In early April, the Urban Land Institute and EY released its annual report: Infrastructure 2014: Shaping the Competitive City. The report showed that telecommunications infrastructure is one of the top factors influencing real estate decisions around the world.
Urban Land Institute and EY’s findings highlight the role infrastructure plays in real estate and economic development. Within the report, infrastructure was defined as telecommunications, utilities and transportation, which highlighted high-speed broadband connectivity, good roads, bridges and reliable and affordable energy as crucial factors in development.
“We have entered a new era that requires new approaches to funding and building infrastructure to support the creation of communities that are healthier, more livable, economically prosperous, and environmentally sustainable,” ULI Chief Executive Officer Patrick L. Phillips said in ULI and EY’s press release.
The report was based on survey results from public sector officials and senior-level real estate executives. The majority of those questioned were from the U.S., but individuals from non-US large and mid-sized cities were included.
“Helping stakeholders better understand the importance of developing and maintaining infrastructure, and providing a clear vision of what those infrastructure investments can accomplish are critical,” EY’s Global Real Estate Leader Howard Roth said.
Ninety-one percent of public officials questioned selected infrastructure, including telecom, making it the top factor when it comes to real estate investments and developments. Private leaders rated infrastructure as the second highest priority with consumer demand ranking as the top factor.
Survey participants stated that they feel public willingness to pay for infrastructure is a top factor shaping real estate development for the next 10 years. For continued growth, it is vital for communities to use this information to promote coordination between infrastructure planning and land use planning.
“Real estate and civic leaders must work together to find more creative and collaborative ways to articulate benefits and overcome funding challenges on infrastructure developments, as this is critical to stimulating long-term economic development,” EY’s Global Infrastructure and Construction Leader Malcolm Bairstow said.
At GeoTel Communications, we know that real estate investments are about more than location, location, location. Our telecommunications infrastructure data in a GIS format helps public sector officials and real estate executives analyze, report, map, and model telecommunications data so they can compare the merits of one site or location over another. If you are interested in obtaining telecom GIS data to make informed decisions for commercial real estate, contact GeoTel Communications today at (800) 277-2172.
