Chapter Corner
Baltimore Chapter:
Chapter members are being alerted to attend the upcoming 36th Biannual LAI Land Economic Weekend in Los Angeles, CA, USA on October 18-21, 2007. This will be a very special event because our own Dr. Michael A. Anikeeff will receive the prestigious Richard T. Ely Distinguished Educator Award. This Lambda Alpha International award recognizes a Member who has achieved excellence within the academic world in the field of land economics. The Award presentation to Dr. Anikeeff will be at a special Dinner on October 20, 2007.
Special note: A new feature has been added to the LAI website, under the MEMBERS ONY section. The new feature is called PRESENTATIONS. The current presentation is from our trip to Ireland. I encourage you to visit the site and view the presentations by presentations by Tom Dunne, John Tierney and Ian Gleeson. It is fascinating data on the growth of Ireland and how it plays out on the world’s stage, today.
Please plan to attendthe next Baltimore Chapter meeting, Wednesday, September 19, 2007 at Noon at the JHU Downtown Center. Our Speaker TBA. The October Speaker will be Mrs. Ellen Hemmerly, President, bwtech@UMBC Research and Technology Park.
Neil Muldrow, Baltimore Chapter President
Ely Chapter:
The Ely Chapter of LAI has recently developed a series of informal "Technical Working Group" meetings to foster small group discussions on timely topics. Typically, these meetings take place during an extended lunch hour or at the end of the day at a member's office.
The Ely chapter announced the first of its Technical Working Group sessions devoted to technical problem solving within the fields of real estate economics, law and planning. It is intended to bring practitioners together with academicians to encourage an exchange of ideas about research questions, methodologies, and data sources. A further hope is to shorten the time it takes for the work of academicians to become common industry practice.
The programs are intended to supplement the monthly LAI luncheons. Meetings will be held every other month in the evenings and will run about an hour and a half, with a third of that time devoted to an individual presentation and the remaining time left for in-depth discussion.
The first meeting of the Ely Technical Working Group was held Wednesday, May 2,2007. McKim Barnes, Vice President of Research and Analysis for Draper and Kramer discussed how he uses regression analysis to estimate the level and trends of condominium prices in markets where Draper and Kramer is considering a conversion project. Questions addressed included, “What factors really do influence condo prices and what alleged influences appear to be ‘broker mythology’? What part of a condo’s selling price is merely a random deviation? But do regression-based methods offer a superior alternative to the time-honored appraiser’s adjustment grid? ” Kim illustrated his methods using data from downtown Chicago. The discussion focused on the benefits and disadvantages of using more sophisticated statistical methods to predict prices.
The second working group session was a discussion on "Setting the Boundaries of Real Estate Markets". It was conducted at the College of Urban Planning and Public Affairs University of Illinois at Chicago on June 29. The discussion considered the effects of poorly defined sub-market boundaries and the potential lead to erroneous estimations of market prices and rents for any property. In consideration of different attributes of a property being differently valued depending on the unique demand and supply conditions within the sub-market. Moreover, the factors of geography of residential and commercial sub-markets in the same general vicinity will vary considerably. But how exactly are sub-market boundaries determined? How fixed or malleable are these boundaries? How much variability can particular properties exhibit and still be considered part of the same sub-market?
During this second session of the Lambda Alpha International Technical
Working Group, considered different methodologies for delineating real estate sub-markets within metropolitan regions were accessed. Geographer Mark Donovan led the discussion, providing some background to the topic and introducing a novel methodology for identifying variation between office sub-markets and locating their cores.
This methodology is based not on industrial sectors but on the type of office facility (e.g., headquarters, back office, sales office) and employment mix. Mark provided an example of this method looking at office sub-markets in metropolitan Chicago using CoStar data and U.S. Bureau of Transportation Statistics' Census Transportation Planning Package.
Mark P. Donovan is an ABD Ph.D. student in the Committee on Geographical Studies at the University of Chicago. He has worked in non-profit community development and as an investment and market analyst at Pannell Kerr, Forster, Balcor, and the Prime Group.
Two Ely Chapter members, McKim Barnes and Rachel Weber have done a great job of organizing these discussions.
Contact Barbara Morris at ely-chicago@lai.org to request your copy of the report.
Barbara Morris, Ely Chapter Scribe
<Ed. Note: This seminar provides a great model for sharing knowledge of educators and practioners in a “safe space” to thoroughly evaluate specific real estate issues.>
Golden Gate Chapter:
THE TRANSBAY TERMINAL
The Chapter has members heavily involved as proposers, jurors, Authority Members and City staff in the evaluation of the three exciting development proposals. These have come from years of dreams and talk to models and actual proposals. The models have been publicly displayed for information and comment.
