Friday, July 24, 2009

Rethinking A Project Approach: Design/Build/Development Integration & its Possibilities


In the building industry there are an abundance of roles carried out by many different professionals. A typical project may follow a conceptual outline similar to this: a group of visionaries may establish an idea, a designer will help to form the vision, and a builder will help to complete the vision. There are crucial rolls that must be filled whether a project is large or small, including specialists in fields ranging from financial analysts, brokers, developers, engineers, architects, contractors, city planners, to code officials, and many more. Implementing a Design Build Development approach integrates many of these professionals into one entity, providing services that will enable a faster, more quality controlled project for its intended use.


The Master Builder

Buildings have existed for centuries so this is not a new idea, but rather an implementation of an old one. One of the first notable design builders was Filippo Brunelleschi, an architect of the Renaissance time period often referred to as a master builder. (Battisti, 1981)


Brunelleschi was born in Florence, Italy where most of his existing work remains today. His career first began as a master goldsmith, and in the early 1400’s he began to study as an architect/master builder (Battisti, 1981). One of the great things about Brunelleschi was that he had technical experience as well as architectural knowledge, enabling him to fully grasp how things were constructed.
Brunelleschi’s most notable work was the dome he designed and built to complete the Cathedral of Santa Maria de Fiori in Florence, Italy. The construction of the church began in 1296 and was of the Gothic style, but the dome was never fully designed. In 1418 a competition was held and Brunelleschi won after presenting his model and drawings of the dome which was of Renaissance architecture in nature (King, 2000).

Brunelleschi was a mathematical genius and was able to design and present a functioning dome not yet achievable by any of the other designers under the requirements prescribed. He began work on the dome in 1419 and remained fully engaged as master builder on the project from design to construction which was complete in 1436 (King, 2000). The intricacies of this project are obvious and it proved advantageous to integrate design and construction, which made for a more successful outcome.


Contributors to the Process


Over the years roles became more defined between design and construction and the two became very specialized and separate. Recently firms have been dedicated to bringing the concept of the master builder back with the intention of producing a better overall product. The Jersey Devil Design Build (JDDB) organization is a good example of this as they are a group of grass roots architects that have been providing integrated design build services on all their projects over the past 25 years. (JDDB, 2009). Over the years JDDB has traveled from site to site while living in Airstream trailers during the construction of their designs. They dedicated their careers to executing the intricate detail incorporated in their designs, from vision to final completion of construction. As stated by the workshop, “Jersey Devil's architecture shows a concern for craft and detail, an attention to the expressiveness of the construction materials, and a strong environmental consciousness" (JDDB, 2009).

Another major contributor to this design/build movement was Samuel Mockbee, an architect that began the “Rural Studio” in the early 1990’s (Dean, 2002). The Rural Studio was a design initiative used as a vehicle focused on aiding impoverished rural areas across the country. Mockbee would design much needed structures in low income communities while assembling a team of people that would travel to sites and gather building materials. Mockbee also taught at Auburn University, where he implemented this initiative and involved the students as part of a curriculum. Today, many other universities have restructured their programs accordingly.

Each of these contributors had a specific reason for carrying through projects as an integrated approach. The majority of the time the key factor was linked to a faster turnaround time, a cost savings, or retaining an importance to detail. Regardless of their intentions we have learned that integrating various services in the beginning of a project will help to produce a more quality controlled, more aggressive timeframe, and ultimately more budget conscious project.


Possibilities

As an architect working in a Design/Build integrated firm I have experienced how technology has an abundant presence in terms of the design process. It is beneficial to use many programs and incorporate as much information as possible in the beginning of a project in order to avoid future complications. Due to this embraced effort the concept of Building Information Modeling, most often referred to as BIM systems or BIMS, has become very popular. The BIM systems will take a project from a three-dimensional model and use it for cost and phase modeling, while programs such as Revit, Navisworks, InnoVia, and DProfiler will begin to dissect a project design and offer cost analysis, clash detection, phase modeling, and many other visualization tools.


