Saul Klein’s Post

Fabulous research that aligns with our values for a Better City - A walkable city and housing that is easily accessible- The Walk up … a slowly disappearing typology. Throughout Bondi walk ups are being demolished for luxury apartments with lifts, adding to the cost. Three storey walk ups - The four pack and the six pack were a common form of post war housing across Sydney. The Better Cities Initiative

Insightful research findings, with global application, by Places Platform LLC in partnership with Cushman & Wakefield https://lnkd.in/giFyXQsD https://lnkd.in/ghr3rXvy Valuable Insights for Optimizing City Real Estate Portfolios High-level key findings from the study: 01 WalkUPs (regionally significant Walkable Urban Places) are crucial economic engines. While occupying only 3% of the cities’ land mass, they account for almost 26% of real estate valuation, 37% of tax revenues and 57% of GDP. 02 The impact of the pandemic on WalkUPs appears to be episodic, rather than structural, with city population losses seen only for two years (2020-2021) followed by recovery in 2022 and 2023. 03 The real estate valuations in WalkUPs declined from 2019-2023, largely due to an over-inventory of office space, which contributed to 62% of the reduced valuations. 04 There is an optimal real estate product portfolio for WalkUPs to optimize GDP and real estate valuations, which targets 31% living spaces (Live), 42% workplaces (Work) and 26% play spaces (Play). 05 In particular, Downtowns are currently far more Work-centric (69.7%) than Live (15.9%) or Play (14.5%), and their portfolios should be rebalanced. 06 To achieve the optimal portfolio balance, cities should focus first on the following: Reduce Work, particularly in Downtowns Build more Live, particularly in Downtowns Increase the ratio of for-sale versus for-rent living spaces in all WalkUPs Increase Play in all WalkUPs Christopher B. Leinberger Michael Rodriguez, AICP, Nancy Allen, MBA Jackson Horton Stuart McFarland William Kane Saul Klein Mark "Puck" Mykleby John Dolan Edward Pinto Tobias Peter E. Thomas Booker III Rebecca Rockey David C. Smith Kevin Thorpe

Reimaging Cities Across America - New Cushman & Wakefield report. 6 Key Takeways from this report. 1 - WalkUPs are the most powerful economic engines of the city, occupying just 3% of the land but contributing 57% of city GDP.   2 - WalkUPs are extraordinarily productive, generating significantly more GDP per acre than other parts of the city. 3 - Investing in WalkUPs provides significant rent and price per square foot premiums due to pent-up demand for walkable and mixed-use places.   4 - Portfolio theory applies to cities’ real estate, not just individual investors’ portfolios. A diversified real estate portfolio is crucial for both investors and cities alike. Most central city portfolios are currently over-concentrated in office spaces, which has contributed significantly to valuation declines. 5 - The impact of the pandemic on these walkable urban areas is showing signs of reversal with city population growth once again resuming since 2022. This suggests the early 21st century “return to the city” trend will resume, leading to increased vibrancy, recovery and growth in property values and city tax revenues.  6 - This is not to minimize decline in values that office investors are realizing in today’s market. In the near-term, investors will face challenges, but those also present longer-term opportunities, including spearheading the reimagining of these urban cores.  

Worth a scan. What’s in a place? Post-COVID, we had to adjust to the new normal of hybrid live, work and play where the spaces we once thought were associated with one particular activity has become more blurred, yet the need for private and community spaces within this new construct remains relevant. As the urban landscape evolves, we should explore new concepts and ideas to make developments more mixed-use, more liveable, lovable and sustainable. When we set up the Centre for Liveable Cities (CLC) more than a decade ago where I had the benefit of being its founding director, these were the kind of ideas that excited us then and even more so now. What would you like to see if you had a chance to reinvent where you live, work and play as we plan for tomorrow’s cities? 🤔 #liveablecities #livablecities #placemaking #communitybuilding #mixeduse #urbandevelopment #propertymarket #cityplanning #realestate

As summer creeps in and projects are breaking ground, it's the perfect time to highlight the immense value of mixed-use real estate investing. These developments are transforming the urban landscape, driven by the increasing demand for integrated and sustainable living environments. These innovative projects blend residential, commercial, and sometimes industrial spaces into a cohesive community, promoting the highly desirable live-work-play lifestyle. The COVID-19 pandemic has significantly accelerated this trend, as more people seek neighborhoods that reduce the need for long commutes and provide essential amenities within walking distance. Leading cities like Austin, Texas, and Miami, Florida, are at the forefront of this movement with large-scale mixed-use projects that include everything from residential units to offices, retail spaces, and entertainment venues. These developments not only foster a strong sense of community but also cater to a diverse demographic, appealing to young professionals, families, and retirees alike. Looking towards 2025, the momentum behind mixed-use developments is expected to grow even stronger. Urban planners and developers are increasingly focusing on sustainability and smart city technologies to create more efficient and environmentally friendly communities. This includes the integration of green spaces, energy-efficient buildings, and advanced infrastructure for connectivity and transportation. Additionally, as remote work continues to be a significant factor, the demand for mixed-use developments that offer flexible living and working spaces will likely increase. Investors are particularly drawn to these projects because of their resilience and ability to adapt to changing market conditions. In essence, mixed-use developments are not just a trend but are shaping the future of urban living by creating vibrant, multifaceted communities that meet the evolving needs of modern lifestyles. #MixedUseDevelopment #UrbanRevitalization #SmartCities

