Consumers have kept a steady foot on the gas this year. A record-high 197 million consumers shopped in stores or online over the Thanksgiving holiday weekend, according to the National Retail Federation (NRF). The NRF forecasts that holiday sales will grow between 2.5 percent and 3.5 percent, with total retail spending in the United States falling between $979.5 billion and $989 billion during November and December. That forecast also is consistent with NRF’s annual U.S. sales growth—between 2.5 percent and 3.5 percent—for 2024.

The U.S. economy did very well in 2024, said Barbara Denham, lead economist for Oxford Economics, and the forecast for the coming year is more of the same—both in New York City and across North America. However, in presenting Oxford’s favorable economic forecast for 2025 at a ULI New York event last month, Denham also noted many caveats ahead of the incoming U.S. administration.

Conducted in October, the Emerging Trends in Real Estate® survey ranked Tokyo (1), Osaka (2), Sydney (3), and Singapore (4) as the four cities with the best investment prospects for the region. However, MSCI data and anecdotal reports reveal that market disparities are profoundly evident across both geographies and sectors in Asia Pacific.

The transformation of Indianapolis’s historic Coca-Cola bottling plant into the Bottleworks District represents one of Indiana’s most ambitious adaptive use projects.

Kansas City’s Berkley Riverfront, on the banks of the Missouri River, is rapidly becoming one of the most promising urban developments in North America. With a history rooted in trade and commerce, and an unmatched reputation for world-class sports, the Heartland of America riverfront is on the brink of becoming a diverse, modern-day community hub of activity, blending residential, commercial, and recreational space.

A recent announcement from the Atlanta city government has once again sparked conversation around the redevelopment of a once-vibrant mall in Atlanta’s historic West End neighborhood.

Construction cost inflation continued to moderate in 2024. According to the global construction consulting firm Rider Levett Bucknall, cost inflation for North America increased 1.11 percent in the fourth quarter and rose 4.69 percent on a year-over-year basis. However, the Trump administration’s push for higher tariffs is reigniting concerns around higher costs ahead for real estate developers.

Demand is surging for senior housing as America’s population ages, but supply continues to lag. That gap is one reason investors in ULI’s 2025 Emerging Trends report rated the sector second highest for the best risk-adjusted returns over the next three years. Supply and demand dynamics don’t tell the whole story, though: senior housing development tends to thrive at the upper end, where seniors with means can afford to live in a continuing care retirement community.

ULI Europe has announced the establishment of three new Product Councils, focusing on Operational Real Estate, Placemaking and the global real estate markets through the European Global Exchange Council (GEC).

Helping Boulder County rebuild and strengthen after the Marshall Fire

When Denver’s Stapleton International Airport closed in the mid-1990s, community leaders saw a chance to create a new, 4,700-acre (1,900 ha) community just six miles east of downtown. The project’s original developer, Forest City Stapleton (sold to Brookfield Properties in 2018), kicked off an urban transformation that is now nearing completion 25 years later. Known for extensive resilience strategies to reduce the effects of drought, flooding, and extreme heat, Central Park’s 12 neighborhoods are home to nearly 35,000 residents, with 60 parks as well as extensive pedestrian and bicycle trails.

With a rapidly expanding market, navigating the sea of financing mechanisms is a challenge. These are more than just funding sources. They are strategic tools that channel capital into sustainable projects while also managing environmental risks and delivering financial returns.

“ULI members in San Antonio understand the precariousness of their city’s housing crisis,” says Javier Paredes, principal at StudioMassivo and ULI San Antonio member leader. “They [also] recognize the power of aligning housing with transit to create greater housing stability.” In response to San Antonio’s housing crisis, ULI San Antonio members and staff applied to participate in a local technical assistance grant program from ULI’s Homeless to Housed (H2H) initiative.

In Lafayette, Louisiana, homelessness and the lack of affordable housing are creating strain, prompting NIMBYism among community members and leaving civic leaders uncertain of a clear path forward. Understanding this challenge and the tension it can create throughout a city, ULI members gathered community members and leaders to dig into the difficult challenge of housing the city’s unhoused and most vulnerable residents. Supported by the ULI Homeless to Housed (H2H) grant initiative, Catholic Charities of Acadiana in Lafayette and ULI Louisiana gathered more than 300 residents for a series of community workshops to better understand the challenge and to outline pathways toward more deeply affordable housing and services for people most in need.

Estimates suggest that, on any given night, almost 800 individuals are unsheltered, and more than 3,700 are living in emergency or transitional housing in Philadelphia. Homelessness can often be connected to difficulties in finding affordable housing.