What’s the big deal? Well the development will include the tallest building on the West Coast and a world class transit center. The design proposals are for both the tower and the terminal to keep the design coherent and are as follows:
•The Rogers Stirk Harbour’s design has a tower of 1,225 feet, with a “muscular look” rising straight up from a plaza on Mission Street. The Development team includes Forest City Enterprises, Cleveland based, with MacFarlane Partners, San Francisco.
•The Pelli Clarke Pelli Architects plan has a tapering, obelisk-shaped tower rising to 1,200 feet. At the base would be a glass-covered square. The Developer is Hines, based in Houston.
•The Skidmore Owings Merrill team proposes a 1,375 tower that twists as it rises, topped by a rooftop space wrapped in glass. The Developer is the Rockefeller Group Development Corporation (now owned by Mitsubishi Estate Co.).
The new tower / transit center will be built on the site of the existing Transbay Terminal located a block from Market Street between Beale Street and Second Street. The development process which is being carried out by the Transbay Joint Powers Authority. The Authority is a regional government body created in 2001 to bring about the construction of this new transit terminal in San Francisco planned to be along the lines of Grand Central Station. The intent is to relocate all transit systems to this site. The development team would buy or ground lease the land and build the tower. The Authority would use the proceeds to help pay for the terminal.
Part of the big deal for the City is the height being considered. The City has long been wary of high-rises. The Request for Proposals required a tower nearly double the currently highest building in the City. So these soaring structural proposals are quite remarkable and even more so since a number of environmental groups favor the height because they realize the benefits of concentrating development in the core of the city. The high will require a change to the City’s zoning to permit this height.
The Transbay Authority is to vote on selection of one of the three teams September 20, and the goal is to have the transit station in operation by 2014. For more information: links.sfgate.com/ZOG Two other links for Chronicle articles on the Transbay Terminal are as follows: www.transbaycenter.org and http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/08/12/MN6SRGFIU.DTL
Jesse Smith, Golden Gate Chapter President
George Washington Chapter:
The chapter membership has ratified the selection of over 30 new members who will be inducted at our annual banquet on October 16th. Two of our nominees have been selected for annual awards at the LAI Fall Weekend in Los Angeles: for International Author, Tony Downs of the Brookings Institution, who has written extensively on urban economic policy, and for International Urban Affairs, chapter member Maureen McAvey, Executive Vice President for Initiatives at the Urban Land Institute and a leader in promoting best land development practices here and abroad.
LAIGW sent a healthy contingent of nine to the Spring Weekend in Dublin and Belfast. Some members followed up in Washington, participating in a special showing at Union Station of the proposed Titanic Quarter urban regeneration project on the site of a former shipbuilding yard in Belfast’s docklands.
Since the Spring Weekend, the chapter’s well attended luncheons have featured presentations by chapter member Greg Leisch, Chief Executive of the real estate consulting firm, Delta Associates, on the current performance and outlook for the office, apartment and condominium sectors in the Washington Metropolitan area, and Washington, DC’s new planning director, Harriet Tregoning, former executive director of the Smart Growth Leadership Institute, on the smart growth initiatives she intends to promote in the capital city.
Rosalyn Doggett, George Washington Chapter Scribe
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Orange County Chapter:
The chapter is on summer break and will resume meetings at the time of the combined meeting with Los Angeles on Wednesday, September 19th. We plan a very special joint meeting, which includes a tour of the new, impressive Segerstrom Hall for the Performing Arts in Orange County. This venue has received resounding cheers from all parts of the Arts, Concert and Entertainment world. Our tour will be followed by lunch at the adjacent Center Club, one of Orange County's most exclusive private clubs.
Pat Neal, Orange County Chapter President
Phoenix Chapter:
The 13th Annual LAI Phoenix, Valley Partnership and ULI Arizona Fall Real Estate Seminar is just around the corner, September 12, 2007. This year’s seminar features William H. Hudnut, III. Bill Hudnut currently occupies the Urban Land Institute/Joseph C. Canizaro Chair for Public Policy. Sponsorship opportunities and registration information is on our website at www.lai-phx.org.
Other dates to mark on your calendar:
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Valley Ho Hotel – Phoenix Spring 2008
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October 19th – Phoenix Chapter Breakfast Meeting – Phoenix Country Club
November 15th – Emerging Trends Lunch Program – Arizona Biltmore
November 28th – Holiday Party and New Member Induction Ceremony – Valley Ho (reception on the rooftop – you won’t want to miss this!). You can nominate a colleague for consideration by the membership committee on our website at http://www.lai-phx.org/displayemailforms.cfm?emailformnbr=71683
Thanks to all of our members support and our new fundraising efforts, we have been able to donate $6,000 to the ASU Scholarship Foundation in a partnership with ULI Arizona a total of $18,000 was provided to students in the MRED, College of Design and the WP Carey School of Business!
