Kathleen Carey, President & CEO of the ULI Foundation, presented ULI and PwC’s joint 2017 Emerging Trends in Real Estate® report to a full house at the Durham Convention Center in Downtown Durham on November 17. The Triangle climbed to #7 on the report’s Markets to Watch list, besting a host of other growing cities and urban areas across the U.S.—including Charlotte.
“The Raleigh/Durham market in North Carolina ticks a lot of the boxes for real estate success: affordable living and business costs, a concentration of research universities and colleges, home of the state capital, and a moderate climate. These features continue to draw interest from the real estate investment world. The combination of these features makes Raleigh/Durham a strong example of an 18-hour market.”
The Trends presentation was followed by two panel conversations. Michael Landguth, President & CEO of the Raleigh-Durham Airport Authority, and Dwight Bassett, Economic Development Officer for the Town of Chapel Hill, discussed the RDU Vision 2040 plan and the airport’s successful use of public private partnerships. Stockton Williams, Executive Director of the ULI Terwilliger Center for Housing and Wayne Maiorano, Partner at Smith Anderson, took a closer look at trends in the Triangle’s market rate, workforce and subsidized housing markets.
Following the program, over a third of attendees stayed for an additional breakout session to continue deeper conversations on Triangle housing trends, identifying specific issues and opportunities around housing availability, affordability, regulations, and partnerships.