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| September 2011 |
The Honorary Society for the Advancement of Land Economics |
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The Value of LAI Student Chapter Membership
Determining what one wants to be when they grow up takes foresight, planning, and education. Preparation can begin early in life or develop as interests are conceptualized. I began flipping houses in the early 2000’s for extra income, read a few real estate related books, and realized my passion for the professional side of commercial real estate, which included investment, finance and management. I flew blindly for the next few years trying to become an expert in real estate investment only to realize I didn’t have the tools necessary to succeed. I read an article about the Bachelors of Science in Real Estate program at Arizona State University and determined to outfit my tool bag. I quickly realized that it was not just about signing up for classes and completing them, networking is vital early on in the education process.
"College students should be heavily networking within their future industry during their junior and senior years of college. While lacking professional experience, the ability to ‘pitch’ yourself to a hiring manager may hold more weight than a submitted resume from an experienced candidate when making a hiring decision. Students should also try to get referrals on any entry-level job leads their new contacts might know of," explains Albert Schuster, president of Networking in Philadelphia.
Many join a fraternity or sorority without the understanding that this is a great networking tool. Planning for my future began in my junior year when I received the honor of being elected as Secretary of Lambda Alpha International’s Student Association (LAISA).
Networking can take shape in many forms including; socially, professionally, or interest oriented. I made the decision to make networking an integral part of my education at Arizona State University, and what enticed me to join LAISA was the intimate setting of the monthly meetings. My decision to join LAISA was based on one’s ability to network with high ranking individuals that are well connected in all sectors of real estate. This decision was just as important as the degree I earned. Through my association with LAISA, I was given the opportunity to apply for and accept a position as a real estate analyst intern at Churchill Commercial Capital, a commercial mortgage banker in Phoenix, Arizona. David Leighton, president of WITI, a company that offers support to professional women through a network of various resources contends that "Networking is work. Everyone wants a fast result. It takes time to make contacts, but once you've made them, they are very valuable”, Schuster agrees. "You need to be proactive when networking. Make sure to engage people as often as possible, and don't wait for them to walk up to you! Networking is but one tool in your belt. You need to take advantage of networking for the opportunities it provides, not be discouraged by the opportunities it may not." The opportunity to serve as President of the Phoenix LAISA chapter this past year continued to solidify my connections with great individuals who are key aides in the development of my real estate career.
Shad Peck, President, Phoenix LAISA Chapter
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Lou Slade
KeyNotes Editor
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The River and the Forest in the City
This week, Washington D.C. celebrated the opening of a new park on the Potomac Riverfront in Georgetown. This park is the last segment of open space parkland to be completed along the Potomac in the city. The city has also been developing a riverfront trail along both sides of the Anacostia River. Much of that trail is complete so that in the foreseeable future, we’ll have an almost continuous riverfront access system for walking and bicycling. Much of this did not exist when we moved here 40 years ago, and it’s a great accomplishment.
The Georgetown riverfront was historically a port and more recently, an industrial site that included a concrete batching plant and a leather tanning factory. These uses generated dust, noise, and pungent unpleasant odors that were not compatible with modern urban life. This all began to change about 40 years ago when a major agreement was made between the landowners, the National Park Service, and a real estate developer. That agreement lead to the development of a large mixed-use development on the waterfront that immediately became a major destination for shopping and dining. I think the success of the development brought people to the waterfront and raised awareness of what could be.
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Georgetown Waterfront Park
Photos and Design by Wallace Roberts and Todd |
Part of that development agreement was a commitment to the development of the park. However, the land designated for park use was put into temporary use as surface hourly parking for visitors to Georgetown, and a surface truck parking facility for municipal trucks. It took another couple decades for citizen-led efforts in partnership with the NPS and the city to clear the way for the development of the park. The final piece of the project included significant financial donations from various sources to pay for the park improvements.
Related to this new park is the fact that you can bicycle from Pittsburgh and other points west to the Nation’s Capital along rail-to-trails and other off-road bicycle and pedestrian facilities. The 185 mile Chesapeake and Ohio Canal Towpath makes up the longest segment of this route. The towpath brings you to edge of downtown Washington via the new Georgetown Waterfront Park. What a grand entry into our downtown area! Several years ago I met a cyclist on the subway whose bicycle was outfitted with panniers and other long distance travel gear. He said he was passing through the city on his way to New England and chose to ride the subway through town before he began pedaling again. Now he’ll stop along the way in Georgetown for a cool one at one of the restaurants along the trail.
