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Featured Stories
Minneapolis Land Economics Weekend,
May 13-15, 2010
We’ll kick off the LEW on Thursday with a reception at Windows on Minnesota, located on the fiftieth floor of the magnificent IDS Center—a 1970s icon by architect Phillip Johnson. The panoramic vistas offer an overview of some of the sites we will be seeing in the next two days.
The elegant Bank Restaurant in the Westin Hotel, where the conference will be based.
Friday morning starts with continental breakfast at the Westin Hotel’s Bank Restaurant, a recent repurposing of a stunning 1940s banking hall. The LEW will be based in this hotel, situated in the heart of Minneapolis’s downtown financial district and less than a block from the Nicollet Mall, a renowned retail corridor. Our first session will be at the Guthrie Theater, a recent creation of Parisian “starchitect” Jean Nouvel. Our panel will provide an introduction to the geography, history, politics, and governance of the Twin Cities. Speakers will include the chair of the Metropolitan Council and other community leaders.
We'll be checking out Saint Paul's riverfront redevelopment on a river cruise.
After a tour of the revitalized Mississippi riverfront that edges downtown, we’ll head to Target Field, the new Twins ballpark, which opens in April 2010. In the glass-walled Metropolitan Club overlooking the field and the downtown skyline, we will enjoy lunch and hear about the development of the facility and the multimodal transit that is incorporated into its design. Congressman Jim Oberstar has been invited to discuss his vision for a new framework for federal transportation policy and investment. We will also discuss Minneapolis planning opportunities and challenges today and in the future.
One session will be in Target Field, the new home of the Minnesota Twins.
We will then focus on Saint Paul with its plans to capitalize on the imminent construction of the Central Corridor light-rail line between the two downtowns to stimulate new development. Our bus will pass through the University of Minnesota campus en route to an overview tour of downtown Saint Paul, where we will drive by the theater where Garrison Keillor produces the “Prairie Home Companion” show. Across the river on Harriet Island, we will board a boat for a dinner cruise and tour on the Mississippi. Heading back to the hotel, we will drive down Saint Paul’s famed Summit Avenue, which is lined with mansions and rich with associations with F. Scott Fitzgerald.
Saturday starts with a tour of the Chain of Lakes, part of Minneapolis’s nineteenth-century park system that served as the armature for the city’s growth. We will stop at an important commercial node in Edina, a prosperous first-ring suburb that has creatively addressed teardowns in the adjacent historic Country Club residential district. Edina is also home to Southdale, the country’s first enclosed shopping mall. We will tour some of the redevelopment around the mall as the city adapts to changing demographics and needs.
A short drive will bring us to the University of Minnesota Landscape Arboretum, with more than 1,000 acres of formal gardens, specimen plantings, and natural areas. Experimental programs at the arboretum have produced varieties of apples (most famously, the Honeycrisp), grapes, and other plants that thrive in northern climates. Over lunch, our speakers will highlight these innovative programs.
On the way back to Minneapolis, we will stop at Excelsior and Grand, a new urbanism development in the inner-ring suburb of Saint Louis Park, before heading to the inner-city Midtown Exchange project. Originally built as a Sears store and wholesale warehouse, a recent rehabilitation converted this abandoned, one-million square-foot structure into offices, apartments, condominiums, and the unique retail “Global Market.”
The day would not be complete without a cocktail reception. After a break at the hotel, we will head to the offices of RSP Architects in the renovated Grain Belt Brewhouse for hors d’oeuvres and a tour of this remarkable building, which sat vacant for a quarter of a century before its stunning transformation.
And after that—we hope that you will stay in town and do some exploring on your own!
Minneapolis, Minnesota, Spring Land Economics Weekend
May 13-15, 2010
The Westin, Minneapolis, MN
Hotel Reservations Rates:
*$119.00US + taxes Single/Double
Phone: 1-888-627-8343
Watch for more information in the coming months!
