ULI Carolina Trends 2020September 3, 2020 10:05 am
ULI Carolinas Conference is about highlighting the latest in real estate develop trends and happens every year in a different city. This year it was focused on Asheville. Our audience is composed of builders, developers, banker, lawyers, architects, planners, public service and brokerages all based in our region.
This years trends highlighted new trends and opportunities with product type by ownership, market positioning opportunities, affordable housing and the potential in Asheville economic development pipeline. Here are more details
- SFH for Rent – purposely build communities for rent have strong demand forecast for the next 10 years according to Adam Drucker AT RCLCO. rentership is rising nationally. Double the demand of the previous decade forecasted for the next decade. Families are one of the primary renters of sfh. Millennial families will also drive growth.
- Outdoor Living Access – having multiple access points to outdoor living spaces are in more demand.
- RAD Greenway – 4 more miles of greenway in Asheville’s River Arts District have been approved and budgeted to begin construction next year. Safety is being addressed with 24/7 lighting, public direct access phones, activity nodes to detract from long stretches without eyes on it.
- Tribute Properties is a case study for success in Asheville affordable housing opportunities. One out of every 20-25 opportunities closes with the cities affordable housing investment opportunities.
- ULI strategic recommendations for the City of Asheville and Hotels – continue leveraging tourism market opportunity, strengthen strategic partnerships and create more predictability in the hotel development process. Asheville’s hotel occupancy is on par with regional competitors at 55% and continues to recover. Unemployment initial claims dropped to 1/5 of where it was and that’s a leading indicator for future total unemployment claims. $1.1 Billion capital investment opportunity and 4,800 jobs as of August 2020. Very proud of our EDC team!
At Element-360 we often use these insights to drive the strategic direction of our digital marketing campaigns. We also find our own experiences verified by others such as the interest for multiple access points to outdoor living being in demand. We were very please with the conference this year and look forward to hosting everyone in person next time.