📢📢📢 Exciting News! 📢📢📢 🏬🛍️ The State of the British High Street: Why Expertise Matters 🛒🏬 Dunning–Kruger effect 🌟 Have you ever wondered why, despite investing over £10,000,000,000 in the British high street, there has been no significant increase in footfall? 🚶♂️🚶♀️ 🔍 Let's take a closer look at this issue and discuss why utilizing the expertise of REAL professionals could have made a difference. 💡 📉 The decline of footfall on the British high street is an ongoing concern that affects not only businesses but also local communities. Despite substantial investments, many areas are still struggling to attract customers and revitalize their retail sectors. So, what could be the missing piece of the puzzle? EXPERTS Dunning–Kruger effect 💼 One key aspect that has been overlooked is the involvement of REAL experts who specialize in urban planning, retail strategy, and consumer behavior. These professionals possess the knowledge and experience to analyze market trends, understand customer preferences, and develop effective strategies to enhance the high street experience. 🌐 By engaging REAL experts, we could have gained valuable insights into the changing dynamics of consumer behavior and the evolving retail landscape.They could have helped identify the root causes of the footfall decline and tailored solutions to address these issues effectively. 💡 The expertise of REALL professionals could have led to better urban planning, ensuring that high streets are designed to meet the needs and expectations of modern consumers. They could have facilitated the creation of vibrant and engaging spaces that go beyond traditional retail, incorporating elements such as leisure, entertainment, and community hubs. 🔝 Additionally, REAL experts could have provided guidance on innovative marketing and branding strategies to attract and retain customers. They could have helped businesses adapt to the digital age by integrating online and offline experiences, creating seamless omnichannel journeys, and leveraging technology to drive footfall. 🤝 Collaboration between local authorities, businesses, and REAL experts is crucial for the revitalization of the British high street. By harnessing the power of REAL expertise, we can navigate the challenges and seize the opportunities presented by a rapidly changing retail landscape. ✨ It's time to recognize that the high street is not just a collection of shops, but a vital part of our communities. Let's leverage the knowledge and insights of REAL experts to breathe new life into our high streets, creating vibrant and thriving spaces that foster economic growth and social cohesion. 🌟 Are you ready to join the conversation and explore how REAL expertise can shape the future of our high streets?Let's work together to make a difference. 💪 #ExpertiseMatters #Revitalization #Community #RetailStrategy #ConsumerBehavior #Future #Innovation #EntrepreneurialShip #DigitalMarketing #VisualMerchandising
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Are you curious if Investing in Downtown Hattiesburg is a good idea? Check out the Downtown Association's plans for the future. Highlights from the 152 page report: 🧳 Visitor Traffic: From Q1 2022 to Q1 2024, downtown Hattiesburg recorded 7.2 million visits, with peak activity between 10 AM and 2 PM. This demonstrates significant foot traffic potential, especially on Saturdays. 🏗️ Real Estate and Development Incentives: Facade Improvement Grants: The city recommends increasing grants for property renovations to incentivize investment in downtown aesthetics and functionality. From $5,000 to $20,000 in the future. 🏘️ Residential Growth: A strong need for residential units downtown is identified, providing opportunities for multi-family developments that can generate consistent local spending. 🏢 Mixed-Use Development Potential: A push for mixed-use buildings that combine residential, retail, and office spaces aligns with the city’s vision for a vibrant downtown. 💵 Strategic Location and Public Investment: Public Spaces: The report highlights leveraging key public spaces (e.g., Town Square Park, Veterans Memorial Park) to spur adjacent developments, such as boutique hotels and retail spaces. 📊 Demographics: The largest visitor age group is 18-29, reflecting the nearby University of Southern Mississippi’s influence. Household income data indicates opportunities to cater to both students and mid-level professionals. 📈 Retail Leakage: Some retail categories, like grocery stores, beauty supplies, and restaurants, show gaps in local supply. This indicates potential demand for new businesses. 🌳 Planned Enhancements: Streetscape improvements, alley enhancements, and pop-up parks are in the works, aiming to increase walkability and downtown appeal.