Finally, I would like to encourage all of you to attend the 36th Biennial LAI weekend Biennial in Los Angeles, CA, USA,. Please feel free to make your room reservations for and watch for the registration and schedule of events very soon! This will give you a great insight into what our chapter will be holding in the Spring of 2008 at the Valley Ho. I will be contacting many of you very soon to assist our planning committee in scheduling the many tours and learning sessions. The Valley Ho Hotel has been secured as our host hotel, which is sure to be a big hit with our national members. If you are interested in joining this planning committee or you have a project you would like to be considered, please call me at 602-229-5974 or email me at steven.gragg@cushwake.com
Steven Gragg, Phoenix Chapter President
Ed. Note: The chapter is partnering with ULI to provide a tremendous contribution to future professionals in the land economics field through their gifts to students at Arizona State University. May be a cause other chapters would like to champion.
Simcoe Chapter:
Hearing about Idiosyncrasies of Planning/Developing in China and Russia
The Chapter recently heard a presentation from Mr. Philip Weinstein, a senior partner of Toronto-based firm The Planning Partnership, about his experience practicing both community planning and architecture in Russia and China. He has been involved in these countries for the last five years, and this includes five trips to China and four trips to Russia. Of his projects, three are currently under construction in China and two in Russia.
The Chapter invited Mr. Weinstein to speak because it wanted to hear from a Canadian consultant who had taken advantage of these large markets, as it is not uncommon for Canadian professions in real-estate related disciplines to be involved in international projects. The evening provided Chapter members with not only fascinating information, but also insights for their own professional development.
You can view the plans that Philip prepared on the Simcoe Chapter website: www.lai-simcoe.org. While you are looking at these plans you can scan the summary below, which shares some interesting and astonishing characteristics Philip learned about planning and development in these two countries.
In Both China and Russia:
| ‘give and receive’ |
Gift giving and receiving in business situations is an established tradition at least at a souvenir level—for example, a short presentation at an academic institution can result in fruit baskets and ceramic figures being sent to your hotel room as a thank you. |
In China:
| ‘cars and more cars’ |
Car ownership at present is about 20 million, but is projected to be 250 million in 2020 (an 820% increase in a decade!), subject to the availability of a fuel. |
| ‘who owns the land?’ |
Urban land is virtually all state-owned with lease rights provided for development. Urban land, however, is only about 30% of the total land in the country. |
| ‘bigger is better’ |
An overwhelming sense of the development projects is that the bigger they are the better they are. In Nanchang, building setbacks are to be over 120 m in new plans just about twice that of the Champs Elysée. |
| ‘what context?’ |
Compared to North America, the approach to development has a disconnect in terms of both sense of scale and regard for the surrounding context. The primary objective is to create a superb standalone development, regardless of its context in terms of either use or scale. |
| ‘seven stories is cool’ |
In a number of areas buildings were universally seven stories high, since that was the height one could build without elevators. Their orientation was such that there was ventilation through single-loaded units. While most people owned air-conditioners, frequently there was not enough energy available to use them! Therefore, the natural ventilation achieved with building orientation was critical. |
In Russia:
‘single detached;
a rarity and
very large’ |
Most housing stock in Moscow is in 20-storey concrete buildings often called ‘Kruschevos’. Historically, single-detached housing was a rarity; a suburban ‘dascha’ was a cottage first developed for the upper class in the early part of the 20th century (such as the one from Dr. Zhivago). These were usually about 11,000 sq. ft. in size. This history means that most projects contain only a few single-detached housing units and they are extremely large both in lot and unit size. |
‘‘where are the
cars?’’ |
Current car-ownership rates in the non-urban areas are extremely low at about 240 cars per 1000 people. It is projected to increase comparably modestly to 320 cars per 1000 by 2010, a 200% increase per decade. |
| ‘private enterprise still new ’ |
The concept of private enterprise is still in its ‘first generation’ with the rules being formulated and reformulated on virtually a daily basis. The concept of buying and selling intellectual property, such as design and architectural services, is virtually not recognized, with changes to prepared plans being done on a relatively indiscriminate basis and abundant ‘plan-copying’. |
Scott Burns, Simcoe Chapter Director of Communications
<Ed. Note: How many chapters have professionals that consult overseas!?! Or want to? What a great idea to invite them in to share experiences and information about land ownership, development etc.>
Zia Chapter:
The membership elected new officers and board of directors for the first time since Zia was founded. They are:
President ..Tom Mills
Vice-President ..Programs.. Ken Hughes
Vice-President..Membership.. Susan Turner (Suby) Bowden
Treasurer…David Henkel
Secretary…Moo Thorpe
At Large Director..Anne Honstein
Michael Maremont remains a Director as Immediate Past President
The new board will take office at the annual meeting September 4th.
