Henry Cisneros - Urban Real Estate Investment: A New Era of Opportunity

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The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is committed to

Bringing together leaders from across the fields of real estate and land use policy to exchange best practices and serve community needs;

Fostering collaboration within and beyond ULIs membership through mentoring, dialogue, and problem solving;

Exploring issues of urbanization, conservation, regeneration, land use, capital formation, and sustainable development;

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The ULI Center for Capital Markets and Real Estate focuses on real estate finance, real estate industry and investment trends, and the relationship between the capital markets and real estate. The mission of the Center is to promote understanding of the real estate capital markets and to provide leadership in fostering a healthy and productive real estate industry and capital markets sector that in turn promote thriving and sustainable communities worldwide. The Center pursues this mission through research, trend analysis, education, events, publications, web-based resources, and thought leadership.

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Cover image: Detroit
Photo credit: Ryan Southern

Library of Congress Cataloging-in-Publication Data

Cisneros, Henry.

Urban real estate investment : a new era of opportunity / Henry Cisneros.

pages cm

Includes bibliographical references and index.

ISBN 978-0-87420-358-5 (alk. paper)

1. Real estate investmentUnited States. 2. Real propertyUnited States. 3. Land use, UrbanUnited States. 4. Real estate investmentUnited StatesCase studies. I. Urban Land Institute. II. Title.

HD257.C57 2015

332.63240973dc23

2015005407

About the Author

Henry Cisneros is chairman of Cisneros City Group, which invests in urban real estate and infrastructure projects. He is also chairman of CityView, a partner in building and renovating more than 11,000 residential units in 13 states over the last 15 years. Cisneros served four terms as mayor of San Antonio and was secretary of the U.S. Department of Housing and Urban Development in President Bill Clintons administration. He is currently vice chair of Habitat for Humanity International and chairman of the San Antonio Chamber of Commerce; and in 2007, he was inducted into the National Association of Home Builders Builder Hall of Fame. Cisneros holds masters degrees in urban planning and public administration from Texas A&M University and Harvard University, respectively, and a doctorate from George Washington University.

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A mericas cities are being reborn as new forces to transform the urban environment. Simply put, these are exciting times for metropolitan America. The mid-20th century images of decay that defined U.S. cities are fading away as urban cores throughout the nation are injected with new life.

Los Angeles is well known for its world-class universities, medical facilities, and entertainment companies. Anchor institutions such as the University of Southern California are critical to the new economy of the future.

NSERRANO/WIKIMEDIA COMMONS

A new dynamism has emerged through a convergence of new planning principles, renewed civic investment, and an influx of people not forced to move because of a shifting employment landscape, but rather who have made a deliberate choice to repopulate our urban cores.

Like any change, these forces of renewal come with challenges; we must seek to effect the positive outcomes of regeneration while arresting negative impacts on existing communities.

Henry Cisneros helped lay the foundation for this new life in Americas cities. As the young mayor of San Antonio, he helped lead his historic city to reach new heights through sound planning and powerful infrastructure investments. As secretary of the U.S. Department of Housing and Urban Development in the Clinton administration, he visited every state in his work to marshal the transformation of American public housing. Today, as a private sector real estate professional, Cisneros is tackling one of urban Americas most pressing issueshow to build for-sale housing for the middle class in our cities. In many ways, the loss of our cities middle class led to the urban decline of the late 20th century. Our cities must be focused on preventing a repeat of this history.

In this book, my friend captures this important time for our cities. As we come out of the worst recession of our lives, cities are playing a starring role in Americas recovery, but urban rebirth does not happen without smart guidance and foundational principles to guide it. From leading the way in new infrastructure investments to bravely tackling the effects of climate change, U.S. cities have reemerged as national centers of political, economic, and social innovation.