Revit is a three-dimensional software that replaces the standard drafting programs previously used by architects and engineers during the design process. Rather than drafting in a typical two-dimensional format, the project is physically built in the model early on. The model is then passed between consultants for evaluation. The model can also be sent to subcontractors that can easily produce quantity take-offs for their bids. The model can also be transferred to another program called Navisworks, which studies a building with all components assembled for quality control of architectural, structural, mechanical, electrical, plumbing, and any other key components.

This model can be used further for 3D scheduling, where the components of the building are separated into phases. Animation that displays how a complicated project will be built in the time allotted taking into consideration issues of sequencing of materials, construction staging areas, and city ordinances can also be produced from this model. This type of phase model has been used heavily by contractors to forecast the schedule needed to get the project built as clients today are on tight budgets and strict schedules.

One of the most important components of 3D modeling is involving cost analysis in conjunction with early design. DProfiler is an additional program developed that will automatically associate a cost with each material. Its intention is to be used on a collaborative approach integrating the design and construction together.

In today’s economy it is beneficial to have information assembled on a project that will provide as much cost analysis as possible in the pre-design phase. Without this, it becomes impossible to forecast the future. Information established early in the process only enables the project to move further, assuring advancement to a successful completion. The initiative is to search for true hard information to provide the team in order to have better control over a project as it moves forward.
However, there are mixed feelings about this approach as clients are accustomed to the standard approach of the past where the developer hires the architect, the architect draws the building, the contractor prices it, and the building is value engineered until the developer is happy with the budget. Another past approach is when the developer hires the contractor, the contractor controls the architect and the design, and the project is driven by cost only. Both methodologies have caused projects suffer. With this new approach, the developer can come to a design build team and collaborate early on in the project. Communication between development, design, and pricing will eliminated many surprises.

Although old-fashioned clients may have concerns with this because they are giving up some control of the hard bid which usually occurs for the selection of the construction contract at the end of drawing phases, it is a different and more efficient way of understanding.

Integration is a plausible approach when circumstances will gravitate towards rejection if high budgets are not reduced. The projects of the Rural Studio are low income projects which are very cost sensitive, therefore, budget constraints need to be considered as much as the design. In the integrated approach, a project has a better chance of being built if the feasibility is presented properly enabling early secured financing.

With integration, intent of a low income project can be conveyed early in the schematic phase to consultants and subcontractors enabling collaboration on cost effective materials in strategic places for the design. An early bid/award process between subcontractors will provide a preliminary analysis of techniques and building components for the most economical performance. This approach is so efficient, nonprofit projects are moving to design build as an alternative to the traditional method as well.

In the building industry, the United States Green Building Council (USGBC) has become instrumental in promoting certification of energy efficient buildings and sustainable design (USGBC, 2009). The USGBC proposed the LEED rating system at the beginning of the decade, and it has grown immensely since its origination. The LEED certification, which means Leadership in Energy and Environmental Design, is a guideline to follow for building design and construction processes established to promote green practices. (USGBC, 2009)

Since its origination the amount of LEED certified buildings have grown annually (USGBC, 2009). Reasons for certification will vary from owner to owner; one may do it for operation savings, one for the good of the earth, and another for public recognition. USGBC has, however, emphasized the approach of design build integration for LEED certified projects promoting collaboration early on in the design process. A key element in LEED certification is not only regulating architectural components (slabs, walls, roofs), but also to reduce emissions and off gassing of mechanical equipment, energy consumption, demolition, and waste (USGBC, 2009). LEED also promotes energy efficiency and construction standards, which are to be collaborative between the designers and the builders (USGBC, 2009). Sustainability begins with design and ends in the construction and regular maintenance of building, and is naturally implemented much easier with an integrated team.

Another one of today’s building techniques receiving an abundant amount of attention is prefabrication. Prefab buildings incorporate many of the design initiatives discussed; budget, a time sensitive schedule, and a sustainable nature. Designed with the aspect of assembly and construction on the forefront, it is important that prefab buildings be designed and built as one element.