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Georgetown Waterfront Park
Photos and Design by Wallace Roberts and Todd |
The riverfront trails are part of an extensive network of open space that ties much of the city together. The riverfront and woodland trails through our parks are heavily used by runners, walkers, dog walkers, baby walkers, birders, and bicyclists. Those of us who are in the parks regularly throughout the year enjoy seeing the seasons progress through the annual cycle: the early spring growth of ground cover, followed by wildflowers, and then flowering and leafing trees and shrubs. The trails provide access to the deep woods in Rock Creek Park where you can get to know the small herds of deer that populate different sections of the woods. I live in a green leafy part of the city, but my forays into the nearby woods and along the river are restoratives for my mind and spirit.
Lou Slade,
International LAI Editor with Michael Hurley, AICP, Associate, Gorove/Slade Associates, Inc.
This is our 6th meeting, after the inauguration one that was held last year in September.
The Chapter Charter, will be officially issued by Karen Sieracki to the Club after receiving it in Glasgow.
We have as Speaker José María Sanchez de la Peña, an important entrepreneur, that will talk about the hotels industry from the perspective of real estate investor and how the market changed due to new technologies in this Spanish industry important sector.
View the invitation to our meeting on Wednesday, September 28, 2011.
Nahigian Awarded MCR Designation - NEWTON, MASSACHUSETTS
Rob Nahigian, FRICS, SIOR, CRE, MCR of Auburndale Realty Co, Newton, Mass. was notified during August, 2011 from CoreNet Global that he has successfully completed his last course during July in Chicago and has now been accredited with the Master of Corporate Real Estate designation. MCR provides essential skills that focus on critical corporate real estate business issues and the mission of the Corporate Real Estate organization in relation to corporate goals. Six courses including 3 required and one Capstone course is required for the designation led by corporate real estate industry experts. The MCR designation is issued by CoreNet Global. CoreNet Global’s mission is to advance the effectiveness of Corporate Real Estate professionals and the entire industry engaged in delivering value to corporations and its real estate departments through the strategic management of corporate real estate and workplace resources. CoreNet Global as an organization has nearly 7,000 members who include 70% of the Fortune 100 and nearly half of the Forbes Global 2000. The MCR designation communicates special competence and successful experience as a corporate real estate expert. Rob has now earned his fourth commercial real estate designation and is the first New England SIOR and CRE member to actively hold the MCR designation. Rob specializes in commercial real estate services and his corporate clients have included Weyerhaeuser Corp., Goldman Sachs, Dunbar Armored Trucks, Rand Worldwide, Health Management Services, Ryder Trucks, Legg Mason, Omnicron, Millipore, Diebold Corp, AT&T Wireless, Mr. Coffee Corp, CB Richard Ellis, SleepHealth Centers, Rizzo Associates and Berkshire Hathaway Real Estate Group.
LEF is a not-for-profit charitable foundation organized to administer an investment fund which provides grants for research projects related to land economics. Over the past three years LEF has committed capital (5% of assets) to a number of significant and worthwhile endeavors across the country on a matching basis with other non-profit entities. The following are projects LEF has funded to-date.
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$5,000 |
Safe Horizon – The Foundation funded $2,500 in the Spring of 2006; another $2,500 in the Fall was matched by another non-profit entity. This Housing Mediation Program was initiated in operation at three Domestic Violence Shelters in Manhattan and Brooklyn, and has been expanded into a 40-hour training program for volunteer mediators. This program has subsequently been expanded nationwide to assist underprivileged/under-educated residents with aggressive landlords, funding support from the IBM Foundation. |
$5,000 |
San Diego Canyonlands Video – This information/education video was concluded and aired on San Diego cabled television stations to further the community’s knowledge on maintaining environmentally significant canyon areas and linking these connectors with nearby urbanizing areas. The preservation of vital open space areas is necessary to maintaining the ecosystems of the county; a mitigation program is now in effect in the County. |
$5,000 |
ASU Graduate Student Chapter – Implemented and monitored by LAI’s Phoenix Chapter, a real estate based graduate student sub-chapter has been successfully formed. Funded on a matching basis by the local chapter, the students enjoy the benefits of real estate community involvement, networking, and clearly a more practical understanding of our industry through monthly meetings plus an annual conference with MIT’s real estate school. The program is in effect and has become a resource for future LAI membership. |
$30,000 |
Burnheim Centennial Celebration – Funded over a four-year period with matching funds from the Ely Chapter, the project allowed Lambda Alpha to directly participate in the presentation of the project in 2009 and share in the promotional benefits of this historic undertaking. Chicago was masterplanned under the leadership of Daniel Burnham, who went on to prepare plans for San Francisco, the National Capital in Washington, Manila, etc. The impacts of this plan are still being felt by planners nationally and, especially, in Chicago where it continues to be viewed as a guide by both the private and public sectors. A textbook resulted from the Chapter’s involvement and has become a recognized resource document. |
