Wednesday, February 03, 2021

FINANCE SERIES from Commercial Observer: Investment Safe Havens > CRE Industries Driving Growth

A courtesy post for those readers who are interested: 
"Despite the market challenges of the past year, select commercial real estate asset classes have remained at the top of the list for most profitable investments. While some property types are navigating new challenges and restrictions introduced by the pandemic, others are offering high returns as they climb the ranks as the most prominent property types. 
Who are the risk takers that will seek them out?
Investment Safe Havens: The Industries Driving CRE Growth // Thursday, February 11, 2021
Tune in to hear why the life science, industrial and multifamily sectors offer the strongest investment opportunities, how lenders can break into these markets and projections for these investment safe havens as we put the pandemic behind us and look towards greater industry growth.                                                
 
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Tray Anderson

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Cushman & Wakefield

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Brad Ferguson

Vice President

HALL Structured Finance

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Leslie Himmel

Founder and Co-Managing Partner

Himmel + Meringoff Properties

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Alex Karnal

Partner and Managing Director

Deerfield

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Jamison Peschel

Managing Partner

Longfellow Real Estate Partners

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Jeffrey Simpson

Managing Partner

Arch Companies

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Brooks Slocum

Studio Director

SGA

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Dale Todd

Senior Director

Stream Realty Partners

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Pamela van Os

Sr. Vice President, Head of West Coast Agency Loan Production

Greystone

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Richard Wagman

Managing Partner & Co-Founder

Madison Capital

 
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Despite the market challenges of the past year, select commercial real estate asset classes have remained at the top of the list for most profitable investments. While some property types are navigating new challenges and restrictions introduced by the pandemic, others are offering high returns as they climb the ranks as the most prominent property types. Who are the risk takers that will seek them out?

 

Tune in to hear why the life science, industrial and multifamily sectors offer the strongest investment opportunities, how lenders can break into these markets and projections for these investment safe havens as we put the pandemic behind us and look towards greater industry growth

From Chris Salviati @ Apartment List: Rents in Mesa up by 7% year-over-year

With the first full month of 2021 data in the books, our rent estimates are showing that COVID’s impact on the market is continuing to stabilize. Our national index is up by 0.1% month-over-month, the first monthly increase that we’ve seen since last August. 
And although we continue to see significant regional variation, the markets most impacted by the pandemic are beginning to enter calmer waters. Take the pricey coastal metros where rents have been plummeting, this month’s data implies that we may have reached the bottom. At the other end of the spectrum, many of the mid-sized markets, where we have seen rents grow rapidly through the pandemic, only show modest increases.

Here are some of this month's highlights:
  • Rents in Mesa increased 0.6% month-over-month, and are up by 7% year-over-year.
  • For comparison, year-over-year rent growth in Mesa was 8.8% at this time last year.
  • Median rents in Mesa currently stand at $1076 for a 1-bedroom apartment and $1235 for a two-bedroom.

Check out the full report here: https://www.apartmentlist.com/az/mesa#rent-report. As a reminder, we recently launched a new methodology for calculating our rent estimates, all the details of which are explained here.
If you have any questions or would like to hop on a call to discuss these findings, please let me know!
Best,
CHRIS SALVIATI
Housing Economist
Apartment List
978.551.0600

The 15-minute city | Carlos Moreno

Some informative details first from a number of sources: "Living in a city means accepting a certain level of dysfunction: long commutes, noisy streets, underutilized spaces. Carlos Moreno wants to change that. In this eight minute TED talk he makes the case for the ‘15-minute city,’ where inhabitants have access to all the services they need to live, learn and thrive within their immediate vicinity - and shares ideas for making urban areas adapt to humans, not the other way around.
Carlos Moreno is a driving force behind Paris’s 15-minute city plan.
Read about how to implement 15-minute city ideas in your city in How to build back better with a 15-minute city.
This TED talk is part of Countdown, a global initiative championing solutions to the climate crisis. It was one of many presented at the virtual TED Countdown event in October 2020. We have gathered the most city-relevant talks from that event on the Knowledge Hub here.
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NOTE: One thing would-be 15-minute cities everywhere will have to reckon with is social equity—and affordable housing in particular

Moreno recognizes that large segments of the population might never enjoy the slower-paced, localized life he envisions. “Of course we need to adapt this concept for different realities,” he says. “Not all people have the possibility of having jobs within 15 minutes.” But he emphasizes that many people’s circumstances could be profoundly changed—something he believes we’re already seeing because of the pandemic’s canceled commutes. In his view, centralized corporate offices are a thing of the past; telework and constellations of coworking hubs are the future.