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🌆 Embracing Urbanisation: Shaping the Future of Commercial Real Estate 🏢 By 2050, a remarkable 68% of the world's population is projected to reside in urban areas, marking a profound shift that is reshaping cityscapes and driving demand across commercial real estate sectors. At CIRES Property Solutions, we recognise the transformative impact of urbanisation on cities and the opportunities it presents for commercial properties. Key Drivers of Urbanisation: Economic Opportunities: Cities serve as hubs for employment, education, and innovation, attracting individuals in pursuit of improved living standards. Infrastructure Development: Enhanced infrastructure and public services in urban areas enhance their appeal for residents and businesses alike. Lifestyle Preferences: Younger generations favor the dynamic, convenient lifestyles offered by urban environments, contributing to urban growth. Impact on Commercial Real Estate: Rising Demand for Office Spaces: The influx of businesses and professionals into urban centres fuels the need for flexible, modern office spaces. Co-working facilities and smart buildings are pivotal in meeting this demand. Expansion of Retail Centres: Urbanisation boosts consumer spending, driving the development of vibrant shopping centres and retail districts that offer experiential and lifestyle-oriented shopping experiences. Emergence of Mixed-Use Developments: Integrating residential, commercial, and recreational spaces, mixed-use developments meet urban dwellers' desire for convenience and community. These developments provide a comprehensive urban lifestyle experience. Future Considerations: Sustainability: Sustainable building practices and green infrastructure are essential to mitigate environmental impact and foster healthier urban environments. Smart City Technologies: Incorporating smart technologies into urban planning enhances efficiency, security, and quality of life, making cities more attractive for businesses and residents. Affordable Housing: Ensuring affordable housing options in urban areas is crucial to accommodate population growth and promote socio-economic equity. Urbanisation presents exciting opportunities for the commercial real estate sector. As cities evolve, so too does the demand for innovative, sustainable properties that meet the diverse needs of urban populations. Explore how CIRES Property Solutions navigates the complexities of urbanisation to deliver tailored commercial real estate solutions. Visit our website to learn more: www.cires.co.za 🌐 @CIRES Property Solutions (Pty) Ltd @Neil Stephen @Grant Race @Pierre Bezuidenhoudt @Mark Hawke #Urbanisation #CommercialRealEstate #FutureOfCities #SmartCities #SustainableDevelopment #CIRESPropertySolutions
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How Can We Redefine Urban Living for the Next Generation? As our cities continue to evolve, the challenge of creating urban spaces that meet the needs of diverse populations becomes more pressing. My latest article in the Summer 2024 edition of UrbanLand Magazine delves into this very issue. I discuss how reactivating urban cores and transforming them into vibrant, accessible districts is key to community restoration. By integrating dining, retail, office spaces, entertainment, green spaces, and affordable housing into a cohesive urban fabric, we can create neighborhoods that truly serve their residents. In the article, I explore the concept of place-led housing, which goes beyond viewing homes as mere physical structures. These dwellings are integral components of a larger ecosystem where residents connect with each other and their surroundings. This approach emphasizes equity and inclusivity, ensuring that people of all ages, incomes, and backgrounds have access to safe and dignified housing. The article also highlights innovative projects like the Riverfront District in Wichita, Kansas, T3 ATX Eastside in Austin, Texas, and Freedom West Homes in San Francisco. These developments exemplify how thoughtful design can elevate the urban experience and create dynamic hubs where residents effortlessly blend living, working, and leisure activities—all while embracing sustainability and community connection. If you’re curious about how we can redefine urban living for the next generation, I invite you to explore the full article in UrbanLand Magazine. https://lnkd.in/gzcZUM9Z #UrbanLand #Placemaking #UrbanDevelopment #Housing #Community #DLRGroup Matthew Heller Kimberly Askin Brian Arial DLR Group
