Takeaways from #ULINYC: The Changing World

The Urban Land Institute Fall Meeting is designed to bring together 6000 of the real estate industry's best to discuss leading trends in creating thriving communities around the world. The best way to frame the meeting comes from Vincent Stanley from Patagonia, who was one of the main speakers opening up the conference:

How do we exercise our talents and creativity in a way that also allows the health of communities and natural systems to thrive?

The world is changing, he conveyed. It's an awareness that comes gradually, but we all can decide to make small changes. So over the next four days, thousands of people lined the halls of the convention center and boutique rooms around NYC discussing trends, lessons learned and new ideas in creating great places.

Gen Y's Perception of Home - Connections

A big topic through the week was Gen Y's perception of home. A few years ago, "experts" warned that this group of young adults would not look for homes in the suburbs and desired more urban living; however, data illustrates that millennials are purchasing homes, but for different reasons than their parents.

Colleen Sharp, from the Futures Company, shared that Gen Y cares about Authenticity, Authorship and Autonomy. Thus, the home becomes a place of satisfaction and experiences.

Having spoke on a panel this past week with two others from Gen Y, the common theme between us was the idea of Connections - Connection in relationships, connection with the environment in which we live and connection with purpose. To successfully reach this market, reflect on how your product and marketing efforts address the importance of connection.

An Expanded View of Community

The idea of community has evolved from gated neighborhoods and separate land uses to highly integrated developments with diversity of uses, demographics, and activities. This has been a bustling trend as Gen Y came into adulthood and desired experiences over consumption. We have seen cities and developers respond by creating denser, more diverse projects (and not just in the city center). We have seen a higher demand for intergenerational communities (see the recent ULI Residential Futures II Report). And lastly, we are seeing work intersect with community differently.

Collaboration & Partnership

Developing great places requires a collaboration among the private and public sector. The successful projects depend on the input and collaboration from the community, while successful cities are working closely with developers to rebuild thriving neighborhoods and economies. While some feel this is the result of the sluggish economy, others expressed that this is the new reality that the market is demanding.

Overall, the fall meeting delivered on its promise of thought-provoking conversation, new ideas, and trends to consider. If you joined us, what was your key takeaway?

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I am a Community Developer passionate about sharing ideas, examples and stories around creating great places. I love to write about big ideas, sustainability and occasionally indulge myself and write about something philosophical. I love to connect with like-minded people who are making a difference in the world.

Feel free to email me at: [email protected]