Category Archives: Multifamily Real Estate

Michigan Markets Commercial Real Estate News Brief: June 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Michigan markets to keep you in-the-know.

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District Detroit Welcomes Residential Development Boom

District Detroit, the city’s major upcoming entertainment development, has announced plans for the city’s largest residential development in more than 20 years. The upcoming project will include the renovation of historic buildings as well as new construction.

Among buildings being redeveloped for multifamily housing, are:… Read More

Ohio Markets Commercial Real Estate News Brief: June 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Ohio markets to keep you in-the-know.

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Cleveland and Columbus Grow with New Multifamily Developments

Both Cleveland and Columbus are gaining national attention for their accelerated growth. Both cities are experiencing upticks in their downtown and metro populations. Columbus was recently ranked the 14th largest city in the U.S. while Cleveland saw a 76% increase in residents between the ages of 25-34 since 2000.

The population increases have contributed to the increased multifamily development in each city’s metro area. A new apartment development along the Scioto River was recently announced in Columbus. Similarly, the city of Cleveland has a number of multifamily projects in the works, including a 34-story tower in Playhouse Square and a $50 million development for Ohio City’s One Twenty West apartments.… Read More

Commercial Real Estate News Brief: April 2017

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights multifamily demand, the growth in e-commerce and the impact of home rentals on the hospitality industry.

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Rising Downtown Populations Spur Need for More Multifamily Development

More millennials, members of Generation X, and even baby boomers moving downtown have created an uptick in demand for multifamily development. Detroit, for instance, happens to be one market whose multifamily sector has taken off with 1,551 units added in just the last five years.

According to a data from the U.S. Census Bureau, 52 out of America’s 100 largest cities were in the renter majority in 2015. This trend is expected to continue even as millennials begin families. Baby boomers who are looking to downsize from their larger, multi-bedroom homes will cause the overall percentage of renters to keep increasing.

Related Read: JLL Research: 3 Ways Reurbanization is Revitalizing Midwest Markets

Because Midwest cities like Cincinnati, Detroit and Columbus are experiencing positive population growth, business retention and investment follow closely behind. Cities will soon need to strategize how to equip infrastructure and public spaces to accommodate the growing downtown populations.… Read More

JLL Research: 3 Ways Reurbanization is Revitalizing Midwest Markets

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By: Andrew Batson, Director of Research, JLL

JLL Full Circle

While cities spread throughout the Heartland are still making their comeback, the economic and investment outlook is promising according to our new research, Full Circle. The report takes a deep dive into the growth and development occurring in each of our markets, including Ann Arbor, Cincinnati, Cleveland, Columbus, Detroit, Grand Rapids, Louisville and Pittsburgh.

So, what did our research find?

Cities across the region are in the middle of a major renaissance as reurbanization continues to draw people, business and investments toward the downtown areas.

1. Young Professionals Gravitate Toward the Urban Core, Creating Need for More Multifamily Development

The face of the urban cores is changing, with the majority of each market’s downtown population made up of the millennial generation (20- to 36-year-olds), followed by generation Z (0- to 19-year-olds).

As these younger generations flock downtown, the need for more multifamily development is increasing. Each market has experienced positive population growth since 2000. What’s more is residential population has also posted impressive numbers in each market, most notably in Detroit with a downtown population of 37,700 followed by downtown Pittsburgh with 33,000.… Read More

Commercial Real Estate News Brief: October 2014

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Commercial real estate is a dynamic industry. Keep up with Spaces’ monthly recaps of the most valuable industry articles we’ve recently come across, focused on news in Ohio, Michigan and Pennsylvania.  

The Link Between Wellbeing and Green Office Design (REPORT) 

JLL CRE News BriefGreen, energy-efficient office space is more than a trend. In fact, research has shown that certain office design features can have great impact on employee health, happiness and productivity. A few of these features include thermal comfort, noise and acoustics, lighting, look and feel, and location.

Are you updating your space, or going green? Below are common office features that limit productivity and workplace satisfaction, reported by Fast Company.

  • Extreme office temperatures (either too hot or too cold);
  • Using more electric lighting than natural lighting;
  • Lack of exposure to plants and nature; and
  • Closed, non-collaborative workspaces.

For more information about the benefits of environmentally friendly office spaces, download JLL’s full report, compiled in partnership with the World Green Building Council: Health, wellbeing and productivity in offices: The next chapter for green building. Read More

Keeping Pace with Millennial Impact on CRE Demand

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By: JC Pelusi, Great Lakes Market Director, JLL

Below is an excerpt from an article that was originally published by Heartland Real Estate Business (www.REBusinessOnline.com), reposted to this blog with permission from the Editor. Visit the full article for a more detailed look at how millennials are shaping  commercial real estate demand.

Downtown ClevelandIt’s no secret… Read More