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Seven Transition Waves Impact Future Development

NEW YORK CITY-The real estate industry is in the midst of significant evolutionary change due to a series of seven transition waves.

By Natalie Dolce | Updated on July 24, 2007

NEW YORK CITY-Michael Buckley, director of Columbia University Real Estate Development Program and president of Halcyon LTD Real Estate Advisors and Development Consultants, warned BOMA International attendees that the real estate industry is in the midst of significant evolutionary change.

“This evolutionary change is due to a series of sustained transition waves, which are driven by–and enabled by–a powerful global revolution in information technology,” he said in the education session titled “Seven Transition Waves Impacting the Real Estate Industry,” adding that these waves are major forces that are now, or will be soon impacting the development industry over this decade.

The transition waves he spoke of include demographic shifts, business consolidation pressures, capital market transformations, influence of emerging technologies, globalization, suburban/urban conflicts and city revitalization strategies.

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