A recent report by the Urban Land Institute and PricewaterhouseCoopers projects that most development sectors will not recover until 2012 or even 2013. The office, industrial, retail, and hotel sectors will all fare poorly, according to the study, which was released November 5 during the ULI’s annual conference in San Francisco.
But the report offered hope to some. It said that niche sectors including medical, senior housing, and student residences could buck the otherwise dire trend, and apartment development could resume by late 2011. The report adds that urban infill and transit-oriented projects will be the first to break ground once the upturn arrives.