Downtown Revitalization
Home to 7.5 million people and constrained by surrounding mountains and sea, Hong Kong has evolved into one of the world’s most vertically and densely developed cities. These pressures have driven innovative approaches to transit-oriented development, public housing, and open space. The city served as an ideal setting for Cohort 8’s closing forum by offering both inspiration and critical lessons for cities grappling with similar challenges.
Australia’s population is projected to grow from 27 million to 31.3 million by 2035. At the same time, the number of Australians age 75 or older will surge from 2.1 million to 3.2 million, heightening demand for age-friendly and accessible homes and neighborhoods. The 2025 ULI Australia Conference was set against this demographic backdrop.
The impact of daytime workers on certain types of retail has long been overstated. Yes, they provide critical support for lunch eateries and coffee bars, as well as select services including fitness studios and shoe repair. But downtowns could never count on this demographic for much more than that.
Most people walking Denver’s 16th Street today won’t stop to admire its drainage system or its suspended paving soil cells. They may not notice the careful choreography of trees, transit, and human movement as they stroll the pedestrian-oriented thoroughfare. What they will notice, ideally, is that something about the street just feels better. This kind of sublime shift reveals itself through human experience.
District Galleria, the name of a redevelopment plan in White Plains, New York—the county seat of Westchester—will demolish a four-and-a-half-decade-old enclosed mall and transform it into a community-oriented, mixed-use residential and retail space. The development team behind the multi-billion-dollar project is Pacific Retail Capital Partners (PRCP), which formed a joint venture with mall owner Aareal Bank, local developer Louis Cappelli of the Cappelli Organization, and New York’s SL Green Realty in 2022.
Obsolete buildings will constitute up to 50 percent of all new housing in cities
On January 10, ULI Washington convened its second annual “Future Forum: Preparing for the Big Pivot—Building Our Future Around the Innovation Economy” event at the Johns Hopkins University Bloomberg Center. The all-day gathering, attended by more than 200 ULI members, featured insights from industry leaders and participants to address the future of the Metropolitan Washington Region.
Three existing federal tax incentive programs that have been used frequently by developers received significant upgrades in this summer’s One Big Beautiful Bill Act. Low-income housing tax credits (LIHTCs) have long provided gap equity for affordable housing projects all over the country. New markets tax credits have been providing gap funding for a wide variety of economic development projects for more than 25 years. More recently, Opportunity Zones have steered investments in projects in low-income communities. The Big Beautiful Bill made improvements to each of these programs.
In April 2025, ULI San Francisco announced a global call to “reimagine” San Francisco’s famed Market Street, soliciting ideas grounded in ecology, economy, and equality. The goal is to turn the often drab, blighted strip into a series of vibrant, interconnected communities.
Nestled in the shadow of SSM Health’s new $550 million hospital and Saint Louis University’s medical and undergraduate campuses, the former Steelcote Manufacturing Company Paint Factory and its neighboring parcels constituted a forgotten remnant of St. Louis’ proud industrial past. Few observers, if any, envisioned the area’s potential for housing not only students and hospital employees but also national entertainment options such as Topgolf and a major retailer, Target.