SAN ANTONIO MAKES DEBUT ON "TOP 10 U.S. REAL ESTATE MARKETS TO WATCH LIST"
Urban Land Institute and PricewaterhouseCoopers Release 2024 "Emerging Trends in Real Estate" Report; San Antonio Ranks No. 8 in Top Markets to Watch
SAN ANTONIO, Nov. 9, 2023 /PRNewswire/ -- The Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC) recently released its "Emerging Trends in Real Estate" report for 2024, and San Antonio has made its first-time appearance on the Top 10 list for U.S. real estate markets to watch -- ranking No. 8 out of 80 cities on the list. This recognition showcases the transformational growth of the region as a top metro to live, work and grow a business.
The ULI/PwC report, its 45th edition, was published Oct. 31 and places San Antonio in the "Super Sun Belt" subgroup of the "Magnets" category stating: "These markets are large and diverse but still affordable, forming powerhouse economies that attract a wide range of businesses," according to a news release.
The report characterized the Super Sun Belt: "Households are attracted by the warmer weather, more affordable housing, and strong job growth...Firms are attracted by the lower regulations and taxes in these markets, along with the growing labor force, in a virtuous cycle between population in-migration and corporate relocations, which feed off each other. In turn, these key drivers attract the attention of commercial and residential real estate investors and homebuilders."
"We are thrilled to see San Antonio break into the Top 10 among 2024's Markets to Watch from PwC and ULI's Emerging Trends in Real Estate report, though it's no surprise to those of us doing business here in San Antonio," said Jenna Saucedo-Herrera, President and CEO of greater:SATX, the regional economic partnership for San Antonio. "This is a wonderful testament to the welcoming and positive culture of our region and the collaborative work of our public-private partnership to address the needs of businesses and residents in our community.
"Keep an eye on San Antonio as we continue to align our investments in placemaking to create a more prosperous city for our residents here today and those we'll attract in the future. Life works greater here in San Antonio, and we believe we are in a moment of transformational growth and invite the world to know San Antonio beyond our status as Texas' best place to visit," she continued.
"This is San Antonio's first time breaking into the Top 10 U.S. real estate markets to watch, the result of countless individuals locally who think and invest boldly to make our San Antonio market one of the most favorable places to live, work and build a business," said David Adelman, Principal of AREA Real Estate and ULI San Antonio Governance Council member.
"That hard work is paying off and I'm proud that San Antonio is receiving this well-deserved recognition."
Another report also published last week by Philadelphia's Center City District, a nonprofit organization, ranks San Antonio No. 1 in the recovery rate among nonresident workers in its downtown – registering current city center activity at 85% of pre-COVID levels. The new national "Downtowns Rebound Report" looked at the downtown revival trends in 26 U.S. cities post-pandemic. Researchers at Placer.ai, a Santa Cruz, California-based analytics firm, used cellphone data to track trends in each of the markets. Last week, the study was prominently reported on the Bloomberg CityMap.
In recent news, JCB, the world's largest privately owned manufacturer of construction and agricultural equipment, announced that San Antonio will be home to the company's second and largest North American manufacturing facility, the greatest economic development infusion in the region in 20 years with an expected $30 billion economic impact over the next 10 years and the creation of more than 1,500 jobs.
To address long-term workforce readiness, greater:SATX also announced it is implementing the U.S. Chamber of Commerce Foundation's Talent Pipeline Management® (TPM) framework and is the first to scale TPM by building out five industry collaboratives uniting 100-plus regional employers, education institutions, and workforce partners to serve its five key industries: advanced manufacturing, healthcare, financial services, cybersecurity and technology, as well as construction/skilled trades.
Taveloffpath.com, a website dedicated to making travel more accessible, affordable, and possible for everyone, also recently cited San Antonio among the top five cities for digital nomads.
Learn more about economic development best practices shared by greater:SATX in this blog post.
About greater:SATX Regional Economic Partnership
greater:SATX is the economic partnership leading the San Antonio region's transformative growth through corporate recruitment, local business advancement, and workforce development. At the core of greater:SATX's mission is attracting, retaining, and growing quality jobs for all San Antonians that provide pathways to economic mobility. This work is led by the regional businesses and supported by the City of San Antonio, Bexar County, CPS Energy, SAWS, and economic development partners throughout the region. The organization is responsible for assisting over 500 companies to relocate or expand in the region, which collectively employ more than 120,000 San Antonians. For more information on San Antonio's industry growth and economic opportunity, visit greatersatx.com and follow us on X (Twitter) @greater_SATX, LinkedIn, and Facebook.
Media Contacts:
Mardi Larson, Amendola for greater:SATX, mlarson@acmarketingpr.com
SOURCE greater:SATX
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