In December, Moody’s Investors Service issued a report encouraging cities to invest in climate adaptation and mitigation. Cities will be evaluated in the future at least in part on how they prepare for both short-term climate “shocks” and longer-term trends associated with climate change. Moody’s is the largest credit rating agency to date to publicly outline how it evaluates climate change risk and integrates it into its credit rating assessments.Read More
ULI’s Women’s Leadership Initiative (WLI) has received a $90,000 gift from Hines, the globally renowned real estate organization, to support the creation of the WLI Hines Innovation Grants, with the goal of helping raise the visibility and number of women in leadership roles in the real estate industry and within ULI’s membership.Read More
ULI will hold its 2018 Spring Meeting May 1–3 at the Cobo Convention Center in Detroit. A major focus for the 2018 gathering will be the reinvention of urban areas into thriving places that are drawing talented workers and businesses and are becoming magnets for investment. The Detroit metropolitan area, which is experiencing an extraordinary renaissance, is a prime example of this urban evolution.Read More
While the latest Harvard University’s Joint Center for Housing Studies (JCHS) report on the state of rental housing in the United States. shows some positive signs for inventory, the overall trend persists that low- to moderate-income renters face significant cost burdens in most markets.Read More
According to a recent report from RCLCO, home sales at America’s 50 top-selling master-planned communities surpassed the 2016 totals by more than 17 percent last year. The Villages in Central Florida’s 2,231 sales puts them in the top spot again, while California’s Irvine Ranch, with sales of 1,814, comes in at second place, followed by Florida’s Lakewood Ranch, with 1,206 total sales.
The Federal Housing Authority (FHA) provided some news the housing industry can be thankful for this holiday season—an increase to loan limits across 3,011 counties. In particular, some of the markets that have faced the most rapid price appreciation over the past few years saw a sizable jump. Seattle saw the largest absolute value increase of $75,000 and a 13 percent change. Other notable year-over-year movers include Salt Lake City (8.4 percent), Minneapolis (7.3 percent), and Denver (7.2 percent).
With e-commerce’s stake in U.S. retail at less than 10 percent, suggestions of a “retail apocalypse” of brick-and-mortar stores is greatly exaggerated, panelists said during a ULI North Texas event on the retail sector. Still, panelists at an event in Dallas said the industry has to find new ways to reinvent itself and connect with customers in order to thrive.
Hong Kong has surpassed London’s West End as the world’s most expensive office market, according to new research from Cushman & Wakefield. Using proprietary data, the report ranks occupancy costs per workstation as well as workplace densities for newly developed or refurbished office space globally. At a global level, the average annual cost per workstation rose by 1.5 percent over the past 12 months.
While Japanese cities are often known for large-scale development projects, such as Roppongi Hills or Tokyo Midtown, architects and smaller developers are keen to build on a more human scale. At ULI Japan’s fall conference, which took place in Tokyo in November, two discussion panels considered how the Japanese market will develop over the next two decades.
Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, according to a report by Cushman & Wakefield. The annual Main Streets Across The World report, now in its 29th edition, tracks 451 of the top retail streets around the globe and ranks the most expensive in 68 countries by prime rental value using proprietary data.