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What things define a "submarket"? Is it defined by the school district? Is it defined by the municipal boundaries and utilities service? Major right-of-ways? Shopping destinations and business districts? Some of these are too narrow and too broad by themselves, so the obvious answer is they're all involved. But it gets complicated with a region like Dallas-Fort Worth or Washington DC. These have multiple "anchors" that depend on each other like Legacy / Frisco makes living in Celina/Aubrey/Prosper possible and like Tysons makes Fairfax County its own fully sustaining region. But urban centers and shopping destinations, though they are anchors, they are themselves a market for office, retail, hospitality, storage, single-tenant, etc.. So it depends on what kind of real estate you're seeking to understand. We see submarkets in this way: When studying any kind of living, that is, for-rent and for-sale residential of any density, we focus on said anchor districts - Whether they be walkable mixed-use urban centers (e.g. Deep Ellum), shopping destinations with 2+ power centers (e.g. Alliance), or whatever major attractions exist that make people want to live somewhere. These are the centers of the radius of influence, the magnetic power over the surrounding residential market. These centers bring life to the subject submarket. Determining how wide to draw the radius is another science and is very much case by case, but generally the larger and denser the anchor, farther it goes. Whereas urban core business districts (i.e. downtown) the "anchor's anchor" and would have 10+ / 20+ mile radius boundaries, submarket anchors are generally relevant up to reasonable drive time or around 3 miles, rule of thumb unless proven otherwise. Back to what constitutes an anchor - With the study of other real estate categories or even subcategories, the equation change, sometimes slightly, sometimes substantially. For instance, where low-density for-sale residential is the focus, school district quality would become a much bigger part of the equation, but if high-density condo, not so much. When studying any kind of retail, right-of-way and traffic qualities become a larger part of the equation for defining the true submarket and its boundaries. We're looking forward to releasing multiple market and submarket studies in Q1 2025 that demonstrate this philosophy.
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Toronto, renowned for its diversity and dynamism, stands at a crossroads in urban development. For years, it has “protected” its neighbourhoods from intensification, both culturally and through policy, reported Storeys. "For the first time since the inception of the Expanding Housing Options in Neighbourhoods (EHON) initiative led by former Chief Planner Greg Lintern, we are witnessing a bold proposal, especially compared to everything we have witnessed so far. Unlike the solutions presented and approved thus far, this proposal stands a real chance of making a significant impact and moving the needle on our housing crisis." "In a nutshell, the proposed change presented to Planning and Housing Committee members tomorrow will allow a broader range of housing typologies on Major Streets within 'Neighbourhoods' – a land use designation marked in yellow on the Official Plan. For years, it has been mockingly referred to as the 'yellow belt,' drawing a parallel to the green belt, to emphasize how restrictive and challenging it can be to intensify these areas." "The new proposal will permit the construction of residential buildings up to 6 storeys in height or 30 units on properties designated as "Neighbourhoods." It will require varying setback measures for front, rear, and side property lines. Additionally, the proposed policy will permit the inclusion of small-scale retail establishments to meet local needs." https://lnkd.in/gvEumyPQ #toronto #urban #design
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Considering living above a storefront? There are conveniences and disadvantages to this urban setup.
