World Business Chicago’s Post

⚡ ⚡As CREW New York Programs Chair, I just got off a speaker's prep call with Sam Chandan and Annemarie Germano DiCola and am even more excited for our upcoming CREW New York luncheon, "Navigating the Headwinds to the Economy and Commercial Real Estate," on February 6, 2024. ⚡⚡ Sam and Annemarie will be covering five critical topics on how we adapt and navigate the changes in a new economy: ✔ Mortgage Maturities - Especially Office: Delving into the looming deadlines and their implications for the office sector. ✔Interest Rates: Understanding the current trends and forecasting their impact on real estate. ✔Lending Activity: Analyzing the shifts in lending patterns and what they mean for investors and developers. ✔New Dynamics in Multifamily & Retail: Exploring the evolving landscapes of multifamily housing and retail spaces. ✔Finding Opportunity in the Change: Identifying and leveraging opportunities in this shifting economic environment. This luncheon will explore these critical issues, offering valuable perspectives for navigating today's complex real estate market. Take advantage of this opportunity to gain from our distinguished speakers' expertise and network with fellow industry professionals. Date: February 6, 2024 Time: 11:30 AM to 1:00 PM Location: Club 101, 101 Park Avenue @ 39th Street Register now to secure your spot: https://bit.ly/3SAa7Nx I am looking forward to seeing you there and diving into these discussions together! Trepp, Inc. NYU Stern School of Business CREW Network #CREWNY #RealEstate #EconomicInsights #NetworkingEvent #CommercialRealEstate #cre

Chicago

Chicago

This morning, I had the pleasure of attending ULI New York's 2024 Annual Economic Forecast with my Karp Strategies colleagues, Annie White and Anthony Fabre. Thanks to featured speakers Rebecca Rockey, Cushman & Wakefield’s Global Head of Economic Analysis & Forecasting, and Marc Norman, Associate Dean of NYU Schack Institute of Real Estate, for a compelling presentation and discussion about the outlook of the commercial real estate industry. As expected, the forecast was sobering, but there are still reasons to be optimistic. First, New York has done this before. After 9/11, many thought Lower Manhattan would never rebound. It did, and then some, and was reborn into a 24-7 community - a neighborhood Karp Strategies is proud to call home! Given this experience, New York can show the world how it’s done by once again leveraging public policy and planning to address the glut of office space in its business districts. Second, the urban “doom loop” is likely overblown because New York is less dependent on revenue from commercial real estate taxes. Only 27% of the city’s total revenue comes from commercial real estate taxes, less than other cities like Houston, DC, Austin, Atlanta, Dallas, and Boston. There’s a chance for a bumpy landing and long recovery, but today’s excellent event shows there’s reason to be bullish about New York! #ULINewYork #2024outlook #realestate

Chicago

Where is your city at? I see the transformation happening in MKE. From the article, "Our cities will be better served by embracing the transition to a world that is less centered around offices. That will require diversifying their economic base, streamlining the construction and conversion of new housing and mixed-use neighborhoods, enhancing public services, and doubling down on what makes urban life attractive in its own right—not just as an employment destination. And the effort must start with the recognition that, in good times and bad, the relationship between economic activity and office demand has changed forever."

On October 1, the consolidated City of Jacksonville turned 55. With that milestone anniversary of the historic merger of Jacksonville and Duval County, I have launched a new Medium column: 55 at 55. Over the next year, I will share 55 insights, observations, recommendations, and thoughts about our local government and community. The first five are below and I’ll publish more in the coming months. Thanks for reading and for your suggestions on #Jacksonville topics you would like to see covered! #cities #counties #localgovernment

It's taken a few months, but I have my newest deep dive history of downtown Gainesville, part two of a three-part history. The 1980's were the first steps in revitalization. By focusing on designing for people and investing in the arts we created the sparks that would make downtown a lively city center by the early 2000's. How we funded that and how these decisions made downtown what it is today was what I focused on. Give it a read and let me know what you think: https://lnkd.in/gdCwxspF

Wednesday is definitely “future of real estate” day! While this panel is discussing the urban impact, Middlesex 3 Coalition will be discussing the suburban real estate outlook. I attend events like this because real estate connects to every aspect of economic development and community strength. Empty storefronts and office buildings depress overall activity in their neighborhoods, while repurposing space and thinking outside the box about uses revitalizes them. #economicdevelopment #futureofrealestate

>> Look forward to being part of the Public Realm Roundtable from June 13-16 in NYC << In addition to an inspiring program, it is a special opportunity to meet the people who are involved in making a city like NYC more livable. Working on the complex challenges of gradually transforming the world city - while it never sleeps ;-) The city of NY plans to invest $375 million to create and enhance public spaces, ensuring high-quality environments for social, economic, and cultural activities >> Key projects - Broadway Vision Plan will transforming Broadway into a more pedestrian-friendly avenue. - Permanent upgrades to open streets in the Bronx and Staten Island that will solidify the success of temporary open streets and contribute to safer and more attractive neighborhoods - Building on the popular temporary Open Restaurants program, a new permanent outdoor dining initiative will be spearheaded to support local businesses and enhance street life. - Reclamation of Spaces under the Brooklyn Bridge will transform previously closed areas into vibrant public zones. More information about the program - https://lnkd.in/eWECmAyy Any questions or suggestions to bring from Europe to the US?