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The 15-Minute City concept gains tracking.

The 15-Minute City Concept Gains Traction

The-15-Minute City concept is gaining traction around the world as a placemaking tactic and means to enhance quality of life.   Although “city” is used in this coined term, this planning concept is more about a focus on livable neighborhoods and districts.

 

The “15-minute city” is a term for urban design and master planning wherein it is possible to meet the basic “needs of living” within a 15-minute walk or bike ride from a person’s home.  The needs of living include such services and amenities as:

 

  • Places of work, or, at least a coworking venue;
  • Grocers;
  • Pharmacies;
  • Schools for children, youth;
  • Health care or medical facilities, or simply, doctor and dentist offices;
  • Recreation, leisure and/or green spaces; at least a pocket or linear park;
  • Cultural venues;
  • Mass transit accessibility;
  • Affordable housing is assumed;
  • Flexible zoning to allow places with different day-part uses, such as local school facility that can be a community gathering place at night or on weekends; and
  • Places of worship are seldom mentioned as part of the 15-Minute City concept, but such places may be among the most successful community-building forces that have existed.

 

 

The planning term was first coined by by Prof. Carlos Moreno, a professor at Sorbonne University (Paris, France).  Prof. Moreno is the director of entrepreneurship and innovation at The Sorbonne.  Though popularized by the professor, the 15-Minute City concept itself  has been explored in major cities throughout the world from Melbourne to Portland, prior to its burgeoning popularity as an planning concept.

 

During 2020, the 15-Minute City concept has surged in interest as a sturdy planning concept alongside the increasing acceptance of coworking facilities and communities.   Coworking venues situated in close proximity to homes simply adds an additional destination within a 15-minute “neighborhood” that is vital within a 15-minute radii.

 

The 15-Minute City concept is a multi-faceted placemaking tactic.

Another aspect of making the 15-Minute City concept workable is the presence of affordable housing within each 15-Minute City cluster.  Many neighborhoods and districts around the world may work well for most required services and work places, but do not have the array of housing choices necessary.

 

Integrating the 15-Minute City concept with allied planning concepts is particularly interesting to local governments charged with numerous quality of life objectives and economic development initiatives.   A 15-Minute City imperative, as an example, is also deemed helpful in reducing the use of fossil fuels (vehicles), fighting carbon emissions, and thereby fighting climate change.  Also, applying the 15-Minute City thresholds of accessibility also advances the objectives for some groups in reversing local zoning codes to allow increased affordable housing options and thereby, more diversity, inclusion, and social justice.

 

The 15-Minute City concept has created such interest that purpose-built apps have been created to evaluate any particular location for 15-Minute City thresholds. Here Technologies (Eindhoven, Netherlands) is one such company that has created this kind of threshold’s map to answer the question – Do You Live in a 15-Minute City? We expect that the 15-Minute City parameters and software applications that track such notions, will join similar concepts as a niche investment asset class among those pursuing environmental, social, and governmental investments (so-called ESG Investing).

Life Sciences Real Estate Consultants

Life Sciences Real Estate Consultants

Our work as life sciences real estate consultants includes new facility project feasibility, owner representation for design-development management, and for due diligence in connection with facility acquisitions.

 

Life sciences real estate has been a favored investment asset class for some time now, and the Covid-19 pandemic of 2020 has only propelled investor interest in these assets.  Real estate matters related to the life sciences industries, involve companies, research universities, and government agencies working in fields such as pharmaceuticals, biotechnology, genetics and genomics, medical devices, and the like.   Many life sciences organizations are involved in original research and clinical trials, often in BtoB joint ventures and public-private arrangements.

 

Life sciences projects can be higher risk than other form of tenant-occupied real estate, given the cost premium for such facilities.

 

Facilities intended for occupancy by life sciences companies are a unique form of real estate.  As a result, investors know that purpose-built life sciences facilities can be significantly more expensive than more ordinary general-purpose office and industrial space.   Base building work, proper ventilation, security, ceiling heights, waste disposal, all such factors can make a life science campus with significant laboratory space as much as 50% more expensive than normal office space.

 

Our consulting services include:

 

  • Project Feasibility Consultants – Our project feasibility work for life sciences facilities takes into account that market supply and demand issues common to any real estate feasibility study, but also the additional factors that drive the industry.   The quality and number of research universities in an area, the type of research occurring at these educational institutions, the track record for government funding of such research, and the presence of existing public-private collaborations are all important to life sciences real estate success.  Life sciences “clusters” featuring research universities and corporate R&D programs exist throughout the U.S.   Some are longstanding and with significant critical mass while emerging clusters are in early growth in many regions.

 

  • Owner Representation for Design-Development – As owner’s reps, we work with owner to identify and retain the best team for a particular development project, including design professionals, structural and mechanical engineers, and a general contractor with specialty subs.   We collaborate with potential tenants or owner-occupier end users for the life sciences campus, ensuring their facility requirements are delivered.

 

Additional information about our office and industrial project consulting practice, and our wok as life sciences real estate consultants in particular, is available at this link:

 

Office and Industrial Project Consulting at StoneCreek Partners

 

 

Life Sciences Real Estate Consulting

Work flow is the essential consideration in planning life sciences facilities. Desktops and cubicles are situated in particular ways for access to wet benches, incubation chambers, vivarium areas, and hazardous materials disposal.

the future of co-working places and players

The Future of Co-Working Spaces and Players

The future of co-working spaces and players has been propelled by the Covid-19 pandemic but new players were already busy entering the sector.   Coworking is an arrangement where workers from different companies share an office space, with access to common equipment, IT, utilities, and receptionist, and sometimes refreshments and mail services.