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🌆 Urbanization vs. Suburban Expansion: A Balancing Act in CRE Development! As urban centers continue to thrive, the suburbs are seeing rapid growth. Developers are pursuing projects in both areas to meet shifting demands for work and living spaces. 🏢🏘️ What’s driving this hybrid approach? Find out in our latest article on market trends shaping commercial real estate development. 🔗 https://lnkd.in/eXFsFJDs #CommercialRealEstate #UrbanDevelopment #SuburbanGrowth #RealEstateTrends #CRE #DevelopmentStrategies #FutureOfWork
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Cleveland's Revitalization: From "Mistake on the Lake" to Model City Cleveland, once called the “Mistake on the Lake,” has transformed into a model of resilience and innovation. Since 2007, the city has repurposed 7.8 million square feet of vacant office space into housing, reducing office inventory by nearly 40%. This isn’t just change—it’s a reimagining of how cities work. Two Projects Leading the Way The Bell Apartments +Formerly the Ohio Bell Building at 45 Erieview Plaza, this 16-story structure was vacant after AT&T left in 2019. +Now, it’s 367 luxury apartments with amenities like a heated pool, grilling areas with Lake Erie views, co-working spaces, and a fitness center. It’s a centerpiece of downtown living. The Centennial +Once the Union Trust Building, this 1.3 million-square-foot property at East Ninth Street and Euclid Avenue is being repurposed for affordable housing, retail, and public spaces. +Construction began in 2023, marking a significant step in Cleveland’s downtown revitalization. Addressing Key Challenges +Housing Shortages: New residential units fill a critical need. +Economic Growth: Downtown thrives as residents support local businesses. +Environmental Sustainability: Repurposing structures reduces waste and lowers environmental impact. #TheLand Leads by Example #CLE isn’t just fixing past mistakes; it’s setting the standard for urban renewal. The city has proven how empty spaces can become thriving opportunities. As someone who has seen this transformation, I’m proud of Cleveland’s journey. Once underestimated, it’s now a leader in urban development and a model for others to follow. #UrbanTransformation 🌟 #MistakeToModel 🌊 #AdaptiveReuse 🛠️ #DowntownLiving 🏡 #InnovationCity 🚀 #HousingSolutions 🏗️ #ClevelandStrong 💪 #LakeErieViews 🌅 #SmartGrowth 🌍 #Housing #SFR 🏢 #MFR 🏘️ #Procurement #Mortage 🏠
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This Substack post from Eric Weatherholtz hits the nail squarely on the head. Eric is one of my favorite real estate philosophers and his assessment of American suburbs is, as usual, spot on: “What might feel like a dystopian sea of sameness, however, is fertile ground. America is covered with suburbs, but for the most part they lack any kind of gathering place. The good news: green shoots are sprouting across the country. Developers are seeing American suburbs for what they are - low hanging fruit of mass affluence without places to serve that most human desire: hanging out with others. The demand for such places is huge but the supply is tiny. We have the technology to solve this problem - creating personality through compact, walkable, mixed-use developments with some combination of shops, restaurants, bars, cultural venues, residences, hotels, offices, and vibrant outdoor space. It’s like fracking, but for real estate.” It’s what we do at Toro Development Company, seamlessly integrating what #CRE professionals call “uses”. We look at each vertical (retail, office, hotel, residential) as an opportunity to populate a “place”, each a “source” of human #energy that will organically form a #community. Should we change the industry’s vernacular to “mixed-source development”? #ItsNotAboutTheSpaceItsAboutThePlace #MixedUse #MixedSource #ThirdPlace #Atlanta #Medley #JohnsCreek
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Redevelopment trends are reshaping communities across Maine, and Augusta is leading the way with transformative projects like the proposed mixed-use development at the KMart Plaza. Once a largely vacant and underutilized property, this site is set to become a vibrant hub with 60 market-rate apartments, retail and office space, and a hotel—all within walking distance of the State House. This $48.5 million project represents a shift toward "live, work, play" communities that meet today’s demand for housing, convenience, and accessibility. By reimagining spaces like strip malls, Augusta is not only addressing the housing crisis but also setting a new standard for maximizing the potential of key properties. As noted in a recent article, this is part of a growing trend to bring residents closer to city centers, close to existing utilities and essential services. It’s exciting to see Augusta at the forefront of these changes, building a future that prioritizes both community and sustainability. https://lnkd.in/gr8_Mfbe
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10moTotally agree in using experts, but each town is different and has its own little querks. By bringing in experts from outside to give 'fresh eyes' on the project at the expence of local experts, people who will have tried to make changes without the major support that is around now, people who live and breath the area, the town, the street. Vision and guideance is the key to each project not what has worked in other areas. By all means let outside experts guide not lead, use their experience but don't be afraid to listen to what local people say.