Tuesday, Nov. 6, 2018 – At a sold out event of 250 attendees, a presentation by Andy Warren, Director of Real Estate Research with PWC, highlighted the findings in the 2019 Emerging Trends in Real Estate® Report.  In researching the sentiment of the market, the words most used to describe the expectations for the 2019 real estate market were:

• Plateau
• Competitive
• Cautious
• Evolving
• Overheated

The report noted Charlotte as strong, ranking #9 in U.S. markets to watch for overall real estate prospects.  Raleigh-Durham ranked high #3.  It was noteworthy that of the top 10 markets, only one is a gateway city, and a majority were in low tax burden states.  “Charlotte continues to exceed the national growth rate,” said Warren.  The industry is intensifying and transforming.  Click here for a copy of the PowerPoint.

Following the national report, a panel of local members shared their insights on the theme “new era demands new thinking.”  Moderated by Tracy Dodson, City of Charlotte, the panel included Amy Aussieker, Envision Charlotte; Todd Williams, Grubb Properties; Tony Kuhn, Flywheel Group; and Erik Johnson, White Point Partners.  Panelists agreed there needs to be a long-term commitment to new and innovative development.  One of the questions asked of the panel was “what technology is changing real estate?” Each agreed it was mobility and parking.  Some of the points included:

• Scooters and E-Bikes will force cities to be quicker and more innovative to adapt
• How do we Copenhagenize? Can we take our city from almost all vehicle-based to multimodal?  This would reduce parking needs and the costs of maintaining a car.
• Parking is now market driven.  By adding alternative modes, we can reduce parking requirements.  Connect to the Rail Trail, add B-cycle and scooter parking to projects.
• The last mile – need to plan and adapt to it over time.  Create places that don’t need a car.

Creating synergies in uses, utilizing shared parking, phasing developments for reuse of parking, as requirements reduce, were all highlighted.