CRE forum panelists discuss the pandemic’s affect on commercial, residential development

There is little doubt that the pandemic has had a far-reaching impact on the commercial and residential real estate and development landscape.

On Thursday, during Business Record’s annual CRE virtual forum, eight panelists described how the pandemic has impacted various sectors of the construction and development industries and the outlook for the next year. Topics covered included funding proposed projects, changes in offices to keep workers safe, rising costs and availability of building materials, and the affordability of housing.

During the forum, Mark Rupprecht, President of the R & R Realty Group, was featured as Ivy College of Business Real Estate Professional of the year 2021 at Iowa State University’s Business Record.

Below are the speakers and the questions they were asked. After the questions, links are provided to each panelist’s answer.

Randy Ripperger, Polk County Reviewer
How has the pandemic affected Polk County’s property valuations, and was one area more affected than others? look here

Jennifer Cooper, Vice President and Manager of Bankers Trust Co.
How have the criteria for funding a project changed since COVID to date? And what types of projects are banks willing to borrow for, and what types of projects are given a tough “no”? look here

Brad Deets, director of development services, City of Waukee
How has the pandemic affected the pace of development in Waukee – have projects stalled or been suspended indefinitely? If so, are developers starting to bring projects into town for review? look here

Dan Drendel, Director, Slingshot Architecture
How has the pandemic affected designs for new or converted office buildings and other spaces? look here

Paul Rupprecht, President, R & R Real Estate Advisors
The industrial and warehouse development in the subway area explodes. Explain why and what the prospects for further industrial and warehouse development look like over the next 12 months. look here

Tyler Dingel, Senior Vice President, CBRE | Hubbell Commercial
E-commerce will continue to grow even after the pandemic. How do you balance direct online sales to consumers with maintaining a physical presence? And a follow-up: Are we likely to see more or less new retail developments in the next 24 months? look here

Kalen Ludwig, Peoples Co.’s new home builder and President of the Greater Des Moines Home Builders Association
The cost of sawn timber and other raw materials is increasing. What do experts forecast for material costs in the next 12 months and how will this affect construction costs and other developments related to wood products? look here

Kim Bakey, CEO of HomeServices, Iowa
The pandemic sparked a real estate boom. How does this boom differ from the beginning of the 2000s and are some sections of the population being pushed out of the market? look here