Urbanexus Update - Issue #63
Please scroll down for the weekly compilation of analysis, reporting and opinion about real estate and community development. Some links may lead to material that is behind a paywall.
Investment
The general public hears that they should invest in real estate; but most have no idea as to what might be the best approach for those who are not directly involved in real estate. This article concludes that real estate investment trusts offer superior goal alignment and higher risk adjusted returns.
Residential
RCLCO recently surveyed 55+ households that were seeking to move in the next two years to understand why they want to move, where they want to live in terms of community setting and/or concept, and what type of community concept and housing product they are seeking. The answers offer insights on how boomers interested in moving want to live.
Retail
Painful store closures necessary for retail health
The Woodmont Company manages about 18.5 million square feet of retail centers, enclosed regional malls and outlet centers almost exclusively on a third-party basis. Their CEO, Fred Meno, has had a front-row seat to the store closures and retail repurposing projects that have defined the market in the e-commerce era.
Construction costs and other factors affecting retail
Besides rampant store closures, one of the biggest challenges retail developers currently face is high construction costs. An ongoing labor shortage, higher prices on certain materials that have been tariffed, and the general impact of inflation have all driven costs of new development to historically high levels.
Working the development process
Extending the benefits of gentrification
A novel mix of partnerships, community involvement, and targeted philanthropy is turning a long-vacant 3.2 acre site in Seattle into a positive example of balancing development in a gentrifying neighborhood.
Advice on how to get a development project approved
Even "by-right" development projects can face challenges in the development permitting process. Here is advice on how to get the job done.
Seattle’s backyard cottage marathon After four long years, Seattle is poised to enact policy for these accessory dwellings that sets the gold standard for Cascadia and beyond.
Making older buildings safe
Fixing unreinforced masonry buildings — sccinsight.com
The National Development Council delivered a report to the City of Seattle on what it currently costs to retrofit a unreinforced masonry building and financing options that might help.
Technology
Smartest cities London has been declared the smartest city in the world, according to the sixth edition of the annual IESE Cities in Motion Index 2019. New York takes the second spot, followed by Amsterdam.
Environment
Worldwide carbon emissions — www.visualcapitalist.com Just 15 countries are responsible for almost three quarters of the world’s carbon emissions. But what does this look like per capita, and over time?
Around the world
Indigenous Indians freed by land titles
Under the 2006 Forest Rights Act, at least 150 million people could have their rights recognized to about 40 million hectares (88 million acres) of forest land, once the Indian Supreme Court gives a final verdict on an ongoing case.