Prefabrication has actually been around for many years which is evident on most buildings. Typically, a pre-cast panel is prefabricated off site and shipped to the building location. Large window systems can also be built off-site and assembled on-site. This process is essential as it helps keep an efficient schedule and remain competitive. However, this is not the type of component we are talking about, but rather taking it one step further to prefab full buildings, portions of buildings, or room by room components.

Prefab buildings are “adaptable, modular, dismountable, light, and mobile” (Bahamon, 2002), and depending on the type of system chosen building components may come in an array of shapes and sizes. Establishing the intent of the prefab building will help to examine the desired performance. Most manufacturers provide full buildings, segmented portions of buildings, or room by room portions.

However, in Prefab, a major obstacle in design is size restriction due to transportation. Once at the building location, storage and assembly issues must be solved. The central plant location is also an important consideration which effects production components depending where an item will be shipped to. Each component of a prefab piece will include electrical, mechanical, and plumbing components that must be planned for as well. Because of these details it is advantageous to assemble a team of specialists to design and coordinate a system including preconstruction estimators, construction specialists, designers, engineers, and development coordinators.

Today, there are more and more companies that promote and rely on the integration between architecture, construction and development. Integrating these aspects is always an interesting path as it uncovers what it takes to get a project built: how to fund it, the various budget constraints, and the overall profits to be made. There are also many strengths provided by people of an array of backgrounds in this business model from architects, contractors, developers, financial analysts, real estate brokers, engineers, code consultants, project managers, site selection researchers, to market analysts, and many more depending on each project.

Integrating services in design, construction, and development will provide information for the client that once had to be sought out with a greater effort. With varying backgrounds, many facets in the building industry could be integrated, providing a more efficient service than the traditional approach over the last century. Knowledge of multiple variations of experience can be used as an advantage to the competitor. As can be seen there are many positive outcomes from the implementation of this integrated Design Build approach. The first step is convincing the client and getting them accustomed with the idea and conveying that it is not a new idea, but actually a recycled idea that has been around for centuries.


References

American Institute of Architects. “Design-Build Knowledge Community.” http://www.aia.org/practicing/groups/kc/AIAS075366?dvid=&recspec=AIAS075366 (20 July 2009)

Arieff, Allison. “Carlos Martin on the PATH Concept Home.” Dwell. April / May 2005, pg. 128

Bahamon, Alejandro. Prefab: Adaptable, Modular, Dismountable, Light, Mobile Architecture. New York: Harper Collins Pulishers, c2002

Battisti, Eugenio. Filippo Brunelleschi: The Complete Work. New York: Rizzoli, 1981.

Dean, Adrea Oppenheimer & Timothy Hursley. Rural Studio. New York: Princeton Architectural Press, c2002.

Dilworth, Dianna. “Ikea Enters U.K.’s Prefab Housing Market.” Architectural Record. http://archrecord.construction.com/news/daily/archives/070418ikea.asp (18 April 2007)

Jersey Devil Design/Build (JSDB). http://www.jerseydevildesignbuild.com/ (20 July 2009)

King, Ross. Brunelleschi’s Dome: How a Renaissance Genius Reinvented Architecture. New York: Walker & Company, c2000.

Novitski, B.J. “New AIA Agreements Support Integrated Project Delivery.” Architectural Record. http://archrecord.construction.com/practice/projDelivery/0807aia.asp (July 2008)

USGBC. “Educator Resource Center.” U.S. Green Building Council. http://www.usgbc.org/DisplayPage.aspx?CMSPageID=1878

Here Goes The Neighborhood!

The Impact of Permanent Supportive Housing on Neighborhood Property Values in Fort Worth, Texas
REAE 5311
By: M. Otis Thornton


Introduction
This post reports a study of the impact of permanent supportive housing on neighborhood property values in Fort Worth, Texas between 2000 and 2008. The intent is to utilize the results of this study as one component of a public education piece aimed at increasing community acceptance of permanent supportive housing developments. (A second component will focus on design considerations and management controls.)

