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.
A number of cities in the U.S. Northeast are supplanting outdated office product with new thanks to strong, diversified economies; vigorous job creation; and increasing formation of businesses.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.
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.
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.
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.
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.
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.
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.
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.
