[Crealums] MIT/CRE E-NEWSLETTER -- June 2005
Marion Cunningham
marionoc at MIT.EDU
Fri Jun 3 15:02:33 EDT 2005
MITCenter for Real Estate
Elite o Visionary o Relevant
Greetings!
The Alumni/ae E-newsletter will be moving to quarterly production starting
July 1st; the next issue will be in late August/early September. Included
in this edition of the MIT/CRE Alumni/ae E-newsletter are the following
items:
*
The Year in Review -- Support the Center for Real Estate!
*
New Additions to MITREX
( <http://cre-mitrex.mit.edu/index.html>
http://cre-mitrex.mit.edu/index.html):
Documents and Slides from the 1st Annual Housing Affordability Conference
*
Housing Affordability Initiative (
<http://web.mit.edu/cre/research/hai/index.html>
http://web.mit.edu/cre/research/hai/index.html)
*
Commercial Real Estate Data Laboratory, CREDL, Working Paper
*
MIT/CRE on the Move -- New York Trip, Asia FIRE, ICSC, and Class
Trip to Europe
*
Save the Dates!
*
2005 Professional Development Courses (
<http://web.mit.edu/cre/conted/courses.html>
http://web.mit.edu/cre/conted/courses.html)
*
Reminders and Notices (Alumni Directory, MITREX, Class of 2005
Resume Book, and Job Postings! URL links are also in MITREX)
_____
Support the Center for Real Estate and Give Before MIT's Fiscal Year Ends
June 30th!
http://web.mit.edu/cre/giving/index.html
* Successful Fundraising Campaign * Alumni Reunion Weekend * FIRE in
Washington, D.C. * Participation in ULI's New York Conference
* New Century Cities Symposium * 20th Anniversary Weekend * Housing
Affordability Conference * FIRE in Germany * FIRE in China
* MITREX launched (293 members!) * Construction Management successfully
integrated into MIT/CRE
* Three Research Initiatives Launched * PDC's Expanded
Last year at this time, the Center was in the midst of the NewVisions
Campaign. We were engaged in a joint venture to make the Center a
world-class focal point for real estate education, research, and
information. The NewVisions Team worked tirelessly and over half of you
pledged your support. As a result, we raised over $604,000 in three months!
The energy, vision, and commitment that have characterized the past year
have been invigorating. As you read this e-newsletter (as well as previous
ones), I hope it will become obvious that we are partners; and the Center
relies on its graduates to provide access to local markets, to be
"ambassadors" representing the Center in the real estate industry, and to
offer financial support.
Over the last year, we have laid the foundation for great things. We have
three active, relevant, diverse research initiatives -- three more than we
had a year ago. New Century Cities has placed the Center for Real Estate at
the fulcrum of technology and development; while catalyzed by the local
economy, the question of affordability and the quality of life are in the
center of the radar screen for all cities, and the Housing Affordability
Initiative has made the Center a valued voice; and if you sell, buy, or
manage real estate, the transactions-based CREDL (Commercial Real Estate
Data Laboratory) Index will put you ahead of the appraisal curve. We are
not pursuing ivory tower research, we are actively engaged in relevant,
timely, rigorous research. Our meetings and conferences are designed to be
interactive, informative, and interesting. The New Century Cities (January
2005), Vision-Driven Cities (March 2005), and Housing Affordability (April
and May 2005) meetings certainly met all of these requirements.
And we are not staying in Cambridge to tell you about the things that we are
doing! Our Chairman, Tony Ciochetti, and Director, David Geltner, have
traveled to Germany, Santa Fe, Chicago, the United Kingdom, New York, Asia,
Washington, D.C., Salt Lake City, and elsewhere to reach out to alums,
members, and industry representatives. In each location we have had a FIRE
event and/or a smaller gathering. In addition, we are making full use of
technology to post videos, Power Points, and papers on our web site and on
MITREX so that they are as accessible as possible.
The great thing about real estate professionals is that they know how to
"mix business with pleasure." The Alumni Reunion Weekend celebrated our
newest Spaulding Award winner, Randy Nichols, while providing information
about retail real estate, and offering you the opportunity to catch up with
old friends and meet some of our newest alums while enjoying cocktails. The
20th Anniversary weekend started out with an invitation to REfresh, REvisit,
and REdiscover, offered insights into "Vision Driven Developments",
celebrated industry "Visioneers" Hank Spaulding, Gerald Hines and the Hines
company, and the Walt Disney Company, and concluded with an alumni/ae
brunch.
We are doing a great deal. We have done a great deal. And we plan to do
even more. Help us continue to "build the future" by supporting the Center
financially. To make a gift, visit the following URL:
<https://giving.mit.edu/givenow/GiftStart.dyn>
https://giving.mit.edu/givenow/GiftStart.dyn or send your check to Marion
Cunningham at the address below:
Marion O. Cunningham
Managing Director
MIT/Center for Real Estate
77 Massachusetts Avenue
W31-310
Cambridge, MA 02139-4307
Phone: (617) 253-2680
Thank you in advance for your support of the Center. Together we can do
truly great things!
