[Crealums] MIT/CRE E-NEWSLETTER -- April 2005

Thu Apr 21 16:32:05 EDT 2005

MITCenter for Real Estate

Elite  o    Visionary    o    Relevant

Greetings!

Included in this edition of the MIT/CRE Alumni/ae E-newsletter are the
following:

*	

	The following Item has been added to MITREX (
<http://cre-mitrex.mit.edu/index.html>
http://cre-mitrex.mit.edu/index.html):
Transactions-Based Index of Institutional Real Estate Investment 

*	

	Housing Affordability Initiative
(http://web.mit.edu/cre/research/hai/index.html)
*	

	Center for Real Estate Data Laboratory, CREDL, Working Paper
Announced
*	

	2005 Professional Development Courses
(http://web.mit.edu/cre/conted/courses.html)

*	

	Save the Dates (New York Trip!, Asia FIRE, ICSC)
*	

	Slide Show of Alumni & Alumni Projects (See Also Side Bar,
<http://web.mit.edu/cre/alumni/index.html>
http://web.mit.edu/cre/alumni/index.html)

*	

	Reminders and Notices (Alumni Directory, MITREX, Class of 2005
Resume Book, and Job Postings!
links are also in MITREX)

Housing Affordability Initiative
Effects of Mixed-Income, Multi-Family Housing Developments on Single-Family
Housing Values -- April 27, 2005
 <http://web.mit.edu/cre/research/hai/index.html>
http://web.mit.edu/cre/research/hai/index.html

Chapter 40B is a Massachusetts statute that enables developers to obtain
state-authorized comprehensive permits in municipalities that are not in
compliance with state affordability criteria.  Developments seeking
comprehensive zoning permits can override local zoning regulations if less
than ten percent of the municipality's housing stock is defined as
affordable.   The ability of developers to circumvent local controls has led
to the fear that home values surrounding these 40B developments will
decrease.   Is this fear based on experience?  More specifically, do
large-scale, high-density, mixed-income rental developments negatively
impact nearby single-family values in suburban Boston communities?  --
("Effects of Mixed-Income, Multi-Family Housing Development on Single-Family
Housing Values: Executive Summary")

The findings of the Center for Real Estate's inquiry into this topic will be
presented and discussed on April 27, 2005 at One Beacon Street.  While the
event is free, pre-registration is required.  To register for the event
visit the following URL:  <http://web.mit.edu/cre/research/hai/index.html>
http://web.mit.edu/cre/research/hai/index.html.

A follow up conference will present additional aspects of the Housing
Affordability Initiative's work.  This all-day conference is scheduled for
May 25, 2005 at MIT.  Details will be posted on the Center's web site on
April 28, 2005.

Center for Real Estate Data Laboratory (CRED) Working Paper Presented at
ARES Conference
 <http://cre-mitrex.mit.edu/index.html> http://cre-mitrex.mit.edu/index.html

CREDL is an initiative of the MIT Center for Real Estate. The objective is
to provide a “space” (virtual and real) for the development, refinement, and
dissemination of quantitative measures of commercial property performance.
This includes any dimension of performance: investment -- operational,
economic, engineering, environmental.  CREDL is meant to provide a place to
gather data, develop methodologies and tools, and provide a forum for
analysis and perspective.  

One of the initial products of CREDL is a quarterly, transaction-based
index.  The work was presented by Drs. David Geltner, Henry Pollakowski, and
Jeff Fisher during the American Real Estate Society's annual meeting in New
Mexico.   The work is preliminary, but the paper and Power Point
presentation "describe and hone a methodology by which a quarterly
transactions-based index of property-level investment performance may be
regularly produced for the U.S. institutional real estate investment
industry.  The objective is to produce a series of indices of investment
periodic total returns and capital appreciation (or price-changes) for the
major property types included in the NCREIF Property Index.  These indexes
are based on transaction prices so as to avoid appraisal-based sources of
index 'smoothing' and lagging bias."  (A Quarterly Transactions-Based Index
of Institutional Real Estate Investment Performance and Movements in Supply
and Demand by Jeff Fisher*, David Geltner**, & Henry Pollakowski*** )

This work promises to be an important tool for institutional investors.  Get
an early look!

