What person, project, transaction, or market trend had the greatest impact on your industry this year? The market trend for residential remodeling has been moving towards a “design-build” approach where there’s a unified process from design through completion.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2023? FamilyAid has been a rewarding project, converting a former nursing home into family housing. We’re all privy to the housing crisis and our client and the city of Newton have been instrumental in getting this project going.
What person, project, transaction, or market trend had the greatest impact on your industry this year? The demand for multifamily housing in Massachusetts (specifically within Boston and the surrounding communities) has been a steady constant for several years with no signs of a significant slowdown in the near future.
What person, project, transaction, or market trend had the greatest impact on your industry this year? 2023 brought its share of challenges. The “Covid hangover” along with inflationary pressure and major geopolitical issues all combined to deliver significant and ongoing ripple effects
What person, project, transaction, or market trend had the greatest impact on your industry this year? As we continue to lean into the retail design industry, we are continuing to see 3rd party delivery services and online pick-up continue to impact how retailers deal with multiple points of engagement.
How has your career path changed in 2023? My career path changed in 2023 to include more focus on ESG (Environmental, Social & Governance) and sustainability support for my key real estate clients. Joining Ramboll’s global team also expanded my ability to provide environmental, engineering and energy services internationally.
What emerging trends will drive investment and development in 2024? There is no trend larger or that will have a major impact on the security industry than artificial intelligence (AI). The security AI trend would also include a blend of AI and cybersecurity.
What person, project, transaction, or market trend had the greatest impact on your industry this year? Interest rates are a market trend with a strong impact on business. Property that yesterday would have “cash flowed” with rent it was receiving doesn’t necessarily do so today because the cost of money is higher.
What person, project, transaction, or market trend had the greatest impact on your industry this year? Without a doubt, rising interest rates had the single greatest impact on the commercial real estate development industry this year. Increased borrowing costs combined with inflationary forces challenged project teams to problem solve
What person, project, transaction, or market trend had the greatest impact on your industry this year? Rising Interest Rates impacted our industry; even with construction costs down and the supply chain improving; demand slowed down to pre- pandemic years. Investors took a break on development plans watching the economy and interest rates.