In the heart of Toronto, a revolution is unfolding underground. Beneath the bustling streets and towering skyscrapers, a network of pipes is tackling the climate crisis. The story of Toronto’s Deep Lake Water Cooling system and its potential to reshape the approach to sustainable development was told during a session at the ULI Spring Meeting in Toronto.
As the world struggles to deal with the threat posed by climate change, Toronto provides a template for how cities can dramatically reduce emissions at an urban scale, in a way that is sustainable from a business standpoint, according to panelists at the 2023 ULI Spring Meeting in Toronto.
Recent advances in property technology applications can enable smaller real estate operators to boost their operational capabilities and improve their tenants’ experience if they learn to think strategically about how to use the tools, said panelists at the ULI Spring Meeting in Toronto.
One company is retrofitting the heating system in five New York City apartment buildings with equipment to capture and remove carbon dioxide. The carbon dioxide is then converted to liquified form, enabling it to be repurposed as an ingredient in concrete blocks, making construction of new buildings greener as well.
From apartment buildings rising in shopping center parking lots to the redevelopment of dead-mall sites as housing, retail-to-residential conversions are an increasing trend.
For years, Canada has been an attractive place to invest in real estate, thanks to rising rents, valuations, and returns, as well as Canada’s stability and immigration trends. But as in the United States, the Canadian real estate industry was hit hard in 2022 by factors including inflation, resulting in significant disruption. Nevertheless, as in the United States, industry experts say the long-term picture remains positive due to strong fundamental underpinnings.
With an increasing shortage of housing across the United States driving up home prices and rents, communities and developers need to adopt a broader strategy. Important part of that approach will be infill development, adaptive use, and changes in zoning regulations to encourage the development of so-called “missing middle” buildings with multiple units that younger couples and families can afford to purchase, according to speakers at a recent housing conference.
Turning obsolete office buildings into apartments can be complicated and tricky—but daring developers and ingenious architects are showing a way to help solve housing shortages.
The same way that urban central business districts are morphing into neighborhoods by adding residential space, older suburban shopping malls and retail centers can get a boost by adding multifamily residential buildings and evolving into mixed-use developments, panelists said at the ULI Fall Meeting in Dallas.
Real estate companies face a complex task in learning how to comply with the U.S. Securities and Exchange Commission’s much-anticipated new rule on climate disclosure, which will require them to report their greenhouse gas emissions as well as their financial risks from climate change, panelists said at ULI’s Fall Meeting in Dallas.