Charlene Roise, Chapter Scribe
Letter from the President
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Les Pollock
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Last week I travelled to Atlanta to help initiate the new members of the recently chartered Atlanta Chapter. It was a fitting completion to my two year presidency, participating in the growth and expansion of the society. Indeed, the past two years have seen a number of significant gains for the organization. These include the adoption of the Society’s strategic plan, establishment of the Irish and Atlanta chapters, induction of a core of at-large members in Denver who are working toward the establishment of chapter there, building relationships in India and Spain which may lead to new chapters within those countries, conduct of highly successful Land Economics weekends in Phoenix, Vancouver, Toronto and Chicago, and the retention of a new administrator, Non-Profit Solutions, based in Minneapolis.
None of this happens automatically. As a volunteer organization these activities rely upon the commitment and hard work of our members, all of whom lead busy professional lives. With that in mind I want to thank the members of your Board of Governors for their commitment to the organization, and especially thank the members of the executive committee (you can find all their names on our letterhead) for the time and effort given to the organization.
As I take leave of my position, and hand the gavel to Dr. Karen Sieracki of London, I believe that the Society is poised to move forward and grow its membership and its services. This is important to all of us, because a larger, well organized Society increases the range of our potential individual contacts, allowing each of us more opportunity for broader peer based discussion, learning and sharing of experiences related to land economics. At its heart, this is the purpose of LAI, and as long as we foster an organization that provides a forum and a vehicle for person to person communication – through chapter meetings and activities, the Land Economics weekends and Biennial Congresses and the web – the better we can assure that it serves this core mission. This type of interaction is something that other, larger organizations can’t provide, and thus, we gain differently from LAI membership than from membership in other organizations. I hope many of you share this outlook, and make the best use of your membership.
Thanks, again, for the opportunity to serve you as president. As I step down from office I look forward to continued interesting meetings, friendships, and learning through LAI. Given the interests and leadership demonstrated by our new Board of Governors I am sure I won’t be disappointed.
Les Pollock
LAI President
lpollock@camiros.com
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Featured Stories
Minneapolis Land Economics Weekend
Letter from the
President
Editor's Column
Chapter Corner
Atlanta Chapter
London Chapter
San Diego Chapter
Land Economics Foundation (LEF)
LEF Grant Program
Announcements
Administration Matters!
Save the Date!
New Members
Production Manager: Michele Meng |
Send your announcements for next edition of KeyNotes to LAI@LAI.org |
Webmaster / Designer: Kathy Keler
For more information about LAI activities, visit the website or contact the International Office: Terry Stevenson, Executive Director
214 N. Hale Street
Wheaton, IL 60187
p: 630/510-4584
f: 630/510-4501 lai@lai.org |
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Helen Sause
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Dear Colleagues,
It is definitely with mixed emotions that I write this last column. The joy is that starting with the January issue of KeyNotes we will have a fine new Editor. Lou Slade has been elected to carry KeyNotes to the next level of its potential. I feel we couldn't be more fortunate. Lou brings fresh eyes to the possibilities of this communication and a lifetime of professional experience so we can all look forward to KeyNotes serving the membership even more effectively.
As for the sorrow, I will miss our monthly thrashing around to get the KeyNotes into our readers hands and the contact with you all that makes it possible. In addition I will miss working directly with the fine KeyNotes team, Michele Meng and Kathy Keler are really the ones who make the KeyNotes readable, between Michele's great memory of the memberships' status, skills with English and common sense, Terry's willingness to pitch in as needed and Kathy's superb web skills, inclusion of photos and willingness to work at all times of the day and weekends we are truly fortunate to have this team. I feel privileged to have worked with these professionals. I am sure that as Michele and Terry prepare to hand over the LAI Administrative tasks they will help LAI's new management firm carry on this high standard of work.
There are always things one wishes they'd accomplished. Some of these include:
- Setting aside time for the Scribes to meet at Land Economic Weekend gatherings;
- Ensuring that the few remaining chapters without scribes can achieve establishment of this office and filling it with interested members, this is a great place to grow officer succession;
- Increase readership as well as circulation (taking a few printed copies to monthly meetings always seemed like a good way to start this;
- Continue to work toward 100% participation for chapters and I am sure Lou will have many other great ideas.
