TOP FIVE REAL ESTATE AND DEVELOPMENT TRENDS

Giffels-Webster Engineers, a civil engineering firm with a 50-year industry reputation for its vision for today’s market and beyond, revealed today its list of Top Five Real Estate and Development Trends. According to GWE, the hottest market growth areas are:

• Green building and design
• Assisted living centers
• Hospital expansions, education campus additions
• Mixed-use developments
• Urban revitalization and streetscape improvements

“Although real estate as a whole continues to struggle, developers, civil engineers and architects can remain healthy by working diligently and creatively to stay on top of new market drivers,” said Keith Mayer, president and CEO of Giffels-Webster Engineers. “Our team at Giffels-Webster has identified the trends that prove opportunities thrive beyond single-family homes in the suburbs.”

Green Building and Design – Increased pressure on communities and businesses to promote more environmentally sound designs has led developers to incorporate more green elements into their projects.  A plan to develop a parcel of land for retail might include green roofs, rain gardens, or gutter water retention and irrigation systems. LEED-certified environmental experts soon will become “must-have” team members as the demand for energy efficient, healthy spaces grows stronger.

Assisted Living Centers – Assisted living developments are on the rise due to higher life expectancies and the influx of aging baby boomers.  By helping seniors lead independent lives in non-institutionalized environments, these projects are designed to incorporate nature trails, community dining areas, exercise facilities, music rooms, libraries, salons, and billiard game rooms. Opportunities exist to work with both private developers and public government-funded projects.

Hospital Expansions, Education Campus Additions – The hospital and education expansion trend is fueled by institutional projects being funded privately though corporate gifts and individual endowments. These “recession-proof” resources mean these projects go on even during economic downturns. While single-family home building has slowed, this market segment moves forward with plentiful building and capital improvement projects. 

Mixed-Use Developments – Quite simply, mixed-use developments are growing popular today because they reduce risk for the developer during an uncertain economy. Retail and residential can adjoin each other, and it’s common to see large, national retailers combined with smaller, boutique-type stores, as well as housing varying by size, budget and amenities. With this approach, the developer’s investment is spread across the spectrum so that it remains viable even if one segment does not perform as expected.

Urban Revitalization – In an effort to attract and keep people in their communities, municipalities and townships are working to make their downtowns, retail hubs and central business districts more inviting and accessible to pedestrians. Streetscape improvements, including attractive landscaping, decorative streetlights, brick sidewalk pavers, and strategically planned parking areas, are examples of how municipalities are proactively transforming their space to appeal to potential and current residents.

Giffels-Webster Engineers is a Michigan-based civil engineering and surveying firm serving public, private and institutional clients throughout the United States with their infrastructure needs for more than 50 years. The firm brings its unique perspective of serving the private and public sectors with a vision of the future to deploy balanced services that result in accurate civil engineering and surveying solutions of enduring value and function.