HOW TO THINK ABOUT URBAN PLACES The remarkable thing about busy, walkable urban centers is their multitude of layers and interactions. People commuting to work, shopping, visiting cafes, and merchants engaging with customers create a dynamic environment filled with many activities. The variety of activities matters because each individual's task or action is completely intertwined with everyone else's, fostering greater engagement, increased commerce, and heightened attraction, even though they all act independently. This energy drives investment, attracts people, and creates the urban centers that shape thriving cities. https://lnkd.in/gfDQK-_9

10+ years in real estate have shown me the irony of urban development- cities focus on skyscrapers while ignoring the untapped value of public spaces at street level. A recent World Bank report shows that cities are missing out on up to $300 billion in economic growth by not using their public spaces effectively. These spaces make up about one-third of a city's land, offering a huge potential for development. But why do cities struggle to leverage these spaces effectively? 1. Poor urban planning 2. Financial constraints 3. Competing priorities in rapidly growing cities As a result, our public spaces often degrade into congested, polluted areas that drain resources instead of creating value. The irony of urban development is that as we build up, we're ignoring the untapped value at street level. However, some forward-thinking cities are bucking this trend. For example, Copenhagen, which focuses on green public spaces, and Melbourne, known for its innovative urban design, are investing in connected, inclusive public spaces. Having spent over a decade in the real estate industry, I’m amazed at how much potential our public spaces hold—potential that remains largely untapped. Here’s how we can change that: 📌 Build collaborative partnerships where government, businesses, and local communities work together, aligning resources to achieve shared goals. 📌Develop targeted policies that address the specific needs of each area, focusing on practical, sustainable solutions that promote inclusive growth. 📌Establish long-term plans for funding and managing public spaces, ensuring they are well-maintained and continue to benefit the community over time. As someone who's seen the impact of well-planned spaces, I'm excited about the possibilities. Imagine the transformation we could create in our cities by reimagining these public assets! What's your experience with public spaces in your city? Have you seen examples of innovative use? Share in the comments below! #Urbandevelopment #realestate

"There is an optimal real estate product portfolio for WalkUPs to optimize GDP and real estate valuations, which targets 31% living spaces (Live), 42% workplaces (Work) and 26% play spaces (Play)." Fascinating research, and based on some of the most successful walkable urban communities in the US.

Great podcast featuring Rebecca Rockey and Christopher B. Leinberger on the societal benefits of walkable urbanism for revitalizing our community. Because our mobility choices and urban design is not just about getting from "point A to point B"- mobility and public space is far, far more than that. American Planning Association NACTO (National Association of City Transportation Officials) League of Wisconsin Municipalities National League of Cities Capital Area Regional Planning Commission Urban Land Institute

🌆 Reimagining Cities: The 15-Minute City What if everything you needed—work, schools, groceries, healthcare, and leisure—was just 15 minutes away? No long commutes, no endless traffic, just a lifestyle built around accessibility, sustainability, and connection. This is the vision of the 15-minute city, a groundbreaking concept pioneered by urban planner Carlos Moreno. Cities like Paris and Melbourne are already leading the charge, showing how hyper-local urban planning can transform modern life. The Science Behind It: The 15-minute city is built on four key principles: ⿡ Proximity: Essential services within walking or biking distance. ⿢ Diversity: A mix of housing, offices, shops, and green spaces. ⿣ Density: Compact neighborhoods that support walkability and shared infrastructure. ⿤ Equity: Equal access to resources for all residents. Research shows that these changes can: ✅ Reduce carbon footprints by cutting commute times and car dependency. ✅ Improve mental and physical health through active lifestyles and cleaner air. ✅ Foster vibrant, close-knit communities with stronger local engagement. Why It Matters for Businesses The 15-minute city could reshape where and how companies operate. Centralized office spaces might give way to decentralized hubs closer to residential zones, aligning with employees’ preferences for a better work-life balance. 📢 Let’s Discuss: How do you see the 15-minute city impacting your industry or workplace strategy? Would you embrace living or working in one? Drop your thoughts in the comments!