Real Estate Leadership Group 6-26-20

On June 26th, we had another installment of our Real Estate Group, where leading developers, architects, technology companies, and others talk about the future of real estate, architecture, urban planning, and technology.

Three top developers and architects – The Related Companies, Gensler, and Perkins&Will, presented ideas and projects that are transforming the meaning of community. They focused on how we can enhance, repurpose, and bring to life to communities and the people who live there.

Rick Vogel from The Related Companies discussed how large urban projects regenerate and bring vitality back to a community. By repurposing space into valuable development, real estate, Related can introduce tourism, business, and culture to a city.  Vogel presented a massive, urban, mixed-use project The Related Companies is developing in California, which offers retail, multifamily, and hotel space. This property, located across from a world-renowned concert venue, has been constructed to exhibit a walkable, open-air market feel. It makes what might typically be a large walled off skyscraper inviting and inclusive for the community.

Following Vogel, Gensler representative Nate Cherry discussed the company’s focus on the transformation of retail malls into campuses. These campuses are designed to offer numerous amenities in an effort to boost the economy in the region. These flexible assets support open-air malls, entertainment space, lifestyle space, medical space, and tech space; they can transform previously unutilized areas into a complete community that offers more to its residents.

Martin Leitner of Perkins&Will discussed the concept of blurred use neighborhoods. An especially timely concept, blurred use neighborhoods recognize the increased demand for business space within residential areas. With an increasing amount of individuals preferring to work from home (or simply closer to home), demand continues to rise with it. Leither offered ideas to inject business into residential spaces, including repurposing old retail spaces into coworking spaces, developing work/live buildings, and offering satellite offices within a given neighborhood. These examples offer less commute time and help to stimulate the local economy.

The next Real Estate Leadership Group meeting with take place on July 17th and will focus on “Mobility Enabling Real Estate Value.” Fedra Ribeiro, Senior Vice President Sales for Bosch Connected Mobility Solutions, will be leading the discussion. Ribeiro was recently named one of Top 20 of 2020 Influential Women in Mobility by Vulog. The presentation will focus on four pillars of value that mobility solutions can offer to commercial real estate. The four pillars are:

·  Reduce Capex

·  Cap Rate Compression – attract the best tenants and generate higher occupancy rates,

·  Increase Net Operating Income (NOI)

·  Adaptive/Proactive Reuse

These bi-weekly meetings continue to be a great source of collaboration and knowledge sharing. We hope they will influence the design of communities to fit those who live there, and shape them into something useful and beautiful. If you have any questions, comments, or would like a copy of the meeting recording, please reach out to Alison at akaramon@northwesterncaptial.net

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Phone: (312) 945-8004 | Email: info@northwesterncapital.net