Markets
Chicago
At ULI Chicago’s October gathering at the new 73-story 1000M apartment tower, located at 1000 S. Michigan Ave., key members of the building’s development, architecture and construction teams hosted a tour of the project and enlightened attendees with a panel discussion on the history behind the skyscraper’s signature cantilever.
The construction landscape has largely held steady across the United States and Canada.
The ULI Randall Lewis Center for Sustainability in Real Estate is pleased to announce its two newest board members: Esther An and Collete English Dixon.
Dallas
Released during the Institute’s 2024 Fall Meeting in Las Vegas, Emerging Trends in Real Estate® North America predicts Dallas-Fort Worth, Miami as leaders in 2025
Real estate market participants are in the midst of a “Great Reset” when it comes to adjusting views related to pricing, risk, and return expectations in an environment marked by higher interest rates and slower economic growth. The need to align thinking and strategies to fit current market dynamics is one of the key themes in the 2024 Emerging Trends in Real Estateforecast for the United States and Canada.
ULI’s new report shares promising examples of efforts to reconnect communities divided by highway infrastructure.
Los Angeles
Six months after urban wildfires devastated neighborhoods in Los Angeles, signs of rebuilding are evident. Although the landscape still resembles a charred war zone, many residential lots have been cleared with assistance from FEMA. In Altadena and Pacific Palisades—the communities that, together, lost more than 16,000 structures—some homeowners are overcoming huge hurdles, such as permitting and steep construction costs, and are expected to begin rebuilding this year. And builders are banding together in a new Builders Alliance to share resources and incrementally ease the massive housing shortage that plagued the city even before the fires.
Deep discounts, favorable financing, and long-term benefits are turning users into owners.
At the Urban Land Institute’s 2025 Spring Meeting in Denver, real estate leaders gathered to share critical lessons learned from the catastrophic wildfires that ravaged Los Angeles in January. The panel, “Rebuilding Resilience: A Conversation with Leaders on Lessons from the Los Angeles Wildfires,” emphasized the importance of swift disaster response and collaborative approaches, as members unveiled the influential Project Recovery: Rebuilding Los Angeles After the January 2025 Wildfires report, which they hope will serve as a blueprint for other cities facing disasters.
New York City
Speakers mixed good news and uncertainty at the “ULI New York: Real Estate Outlook 2025" event, held January 22, 2025, at the Stern School of Business at New York University in Manhattan by ULI New York in partnership with NYU Stern | Chen Institute.
Real estate dealmakers look forward to a much busier 2025. High interest rates and uncertainty have choked markets for commercial real estate since rates began their relentless rise two years ago. In 2024, banks and other lenders struggled to underwrite new loans and refinance expiring ones. Potential buyers and sellers argued about the value of assets.
Four experts discuss how to rebuild urban cores by bringing the public and private sectors together to create thriving downtowns that entice remote workers to return to the office and broaden the mix of uses.
San Francisco
From resilient parks to bold adaptive reuse, this year’s winners redefine urban innovation and community impact across the Americas
UrbanPlan is a hands-on simulation used to empower participants to shape the future of their built environment by more fully understanding the complex dynamics of urban development and the market and nonmarket forces that shape it. Established 21 years ago in collaboration with the Fisher Center of Real Estate and Urban Economics at the University of California, Berkeley, UrbanPlan was piloted in the Bay Area as a curriculum for high school and university students. The program now includes a variety of formats, including workshops for public officials and community members, and hosts programs throughout the United States and Canada, Europe, Asia and the United Kingdom.
In a world increasingly driven by environmental concerns and economic realities, the movement for sustainable commercial real estate has only gained momentum, despite shifting political tides.
Toronto
Urban Land is spotlighting some trailblazing women in commercial real estate, all of whom are members of the ULI Women’s Leadership Initiative. Emma West, partner at Toronto-based Bousfields Inc., says it was the women who were part of the WLI Toronto Committee when she first joined who were instrumental in her professional development.
Uncertainty around asset prices likely to slow transactions.
Ten projects take advantage of financial tools that promote environmentally positive development
London
A new ULI report, supported by C Change and Net Zero Imperative, outlines the key barriers to decarbonization, and presents seven guiding principles that address asset stranding risk.
TeamLHBK from the University of Cambridge in the UK has been named the winner of the sixth annual ULI Hines Student Competition—Europe.
Although ready to commence a new real estate cycle, real estate leaders globally are braced for another challenging year of uncertainty, with lingering inflation, largely driven by factors including geopolitical instability, and persistently higher interest rates in some regions, potentially delaying a hoped-for recovery in capital markets and occupancy metrics. This is according to the Emerging Trends in Real Estate® Global Outlook 2025 from PwC and ULI, which provides an important gauge of global sentiment for investment and development prospects, amalgamating and updating three regional reports which canvassed thousands of real estate leaders across Europe, the United States and Asia Pacific.
Paris
A team from ESSEC Business School in France has been named the winner in this year’s prestigious ULI Hines Student Competition – Europe. The results were announced by ULI and Hines, the global real estate investor, developer, and property manager, following the final of the fifth annual pan-European competition for integrated and multidisciplinary urban regeneration.
Despite the monetary headwinds and continued economic uncertainty around the world, there is a strong belief that the global real estate industry is at a “pivot point,” with improving prospects ahead for renewed investment activity, according to the latest Emerging Trends in Real Estate® Global Outlook 2024 from PwC and the Urban Land Institute.
Despite economic and political uncertainties, a host of market pressures—such as growing connections between sustainability and financial performance, increasing regulations, extreme weather events, and the importance of health and social equity—are driving real estate companies to prioritize sustainability like never before.
Hong Kong
Although market dynamics are changing in countries across Asia, new opportunities are opening up in real estate investment
Conducted in October, the Emerging Trends in Real Estate® survey ranked Tokyo (1), Osaka (2), Sydney (3), and Singapore (4) as the four cities with the best investment prospects for the region. However, MSCI data and anecdotal reports reveal that market disparities are profoundly evident across both geographies and sectors in Asia Pacific.
A new initiative aimed at promoting low-carbon steel in China’s real estate sector has been launched, co-convened by ULI Greenprint, the World Steel Association, and the China Iron and Steel Association. This collaboration unites major real estate developers and steel manufacturers to drive the transition to low-carbon steel production, with the goal of significantly reducing emissions in Mainland China and Hong Kong. China’s steel industry plays a pivotal role in global efforts to combat climate change.
Singapore
One of Singapore’s most vibrant districts demonstrates how public/private partnerships and the community can shape the built environment.
Governments, businesses, and communities need to collaborate to reduce carbon emissions to ensure that decarbonisation is not just a buzzword.
During his keynote address at the 2024 ULI Singapore Annual Conference, more than 300 participants gathered at the Parkroyal Collection Marina Bay to hear Olivier Lim, chairman of StarHub and the Singapore Tourism Board—based upon his 35 years of experience in real estate, banking, and leadership—how land and real estate shaped Singapore’s path as a nation.
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