Background
With broad public support, in the summer of 2008 the City Council of Fort Worth, Texas adopted a ten-year plan to end chronic homelessness. The vision of the Directions Home plan is to make all homelessness rare, short-term and non-recurring experience in Fort Worth, Texas by the year 2018.

Based on positive, local experience and national best practices, a cornerstone of the Directions Home plan is increasing the supply of permanent supportive housing for chronic and vulnerable homeless people. Supportive housing is defined by a leading advocacy group as, “a successful, cost-effective combination of affordable housing with services that helps people live more stable, productive lives.”

Across the country, permanent supportive housing (PSH) is proving to be more cost effective than leaving chronically homeless people on the streets. Coupled with impressive retention rates and therapeutic outcomes, this—perhaps counterintuitive—fact has led to its increasing acceptance by policy makers and advocates alike.

A Production Program Model was developed for Tarrant County to guide efforts to bring an additional 1,088 units of permanent supportive housing online in the coming decade. The model calls for both expanding the use of existing housing units by providing rental vouchers and creating new units through rehabilitation and new construction.

The majority of existing units of PSH in Tarrant County are scattered-site—typically a small number of units (<7) dispersed in multifamily developments throughout the county. Larger, congregate facilities and clusters of units exist, however, and this exercise is an effort to explore what, if any, impact they have had on surrounding property values. In November 2008, the Furman Center for Real Estate and Urban Policy at New York University published a policy brief on The Impact of Supportive Housing on Surrounding Neighborhoods: Evidence from New York City. This analysis employed a complex statistical model to study property values that fell within one of three zones around a permanent supportive housing development. The zones they employed examined properties that fell within a 500-foot radius of a PSH development, a 1,000-foot radius of a PSH site or within the same census tract.
The Furman study examined over 7,500 units in 123 developments. Their research indicated:
the values of properties within 500 feet of supportive housing show steady growth relative to other properties in the neighborhood in the years after supportive housing opens. Properties somewhat further away (between 500 and 1,000 feet) show a decline in value when supportive housing first opens, but prices then increase steadily, perhaps as the market realizes that fears about the supportive housing turned out to be wrong.
It is not possible in Tarrant County to reasonably approximate the sample size and longitudinal depth of the dataset employed in the Furman study. However, it was felt that the spatial framework could be employed to conduct a more cursory survey of available data.

Methodology
Subject Properties
1. In 1996, the Cornerstone Assistance Network opened the New Life Center on Fort Worth’s Near Southside. A remodeled nursing home, the New Life Center is an 18-unit SRO (Single Room Occupancy) supportive housing development situated in an established residential neighborhood in the Fairmount Historic District.

2. Pennsylvania Place Apartments were developed by Mental Health Housing in partnership with the Enterprise Foundation. The 152-unit multifamily includes 25 units of permanent supportive housing for persons with severe and persistent mental illness. On-site supportive services are provided by professionals from Mental Health and Mental Retardation of Tarrant County (MHMRTC).

3. Samaritan House operates two programs on their Near Southside campus that provide permanent supportive housing opportunities for homeless people with HIV: Samaritan House, a 60-unit SRO that opened in 2001, and; The Villages at Samaritan House, a 66-unit Low-income Housing Tax Credit development that opened in 2006.
Data
4. Property values for 2000, 2004 and 2008 were obtained from the Tarrant Appraisal District. For 2004 and 2008, “Appraised Value[s]” were summed and averaged on a per square foot of improvements basis for the geography under inspection. For 2000, “Land Value” and “Improvement Value” were combined to derive a stand-in for appraised value.

5. ArcGIS geographic information system (GIS) software was employed to generate two, roughly radial buffers around the subject parcels[1]. If more than 50% of the area of a parcel was inside the circle, the parcel was included the calculations of property values for the zone.

6. A United States Census Bureau GIS layer was employed to identify census tracts from the 2000 Census. Where 500 foot and 1,000 foot zones were not wholly contained within a single census tract, data from both contiguous census tracts were used.

7. From year-to-year the continuity of GIS parcel coding is sometimes lost due to subdivision and/ or re-platting—a function of changing property tax identification numbers. Parcel identities that could not be maintained for the duration of the study period, 2000 – 2008, were excluded from analysis.

