More than 6,000 developers, real estate investors, architects, planners, attorneys and others from the metro area, throughout the U.S. and around the world are attending the Urban Land Institute’s 75th anniversary convention in Denver.
The event, whose theme is “What’s Next” ends Friday and focuses on larger issues of economic and political consequences, including global finance, innovation, green and sustainable development and, of course, potential impacts of the Presidential election in November.
ULI, at the conference, released its Emerging Trends report, which for more than 30 years has been tracking and rating investment opportunities in cities in the U.S., as well as internationally.
The report is researched and written by ULI and PwC, formerly known as PricewaterhouseCoopers.
Overall, in the Emerging Trend’s “U.S. Market’s to Watch,” which rates 51 metro areas by three metrics – investment, development and homebuilding – Denver ranked No. 14. San Francisco was No. 1 in all three categories.
Denver ranked eighth for investments, 14 for developments and 15th for homebuilding.
The report notes that in the Denver area, only 4 percent of the homes are in foreclosure and 2.5 percent of the mortgages on homes are 90-plus days delinquent.
“Denver wasn’t directly in the crosshairs of the housing downturn,” one local expert commented. More than 900 real estate investors, developers, and officials from real estate service firms, investment firms, banks and securitized lending firms, publicly traded companies, homebuilders and land developers are interviewed for the report. Individuals making comments are not identified.
“Denver’s economy has remained healthy, maintaining the ability to absorb a diverse employment base,” according to the report. “A big benefit for Denver is its educated workforce, which is concentrated in growing industries such as high technology and energy.”
One local investor said, “Denver is attracting attention with energy industries.”
From an investment perspective, “Denver has strong growth potential,” one expert said.
Geography is one of Denver’s strengths.
“An attraction is the city’s central location in the country’s southern and western regions, as well as Denver’s ever-expanding international airport, which offers access to national and global destinations. With growing sophistication, Denver offers (a) good quality of living.”
Denver also ranked in the top 10 of four commercial real estate sectors.
It was No. 7 for offices; No 8 for retail; and No. 9 for both hotels and industrial.
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I will check the exhibits out Thursday, since I will be downtown anyway, if they will let me in. The website for the Convention isn’t helpful on the subject. It gives information on registering for the meetings ($2,500 for non-members, my level of interest isn’t even a fraction of that lol), but it gives no information of the ticket price for the exhibits, or even if they are accessible to non members.
Great write-up post by the blogger and here is some useful information posted by the blogger.
went to the exhibition today. They would neither sell or give me a ticket to the exhibition (I made it clear I had no interest in attending the meetings or becoming a member).