Lusk: Traditional Markets Limited for Developers

Developers will face "intense competition and limited prospects in traditional markets" next year and should look beyond mainstream markets for opportunities, according to the head of the USC Lusk Center for Real Estate.Stan Ross, chairman of the board of the Lusk Center, cited a number of nontraditional markets that he expects to present opportunities for developers in 2003, including public/private partnerships, educational institutions, retirement housing, hospitals, and health care facilities. The range of facilities ripe for public/private partnerships include civic centers, administrative buildings, libraries, airports, stadiums, convention centers, cultural centers, and correctional facilities, he said. "Governments face large budget deficits, and developers who can help them to attract private investment capital for critically needed facilities will have an edge," Mr. Ross declared. The Lusk Center can be found online at http://www.usc.edu/lusk.