Professional Development Courses
http://web.mit.edu/cre/conted/courses.html

The Center for Real Estate will be offering eight courses as a part of its
summer Professional Development program.  While the course list includes
such stalwarts as "Real Estate Markets" and "Fundamentals of Real Estate
Finance," there are a number of new courses as well.  "Topics in Real Estate
Development" will focus on four topics that are being discussed by virtually
every developer -- building for the life sciences, technology and
development, sustainable  or "green" development, and brownfields.  In
addition, as an offshoot of the work being done by the Center in housing, we
are offering a course that looks at the differences and similarities between
the issues of housing affordability and affordable housing.  The summer
promises to be an exciting time to return to the Center and retool or in the
"words" of the 20th Anniversary -- REfresh, REvisit, and REdiscover.

SAVE THE DATES!

The MIT/CRE Class of 2005 is Coming to New York City 
April 28 & 29, 2005
 <http://web.mit.edu/cre/events/events/nytrip2005.html>
http://web.mit.edu/cre/events/events/nytrip2005.html

The Center for Real Estate will be conducting its annual visit to New York's
investment banks.  There will be an alumni/ae  reception the evening of
Thursday, April 28th at St. Barts Cafe.  For more information about the
plans, contact Rachel Matthai at  <mailto:rmatthai at alum.mit.edu>
rmatthai at alum.mit.edu and/or visit the "events" URL on the Center's web
site: http://web.mit.edu/cre/events/index.html.

CRE FIRE -- Asia 
May 17, 18, & 19, 2005
http://web.mit.edu/cre/events/events/cre-fire.html
Stay tuned to our web site for updates!  

*	

	May 17, 2005 
Beijing, China -- Sponsored by Merrill Lynch 
Location:  Capital Mansion, Floor 50, 6 Xin Yuan Nan Road, Chao Yang
District
Topic:      Global Trends in Real Estate Capital Markets
Time:        6:30pm

*	

	May 18, 2005
Tsinghua University (http://www.tsinghua.edu.cn/eng/)
Topic:         Global Trends in Real Estate Capital Markets
Time:        6:30pm

*	

	May 19, 2005
Shanghai, China  
Topic:      Global Trends in Real Estate Capital Markets
Time:        6:30pm

ICSC -- Las Vegas
May 23, 2005
Calling all alums!  Calling all alums!  At 7pm on Monday, May 23rd, a group
of MIT/CRE alumni led by Jay Timon ('98), Jay Hooper ('98), and Jake Boyer
('99) will be meeting at  The Capital Grille - Las Vegas
(http://www.thecapitalgrille.com/Locations/LasVegas/Main.asp?Location=L)
<http://www.thecapitalgrille.com/Locations/LasVegas/Main.asp?Location=L)
for> for dinner and drinks.  In the past these gatherings have been as
useful as they have been fun.   Interested parties should give Jay Timon a
call at 800-277-0606, ext. 205.   If you are in Las Vegas on May 23rd, I
encourage you to attend!

MIT/CRE's Housing Affordability Conference. 
May 25, 2005

The Center for Real Estate is sponsoring a conference on housing
affordability in the Boston metropolitan area.  Expanding on the findings
released at our April 27th meeting, the conference will spotlight the work
currently underway by Professor Lynn Fisher and Research Associate Dr. Henry
Pollakowski.  The Housing Affordability Initiative is being supported by the
major housing organizations in the Boston area and the conference promises
to be highly informative.