So after four years, I close this role and look forward to my new position as assistant to the International Scribe and pledge to do whatever is helpful to Lou and LAI. I thank each of you and want you to know how much I appreciate your efforts and assistance--the scribes are really the ones who make the KeyNotes work and without you editors are zip!
All the best for 2010 and the future.
Helen Sause
International LAI Editor
helensause@alamedanet.net
Chapter Corner
Atlanta Chapter:
1st Initiation Dinner and Installation of Officers Ceremony
The newly formed Atlanta chapter of Lambda Alpha International held its first Initiation Dinner and Installation of Officers ceremony on Wednesday, December 16, 2009. The Atlanta Chapter was started by Joan Herron, Ely Chapter member for 21 years although a resident of Atlanta for the past 6 years; Leslie Pollock, FAICP, Immediate Past LAI International President; and Ackneil Muldrow II, East Region Vice President. The Atlanta Chapter is the first LAI chapter in the Southeast and was two years “in the making.”
Members include Joan Herron, President (HERRON CONSULTING); Russ Posey, Vice President (The Alter Group); Mike Grella, Treasurer (PriceWaterhouseCoopers); Patsy Jo Hilliard, Secretary (Former Mayor East Point GA); Aasia Mustakeem (Epstein Becker & Green); Allen Dedels (Cooper Carry); Barbara Faga (EDAW); Charles (Chick) Krautler (Atlanta Regional Commission); Charles Whatley (Atlanta Development Authority); David Elam (Fannie Mae); James (Jim) Viviano (Cooper Carry); Paul Martin (Fortius Financial); Robert (Bob) Price (HERRON CONSULTING); Robin Spratlin, (Georgia Power); and Tad Skepaniak (Real Property Research Group).
The Atlanta Chapter brings together a very diverse group of members with complimentary experience, expertise and interests. The group is committed to growing its membership; having a voice on issues; and working together towards positive initiatives in the Atlanta Region.
Thanks to David Elam and Paul Martin who helped “early on,” the LAI Board of Governors and Executive Committee, Terry Stevenson, Michelle Meng and all who helped make the LAI Atlanta Chapter a reality!
Joan H. Herron, President
London Chapter:
The Spanish Property Market--is the fiesta over for the time being?
By Imma Vall, Associate at Property Market Analysis (PMA)
Imma Vall has been analysing the Spanish Property market for the past 5 years, and she demonstrated to us in her talk at our lunch on 10th December 2009 her mastery of the subject, giving us her ideas with flair and humour--but it was a bit like being a cheer-leader at a wake!
Spain has suffered more than most in the current recession, with unemployment approaching 19%, economy decline of 3.8% and running, and profound Budget deficits--it almost made an Englishman feel he was well off and should be thanking Alastair Darling. Imma had no doubt, therefore, that the fiesta was indeed over; it was now the time of the hangover which she could see lasting for 2 years at least. Addressing commercial property, there was an over-supply of offices and retail, with many prestigious schemes being mothballed whilst part-built--ghosts that may haunt the Spanish skyline for some time to come. For built-out vacant office space, lettings were a triumph for the letting agent, and of only partial value to the landlord as rent levels have tumbled c 20% and rent-free periods of 1 year in a 5 year lease were not uncommon. In retail, the larger Spanish companies were surviving, but their life-support comprised closure of units in Spain and reliance on foreign units; it was not uncommon for new shopping centres to open with 40% occupancy--60% would be a dream. Consequently developers are in trouble across the board.
Against this depressing backdrop at the "real" level, there was a surprisingly ebullient investment market for anything of quality--prime site, good tenant. Beyond that, darkness, but, for the farsighted the outline of genuine value. However, if you need finance, no way! Bank lending is effectively unavailable; even for a good client and a bank wishing to help, there is no possibility of syndication, and thus no deal. To those at the lunch, this was something of a surprise, as our impression was that Spanish Banks had come out quite well from the "credit crunch".
