Currently viewing the tag: "Urban Land Institute"

I just finished reading the 2010 Emerging Trends in Real Estate.  Now in its 31st year, this report is jointly produced by PricewaterhouseCoopers and the Urban Land Institute (ULI). This is the first time I have read this report, but I am very impressed. According to the PricewaterhouseCoopers webpage this report:

is the oldest, most highly regarded annual industry outlook for the real estate and land use industry and includes interviews and survey responses from more than 900 leading real estate experts, including investors, developers, property company representatives, lenders, brokers and consultants.”

The report is downright bearish on real estate development for 2010.The report goes on the say that real estate developers are “largely dead” and that “builders can leave on long sabbaticals”. They don’t foresee construction picking up until 2012, but when it does, most construction will be focused on urban infill development.

This is great news for those of us that believe that our cities are our future. Below are some of my favorite excerpts from this report:

Next generation projects will orient to infill, urbanizing suburbs, and transit-oriented development. Smaller housing units-close to mass transit, work and 24 hour amenities-gain favor over large houses on big lots at the suburban edge.  People will continue to see greater convenience and want to reduce energy expenses, shorter commutes and smaller heating bills make up for high infill real estate costs.” (Page 12)

Infill vs. Suburbs. Road congestion, higher energy costs, and climate change concerns combine to alter people’s thinking about where they decide to live and work.  ‘It’s a fundamental shift.’ The lifestyle cost-of-living equation starts to swing away more dramatically from bigger houses on bigger lots at the suburban edge to great convenience and efficiencies gained from infill housing closer to work. These homes maybe more expensive on a price-per-pound basis, but reduced driving costs and lower heating/cooling bills provide offsets. And time saved avoiding traffic hassles moderates stress and enhances productivity. ‘Two-hour commutes reach a tipping point with higher energy costs’ and ‘near-in suburbs will do well especially if they link to business cores by mass transportation.” (Page 32)

Investors tend to favor the following:

  • Global gateway markets on East and West coasts- featuring international airports, ports and major commercial centers.
  • Cities and urbanizing infill suburbs with 24-hour attributes-upscale, pedestrian-friendly neighborhoods, convenient office, retail, entertainment, and recreation districts; mass transit alternatives to driving; good schools (public and/private); and relatively safe streets.
  • Brainpower centers-places that offer dynamic combination of colleges and universities, high paying industries-high tech, biotech, finance, and health cars (medical centers drug companies)- and government offices.” (Page 27)

Denver metro area wins points for building out its light-rail network, encouraging transit –oriented mixed-use projects around stations.” (Page 35)

So what does this mean for Miami’s future?

  • We should hold the Urban Development Boundary, this report confirms that 2 hour commutes are out of vogue.
  • Miami 21 should be implemented immediately and not delayed any further.
  • A large scale light rail system, including Baylink, is long overdue
  • If Miami wants to become a competitive city we need to diversify our economy as much as possible in order to become a brainpower center. A service economy based predominantly on tourism will not attract educated people seeking high paying jobs.

What Can an Integrated Transportation System Really Mean for South Florida?

Half Day Program
Friday, April 30, 2010
8:00am - 12:00pm
Sheraton Fort Lauderdale Airport Hotel
1825 Griffin Road
Dania Beach, FL 33004
$3 Self Parking
Register Online | Registration InformationAGENDA
Tired of trying to get from place to place in South Florida? When’s our transportation system going to make sense? What does it really mean in terms of jobs and sustainability?

Learn about how the transportation system fits together from key regional leadership and hear about how Dallas made transit work as a key economic driver for its region from Walt Humann, the driving private sector voice behind the successful effort.

Attend this program, and understand what transportation is real, what’s planned and what’s funded for South Florida. Discuss how we can use it to make economic growth happen here.

ULI has organized this program as both a learning experience and a thoughtful discussion about how we can collectively use transportation to think and act regionally. Please register today, and be part of this lively conversation.

Continuing Education Credits
AIA  - 3.5 hr. credit (submitted for review of credit)
AICP - 3.5 hr. credit (CM pending)
Agenda
8:00am Registration & Buffet Breakfast
8:00am
Welcoming Remarks
Eric Swanson, Chair, ULI SE FL/Caribbean & Executive Vice President, Flagler
Debbie Orshefsky, Program Chair & Shareholder, Greenberg Traurig
8:40am
Our Regional Systems: How can I get there from here?
Opening remarks: District Secretary Jim Wolfe, Florida Department of Transportation
Presenters:
Greg Stuart, Executive Director, Broward Metropolitan Planning Organization
Randy Whitfield, Executive Director, Palm Beach Metropolitan Planning Organization
Carlos Roa & Wilson Fernandez, Transportation Systems Managers, Miami-Dade Metropolitan Planning Organization
Joe Giullietti, Executive Director, South Florida Regional Transportation Authority
Presentation to focus on regional long range transportation plans, showing how existing & planned system link our region and the optimum integrated transportation system that could be ours. Discussion will include existing & future land use options to maximize utilization of the transportation system and insure sustainable neighborhoods.
9:55am
Keynote Presentation
Walter J. Humann, Chief Executive Officer, WJH Corp., Dallas, TX
The driving private sector force behind Dallas’ successful efforts in linking an integrated transportation system, including commuter rail, and economic development, Mr. Humann will speak from experience on how to plan, entitle, fund and implement such a transit partnership between public and private sectors, and what that effort has meant to the economic health of the Dallas/Fort Worth region.
10:55am
How to Take the Map from Plan to Reality
Issues to be addressed:
-What organizational structure can best take this initiative forward?
-How do we effectively manage across political subdivisions to get this done?
-What specifically needs to happen next?
11:45am
Next Steps
Debbie Orshefsky, Program Chair & Shareholder, Greenberg Traurig
12:00pm Adjourn
Registration Information:
Registration Fees:
ULI Member Non Member
Private $35 $55
Public Sector/Nonprofit $30 $35
Student $15 $25
*Note registration fees increase by $10 on day of event.

Registration Deadline:  Wednesday, April 28, 2010

Options:
To Register Online Click Here
To Register by Phone  1-800-321-5011 Reference Event #8135-1006
To Register by Fax or Mail Click Here to Download Registration Form - pdf file

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