On January 22nd the Urban Development Institute held their annual forecast event that brings together industry leaders to discuss their thoughts for the upcoming calendar year and how the real estate industry will be affected by local politics, international events, and current economic trends.
This year brought Colin Bosa (Bosa Properties), Mark Betteridge (Discovery Parks) and Michael Penalosa (Thomas Consultants) together to discuss the Residential, Office + Technology, and Retail real estate landscape for the coming year.
Expertly moderated by Diana McMeekin (Artemis Marketing) topics ranged from the growing technology industry and how this affects our local real estate industry to the continually changing nature of the retail experience to innovative floor plans that give even more flexibility to new homeowners.
Overall the general consensus was that the industry will remain fairly stable. Residential projects will continue to see new innovations especially in terms of floor plans and customizable spaces (think space-saving furniture and moving walls). The retail space will become more of an experience, where retail + tourism grow even closer together. And the technology industry is continuing to shape the real estate industry as the abundance of small start-up firms seek space with rich neighbourhood amenities that function as complete micro-cities.
For a comprehensive review of specific topics and questions Clark Wilson has posted this in-depth summary titled UDI Presents 2014 Forecasts.