Canada’s real estate market remains deeply challenged: Although 2026 isn’t expected to deliver a rapid rebound, there is growing recognition that the next cycle will not mirror the last. Instead, the industry is entering a generational transition that demands new strategies, partners, and capital sources, as well as a fundamental modernization of how companies operate. A record-breaking crowd of more than 500 real estate leaders heard the “balanced but cautiously optimistic” 2026 outlook at the 21st Annual “ULI Toronto Trends in Real Estate” event at the Fairmont Royal York hotel.

Molly Maybrun, chief development officer of local developer Fifth Space, and Wallace Whittier, senior real estate officer for University of California, San Francisco, spoke at the 2025 ULI Fall Meeting about their collaboration to build a new proton therapy cancer center at Fifth Space’s Dogpatch Power Station, a multiphase master-planned mixed-use development on the waterfront at the southern edge of San Francisco’s Mission Bay.

The 2026 Emerging Trends in Real Estate® Asia Pacific report, published jointly by ULI and PwC found a mood of cautious optimism among real estate professionals; however, respondents described considerable disparities in markets and sectors across the region. Tokyo was ranked as the top city for investment in the Emerging Trends survey, top of the table for the third consecutive year, followed by Singapore, Sydney, Osaka, and Seoul.

Once the heart of Kansas City’s Black commerce, arts and innovation, 18th & Vine gave rise to jazz legends like Charlie Parker and Count Basie, athletes like Jackie Robinson and Satchel Paige, and institutions including America’s Negro Leagues Baseball Museum. It was a district built from necessity, residents created their own economic and social ecosystem. Every storefront held rhythm and resilience.

District Galleria, the name of a redevelopment plan in White Plains, New York—the county seat of Westchester—will demolish a four-and-a-half-decade-old enclosed mall and transform it into a community-oriented, mixed-use residential and retail space. The development team behind the multi-billion-dollar project is Pacific Retail Capital Partners (PRCP), which formed a joint venture with mall owner Aareal Bank, local developer Louis Cappelli of the Cappelli Organization, and New York’s SL Green Realty in 2022.

Four exemplary real estate projects were named the overall winners of the 2025 ULI Europe Awards for Excellence from this year’s ten finalists. The diverse winning projects include a social housing project in Milan situated on an abandoned office development site, a new secondary school in Brussels developed in a former brewery, a new flexible life sciences hub in Stockholm, and an acute healthcare facility in Birmingham, which is intended as a catalyst for community regeneration.

Data centers entail a massive carbon footprint, both physically and operationally, and have often been criticized for their significant energy consumption. The environmental consequences have become even more acute with the rise of AI, which requires enormous computing power and cooling. Cities, designers, and policymakers now face the urgent challenge of reimagining these resource-intensive facilities so that they can meet rising energy demands while mitigating climate pressures, ensuring these buildings enhance their immediate environments rather than compromise them. The Terra Ventures Data Center in San Jose, California, exemplifies this socially responsible approach. Expected to be completed in 2027, the new facility aims to showcase how careful planning can meet both global demand and local responsibility.

Best practices for acquisition and redevelopment

A new report by the construction scheduling platform Planera shows which U.S. states are adding the most new housing in 2025.

Multifamily buildings occupy structures with storied pasts. The rise of remote work and the continued housing shortage have led to a surge in the number of apartments being carved out of former office space—70,700 in 2025 compared to 23,100 in 2022, according to RentCafe. Developers are increasingly turning to structures with former lives—as offices or industrial or commercial buildings—to create multifamily housing that gives residents dwelling spaces that feel rooted in place and connected to the broader narrative of their communities.

The ongoing challenges in decarbonizing skyscrapers, warehouses, apartments, and myriad other types of buildings were a key topic during ULI’s 3^rd Real Estate Developer & Utility Convening on September 22—part of Climate Week NYC, the largest climate conference outside of the United Nations’ COP.

ULI’s Global Sustainability Outlook, launched in 2021 by the Randall Lewis Center, has become the organization’s annual barometer on the sustainability topics shaping real estate and land use. Each year, the report distills insights from global industry leaders to identify the top issues most likely to influence strategic decision-making in the year ahead and beyond.

Last week, during ULI Washington’s Fourth Annual Future Forum, held at the Ronald Reagan Building and International Trade Center in Washington, D.C., a panel titled “Housing from All Angles” brought together three experts to examine the intersection of homelessness, development, and housing finance.

ULI’s Homeless to Housed (H2H) initiative, launched after publication of the report Homeless to Housed: The ULI Perspective in 2022, highlights the numerous real estate-driven solutions that have been undertaken in recent years to tackle the problems of affordable housing and homelessness in cities across the country.

Data center demand is exploding as AI and always‑on digital life fuel the sector, which is far outpacing the broader commercial real estate market. Yet a lack of power-adjacent land and increasingly complex approval processes are now slowing projects and threatening to put a ceiling on that growth.