Looking to the future, Imma reminded us that the Spanish property market has always been more volatile than most. In large part this has arisen from the economic dominance of construction companies--give them money they will build, without much apparent consciousness of market cycles. In answer to a question, she thought that this might continue to be true in the future--a cautionary thought for a putative investor. However, for commercial space, particularly offices, Spain now had a considerable price advantage; present value levels, anyway in good locations, should, in principle, only go in one direction, but the date of going was not in next year's diary. Nevertheless, we should not forget that Spain is often the point-of-entry of choice for the burgeoning South America economies.
Several questioners raised the problems of the Spanish Residential market. This, Imma agreed, is in greater gloom than commercial property, with a profusion of its own mothballed ghosts. There was little chance of the Government acting as "white knight" because politicians have chosen to demonise residential developers. A 4-year recovery profile seemed the most optimistic possible.
Not the happiest of lunches, then, but in the best of company, and with a talented guide to the body under dissection ? No! Not as bad as that! It will come back to life. Really! And perhaps the best time to buy a corpse is just before it revives.
Michael Mallinson
San Diego Chapter:
The LAI San Diego chapter finished the 2009 event program by shifting our attention away from the city center to San Diego County's rural and suburban communities. The November luncheon brought a presentation from LAI Member Doug Paul on the County of San Diego General Plan Update and its implications for rural communities in the unincorporated area. The County's General Plan Update, which has been underway for more than a decade due to heated controversies over allowable land use densities, is currently under review by the Planning Commission before heading to the Board of Supervisors in 2010. In December, LAI members headed out to the northern reaches of the City of San Diego for a combination tour of the innovative Black Mountain Ranch community and cocktail reception at the Del Sur Ranch. Black Mountain Ranch includes the Santaluz and Del Sur master-planned developments, which are among the most successful new communities in the San Diego region.
Updates on Major Local Civic Projects
Civic Center: The San Diego City Council approved an Exclusive Negotiation Agreement (ENA) with Gerding Edlen of Portland OR for possible development of a new City Hall complex.
Chargers Stadium: Still no definitive site, development proposal, or financing plan for a new football stadium. After consideration of various sites in National City, Chula Vista, Oceanside, and Escondido, the Chargers are now talking to the City of San Diego about a publicly owned site in Downtown San Diego. Centre City Development Corporation (CCDC) has initiated a preliminary feasibility study of the site, located just a few blocks from the Padres' Petco Park. And, after years of promising to develop a new stadium without public financing, the Chargers have announced that any new stadium will, in fact, require a public contribution (example: tax increment financing).
San Ysidro Port of Entry: In December, the Federal government kicked off a $577 million redevelopment of the port of entry at the San Ysidro international border between San Diego and Tijuana, Mexico. Already the world's busiest land border crossing, with 50,000 vehicles and 25,000 pedestrians heading into the U.S. daily, San Ysidro is forecast to experience a 70% increase by 2030. The new border crossing will add vehicular lanes and inspection booths, incorporate a new pedestrian bridge across Interstate 5, and comply with Department of Homeland Security requirements. The entire project is planned for completion by 2014.
Paul Marra, Chapter Director
Land Economics Foundation (LEF)
LEF Grant Program
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 – A mediation program designed to train volunteers in three New York locations to assist the underprivileged in dealing with aggressive landlords. Highly successful program being expanded nationally. |
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$5,000 |
San Diego Canyonlands Video – Created a video on a collaborative basis with several conservation organizations to expose on cable television the critical need to preserve open space canyons as a natural link to other urbanized communities in the county. |
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$5,000 |
Arizona State University Student Chapter – Provided the initial funding to create a graduate student chapter in real estate to function cooperatively with LAI’s Phoenix Chapter; a model for other Chapters. |
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$30,000 |
Burnheim Centennial Celebration – An advanced commitment for LAI to participate with other major real estate organizations in 2009 to recognizing the unique skills of Daniel Burnheim, credited with the masterplanning of Chicago, San Francisco, Washington D.C., Manila, etc. |
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$4,500 |
Ross Minority Program – In cooperation with USC’s Marshall School of Business, LAI is participating with the partial sponsorship of minorities in attendance in a comprehensive, two-week program involving community redevelopment projects, primarily in neglected areas. |
$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. The Master’s Thesis is to be submitted and published by Arizona State University. |
$10,000 |
San Miguel de Allende Land Use Study – A technical work shop involving 15 participants from multiple disciplines will be assembled in Mexico to provide guidance for urban growth patterns, transportation, water management, conservation, etc. for this community of 80,000 people. LAI will be participating with six alliance partners. |
LEF has carefully investigated a number of other proposed projects that it did not fund, primarily because of capital constraints at the point in time the request was made, others due to conflicts with our grant criteria. Without detail, the following were submitted and considered.
