ED Now

Communities, developers, and real estate asset managers will continue to need to reimagine and reinvent shopping malls into mixed-use redevelopments. The availability of large amounts of land, building space, parking capacity, and typically superior access to roadway connections, provides the physical resources to transform malls from predominantly single-use spaces to a dramatically more varied mix of uses.

Aaron N. Gruen of Gruen Gruen + Associates—an urban economics, market research, housing and land use policy, and pre-development services firm—shares his annual economic and real estate outlook with ED Now.

Despite the ubiquity of grocery and meal delivery apps, broadband, digital literacy, and high cost remain barriers to food access for many communities. Widespread food insecurity continues to plague communities across the United States. In 2020, 38.3 million people lacked sufficient access to healthy food, a disproportionate number of whom identify as people of color, fall below the poverty line, and/or live in rural areas. During the same time, the pandemic and e-commerce transformed the food landscape with a proliferation of web- and app-based delivery services that redefine the meaning of food access. Since one can now purchase fresh produce, prepared meals, and other essentials without visiting a brick-and-mortar grocery store, ...

IEDC recently held a webinar titled “Truth, Myth, and Mystery: Making Sense of Real Estate Today” based on the latest report from the Economic Development Research Partners (EDRP). The speakers discussed the latest trends in real estate for economic developers to know from multiple perspectives. Economic developers risk irrelevance in industrial real estate unless they keep up with the best practices in site marketing and preparation, according to Courtney Dunbar, CEcD, EDFP, AICP, director of site selection at Burns & McDonnell. Dunbar explained the importance of preparing and organizing due diligence material for potential buyers so they can quickly assess the suitability of the site. Clear labeling of key components of ...

As the pandemic enters its third year, white-collar work has changed, with some workers looking to remain remote full-time while others are itching to get back to the office. The pandemic has shown that the hybrid work model and the option to work remotely are here to stay. According to Forbes, at the height of the pandemic half of the workforce was working remotely, and currently around 15 to 18 percent of those workers plan to work from home permanently. What this has created is a surplus of available commercial office space as companies change their work landscape. From early 2020 to summer 2021, vacancies in high-end office buildings climbed from 13 percent to 17 percent; this rate is expected to surpass 20 percent this year. Rents ...

The past year has brought with it many uncertainties, but according to Michael Berne of MJB Consulting, one truth to hold onto is that downtowns and brick-and-mortar retail are not dead but here to stay. Right now, less than 10 percent of all e-commerce is retail-related, which can be attributed to the high costs associated with online retail as well as a finite amount of consumer demand for these products. While internet shopping can provide a more convenient alternative to shopping malls, downtown shopping areas remain a source of innovation and creativity which sites like Amazon and others are not able to match. An important aspect of downtown shopping areas is their ability to house Central Social Functions (CSFs), which facilitate ...

Ohio University’s Innovation Center has focused its efforts over the past year on helping local entrepreneurs navigate the COVID-19 pandemic and response. The business incubator has remained open to support its on-site essential businesses and is maintaining safe operations by closely monitoring and following CDC guidelines to ensure it provides a working environment that limits clients’ risk. The center’s staff has rearranged offices, worked in a hybrid/remote capacity when possible, and implemented stringent cleaning protocols. The center is also providing virtual business development support to current clients, as well as additive manufacturing design and product development assistance. “The Innovation ...

Waynesboro (Va.) Economic Development moved from ‘recovery’ to ‘renaissance’ as quickly as possible. Working with partners and grants, we have been able to: provide technical assistance for entrepreneurs via three programs; Small Business Resiliency Team is designed for growth-oriented existing businesses in the areas of tourism, retail, professional services, and healthcare, with programs in marketing, finance, and e-commerce. Startup Shenandoah Valley lets entrepreneurs take their business to the next level. Designed for businesses at any level—from building the product to refining and scaling the business model—entrepreneurs learn to address the riskiest parts of their business model with ...