Trends 2022 Real Estate Forecast: Local Panelist Announced
Revitalizing and Rebuilding for a Resilient Future
On December 8, 2021, ULI Pittsburgh hosted an in-person Trends in Real Estate breakfast event at The Rivers Club. The event, which focused on Revitalizing and Rebuilding for a Resilient City, was attended by more than 110 real estate professionals. The discussion of trends in the local, regional, and national real estate market, challenges and successes that the industry is experiencing, and where it is heading was initiated by keynote speaker Andy Warren, Director of Real Estate Research for PricewaterhouseCoopers, who provided an overview of ULI’s 2022 Emerging Trends in Real Estate® which he co-authored
Some highlights from the report include:
Following Warren’s presentation, Beth Eckenrode, moderator, and co-founder of the AUROS Group introduced Zaheen Hussain and Anna Zetkulic of the Rocky Mountain Institute who provided a video presentation that addressed strategies for providing attainable housing in well-served urban environments and the benefits of urban housing in terms of transportation emissions, equity outcomes, and climate resilience.
The final panelist, Mark Anthony Thomas, president of the Pittsburgh Regional Alliance, discussed opportunities for the region and predicted a post-pandemic recovery for downtown, but noted, “It won’t recover the way it was”. Lynn R. DeLorenzo, Principal of TARQUINCoRE, LLC, led a discussion with attendees, during which Jeremy Waldrup, executive director of the Pittsburgh Downtown Partnership agreed with Thomas and believes there is an opportunity to expand residential development in the CBD. Waldrup cited the progress and success of downtown Pittsburgh adding more residential to the urban core, many through the conversion of office buildings and noting a 37% increase in the number of residential units downtown in recent years. He believes there is an opportunity to expand the downtown population from 6,000 to 8,000 in the next couple of years.
The presentation concluded with a lively discussion from the engaged audience of real estate professionals.