The industrial sector in Chicago is setting records.
"Chicago’s industrial market continued its record-breaking growth across all fundamentals during the second quarter, with absorption increasing to 6.2 million square feet, up 201% from the previous quarter and about 100% from last year’s second quarter," reports Brian J. Rogal.
Rogal shares those findings from a recent report by Avison Young, which also found that the "overall vacancy rate sank to 6.1%, a decline of 10 bps. Submarkets that absorbed the most space during the second quarter were the I-80 Corridor, I-55 Corridor, and Lake County, representing a combined 3.3 million square feet." Industrial construction also achieved new heights, according to the report. "Developers delivered another 5.4 million square feet in the second quarter, and have an additional 16.1 million square feet under construction."
The article includes more details about some of the specific project driving the boom, along with the long-term health of the market once the sector passes an expected "high-water mark."
Planetizen picked up on news in August 2016 of Chicago's strong industrial sector, especially in construction of warehouses for online shopping and shipping businesses.
FULL STORY: Record-Breaking Growth Continues For Industrial Sector
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.