Three existing federal tax incentive programs that have been used frequently by developers received significant upgrades in this summer’s One Big Beautiful Bill Act. Low-income housing tax credits (LIHTCs) have long provided gap equity for affordable housing projects all over the country. New markets tax credits have been providing gap funding for a wide variety of economic development projects for more than 25 years. More recently, Opportunity Zones have steered investments in projects in low-income communities. The Big Beautiful Bill made improvements to each of these programs.

The National Retail Federation predicts a record-breaking 2025 holiday season, with U.S. sales for November and December projected to grow between 3.7 percent and 4.2 percent—pushing total holiday sales past $1 trillion for the first time. Yet there also are signs that consumers are nervous; that mood, plus accounting for inflation, could leave holiday spending relatively flat.

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.

Shenzhen’s Nantou Ancient City project represents a groundbreaking approach to revitalizing China’s historic urban villages in a way that preserves their cultural heritage and community fabric. After China’s government designated Shenzhen as a Special Economic Zone in 1980, the city’s more than 400 urban villages grew rapidly to provide informal housing for an influx of migrant workers. The result: high-density residential areas that maximized rental income but often compromised on fire safety and hygiene standards.

Engaging artists in real estate development can be tricky, however. Artists and developers often speak different “languages,” but both must be understood and respected, and any gap between them must be bridged. With support from former ULI Global Governing Trustee Michael Spies, ULI’s Art in Place project identified the following best practices for effective artist/developer collaboration by drawing on focus groups, interviews, and other sources.

Whereas new construction offers a blank canvas for future-proof design, the vast majority of our parking inventory consists of existing facilities. Retrofitting these structures for the future presents unique challenges, yet they are far from insurmountable. The key lies in a strategic, phased approach that shrewdly prioritizes the most impactful upgrades, thus ensuring relevance without reinvention.

ULI Advisory Services Panels bring together leading experts to help communities navigate their most pressing land use and development challenges. What happens after the recommendations are delivered, though? One year on, we checked back with this community in Fort Worth, Texas, to see how panel insights have turned into action and how ULI’s work is helping to shape meaningful, lasting progress.

Navigating the 2026 Build: Why developers are gaining leverage with contractors even as copper prices and skilled labor scarcity remain structural hurdles

Established in 1914, the Cleveland Foundation is a community-oriented, philanthropic organization dedicated to investing in worthy individuals and nonprofit organizations in greater Cleveland, Ohio. With the lease running out on its existing headquarters in the city’s Playhouse Square district, the foundation decided to build its own headquarters, but in an intentional way that would spur economic development in one of the city’s neglected pockets.

In 2022, Philadelphia-based development firm Post Brothers bought two office buildings on Connecticut Avenue in Washington, D.C., with plans to convert them into approximately 530 residential units. Despite the site’s proximity to Dupont Circle and a coveted residential area, assembling a viable capital stack proved more challenging than anticipated. Ultimately, a $465 million Commercial Property Assessed Clean Energy loan from Nuveen Green Capital in December of 2025—billed as the largest ever originated under the program—made the conversion possible.

ULI spoke with Craig Lewis, placemaking practice group manager at Arcadis, about how prioritizing cognitive engagement in urban design can help create healthier, happier cities that promote connection and community.

It’s not as if the old two-story building at the corner of 12th and Remington Court, in Seattle’s First Hill neighborhood, was ever particularly remarkable. Even in its original incarnation, it was a straightforward, utilitarian, mixed-use structure—competently built but not especially well-proportioned or ornately detailed.

Juanita Hardy’s role as a champion of art and culture traces back three decades to her days as an IBM executive. Four years ago, she was recognized as an art advocate and collector by The Phillips Collection in Washington, D.C. Her business acumen and penchant for real estate development led her to the Urban Land Institute a decade ago. As vice chair of its Placemaking Council, she advocates for best practices that aid in creating inclusive, sustainable communities.

Durkin joins ULI from BlackRock senior leadership, where he held the position of global head of real estate research and strategy. His appointment as CEO Europe marks a continuation of the Institute’s mission and momentum, reinforcing its focus on member value, decision-making relevance, and long-term impact across the built environment at a time of significant change for the industry in Europe and globally.

How Urban Land chronicled real estate’s boom-and-bust cycles from the 1970s through the 1980s—tracking inflation, energy shocks, technology shifts, and overbuilding as they reshaped cities and markets.