Also at the annual meeting the following candidates, voted into membership at the chapter’s July 25th meeting, will be inducted:
Julie B. Rose
John J. Kelly
Jens W. Deichmann
Claudia Meyer Horn
John Mahoney
Lee Peters
Ed Rosenthal
Dolores I. Vigil
Deborah Webster
Greg Witherspoon
Donald H. Wiviott
Steven Brugger
Michael Baron
David Barker
Frank Padilla
Lawrence Rael
Ben Woods
These individuals represent both the public and private sectors and are from diverse areas of the state. They are all distinguished in their fields and welcome additions to Lambda Alpha International.
Zia Chapter members heard a particularly fascinating presentation at our July meeting from Susan Henderson, Principal and Director of Design of Placemakers, LLC. Susan spoke on “Getting to Smart Growth through a Form-Based (Zoning) Code”. Her Albuquerque based firm is working with a number of New Mexico communities as well as others across the country to try to assist municipal governing bodies to effectuate such change.
Our next major event will be our chapter’s annual meeting and induction ceremony to be held near Albuquerque on September 4th.. Our keynote speaker will be Ed Mazria, a Santa Fe architect who has gained international attention through his non-profit ARCHITECTURE 2030 Foundation and is much in demand to speak on what can be done directly by real estate developers and builders to further environmentally friendly development..
Zia hopes that one of its new officers can represent the chapter in Los Angeles.
In the meanwhile we are alive and well here in the Land of Enchantment.!
Michael Maremont, Zia Chapter President
<Ed. Note: It’s wonderful to see the maturity of the Zia Chapter! In such a short time they have advanced from a gleam in a few peoples’ eye, to having an “immediate past president”! Special recognition to Michael Maremont and all who are providing such a vital place for the real estate community to come together and share their professional knowledge. Well done! Congratulations from us all!>
International Member At Large - India
I greatly enjoyed the interesting trip to Ireland and meeting many people as well as seeing the interesting projects.
It is really appreciated that LAI has forwarded the of "Global Expression of Interest" invitation to international developers and all concerned members. This development will transform Dharavi, one of the largest slums in the world, into an integrated township of Mumbai with all modern amenities and complete infrastructure.
I hope to report on the results to the eligible bidders who have applied. The last date of receipt of documents was June 30th, 2007 and required a payment of INR 1,000, 000 in form of Demand Draft in favour of "Slum Rehabilitation Authority" (SRA) and on production of attested copies (along with originals for verification) of valid registration certificate and works contract tax no. / certificate. The receipt of EOI was on July 31st, 2007. Therefore only serious bidders should be the ones applying. For further queries one can contact Mr. Mukesh Mehta, Project Management Consultant on Mobile 91-9820013405 or by email:
msmmconsultants@gmail.com. The address is:
Slum Rehabilitation Authority
Govt. of Maharashtra
5th Floor, Griha Nirman Bhavan
Bandra (E), Mumbai - 400 051
Maharashtra, India
Anilkumar Hatkar
Announcements
Administration Matters!
LAI 36th Biennial Congress:
Preparations are being completed for the 36th Biennial being held in Los Angeles, CA. October 18-21, 2007. The host Hotel will be the Fairmont Miramar Hotel. To make a room reservation, please call global) 1-800-441-1414 and ask for the LAI rate of $269.00. Please feel free to make your room reservations NOW and the registration and schedule of events will be out very soon!
Web Site – Presentations:
We have also just recently added a new feature to the LAI website, under the "members only" section. The new feature is called Presentations. If you are interested in viewing the presentations from the Economics Weekends, they are now available. The current presentations are from our Ireland Trip.
I hope you are making plans to join us for the 36th Biennial! Enjoy the rest of the summer.
Terry Stevenson
LAI Executive Director
Save the Date ! ! !
Los Angeles, CA Fall Land Economics Weekend
October 18 - October 20, 2007
LAI's 37th Biennial Congress
The Fairmont Miramar Hotel
Reservations
Rates: Single: $269, Double: $289, plus tax
(310) 576-7777
Phoenix, AZ, Spring Land Economics Weekend
April 30- May 4, 2008
More details coming soon!
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