Regional Growth and Restructuring Suburban Development Stephen B. Friedman, AICP, CRE May, 2009
Vision | Economics | Strategy | Finance | Implementat...
Overview Part 1. Regional Growth and Real Estate Products in the Next Cycle Part 2. The Suburban Greenfield Challenge: How to Structure Regional Growth?
What Are the Prospects? Current “crisis” Long-term Growth: Northeast IL Growing Since 1988
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2000 to 2006: All but Cook 2005 to 2030: ` `
Winnebago & Boone: 75,000 People Chicago Area: 1,700,000 People
After the Fall…Continued Opportunity: Demography Drives Demand! How Much Infill? How Much Greenfield? “Smart Growth” and Sustainability Require Doing the Suburbs Right!
Immigration and Population Growth Immigration Growth as Percent of U.S. Population Growth ((Thousands of People) p ) 20,000 15 000 15,000 10,000 5,000 35%
34%
1997-2002
2002-2007
Growth Due to Immigration Growth Due to Other Factors 7
Predictable Results Schools Built, Closed, Re-opened Rental Housing Boom in 1980s Cities Rediscovered Condo Boom/Rental Bust Suburban Town Centers Alive Senior Housing Demand Gen Y Drives the Next Wave