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The Real Estate Center Newsletter
Developments
June 4, 2007
In This Issue
MacArthur Foundation Awards $3.5 Million Grant
Annual Spring Sponsor Meeting
Hospitality Market Seminar
Summer CPE Courses
2007 Mid-Year Update & Forecast
MacArthur Foundation Awards $3.5 Million Grant to the REC
 
With a $3.5 million grant, the Real Estate Center at DePaul University joined a coalition of Chicago-area real estate, finance, philanthropic, non-profit and government organizations May 31 to launch a multi-faceted program to save affordable rental housing for low- and middle-income families in the Chicago region.
 

The Preservation Compact, a project created by the Urban Land Institute (ULI) with support from the John D. and Catherine T. MacArthur Foundation, seeks to halt the dramatic decrease of affordable rental housing in Cook County by preserving 75,000 existing housing units that might otherwise be lost by 2020.

 

Preservation Compact encompasses six key initiatives that address factors impacting the loss of affordable housing in Cook County and draws on a series of partnerships among local organizations to achieve its goals.  As a partner, The Real Estate Center at DePaul is involved in two of the six initiatives.  One is the creation of a Rental Housing Data Clearinghouse to track the status of affordable rental housing in the region using data from city, county and state agencies and other sources. The database will monitor affordable housing trends among unregulated and government-subsidized rental units in Cook County and issue early warnings about government-supported rental buildings that are at risk of leaving the affordable housing market. The second initiative is the management of an Interagency Council that will work to improve strategy coordination and information flow among governmental agencies dedicated to preserving affordable housing that is at-risk. Both initiatives will be housed at DePaul's College of Commerce on the university's Loop Campus.

 

The Real Estate Center welcomes Marc Smith, Director of the Data Clearinghouse Project and Stacie Young who is joining us as the Interagency Coordinating Council Director.

 
CREC logo 2 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Marc Smith, Director of the Data Clearinghouse Project, Erika Poethig, MacArthur Foundation Program Officer & Stacie Young, Interagency Coordinating Council Director
Annual Spring Sponsor Meeting
 
On May 30th, the founding and sustaining sponsors of The Real Estate Center met to review the progress of the strategic plan.  Sponsors learned that enrollment for graduate programs increased significantly from last academic year to this year: the MBA program grew from 80 to 115 and the MSRE increased from 7 to 21.  In addition, the capital campaign has met 87% of the $16 million goal as of April 2007.
 
The meeting closed with sponsors reviewing and approving the goals and objectives outlined for FY08 including increased revenue through programs and fundraising as well as establishing an off-shore academic program in Thailand and the Czech Republic. 
 
The Hospitality Market Seminar
 
The U.S. lodging market is enjoying another year of expansion, thanks to solid fundamentals, increased capital flows into the sector, and the opening of more foreign markets.  This seminar, organized by RICS and AIA in collaboration with Cushman & Wakefield, will identify where superior performance among luxury brands is occurring and the new trends likely to influence the global hotel industry for the remainder of the decade.  George Ruff, Senior Principal, Trinity Hotel Investors is a featured panelist and Founding Sponsor of The Real Estate Center.
 
The seminar will be held in DePaul's Conference Center on the loop campus on Thursday, June 14th.  The event will begin with a networking reception from 4:00-5:00pm with the program following immediately from 5:00-7:00pm.
 
Cost:
$50 for RICS and AIA Members, DePaul Students/Alumni & Cushman & Wakefield Personnel
 
$65 for Non Members
 
To register please email ricsamericas@rics.org.
Summer CPE Courses
 

The Real Estate Center, in conjunction with the REALTORS Real Estate School of the Chicago Association of Realtors, will be offering the following CPE courses in June and July of 2007:

 
COMMERCIAL & INDUSTRIAL LEASES       
 
Instructor:
  Jana L. Langston, Principal,    Jana Langston
                       Sight on Site, LLC 
Date/Time:  June 11, 2007/ 
                       9:00am-5:00pm    
Fee: $300
 
Registration closes June 6th.  No walk-in or day of registrations will be taken.
 
Course Description
This course demystifies issues affecting both landlords and tenants, as it walks you through the financial, managerial and legal implications of office, industrial and retail leases.
 
 
COMMERCIAL REAL ESTATE APPRAISAL
6 Elective hours of CE credit
 
Instructor:
Ron DeVries, Vice President,     
                       Appraisal Research Counselors
Date/Time: July 10, 2007/ 9:00am-5:00pm     luncheon
Fee: $300
Course License #: 164-1206
 
Registration closes July 3rd.  No walk-in or day of registrations will be taken.
 
Course Description
Real estate appraisals are the benchmark for commercial transactions.  You'll not only learn about the valuation methods used in every appraisal, but also understand how to apply them by working through calculations and examples in class.  Included in your calculations will be market data, as well as ethical, legal and regulatory considerations and their impact on value.
 
 
 
For more information, contact Kathleen O'Hare at
kohare@depaul.edu.
2007 Mid-Year Update & Forecast
 
On Thursday, June 28th, REIA and The Real Estate Center will provide an exciting mid-year report on real estate activity since January 1, 2007.  In addition, they will forecast the remaining year with three panel discussions featuring prominent real estate professionals, all of whom are sponsors of The Real Estate Center.
 
Panels include: What's Real About "GREEN?", moderated by Susanne Cannon; The Housing Bubble, Commodity Costs and Global Trade: What do they have in Common?, moderated by Rich Hanson, Principal of Mesa Development and Going Private, Staying Public: That is the Question.  What is the Answer?, moderated by Neil Freeman, President, Aries Capital. 
 
Featured panelists are:Dr. Ujjval Vyas, Principal, Alberti Group; Vuk Vujovich, Director of Sustainable Design, Legat Architects, Inc.; Dan Walsh, President, Walsh Construction; Douglas Guthrie, President, Kimball Hill Urban Centers; David Hill, Chairman, Kimball Hill Homes; David Neithercut, President and CEO, Equity Residential Properties Trust; Paul Fisher, President, Centerpoint Properties and K. Jay Weaver, Principal, Walton Street Capital.
 
The program will be held at Maggiano's Little Italy at 111 West Grand from 7:30-10:30am.  Registration is $40 for members and $55 for non-members.
 
To view the full program and to register, please click here.
Calendar of Events
June 11
CPE Course: Commercial & Industrial Leases
 
June 11-16
CCIM Course: CI 102
Market Analysis
 
July 10
CPE Course: Commercial Real Estate Appraisal
 
June 14
The Hospitality Market Seminar
 
June 28
 
August 6-10
CCIM Course: CI 101
Financial Analysis
 
August 13-15
CCIM Course: CI 104
Investment Analysis
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