Economy, Market & Trends
Data analytics shines as the rising star of property technology (proptech) in the real estate industry, according to a report released by ULI and international law firm Goodwin Procter.
ULI MEMBER–ONLY CONTENT: The dramatic increase in online shopping in the United States has only further increased the appetite for properties close to population centers.
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ULI Member–Only Content: When first opened, City Center Square—also home to an indoor shopping mall and food court—was one of downtown Kansas City’s standout office towers. But after a half century, the building began to show its age, changing hands at 40 percent occupancy and the food court was down to just two vendors.
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According to an annual survey by RCLCO, the top-selling U.S. master-planned community so far in 2021 is Lakewood Ranch in Sarasota, Florida, with 1,535 sales through June, 83 percent ahead of last year’s pace. Home sales in the nation’s top 50 communities exceeded expectations in the first half of 2021, with a pace that indicates the potential for a 12 percent increase at year’s end compared with 2020.
The Young Women’s Christian Association (YWCA) facility in Worcester, Massachusetts, may not fit the traditional notion of a historic U.S. building, but in a classic case of “function over form,” its renovation will provide a vital cornerstone in the redevelopment of the downtown.
The pandemic has exposed major gaps in commercial real estate’s practice concerning what people need, how people work, and how real estate functions in communities. A ULI member makes a clarion call for change in asset management.
The aging demographic profile of developed nations means the built environment may need to accommodate the needs of a growing cohort of people living beyond the expected life spans of the 20th century, according to panelists at the 2021 ULI Asia Pacific Summit.
A ULI member from Pittsburgh calls for the real estate industry to help broaden the discussion of infrastructure to include a range of enabling urban systems such as energy, water, food production, and material infrastructure—and this time design them for and with the people these systems serve.
Many malls were created with white suburban shoppers in mind. Redeveloping these properties with attention to practical needs of diverse communities can help ameliorate the legacy of racial segregation.
Total U.S. construction starts fell 2 percent in April to a seasonally adjusted annual rate of $853.5 billion, according to Dodge Data & Analytics. Single-family construction posted a sizable decline following months of strong activity, while nonresidential building and nonbuilding starts both gained.
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