry appears to have stabilized. That’s good news. The even better news is that the real estate sector is starting to improve, albeit slowly. With employment losses moderating and industrial productivity showing renewed life, the economies of California, Oregon, and Washington appear to have hit the trough and should reflect modest steps toward recovery through 2010, says Jeffrey Munger, director of research at Kennedy Associates Real Estate Counsel, LP. “California, Oregon, and Washington have each been significantly [affected] by the recession,” he says. “However, it should be noted that these states have a high concentration of industries such as health care, information technology, and business and professional services that are anticipated to lead the nation in growth over the next few years. M oreover, after a period of decline, strengthening trade volumes with now-expanding Asian economies will serve to provide a lift to vital West Coast ports over the short term.” - Regional Spotlight Northeast
Published on March 01, 2010 in
Atlantic Wharf, a mixed-use development scheduled to include a waterfront plaza, 30,000 square feet (2,787 sq m) of retail and public spaces, and a 31-story, 750,000-square-foot (69,677-sq-m) Class A office tower, is taking shape in the capital of Massachusetts. And in strong markets around the New York metropolitan area, retail development appears to be a bright spot. In neighboring Connecticut, the single-family home sector is expected to strengthen this year, and the office market in northern New Jersey is starting to gain traction.