Urbanexus Update - Issue #64

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.

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A big real estate investment

Blackstone to acquire GLP’s US logistics portfolio

Blackstone Real Estate, a division of private equity behemoth Blackstone Group (NYSE: BX), has agreed to acquire the entire U.S. logistics portfolio of Singapore-based investment manager GLP for approximately $18.7 billion. The portfolio of distribution and fulfillment centers spans roughly 179 million square feet of urban infill space across 36 major markets, nearly doubling New York City-based Blackstone’s volume of U.S. industrial real estate holdings. The sale is expected to close sometime after Labor Day.

Housing (or lack of it) in California

Litigation against a planned development north of L.A.

Earlier this year, after years of debate, Los Angeles County’s Board of Supervisors approved a master-planned development set to bring nearly 20,000 new homes to the northern edge of the county. Despite extensive environmental analysis two dissident groups are suing to stop the development, arguing that it will worsen pollution, traffic, and urban sprawl in the region.

The racist origins of San Francisco’s housing crisis

For decades, the city used strict zoning laws to target the poor and people of color. Today, liberal NIMBYs are fighting to preserve them. Thanks to Dennis Murphy for calling attention to this article.

California housing bills failed—and so did the legislators

The Democrats hold a supermajority—but failed to exercise any of their power to help the state’s most vulnerable. Hat tip to John Musial for identifying this article.

Metropolitan trends in the USA

Central city growth slows and suburban growth increases in the USA

As we approach the end of the 2010s, the biggest cities in the United States are experiencing slower growth or population losses, according to new  census estimates. The combination of city growth declines and higher suburban growth suggests that the “back to the city” trend seen at the beginning of the decade has reversed.

Dispersed urban areas dominate GDP — www.newgeography.com

For some time, the mainstream press and conventional urban planners have been obsessed with a “dense urban” narrative. Wendell Cox argues that this is largely a myth, as demonstrated by resurgent growth in suburbs and exurbs.

Urban design

A 'superblock,' for pedestrians — www.citylab.com

A short film reveals the inner workings of Barcelona’s celebrated—and controversial—street revamps. Hat tip to Alex Holtze for finding this article.

Redesign of Boston City Hall Plaza — archpaper.com

The City of Boston is finally heeding 50 years of recommendations from countless undergrad architecture theses: fix the bricked-up prairie that surrounds Boston City Hall.

Environment and resilience

L.A.’s plan to address climate change

The plan mandates that all new municipally owned buildings and major renovations be all-electric and that every building in Los Angeles be emission-free by 2050. By the mid 2030s, at least 80% of the city's electricity will come from renewable sources, and 80% of its cars will run on electricity or zero-emission fuel.

Economic realities bite on the Green New Deal — www.newgeography.com

Powering transportation will require use of sources other than renewable energy.

Real estate leadership

Bobby Turner — leadingvoicespodcast.com

Matt Slepin interviews Bobby Turner is the Principal and CEO of Turner Impact Capital, and previously the leader of Canyon’s real estate investment platform.

A downside of technology?

Ditch the GPS. It’s ruining your brain. Brain behavior changes when people rely on turn-by-turn directions.

Around the world

Colombia's push for land titles brings hope for farmers

Granting land titles is part of government efforts to promote rural development as set out in the 2016 peace deal signed with the Revolutionary Armed Forces of Colombia (FARC) rebels. Unequal land distribution was a key reason why the FARC took up arms in 1964 as a Marxist-inspired agrarian movement that fought to defend the rights of landless peasants. The government aims to formalize 7 million hectares of land, of which so far nearly a quarter have been titled, according to the University of Notre Dame's Kroc Institute for International Peace Studies.