_____
MIT/CRE Housing Affordability Initiative
<http://web.mit.edu/cre/research/hai/index.html>
http://web.mit.edu/cre/research/hai/index.html
1st Annual Housing Affordability Conference -- May 25, 2005
<http://web.mit.edu/cre/research/hai/index.html>
http://web.mit.edu/cre/research/hai/index.html
Anyone living within commuting distance of MIT—and these days that can be
quite a distance — knows the litany: “Policemen and firemen often can't
afford to live in the towns they serve,” said David Geltner, director of
MIT’s Center for Real Estate (MIT/CRE). “Anyone who has kids trying to start
out here knows how hard it is to afford a starter home. Bright students
graduating from this region's universities are leaving rather than staying,
because of the high cost of housing.” Prof. Geltner, opening the May 25
research conference sponsored by MIT/CRE’s Housing Affordability Initiative
(HAI), ticked off the familiar list to underscore why MIT/CRE researchers
have developed a new way of tracking and evaluating the availability of
affordable housing in the Boston metro area. For more information on the
HAI conference, visit MITREX or the following URL:
http://web.mit.edu/cre/research/hai/conference.html
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
MIT/CRE researchers completed a painstaking study of 7 affordable housing
projects in 6 towns in suburban Boston and found that these mixed-income,
high-density rental developments—so-called 40B developments—have no adverse
effects on nearby property values. The projects studied—two in Littleton and
one each in Mansfield, Norwood, Randolph, Wilmington, and Woburn—were
deliberately chosen because they included "suburbanites’ worst nightmares,"
some of the most dense and controversial 40B projects completed in
Massachusetts between 1980 and 2000. If any projects were going to have a
negative effect on local property values, it would be these. For more on
the 40B report, visit MITREX or the following URL:
http://web.mit.edu/cre/research/hai/40b.html
Commercial Real Estate Data Laboratory (CREDL) 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. At the April meeting of the American Real Estate
Society (ARES), Drs. David Geltner, Henry Pollakowski, and Jeff Fisher
presented a preliminary transaction-based performance index for commercial
properties. This work promises to provide an important tool for
institutional investors. Get an early look!
_____
MIT/CRE on the MOVE
The last month has been a buzz of activity and our alums have been at the
heart of it!
* The Class of 2005 had a phenomenal time in the Big Apple where they
met with a number of developers -- The Durst Organization, Hines, Forest
City Ratner to name a few -- joined MIT/CRE graduates at St. Barts Cafe (an
event organized by Rachel Matthai), and reconnoitered with alums for drinks
at McSorley's.
* A few weeks later, Chairman Tony Ciochetti was well received when he
hit China in a big way. Alums Greg Peng (Merrill Lynch), Hong Wang
(Tsinghua University), and Qian Wang (Taurus) arranged for Chairman
Ciochetti to moderate a number of panel discussions on global trends in real
estate capital markets in Beijing and Shanghai.
* While Tony was en route to Cambridge, a group of alums were
attending the annual ICSC convention in Las Vegas. The ICSC is an
awe-inspiring networking event where the Center's alums had their own "mini
meeting".
* This week the Class of 2005 is visiting a number of real estate
companies and projects in London and Cambridge, England and in Berlin and
Frankfurt, Germany. Following visits in the United Kingdom, the class will
travel to Germany where MIT/CRE alum Caroline Lange has arranged a number of
tours and executive meetings. The trip will include presentations by
project managers and executives from companies such as Hines, Stanhope, the
Argent Group, Jones Lang LaSalle, and Tishman Speyer. In addition, while in
London, the Royal Institute of Chartered Surveyors is hosting a reception
for the group.
SAVE THE DATES! -- Stay tuned to our web site for updates!
http://web.mit.edu/cre
ALUMNI/AE REUNION WEEKEND
September 29, 2005 - October 2, 2005
CRE FIRE -- Munich, Germany
October 14, 2005
2:30pm - 5:00pm
http://web.mit.edu/cre/events/events/cre-fire.html
Participants:
1. Tony Ciochetti; MIT Real Estate Center
2. Operator Perspective on US REITs
3. Schulte; European Business School
4. Dr. Hans Volckens; Beiten Burkhardt Rechtsanwaltsges m.b.H
5. International Lender Perspective on REITs
6. HypoVereinsbank Representative – National Lender Perspective
7. Dr. Herbert Grebenc – Head of BMW Real Estate
MIT/CRE OPEN HOUSE
October 24, 2005
6:00pm - 8:00pm
http://web.mit.edu/cre/events/events/openhouse05.html
_____
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. And
remember, members of the AACRE receive a 50% discount on courses so make
sure your membership is up-to-date.
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/cre/giving/index.html>
http://web.mit.edu/cre/giving/index.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 293 members and 288 items that have been contributed. 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 (with contact information) 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/update.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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