The 15-minute city could also be seen as what writer Dan Hill identified as a form of “post-traumatic urbanism”—a way to recover from the onslaughts of such things as property speculation, overtourism, and now the pandemic.

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". . .“The 15-minute city represents the possibility of a decentralized city,” says Carlos Moreno, a scientific director and professor specializing in complex systems and innovation at University of Paris 1. “At its heart is the concept of mixing urban social functions to create a vibrant vicinity”—replicated, like fractals, across an entire urban expanse.
Named Paris Mayor Anne Hidalgo’s special envoy for smart cities, Moreno has become a kind of deputy philosopher at City Hall as it endeavors to turn the French capital into what he calls a “city of proximities.” His 15-minute concept was developed primarily to reduce urban carbon emissions, reimagining our towns not as divided into discrete zones for living, working, and entertainment, but as mosaics of neighborhoods in which almost all residents’ needs can be met within 15 minutes of their homes on foot, by bike, or on public transit. . .  neighborhoods and villages were the norm long before automobiles and zoning codes spread out and divided up cities in the 20th century. Yet the 15-minute city represents a major departure from the recent past, and in a growing number of other cities it’s become a powerful brand for planners and politicians desperate to sell residents on a carbon-lite existence. Leaders in Barcelona, Detroit, London, Melbourne, Milan, and Portland, Ore., are all working toward similar visions. They’ve been further emboldened by the pandemic, with global mayors touting the model in a July report from the C40 Cities Climate Leadership Group as central to their recovery road maps.

With climate change, Covid-19, and political upheaval all challenging the ideals of globalism, the hope is to refashion cities as places primarily for people to walk, bike, and linger in, rather than commute to. The 15-minute city calls for a return to a more local and somewhat slower way of life, where commuting time is instead invested in richer relationships with what’s nearby. “These crises show us the possibility for rediscovering proximity,” Moreno says. “Because we now have the possibility to stay closer to home, people have rediscovered useful time—another pace for living.”

It’s a utopian vision in an era of deep social distress—but one that might, if carried out piecemeal, without an eye to equality, exacerbate existing inequities. Skeptics also wonder whether a city that’s no longer organized around getting to work is really a city at all.

Dreams of breaking down the segmented urban planning that dominated the 20th century—with industry on the outskirts, residential areas ringing the city, commerce in the core, and auto networks connecting long distances—of course aren’t new. Urban thinkers have been advocating for the preservation or return of walkable, socially mixed neighborhoods at least since the 1961 publication of Jane Jacobs’s paean to Manhattan’s Greenwich Village in The Death and Life of Great American Cities.

This advocacy has slowly filtered into mainstream planning orthodoxy. . .The 15-minute city seeks to protect the vitality that made diverse, locally oriented neighborhoods attractive in the first place. . . The challenge is far greater in the kinds of younger, sprawling cities found in North America or Australia, where cars remain the dominant form of transit.

(...Adie Tomer, a fellow at Brookings’ Metropolitan Policy Program and co-author of the report, says the 15-minute concept falls flat in America because “people in the U.S. already live in a 15-minute city, it’s just that they’re covering vast distances in a car.” Planners concerned with urban livability and rising carbon emissions might do well to focus on distance rather than time, he says. He suggests that the “3-mile city” might resonate better.)

> Welcome to the 15-minute city | Financial Times
www.ft.com › content
 
 
 
 
 

THE DIGITAL DIVIDE/DIVERSITY EQUITY INCLUSION / "Throttling" Internet Speeds: Putting a Comcast Press Release Into Context

Here's a good example to contrast one of those "feel good" corporate communications that has a back-story provided by Caroline O'Donovan writing in Buzzfeed News - first the slick release with all the politically-correct buzzwords
Comcast Provides Update on Decade-Long Commitment to Digital Equity; Announces Plans to Accelerate Efforts in 2021

 

BEA News: Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2025

  BEA News: Gross Domestic Product by State and Personal Income by S...