Sam Newberg

Sam Newberg is an urbanist, real estate consultant, writer, and founder and president of Joe Urban, Inc., based in Minneapolis.

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Affordable Housing – To Rehab or Build Again? That is the Question. When it comes to affordable housing, where are our limited resources best applied, to preserving existing affordable housing or to developing new units? Two distinct affordable housing projects in the Twin Cities serve as good examples of the inherent value of the former.
Nashville-based developer David McGowan knew a change of course was necessary to ensure continued success at Lenox Village, a mixed-use, new urbanist development in southeast Nashville. It was 2007 and the market for for-sale housing was slowing down while rental housing was still strong. Read how McGowan shifted the project in the face of the oncoming slowdown in the economy.
With global trade down by over 20 percent in 2009—although there has been some rebound in 2010—containers stacked high at seaports are still a common sight. Correspondingly, the industrial sector of real estate is experiencing record vacancy. Even if economic recovery begins anew this year, most estimates show a full recovery in 2011 or later.

Amid the morass, business may not be brisk—but deals are still occurring. “Companies are focused on retooling or repositioning for the turnaround,” says Rich Thompson, executive vice president at the Chicago office of Jones Lang LaSalle’s port, airport, and global infrastructure group. Thompson terms it “network optimization,” in that companies are streamlining their operations. For example, perhaps they are consolidating from three smaller warehouses to one large distribution center, which could allow the new facility to take advantage of locations near multimodal transportation options such as any combination of truck, rail, sea, or air.

Small, mixed-use infill projects are becoming favorites of the planning and development industry because of their compact urban scale, innovative design, and positive impact as catalysts for their neighborhoods.
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