Economy, Market & Trends
When the SARS epidemic surfaced in China in 2003, the impact on domestic real estate was severe but fairly short-lived, with rents and prices rebounding quickly once the outbreak had peaked. The fallout from COVID-19, however, promises to be more profound, as shrinking global demand for Chinese products turns the screw on firms that have only recently restarted operations, said industry experts working in the region.
In a discussion of the ongoing transformation of U.S. retail, panelists participating in the 2020 ULI Spring Meeting Webinar Series agreed that the authenticity, differentiation, and transparency creating a sense of place in mixed-use retail spaces are likely to be what consumers seek in the future. Single-use spaces are about convenience, but that is only half of what consumers say they are looking for.
RCLCO’s Neighborhood Atlas framework initially examined the 50 largest metropolitan areas in the country to classify each of their suburbs into one of five categories. RCLCO has expanded its analysis to cover six different types of urban neighborhoods as well, expanding to 100 of America’s largest metropolitan areas.
New York and San Francisco are the most expensive cities in the United States for construction, according to Arcadis’s 2020 International Construction Cost Index, produced by international design and consultancy firm Arcadis. Both are in the top five internationally, with London, Hong Kong, and Geneva leading the list overall.
This article is adapted from Shared Parking, Third Edition, published in spring 2020 by ULI, ICSC, and the National Parking Association.
Multifamily property managers in the United States are developing a new playbook to deal with the COVID-19 crisis. The primary focus for apartment owners and managers is making sure their residents and employees are safe. At the same time, the industry is very much in the customer service business.
ULI Los Angeles recently hosted a recording of Leading Voices in Real Estate, a podcast hosted by Matt Slepin, founder managing partner of Terra Search and a ULI Foundation Governor. Now in its third year, this podcast also recently featured Spencer Levy, chairman of Americas Research and senior economic advisor for CBRE, talking about COVID-19 and the early signs of impact on the commercial real estate market.
At a ULI Central Florida event, panelists discussed their strategies for turning around a underperforming retail districts in nearby St. Petersburg, largely through the curation of a more specific tenant mix.
A new kind of industrial and logistics property—a regional hub for e-commerce fulfillment with access to rail networks, airports, and interstate highways—is rising in places like the Rickenbacker Industrial Park, outside Columbus, Ohio.
With the population of older residents fast outpacing the supply of units designed for them, panelists at the 2020 ULI Housing Opportunity Conference in Miami shared how devolopers are working to address the misperceptions, changing financial considerations, and design trends for the sector.