Residential
Affordable Housing – To Rehab or Build Again? That is the Question. When it comes to affordable housing, where are our limited resources best applied, to preserving existing affordable housing or to developing new units? Two distinct affordable housing projects in the Twin Cities serve as good examples of the inherent value of the former.
Comparing September to a year earlier, unemployment rates dropped in more than half (27) of the 49 major metropolitan areas according to the Bureau of Labor Statistics. Employment is one of the key drivers of the economy and the housing market, so positive employment trends potentially hold out hope for future residential and commercial real estate activity. Read where the best job growth and unemployment improvement are.
The California Green Building Standards Code – better known as CALGreen – will be the first state-level code to set mandatory green-building requirements. It is intended to help the state reach its 2020 greenhouse gas reduction targets and is designed to make the construction process more eco-friendly. Read about the intention and requirements of CALGreen.
The real estate bust left the nation’s urban landscape littered with deteriorating, unfinished projects. After sitting untouched, some failed projects are finally getting a second chance as banks begin offering them to investors at steep discounts to clear their books and replenish capital reserves. Read about important considerations for undertaking these projects and about some of the success stories.
ULI’s Fall Meeting in Washington, D.C., provided actionable information and a slightly upbeat note compared to the mood seen during the depths of the 2008–2009 recession. In addition to the usual high-level panels and research presented at ULI’s annual fall meetings, the 2010 edition, held in Washington, D.C., offered top-ranking current and former government officials, many of whom broke away from their day jobs to come to the convention center and make presentations. Read what FDIC chair Sheila Bair considers the biggest concern regarding the economy.
Most cities and jurisdictions are not sustained by large catalytic redevelopments. On the contrary, they are typically built “block by block, or even lock by lock,” by small to medium-sized development businesses accomplishing significant infill developments that contribute to the urban environment. Read about the examples of successful infill projects presented by the panelists at the ULI 2010 Fall Meeting session entitled, “Entrepreneurial Development Strategies for Targeted Infill.”
Two of the major demographic groups reshaping how America is growing are immigrants, who are radically changing the ethnic composition of the United States, and baby boomers, who are delaying retirement and staying active as they age. The result: new “Melting Pot” and “Sunbelt” states that will reap the economic benefits. So says William H. Frey, senior fellow at the Brookings Institution. Read how the patterns of immigration and migration have changed since the last census.
New laws and regulations empower regulatory agencies, requiring significant addition to both staffs and budgets. Some reported “growth” numbers; please don’t read our syntax as being critical of Dodd-Frank as real, enforceable regulation is required. Read about the potential job creation of Dodd-Frank.
The next decade will be a reinvention of single family housing, leading to a wave of multifamily rental developments that will be designed according to consumer preference. For years, the models for developers were based upon sales numbers and price. Read about the consensus at ULI’s 2010 Fall Meeting session entitled, “Lessons Learned: New Models to Meet Changing Consumer Demand.”
Changes in demographics, income dynamics and consumer behavior all mean big changes ahead for master planned communities. This was the conclusion of panelists at a session titled “Master Planned Communities 2020” at ULI’s 2010 Fall Meeting. A panelist concluded by setting out 20 predictions for how changes in the market, the industry and the world will reshape the location and design of master planned communities.