Michelle Landers, Executive Director, ULI Boston/New England

In an interview with Invest:, Michelle Landers, executive director of ULI Boston/New England, highlighted achievements in addressing housing attainability and decarbonizing the built environment. She emphasized the development of mobility-oriented solutions in North Shore communities and the prioritization of diversity, equity, and inclusion within ULI’s District Council.

What have been some significant achievements for ULI in the region over the past year?

Over the past year, we have collaborated with members and municipalities of all sizes to address housing attainability, decarbonize the built environment, and foster public-private engagement. Our efforts aim to promote responsible development and better community outcomes. We are working with North Shore communities to develop mobility-oriented solutions, improve last-mile connectivity, and increase housing production in strategic locations that serve job centers. Additionally, we have prioritized leadership, diversity, equity, and inclusion within our District Council, providing opportunities for members from all backgrounds and sectors to enhance their networks and better reflect the communities we serve.

What significant trends are emerging in the region’s real estate market?

Housing remains the major focus. We are underserved by housing of all types and continuously seek ways to boost production to meet community needs. Today’s living patterns differ greatly from those of 20, 50, or 100 years ago, leading to a housing shortage and rising prices. In the Boston area, a high-cost market due to abundant opportunities, we explore public policies like the MBTA Communities Act to encourage housing in transit-served communities, whether via commuter rail, light rail, subway stops, or rapid bus services.

Additionally, there is ongoing interest in downtown revitalization. On a nice summer day, downtown Boston is bustling with people, though office occupancy rates are not what they were five years ago. Despite this, the city thrives with vibrant street life and active public spaces.

What makes Boston a great place to live and do business? 

Greater Boston truly has it all. Despite its aging subway system, it remains the envy of many cities, providing good connectivity. The city’s traffic, though frustrating, indicates a daily influx of people, reflecting its vibrancy. Boston leverages its world-class education and medical sectors, attracting some of the brightest minds globally. Many stay due to our thriving life sciences economy and academic opportunities, making it a hub of innovation where dining hall ideas can evolve into world-changing products.

ULI publishes an annual report called Emerging Trends in Real Estate. This survey of our members across the United States and Canada consistently ranks Boston highly. Once again, Boston was the only market in the Northeast to make the Top 10 markets to watch. This highlights not only our local members’ confidence in Boston but also broader recognition from owners and investors nationwide. Boston continues to show strong demand for all property types, making it a great place to invest in, own property, and, if fortunate enough, develop. Making your mark in a city with such a rich history and world-class status is an incredible opportunity.

What regulatory changes might affect the real estate market?

The city of Boston is undergoing Article 80 reform, which aims to streamline large-scale project reviews. This will make the process more predictable and equitable for developers, significantly enhancing project viability. Additionally, energy regulations in Boston and nearby suburbs like Cambridge are moving away from fossil fuels, promoting sustainability and aiming for net-zero energy consumption in buildings. This transition, though challenging given our older building stock, is essential for making Boston a safe and healthy place in the future.

How is ULI encouraging its members to adopt sustainable practices?

At ULI, we help our members adopt sustainable practices by convening, sharing best practices, and providing learning opportunities about relevant policies and their impact. As a global organization, we share insights from cities across the United States, Europe, and Asia-Pacific, looking to places like New York, Chicago, and other cities with similar sustainability values. Locally, we focus on reducing embodied carbon and have initiatives like Living with Water and Living with Heat.These programs help property and building owners make their buildings, neighborhoods, and districts more sustainable, resilient, and livable as the climate changes.

How does ULI foster partnerships among its members?

Many partnerships happen organically. We provide a platform for members to build relationships and find companies with similar goals and values. We also encourage collaboration with the public sector, sharing knowledge of market trends and conditions to help public sector members make informed policy decisions that impact the built environment and developers.

What initiatives has ULI implemented to support members in achieving their DEI goals?

One notable program we sponsor locally, active in about 10 markets nationwide, is called Pathways to Inclusion. The District Council invests in this program by providing ULI membership and covering registration for one of our national conferences, held in the fall or spring. We also hold a series of cohort meetings throughout the year to discuss land use and commercial real estate issues.

We facilitate structured connections to increase the diversity of participants’ networks and those of our established leaders. This program targets current land use professionals, industry members not yet part of our organization, or those who haven’t found the right opportunity to engage.

Pathways to Inclusion offers multiple benefits: expanding participants’ networks, providing insights into ULI’s research and reports, and fostering collaboration with organizations like the Builders of Color Coalition. This engagement has led to leadership positions and seats on our advisory board. We’ve been actively working on this program since 2018, and we consider it very successful.

What are the most pressing infrastructure needs for the city?

While the MBTA is a crucial asset, it’s essential to ensure it doesn’t fall into disrepair. The city’s subway lines, commuter rails, and ferries connect suburban communities and neighborhoods to jobs and cultural centers. Traffic has surpassed pre-pandemic levels, indicating people’s preference for cars and rideshares. However, having a reliable subway system and transportation network in Eastern Massachusetts is key to continued growth and accessibility. We need to ensure people from places like the North Shore can easily access jobs in areas like the Seaport, Back Bay, and downtown without relying solely on cars. A challenging commute is one of the biggest barriers to full-time office occupancy.

What advice would you give young professionals aspiring to build a career in real estate?

Seize every opportunity to build relationships with peers and market professionals. This business is all about relationships — knowing who you work with, partner with, and hire. These connections take years to develop and often evolve through social outlets. Get to know people in your industry beyond your firm and current clients. Despite its world-class amenities, Boston can feel like a small town. Building these relationships is crucial for career growth. I’ve seen members leverage relationships built over 10-20 years, leading to successful business collaborations.

What is your long-term vision for ULI’s role in shaping urban development in Boston?

We recently completed a strategic plan with a major goal of being a resource for both the public and private sectors, facilitating mutual learning. Often, it’s perceived that the public sector needs to learn from the private sector, but it goes both ways. There are incredibly talented and knowledgeable people in communities throughout New England. Collaboration between these sectors creates better and more sustainable projects. Our aim is to foster placemaking and expand economic opportunities without gentrification, building on the rich histories here. We want to continue being a resource for both sectors, supporting projects that serve residents, visitors, and the broader community.