$5,000 |
Historic Preservation and Land Use Economics of St. Catherine’s Indian School – St. Catherine’s School is the largest adobe building in the southwest, and as the name implies, was a religious school dictated to the native Indians. Currently programmed for restoration by both the ownership and city of Santa Fe, LEF is co-funding a video and encouraging other prospective developers to recognize the sensitivity of preservation, also to appreciate cultural and economic values of similar public/private endeavors. |
$4,500 |
Ross Minority Program in Real Estate – USC Marshall School of Business; School of Policy Planning & Development meet twice each year; the spring session is a two-week resident program, the six-week winter program is for non-residents and lasts for six weeks. This Certificate Program is an intensively comprehensive, educational program that is designed to provide minority urban developers with the technical expertise and access to resources needed to develop significant urban real estate projects in their communities. The format provides real estate development and finance education for minority entrepreneurs and professionals. It was founded in 1993 by the Community Redevelopment Agency of Los Angeles, USC and others interested in redevelopment. Sponsored by USC, it has graduated over 500 leaders in urban revitalization; LEF has participated on a co-sponsor basis. |
$5,000 |
Light Rail Value Impacts – With the completion and now operational Light Rail system in Phoenix, the Foundation underwrote the cost of updating a ULI study addressing the impact on land uses and values surrounding the stations along the new rail line. A Master’s Thesis was submitted and published by Arizona State University; the study revealed and measured the impact on lands surrounding the METRO stations both in terms of intensity of development as well as the inherent appreciation in property pricing. The information was segmented by community as surrounding land uses affected the ability to recycle land and the constraints on value potential.
Vacant Land Values: A QUASI-EXPERIMENTAL STUDY OF PHOENIX METRO LIGHT RAIL STATIONS |
$10,000 |
San Miguel de Allende Land Use Study – A technical workshop involving fifteen participants from multiple disciplines was assembled in Mexico to provide guidance for urban growth patterns, transportation, water management, conservation, etc. for this community of 80,000 people. LEF participated with six alliance partners. This colonial town in central Mexico is a haven for international visitors, retirees and US second-home expatriates. The prospects for urban sprawl threaten to undermine the quality of the community, the end-product of the workshop provided the local leadership with guidelines to oversee an orderly and disciplined growth pattern. |
$25,000 |
Urbanist Agenda for America’s Cities – The San Francisco Planning and Urban Research Association is undertaking the publishing of a text book of expanded essays involving eight major cites from San Diego to Toronto. The focus of each community study will be the understanding of basic community components from - developmental guidelines to water to transportation – to determine what is successful and what is not. More importantly, why a specific focused program did not function as planned, and to learn from mistakes. An LAI member from each city will be part of the process. |
$7,500 |
John Marshall Law School – Identified as the Kratovil Conference on Real Estate Law & Practice: “40th Anniversary of our Quiet Revolution in Land Use Regulation”, this one day seminar will be hosted by the Law School in Chicago, along with LAI members from the Ely and Hawaii Chapters; the conference will focus on Land Use Regulation, Real Estate Ownership and Development. This high profile endeavor will involve interaction between scholars, leading practitioners, real estate attorneys and industry leaders. The collateral efforts of LAI participants and national exposure through various media outlets are a plus to the organization. |
Steven R. Gragg MAI, FRICS, LEF President
Lambda Alpha International (LAI) has recently created a group on Linkedin.com. Linkedin is an online professional network of more than 60 million professionals in over 150 industries. Linkedin is a great place to exchange information, ideas and opportunities. Linkedin allows you to:
- Stay informed about your contacts and industry,
- Find the people & knowledge you need to achieve your goals, and
- Control your professional identity online.
Our LAI Linkedin group will provide a means to further promote communication and networking among LAI members. Please join us at LAI’s newest place to network: www.linkedin.com.
Forgot how to login? No problem.
Please visit the LAI Website at www.LAI.org. On the left hand side click on the Members Only Tab. Here you will need to use your email and the password is lai.
Sacramento Land Economics Weekend
October 20-22, 2011
The Citizens Hotel, Sacramento, CA
More details and registration available here.
Phoenix Land Economics Weekend
April 20-22, 2012
Phoenix, AZ. More information to come!
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LAMBDA ALPHA INTERNATIONAL
The Honorary Society for the Advancement of Land Economics
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Sponsors/Business Cards:






Place your card here Call 651-917-6257
$250 U.S. for 12 months
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