Thursday, June 24, 2010

June 17th, 2010- Sustainability!--Class 2


Dr. Forgey gave us a warm welcome with a few questions right off the bat. As a class, we engaged into a discussion about the 3 E's that are the backbone of "Sustainable Development."

Q1- How do we become more efficient, effective & equitable from this point forward?

Class input→ A lot of our neighborhoods that are being built today are “disposable” in nature, and are meant to be consumed and rebuilt into some other land use after shorter periods of time now days. Opposed to building in a "flexible" manner, developers still have not been as receptive to building this way (other than industrial/office flex space). The lack of more varieties of flex space can be largely credited to the local regulatory powers. Things such as parking ratios, zoning variances, and noise complaints are a few to consider when analyzing why it is taking a long time for everyone to get on the same learning curve. Dr. Forgey feels as if the “lifeblood” of a true urban core cannot be found in “suburbian hell.” Flexibility is a key component; to be able to use structures later down the road to reduce the consumption of resources. Efficiency by definition is being the most productive with your input capabilities, ultimately yielding the greatest output; in terms of real estate this would be measured by potential rental income. Effectiveness is actually going out and finishing what you have set out to finish. “Equitable” leans to a meaning of doing the right thing for the right reasons, with a minimization of negative outcomes on others; basically trying to avoid zero-sum game and being as fair as possible.

An intriguing correlation between Leadership, Management, Effectiveness, & Efficiency was made quoting a saying by Peter Drucker:

“Doing the right thing (leadership & effectiveness), and doing things right(management & efficiency)”


OFFICE BUILDINGS---Brief class discussion based on the following article
www.wbdg.org/design/office.php

-Productivity—how can all of the extra amenities and features actually produce productivity, and how can it be measured?

-Flexibility of your space is very important so that it is organic over periods of time. Being able to internally shift things around all the way to changing the use of the space; can you secure financing at a lower rate due to this flexibility?

http://www.commercialexchange.com/index.php/posts/leed-certified-the-future-of-office-buildings/


How do we feel about Governmental involvement in the Green movement? At what point should they stay out of or intervene in the point of sustainability and building standards…?

Thursday, June 10, 2010

June 10th, 2010, First night of class!!!





*Subtropolis is an underground industrial complex created at the site of an outdated limestone query. Developed by Hunt Midwest, a Lamar Hunt subsidiary.
Summer 1 has officially begun, and the markets have been interesting to watch the past few weeks since our Real Estate Study Tour (my other blog can be seen at www.vishalmakan.blogspot.com).

The topic of Educational/Employment trends for new graduates is where we started off, and it brought along with it topics with no tangential limitations (partly due to Jason's inquisitive nature).

*Bank of America Tower, NYC –First LEED Platinum Skyscraper in USA
--storn water usage through usage
--ceramic dots on windows to deflect sun rays in the summer
--chilled water/hot water piping on ground floor lobby for temperature control, along with air vents on ground instead of overhead

*Employers are trending to hire those that are not only educated ABOVE bachelor level, and are well versed in the industry they are entering and also are well rounded to be as flexible with all of the changes that occur in the marketplace.

*Senior Housing/Assisted living marketplace is going to be interesting due to the baby boomer retirement age which is looming…opportunities will surface if you focus on contacting the players in that specific niche market.

*Internships are analogous to dating fof Dr. Forgey; he thinks that if you intern enough, just like dating, you’ll have a good understanding of where you want to be after all is said and done.

*Also recommends to throw yourself in front of people/firms you would like to work with

*Implications of online education is very interesting. Uof Phoenix and others are seeing a good growth trend. MIT has put ALL or their course materials online for free. Are they worth as much and do employers encourage them?

*Professional associations like the Urban Land Institute are the most comprehensive for obtaining a full experience in real estate on a local level in D/FW.