Markets
Chicago
In April, ULI Young Leaders participated in a webinar that addressed the current and future impact of artificial intelligence on the real estate industry and the obstacles and challenges to its adoption.
When the Field Building on Chicago’s LaSalle Street opened in 1932, it was a technological and architectural marvel, with high-speed elevators, drinking fountains, and even air-conditioning, a first for the city. Nearly a century later, the 1.3-million-square-foot (120,774 sq m) Art Deco landmark is a pioneer of a different sort.
A number of factors are encouraging developers to try to bring Mother Nature on as a partner. On the carrot side, some governments are offering incentives to build green. There are sticks as well, which are also helping to keep builders focused on their carbon footprint
Dallas
The COVID-19 pandemic made 2021 a historic year for the shipping and logistics industry, as rising e-commerce sent large retailers and general merchandisers scrambling for warehouse space to hold their inventory, supply-chain issues delayed shipments, real estate developers strained to keep up with demand, and local governments struggled to issue permits quickly with employees working from home.
Alternative lenders increased their market share in the commercial real estate debt sector in 2018, panelists said at a ULI North Texas event in March. That trend is likely to continue this year as competition among all types of debt providers heats up capital markets.
Texas markets are meeting a healthy demand for multifamily housing from millennials who are reaching renting age and baby boomers who are downsizing, while attracting investment from around the United States. At a recent conference, speakers said that fundamentals were generally strong with higher cap rates possible in tertiary markets such as Midland-Odessa, Waco, and Lubbock.
Los Angeles
A professional self-certification program could dramatically boost the recovery effort
Experts suggest more comprehensive soil testing to ensure wildfire victims can safely return home
Despite the headwinds to rebuilding quickly and efficiently, just after the worst of the Los Angeles fires, ULI Los Angeles joined UCLA Ziman Center for Real Estate and the USC Lusk Center for Real Estate to shape a response plan, created in just six weeks.
New York City
This year’s Net Zero Buildings Week is Sept. 16-20. The virtual event series supports partnerships and collaboration across the built environment industry to collectively advance net zero buildings.
Hundreds of events are scheduled September 22-27 for Climate Week NYC 2024, an annual event that drives climate action by those at the very top of business and politics, but also by communities, artists, and activists. This year’s theme: It’s Time. The built environment is a part of the dialogue, as are cross-sector issues like circular economy, water, finance, biodiversity, adaptation, health, environmental justice, policy, and more. With more than 600 events to choose from, it’s easy to assemble a perfect, customized itinerary for the week.
On August 14, ULI New York and the Holcim Foundation hosted a sold-out event on “Decarbonization at Scale,” a topic that has never been more critical for the future of the built environment in North America.
San Francisco
How seven U.S. cities are tackling the future of downtowns
ULI San Francisco recently hosted a panel revisiting the recommendations made by ULI Advisory Servies panelists to revive the downtown and highlighting the progress that has been made.
Berkeley, California, is emerging as a hub for life sciences and technology firms, with new developments opening in the West Berkeley neighborhood. In June, ULI San Francisco hosted a walking tour through two campuses targeting life sciences research and development tenants at the eastern edge of the San Francisco Bay: theLAB Berkeley and Berkeley Commons.
Toronto
Toronto’s deep-lake water cooling system stands as an example of the “third wave” of urban energy.
What ULI members need to know to ensure that revenues support equitable decarbonization of the built environment.
A recent ULI webinar—with member speakers from ULI Toronto, ULI British Columbia, and ULI Alberta—addressed what leading real estate companies are doing to decarbonize their operations and development in anticipation of regulatory requirements.
London
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.
Ten projects take advantage of financial tools that promote environmentally positive development
Paris
Following a period of successful operations and subsequent decline, the Beaugrenelle shopping center in the 15th arrondissement of Paris was demolished to make way for a new-generation venue by making the most of the existing raised slab—a significant constraint left over from the utopian style of architecture of the 1970s.
Each year, ULI’s impressive lineup of global meetings kicks off in Europe with our real estate investment and development conference, held in Paris during the winter. The 2013 event, held February 5 and 6, drew more than 500 industry leaders from 24 countries around the world—reflecting a steady increase in the geographic diversity of attendees since we started hosting the meeting 17 years ago.
New lending by European banks is likely to remain strictly conservative, limiting liquidity for the European property market.
Hong Kong
The Dasha River Ecological Corridor focuses on the ecological restoration project in the Nanshan district of Shenzhen, China. The project, led by China Resources Land and master planned by AECOM, aims to restore the watercourse that connects the coastal Nanshan district to the northern mountainous area of the city.
ULI Asia Pacific report builds the business case.
With the Asia Pacific region comprising 4.3 billion people and many of the world’s biggest cities, the sheer scale of the sustainability challenge there is daunting. However, asset owners are increasingly using more sustainable designs and technologies to boost the performance of their assets.
Singapore
As the world’s population continues to grow, there will be a need for increased urbanization to accommodate more people. The question is how and when should urban planners decide to regenerate, when to expand and when to create new cities, for sustainable growth and development of future cities, since each approach comes with its benefits and its drawbacks.
Curating and creating great spaces is at the heart of what industry players in the built environment sector do every day. Placemaking is the “art and science” of turning the ordinary into the extraordinary.
Rooftops designed to facilitate drone deliveries, whole floors in residential blocks dedicated to coworking or community spaces, and mobile supermarkets were among the futuristic concepts discussed at the 2022 ULI Singapore Annual Conference.