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Standing out in the urban core of Miami, Wynwood Walls started as a collection of six privately owned warehouses whose exterior walls were transformed into an outdoor “museum of the streets” by visionary developer Tony Goldman. The Walls surround more than 1.5 acres (0.6 ha) of land—former parking lots and junkyards—that now provide multiple areas that the public can enjoy at no charge.

A neighborhood at a former naval base in North Charleston, South Carolina will be the study site for the Urban Land Institute’s 21st annual ULI Gerald D. Hines Student Urban Design Competition—an educational initiative that challenges graduate students to present a development proposal for an existing site to simulate a real-world planning, design, and development scenario.

Real estate investment trusts posted a second consecutive month of negative total returns, causing investor concern about interest rates and underlying valuations. Plus, interest rate survey data from Trepp.

As the year winds down, returns on real estate investments trusts have continued to slump as gains in interest rates put downward pressure on the sector. According to the National Association of Real Estate Investment Trusts (NAREIT), the total returns for the FTSE/NAREIT All REIT Index dropped 2 percent in November while the Standard & Poor’s 500 gained 3.7 percent. Plus, interest rate survey data from Trepp.

Supply is the name of the game with the apartment sector, which uncharacteristically underperformed through 2016. The sector, which has been a perennial leader in recent years, posted a flat 2.86 percent total return for the year, a stark contrast with its more than 50 percent rise during 2014 and 2015. Plus, interest rate survey data from Trepp.

Only $490.6 billion of commercial and multifamily housing mortgages were originated last year, according to a survey conducted by the Mortgage Bankers Association, 2.7 percent lower than the $504 billion of originations in 2015. The likely cause of the decrease was the 11 percent drop in property sales volume last year. Plus, interest rate survey data from Trepp.

Public/private partnerships (P3s) are critical to fixing aging transportation infrastructure and building new mass transit options across the United States, said former U.S. Transportation Secretary Ray LaHood in remarks that concluded a ULI conference in Detroit.

Just released: Read stories, hear from leaders, and see the progress ULI members made in the Americas and beyond in our 2017 Annual Report.

ULI and Hines have announced a new competition for graduate real estate students across Europe, expanding on its successful 18-year competition partnership in the Americas. The new ULI Hines Student Competition – Europe will see teams of four students from pan-European universities working on a case study that tests their understanding of real estate finance, investment, and development, as well as social and environmental issues, to present a solution for a timely land use challenge.