{"id":1004195241,"date":"2017-10-26T13:13:19","date_gmt":"2017-10-26T21:13:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004195241"},"modified":"2022-12-09T01:17:51","modified_gmt":"2022-12-09T09:17:51","slug":"seattle-takes-top-spot-in-uli-pwc-emerging-trends-report","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/seattle-takes-top-spot-in-uli-pwc-emerging-trends-report\/","title":{"rendered":"Seattle Takes Top Spot in ULI-PwC Emerging Trends Report"},"content":{"rendered":"

By Samantha Goldberg<\/p>\n

\"Emerging<\/a>

Emerging Trends in Real Estate panel: Kate Bicknell, Forest City; Mitch Roschelle, PwC; Mary Ludgin, Heitman; and Christopher Ward, AECOM<\/p><\/div>\n

While many think of the “top cities” as the major gateway markets, smaller, secondary markets\u00a0are emerging as the next hot metros, according to the\u00a0ULI and PwC Emerging Trends in Real Estate 2018 report, revealed this year at the 2017 ULI Fall Meeting. Seattle took the top spot, due to its job opportunities, young and educated workforce, and diverse economy. Austin moved to the No. 2 spot,\u00a0followed by\u00a0Salt Lake City, which made its debut in the top 10. Manhattan had the largest drop in the rankings, moving to No. 46, with many survey participants noting the high prices of assets and the over-saturation of construction activity in the market.\u00a0<\/p>\n

The full top 10 includes: Seattle,\u00a0Austin, Salt Lake City, Raleigh\/Durham, Dallas\/Ft. Worth, Fort Lauderdale, Los Angeles, San Jose, Nashville and Boston.<\/p>\n

\u201cThe trend of smaller markets displacing larger ones as investment hubs is setting a new course for urban development that is reshaping cities across the nation,\u201d<\/em> said ULI Global CEO Patrick L. Phillips. \u201cThese cities are positioning themselves as highly competitive, in terms of livability, employment offerings, and recreational and cultural amenities.\u201d\u00a0<\/em><\/p>\n

\"The<\/a>

The Top 10 Cities in the Emerging Trends in Real Estate 2018 report<\/p><\/div>\n

At a panel discussion about the report, AECOM Executive Vice President & Chief Executive Christopher Ward added that secondary cities are especially appealing to the younger generation.\u00a0<\/p>\n

“Mature markets like New York City and LA are simply too competitive\u00a0to find the right housing, to find transportation solutions, to find the quality of life you can balance so the secondary markets are going to continue to see growth in the next five to seven years,”\u00a0<\/em>he said.\u00a0<\/p>\n

He noted however, that these smaller cities topping the report’s list, like Salt Lake City, need to adapt as they capture more growth. “They’re still going to need the financial capacity to build the quality\u00a0of life cities have to provide, otherwise they fail as cities.”<\/em><\/p>\n

Top Trends<\/h2>\n

Panelists also debated some of the emerging trends identified in the report, including:<\/p>\n