Slide Show of Alumni & Alumni Projects 
(See Also Side Bar,  <http://web.mit.edu/cre/alumni/index.html>
http://web.mit.edu/cre/alumni/index.html)

One of the most popular MITREX downloads was the Gala Slide Show that was
prepared by Marylynn Gentry ('88).  In fact, the slide show was so
impressive, we decided to make it available for the general public.  Visit
the alumni web page and take a look!

Reminders and Notices 

*	Support the Center for Real Estate (
<http://web.mit.edu/giving/priorities/schools/architecture/cre.html>
http://web.mit.edu/giving/priorities/schools/architecture/cre.html).   The
need for funding to support the "new vision" of the Center is ongoing.
Please continue your support! 

*	Center for Real Estate Alumni Directory.  The 2005 Directory has
been completed!  To request an electronic copy of the CRE Alumni Directory,
e-mail Marion Cunningham at  <mailto:marionoc at mit.edu> marionoc at mit.edu. 

*	Join the Alumni Association of the CRE, AACRE (
<https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189>
https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189). Thanks to
joining the larger MIT Alumni Association, CRE Alumni can pay their dues on
line.  Log in using your Infinite Connection login.  Select the dues type
you'd like to pay from the simple, secure, one-page form. Enter your billing
and credit card information, and your dues are paid for this fiscal year
(7/1 to 6/30).  If you would prefer to complete your membership by mail, go
to the CRE alumni web site ( <http://web.mit.edu/cre/alumni/index.html)  and
download the membership form> http://web.mit.edu/cre/alumni/index.html)  and
download the membership form.  

*	MIT Real Estate Exchange, MITREX (
<http://cre-mitrex.mit.edu/index.html>
http://cre-mitrex.mit.edu/index.html).  MITREX  is a searchable database
that  can be used to find documents of specific interest and alumni/ae and
members with expertise or interests in specific areas. Currently, MITREX now
has 288 members and 260 items that have been contributed. Membership is
growing at an impressive rate; this promises to be an invaluable tool.   

*	MIT/CRE Resume Book ( <http://web.mit.edu/cre/resumehome.html>
http://web.mit.edu/cre/resumehome.html).  The Class of 2005 resume book has
joined the Class of 2004 resume book on line.  Take a look, our students and
graduates are impressive! 

*	Note New URL!! Job Listings (
<http://web.mit.edu/cre/jobs/index.html>
http://web.mit.edu/cre/jobs/index.html).  Have a job you want to fill or
seeking a new opportunity?  We have the right person and the right job!
Send your job listings to  <mailto:marionoc at mit.edu> marionoc at mit.edu and
they will be posted.  

*	Update Your Alumni Contact Information (
<http://web.mit.edu/cre/alumni/alumupdate.html>
http://web.mit.edu/cre/alumni/alumupdate.html).  We want to stay in touch
and keep you informed.  To help us do so, please use this URL to update your
contact information.  

*	Alumni Network Services ( <http://alum.mit.edu/index.html>
http://alum.mit.edu/index.html).  Visit the MIT Alumni Association's web
site to find addresses and contact information for classmates.  

*	Alumni Projects ( <http://web.mit.edu/cre/alumni/index.html>
http://web.mit.edu/cre/alumni/index.html and
<http://web.mit.edu/cre/alumni/alumprojects.html and
http://web.mit.edu/cre/alumni/index.html>
http://web.mit.edu/cre/alumni/alumprojects.html ).  Send me (
<mailto:marionoc at mit.edu> marionoc at mit.edu) notices of your projects,
publications, promotions, and noteworthy events for posting on the MIT/CRE
web site.   

Best regards,

Marion O. Cunningham
Managing  Director
MIT/Center for Real Estate
77 Massachusetts Avenue
W31-310
Cambridge, MA   02139-4307
Phone:  (617) 253-2680
Fax:       (617) 258-6991
 <http://web.mit.edu/cre/> http://web.mit.edu/cre/

CRE:  20 Years of Building the Future

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