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.
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.
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.
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.
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.
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.
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 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.
“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.
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.
