Topics
Capital Markets and Finance
Real estate economists continue to expect a slowdown in the U.S. economy and real estate markets over the next year, consistent with their outlook six months ago, according to a ULI survey. The economy will slow meaningfully in 2024 before improving in 2025. The Real Estate Economic Forecast, produced by the ULI Center for Real Estate Economics and Capital Markets Estate, is based on a survey including 39 economists and analysts at 35 leading real estate organizations.
As interest rates have risen, crowdfunding platforms have returned as a viable source of capital for developers.
Although deals are still getting done, it is a tough market to find capital to fund acquisitions and development, and the need to deleverage maturing loans in a higher rate environment is fueling concerns about rising commercial real estate loan stress. That challenging market is evident in slumping transaction activity.
Design & Planning
Providing end-users with a choice that originates from a binary view—either indoor or outdoor—is no longer enough.
Curating and creating great spaces is at the heart of what industry players in the built environment sector do every day. Placemaking is the “art and science” of turning the ordinary into the extraordinary.
When Team Omusubi took the stage at the 2023 ULI Asia Pacific Summit in Singapore, they were applauded not just for their winning entry in a prestigious urban development competition. The team of four students from Waseda University in Tokyo also had the unique honor of being the first-ever winners of the Asia Pacific ULI Hines Student Competition.
Development and Construction
Dan Parolek, an architect and urban designer and founder of Opticos Design, wrote a book on addressing the gap between single-family homes and large apartment complexes. Parolek recent spoke on a ULI webinar on housing solutions.
Until recently, insurance was a straightforward part of commercial real estate transactions—an important component, but generally a simple check-the-box exercise with predictable annual increases aligned with inflation. In the past few years, things have changed drastically, with skyrocketing premiums that have jarring implications for underwriters and owners.
Today, the city is a vibrant enclave of Greater Los Angeles and a destination for shopping, entertainment, and sports.
Resilience and Sustainability
After over two decades of planning, development, and construction, the Residences at Harvard Commons, a mixed-income housing development comprising 45 affordable apartments and 54 market-rate single-family homes, is nearing completion.
Despite myriad government policies, investor reporting requirements, and operational benefits driving the demand for whole-building utility data, the real estate sector still has a hard time getting it from utilities.
A one-two punch is hitting condo owners and associations in Florida, forcing some to sell to cash buyers at massive discounts or risk foreclosure. The setback could have national implications.
Issues and Trends
Senior housing occupancy increased in the third quarter of 2021 to 80.1 percent according to new National Investment Center for Seniors Housing & Care data. A significant rebound in demand and modest increase in supply contributed to the occupancy rate increase.
At a recent ULI webinar, panelists discussed the advantages of alternative construction technologies, including modular development, panelization, mass timber, and precast concrete. While not necessarily new to the construction industry, each of these technologies is becoming increasingly well known. The webinar was part of a series hosted by the ULI Terwilliger Center for Housing.
Data analytics shines as the rising star of property technology (proptech) in the real estate industry, according to a report released by ULI and international law firm Goodwin Procter.