On October 18, 2018, we held the ULI Fall Meeting Rewind.  A special thank you to our panelists:  John Porter, Charter Properties and Darryl Dewberry, Spectrum Companies, moderated by Debra Campbell, City of Charlotte.  Also, we want to recognize our table discuss leaders (and some informal leaders that pitched in too):  Tyler Neiss, Red Propeller; Ryan Carter, Narmour; Elizabeth McMillian, Crescent Communities; Brooke Iosue, Humphreys; Lindsey McAlpine, CitySculpt; Alan Simonini, Alan Simonini Homes, and Dave Stewart, NorthMarq.

Below are some items shared during the from the discussion:

Capital Markets – Cap rates aren’t rising – and buyers are not blinking; think about a downturn in a few years – look carefully at your capital stack; Construction costs have moved from cost-based pricing to market-based pricing; Tech disruption in real estate – there were 3000 real estate tech startups over the last year

Affordable Housing – May need to sacrifice design for affordability; NOAH – less risky investment; Can we consider incentivizing sellers to go into affordable housing use; the price of rent in Boston affordable housing is 30% of salary not based on an AMI; non-profit developers are driving development

Charlotte – In-migrants are more educated, earn more money and older than out-migrants.  North Carolina is still considered affordable

Diversity – We have the opportunity, but we have a long way to go

Trends – Master planned communities with rental homes

Mobility – with fewer cars, will we need garage/driveways.  How is homebuilding changing? 

Retail Trends – Needs to add value by driving people to the site with creative placemaking; Driving people to “spend money where they spend time”.

Logistics – How retail and industrial are merging; take adaptive reuse of large boxes