New Urban Land Institute Report Investigates Intersection of Broadband Infrastructure and Real Estate
The real estate industry can simultaneously combat inequality and boost property values by improving broadband access.
The Broadband and Real Estate: Understanding the Opportunity report identifies challenges and the opportunities in addressing the digital divide, the tools and techniques available for both the real estate and land use industry, and the need for communities to expand and best take advantage of this connectivity.
The real estate industry can simultaneously combat inequality and boost property values by improving broadband access, according to a new report from the Urban Land Institute (ULI). ULI is a global, member-driven organization comprising more than 45,000 real estate and urban development professionals dedicated to advancing the Institute’s mission of shaping the future of the built environment for transformative impact in communities worldwide.
The new Broadband and Real Estate: Understanding the Opportunity report, from ULI’s Curtis Infrastructure Initiative, makes clear that high-speed internet is no longer a luxury but a necessity for participating in society and the economy.
“The COVID-19 pandemic turned the world upside down,” said Craig Lewis, chair of the Curtis Infrastructure Initiative Global Advisory Board. “Virtually overnight, the internet became our primary means of working, attending school, seeking healthcare, and so much more. Everybody deserves access to the opportunities the internet provides, and this report shows us how we in the real estate community can help make that happen.”
The report’s key findings include:
The report also highlights real estate and community initiatives that have expanded broadband access in different cities — and therefore increased real estate desirability and digital resource equity.
“Communities across the country understand that broadband is the critical ingredient for increased economic opportunities and the future of real estate development,” Craig Lewis continued. “Broadband has become an essential utility for every project—just like water and power. It is the backbone for all building communications and tenant expectations. But access is not enough. It must also be fast, reliable, and future proof.”