Bite Size Breaking News
Welcome to Bite Size Breaking News. We post every other Monday by noon. Have lunch with The Sinreich Group and get the latest real estate news in easily digestible “bite size” portions.
Urban Land Institute (ULI) Spring Meeting
I joined thousands of real estate professionals in Nashville recently for ULI’s Spring Meeting. Keynote speakers included Thomas L. Friedman, New York Times columnist and the recipient of three Pulitzer Prizes; Kathleen Hays, global economics and policy editor for Bloomberg Television and Bloomberg Radio; and Jon Meacham, Pulitzer Prize winner and best selling author of biographies of Presidents Andrew Jackson and George H.W. Bush, who stressed that the American experience has always been and continues to be “a role of the dice.” Learn more
ULI Forecast Shows Continued Growth Over Next Three Years
According to the 15th annual ULI Real Estate Economic Forecast, which is based on the median forecasts from 45 economists/analysts at 33 major real estate firms, the U.S. economy is expected to continue expanding through 2021. Commercial real estate prices are projected to grow at moderately decreasing rates, from 5% in 2019 to 3.7% in 2020 and 2.8% in 2021. Transaction volume, which was $562B in 2018, is expected to slowly decrease from 2018 rates to $535B in 2019 and $480B in 2021. Learn more
Proptech Start Up May Unlock $15B in Annual Rental Income
$15B in rental income that otherwise gets lost every year could be captured as a result of proptech startup Nova Credit, which has developed a means of accessing foreign credit histories for recent immigrants that might not otherwise be able to lease apartments in the U.S. According to Constance Freedman, founder and managing partner of venture capital firm Moderne Ventures, proptech startups such as Nova Credit; Dwelo, a platform for connecting and managing smart devices in apartment communities; and ICON, which has developed a 3-D-printing process for small houses, have the potential to unlock significant real estate value and transform the way real estate business is done. Learn more
What Draws 100 New Residents A Day To Nashville
When Nashville’s civic leaders were asked what draws its 100 new residents a day, they stressed the significant cultural presence of their creative class of musicians and other artisans; public investment in a walkable downtown core including the new Music City convention center, the Country Music Hall of Fame and Bridgestone Arena; and the city’s record of productive public/private partnerships, the most recent of which resulted in Amazon’s decision to bring 5,000 jobs to Nashville. Learn more
What Does Amazon’s Departure Mean for the Future of NYC?
Please join Ellen Sinreich and ULI’s NY District Council for a lively debate about how New York City should wage its battle for relevance on the world stage in order to attract talent and economic development while continuing to innovate so it can adapt to the way people live and work. Our panelists will consider whether large scale projects like Hudson Yards and Amazon HQ2 will continue to be possible given increasingly vocal NIMBY activity and whether changes in the City’s approval processes are necessary for it to remain competitive. Learn more