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.
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.
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.
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.
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.
The growing economic impact of millennials, growing demand for dining, and increasing interest from international brands are transforming the American retail real estate landscape.
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.
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.