 

There has been a continuing evolution in coworking space since the 1960’s, when OmniOffices Group, Inc. (now IWG plc’s HQ brand) and Fegen Suites (whose legacy ended up with Barrister Executive Suites) pioneered predecessor sharing concepts.   Later entries such as St. Oberholz (Berlin) pioneered the Internet cafe and a fully communal experience.

 

The hotel industry is likely to take a large role in providing co-working and remote work spaces to travelers and local businesses.   Hotels and resorts have cost advantages over the myriad of co-working startups, as well as many excellent locations for this purpose, brand recognition, and the opportunity to provide food and beverage, additional personal services, and amenities.  Zoku in Amsterdam (established in 2016) is among the terrific examples –  a self-described “workmeetsplay hotel” concept for the global nomad.

 

The advantages of  the hotel industry are apparent with recent events.  WeWork is the Softbank-funded co-working company that has illustrated the difficulty of its business model; that simply being a well-funded first mover without any sustaining competitive advantages, is no business model at all.   As Covid-19 has weakened all co-working companies, the hotel industry is poised to make larger inroads.

 

In September 2020, AccorHotels has announced its £35 daily fee “Hotel Offices” work spaces, with the added perk of room service and lobby bar (in many locations).   Proper Hospitality is partnering with Industrious to bring the work-from-hotel concept to its hotels in Austin, San Francisco, and Santa Monica, with additional hotels to come.  Scandic Hotels, Sheraton, and Moxy Hotels (Marriott) have also announced similar programs.

 

Proptech firms such as LiquidSpace are bringing tech platforms to coworking, allowing any property owner to inventory and work with tenants desiring co-work, shared, or nearby remote places to work.   These Proptech applications are similar to the disruptive economics and connectivity of sellers and buyers, that companies  like Uber have brought to other industries.

 

 

Coworking Companies - the Latest

 

 

For More Information

 

We track the industry and the prospects for the future of co-working spaces and players, for clients exploring anchor tenant possibilities for projects.  For more information about the co-working industry, its players, history, and recent deals, click here:

 

Co-Working Companies – the Latest

Cold Chain Logistics is Attracting Investor Interest

Cold Chain Logistics is Attracting Investor Interest

Cold chain logistics is attracting investor interest as a real estate asset class, given its increasing demand across industries.   Although cold chain is a specialized kind of asset, it is part of the broad range of facilities within the office and industrial facility sector.

 

Cold chain logistics companies handle temperature-controlled and temperature-sensitives goods.  The logistics include all or part of the supply chain, including procurement, storage, transport, and distribution.   Refrigerated goods handled in the cold chain logistics industry include foods, beverages, and bio-pharmaceutical products (life sciences), among other items.

 

The increased investor interest in cold chain is interesting since many of the large operators and portfolios are somewhat historic having gotten their starts in the early 1900’s.   United States Cold Storage got its start in 1899, for example.   And Americold Realty Trust (Atlanta) traces its origin story back to 1903.

 

Now, newly-established global real estate conglomerates such as Constellation Cold Logistics S/A and Qualianz, each established in 2020, are bringing asset management and best-practices techniques from other industries.   And we’re seeing the acquisition and consolidation transactions to achieve operating footprints than can better support client supply chain issues, such as Lineage Logistics’s recent acquisition of Henningsen Cold Storage (in May 2020), and Americold Realty Trusts’ acquisition of Agro Merchants Group (The Netherlands)- also in 2020.

 

 

Cold Chain Logistics Facilities

 

 

For More Information

 

More information about the the cold chain logistics industry is available through our ongoing tracking services for clients.   A summary of some of this tracking information is available for review, clicking here ==>

Cold Chain Logistics Companies – the Latest

 

life sciences facilities directory

Life Sciences Real Estate is Hot

Life sciences real estate is hot among property developers and investors, and has emerged as a highly-desired real estate asset class.  “Life Sciences” refers to the booming industry made up of such industries as biotechnology, pharmaceuticals, biomedical devices, genetics and genomics, and research and development (R&D).

 

Life sciences real estate is exceptionally hot among investors, as 2020 heads towards year-end.   The life sciences industry was already a top economic sector as 2019 came to a close, and this Covid-19 pandemic year has only propelled investor interest in the industry.

 

Life sciences facilities are typically clustered in areas with strong university research and teaching programs in the life sciences, and situated in proximity to other facilities and their tenants.  In fact, seven of the top 10 biological science programs are at graduate universities located in the top life sciences clusters of Boston, the San Francisco Bay Area and San Diego.

 

Some of the top life sciences clusters includes the following cities and districts:

 

  • Boston-Cambridge
  • San Francisco bay area
  • San Diego
  • New Jersey
  • Raleigh-Durham
  • Washington, DC – Baltimore
  • New York City greater metro area
  • Philadelphia
  • Los Angeles
  • Chicago

 

 

Life Sciences Real Estate is Hot

Life sciences real estate is a hot real estate asset class among real estate investors and developers.

 

As part of the office and industrial real estate asset class, life sciences properties are a more specialized and generally more expensive facility than typical general-purpose office and industrial properties.    The pairing of university bio-science research with private-sector life sciences companies seeking to leverage such research, is a more fine-tuned version of the well-known Science and Technology Parks that got their start in the 1950’s.

 

For more Information

 

We track the life sciences asset class on behalf of our clients.   We maintain a summary of this tracking online, which is available by clicking here ==>  Life Sciences Facilities Directory & Industry Players

Contact us for more information, we'll enjoy hearing from you.