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$10,000 |
Tenement Museum Program |
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$10,000 |
World Urban Forum |
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$5,000 |
University of Memphis Scholarships |
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$5,000 |
California State University Scholarships |
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$100,000 |
Lewis Bolan Scholarships (John Hopkins University) |
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$5,000 |
Chicago Architecture Foundation |
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$10,000 |
DePaul University |
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$10,000 |
California State University (Fullerton) Scholarships |
The principal thrust of our efforts has been to promote LAI recognition on a broad scale basis, with particular emphasis on local chapter involvement at numerous levels. We look forward to considering your Chapter’s application, the process can be found on LAI’s website. Please do not hesitate to contact any of the officers for guidance if needed, that is what we are here for.
LEF Board
Download this article in word format
LEF Grant Program (pdf)
Ron Buss, LEF Vice President
Announcements
Administration Matters!
Attention LAI Members! 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.
New LAI Brochures Available!
Please contact LAI@LAI.org to order the New Brochures.
Just A Reminder
Have you visited the Store page on the LAI Website?
Think Holiday or Speaker Gifts!
Please visit the direct URL: http://www.lai.org/go/store/
Save the Date ! ! !
Minneapolis, Minnesota, Spring Land Economics Weekend
May 13-15, 2010
The Westin, Minneapolis, MN
Hotel Reservations Rates:
*$119.00US + taxes Single/Double
Phone: 1-888-627-8343
Watch for more information in the coming months!
Future Land Economics Weekends (Subject to Change)
2010
Fall: New Mexico, Zia Chapter, October 21-23, 2010
2011
Spring: Scotland, June 1-4, 2011
Fall: TBD
New Members
Atlanta
Allen Dedels, AIA, Cooper Carry
David K. Elam, Fannie Mae
Barbara Faga, EDAW Inc.
Michael Grella, PriceWaterhouseCoopers LLP
Joan H. Herron, HERRON CONSULTING LTD.
Patsy Jo Hilliard, City of East Point
Charles Krautler, Atlanta Regional Commission
Paul L. Martin, Fortius Financial & Real Estate Consulting, LLC
Aasia Mustakeem, Epstein Becker & Green
Russell R. Posey II, The Alter Group, Ltd.
Robert L. Price, Herron Consulting
Tad Scepaniak, Real Property Research Group
Robin Spratlin, Georgia Power
James T. Viviano, AIA, Cooper Carry, Inc.
Charles R. Whatley, Jr., Atlanta Development Authority
At-Large Domestic (Denver)
Peter D. Bowes, Bowes and Company
Daniel R. Guimond, Economic & Planning Systems, Inc.
Bruce F. Heitler, Heitler Development, Inc.
Bruce C. O'Donnell, George K. Baum & Company
Stephen B. 'Brad' Power, City of Longmont
Phoenix
Maria Baier, Arizona State Land Department
Jim Belfiore, Belfiore Real Estate Consulting
Wil Cardon, The Cardon Group
Scott Chesney, City of El Mirage
Patricia Clark, First American Exchange Company
Charlie Dunlap, Realty Resolution Advisors
James Feltham, Family Housing Resources, Inc.
John Fortini, Silver Fern Management, LLC
Dr. Charlotte Grant-Cobb
Tom Johnston, Cushman & Wakefield
Quinn Gormley, CHASE Community Development Banking JPMorgan Chase Bank, N.A.
Kevin Ransil, Mark Taylor
John Ruggieri, City of Avondale
Jan Sell, Sell & Associates
William Spreitzer, Wescap Investments
Mark Stapp, ASU MRED
Gerard Vick, ASU WPC RE Finance Program
Beth Jo Zeitzer, ROI Properties
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