PHOENIX—ULI's Trends Day, The Next 10 Years, featured discussions on the region's newest economic development initiative, Velocity, millennials and light rail. Panelists explored the economy, creative turbulence, education, water and healthcare development while quick hit perspectives shared the latest on creative office, state land and retail. Approximately 1,000 real estate professionals were in attendance at the all-day event.
KC Conway began with an economist's view of Metro Phoenix and Arizona, both of which rank 11th in US growth rate. This was followed by Arizona State University president, Michael Crow, who naturally placed a strong emphasis on Arizona education. The session titled, Water: Managing for the Future, painted a less-than-rosy view of Phoenix and panelists discussed Arizona's dire straits with regard to water.
"We need to get our water mojo back," said Sarah Porter, director at the Kyl Center for Water Policy.
Millennials are the demographic that real estate is still trying to figure out. Do they want to buy a house? Do they want to live in upscale condos that offer desirable amenities such as the live-work-play lifestyle? According to a young group of panelists, the answer to both is yes, and by 2025, 75% of the US workforce will be millennials.
Paul Saffo, a respected forecaster of large-scale, long-term change was the keynote speaker. Saffo began by saying that "we're not wired to know exponentials," going on to explain abstract issues such as nonlinear thinking, creative turbulence and pace layering. Saffo teaches at Stanford University and chairs the future studies and forecasting track at Singularity University. His essays have been published in the Harvard Business Review, Fortune, Wired, Newsweek, The New York Timesand The Washington Post.
Education dominated the afternoon as a panel on the subject moderated by Crow wrapped up the day. From an economic development standpoint, Arizona has a less-than-desirable reputation when it comes to not only K-12 education, but higher education as well.
"It is about a vision. It's about setting a goal," said panelist Pearl Chang Essau of Expect More Arizona.
And perhaps the most important quote came from Doug Pruitt of Sundt Construction: "You have to look at kids as an investment in the future."
Deb Sydenham, ULI Arizona executive director, tells GlobeSt.com: "Each year, Trends Day explores the leading edge of issues critical to making cities more livable and sustainable. This annual deep-dive is recognized as a trusted forum that brings together public and private sector thought leaders to share knowledge and ideas while also providing a platform for honest debate. Trends Day truly is a manifestation of the commitment to quality, credibility and integrity that has long defined ULI Arizona."
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
