ULI report: Nashville sees real estate opportunities as '18-hour city'

ULI Nashville held its annual Emerging Trends in Real Estate event today, with participants noting the city's real estate community faces great opportunities and challenges -- including absorbing units in new apartment buildings and the thoughts of new Class A office space commanding $40 per foot.

Speaking to more than 200 attendees at Omni Nashville Hotel as part of ULI's Real Estate Outlook 2016 program, Washington, D.C.-based ULI Executive VP and Chief Content Officer Kathleen Carey said Nashville has become an "18-hour city" (as opposed to a 24-city such as Los Angeles or New York). To be an 18-hour city (with the metrics including relatively low cost of doing business and cost of living and an vibrant urban core) often yields growth and development opportunities, she added.