Breaking News from our friends at Places Platform, LLC “Announcing the publication of Reimagining Cities, an in-depth research report that puts 15 U.S. cities under the microscope to identify the real estate portfolios cities currently have versus what they need to flourish into the future.
Places Platform is proud to partner with Cushman and Wakefield to leverage our proprietary tools and place-based analytics that provide the essential context to solve the complex real estate challenges that are addressed in this critical “call to action.”
Valuable Insights for Optimizing City Real Estate Portfolios
In Cushman Wakefield’s introduction to the report: “the American city has dealt with its fair share of challenges—with the recent pandemic causing the most significant economic and social disruption in decades. Working in partnership with Places Platform, LLC, we are excited to introduce a first-of-its-kind study, “Reimagining Cities: Disrupting the Urban Doom Loop“, aimed at providing innovative strategies that not only confront these challenges head-on, but also offer a blueprint for reimaging cities and optimizing city real estate portfolios. Ultimately, optimizing the real estate mix to maximize foot traffic, real estate value and economic output ensures cities thrive and provides dividends to all stakeholders: real estate investors, businesses, policy makers and the general public.
Most studies on the urban doom loop have focused on the problem rather than the solution. But our approach involves an analysis of real estate product portfolios across 15 key U.S. cities, with a special focus on regionally significant, walkable urban areas, called WalkUPs.”
To achieve the optimal portfolio balance, cities should focus first on some of the following KEY FINDINGS:
- Reduce Work, particularly in Downtowns
- Build more Live, particularly in Downtowns
- Increase the ratio of for-sale versus for-rent living spaces in all WalkUPs
- Increase Play in all WalkUPs by adding more cultural, entertainment, professional sports, hotel, local and destination retail, and other Play spaces.
- Cities should facilitate this balance by implementing policies such as expediting the entitlement process and offering incentives for adaptive reuse, particularly to encourage the conversion of over-supplied office space to Live and Play spaces.
For the premium version of the 95 page full report in magazine format, CLICK HERE
For the Business Wire press release, CLICK HERE
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