8. Park land and unimproved land in the 100-year floodplain were excluded from tabulations of value.

Results
Results are presented in the table: Proximity to Permanent Supportive Housing and Annual Property Value Appreciation per sq ft
Each of the three permanent supportive housing developments examined appreciated in value between 2000 and 2004 as well as between 2000 and 2008. The largest property value increases for neighboring properties were for those parcels within 500-feet of a permanent supportive housing development.

On a per square foot basis, the appraised value of all properties inside I-820 and within the City of Fort Worth grew at an average annual rate of 10.6% between 2000 and 2008. Properties in all geographic zones near permanent supportive housing that were studied appreciated 49 – 122% more than the City at large.

Discussion
This study did not account for many variables that impinge on neighborhood values such as transportation access, school quality and proximity to jobs. Thus, it would be inappropriate in my estimation to read this data as supporting a causal relationship between handsome appreciation rates and the presence of a permanent supportive housing development within 500 feet. However, it does seem reasonable to conclude that the presence of permanent supportive housing neither detracts from nor flat lines the value of parcels in closest proximity.

The evidence that properties closest to permanent supportive housing have grown robustly and consistently with the neighborhoods in which they are situated is encouraging news for property owners who may be concerned by a proposed development. It is hoped that this data, along with evidence of management excellence and commitment to outstanding design, will go a long way towards increasing community acceptance of permanent supportive housing developments.
[1] GIS data extraction, mapping, and numerous, helpful technical comments were provided by Noah Heath with the City of Fort Worth’s Planning and Development Department.

Thursday, July 23, 2009

Rhome, Texas--The ‘Rip Van Winkle’ of the DFW Metro Area

By: Dee Brown
REAE 5311 Blog Post

This report is intended to enlighten myself and perhaps some readers on reasons I fail to understand why one small township, with a seemingly ideal location for access, fails to grow at the same rate or even close to the same rate of some similar townships that have seemingly less favorable conditions.



Rhome, Texas
Rhome is located approximately 25 miles northwest of downtown Fort Worth. This sleepy little town is located at the intersection of US 81/287 and SH 114. Upon first glance, one might think that this would have been an ideal location for growth explosion during the real estate and business booms of the 1990s and the early 2000s. For some reason, unbeknownst to me, it did not occur on the scale one would expect.


Why have businesses not taken advantage of the location? What makes it less attractive than an alternative town with less access? The railroad runs through town; does this make it more or less attractive? There has been some modest growth in residential areas but nothing substantial. The residential growth that has occurred is mostly lower to middle income housing. What will make it attractive to the higher income families? These are just some of the questions that I will attempt to answer during my research of the area.

Surrounding Area
Rhome is surrounded with the typical pre-suburban growth. Three miles to the south, down FM 3433, is the town of Newark. Newark is another sleepy little town with even less growth potential than Rhome but with a larger base of residents. I believe this is largely due to the proximity of the town to the local lake. On the way to Newark you’ll pass the local middle and primary schools along with a stretch of middle to lower income housing to the west of the road, and to the east of the road you’ll see mostly open pasture land.

South on US 81/287, there is a small truck/trailer business on the west side and on the east side of the highway there is a septic tank business and a few more trucking related businesses. These businesses are set amongst a small subdivision of starter homes. There is also a 230 acre mobile home community with the lots ranging from 1 to 5 acres. This area is considered in the Rhome extraterritorial jurisdiction but not in its city limits. Beyond the mobile home community are a few middle income homes scattered around the existing pastures. Most of these are of the original families that were raised in, or had family ties to, the area.

East of Rhome on SH 114, there is a small RV park on the south side of the highway and on the north side of the highway is a construction equipment company. Further out on the north side of the highway is another small mobile home community. This mobile home community appears to have better ordinances in place to control the size and age of the mobile homes allowed than the one south and east of town. Along this particular stretch of SH 114 along with the aforementioned property types is mostly sparsely populated pasture land.

Heading north on US 81/287 is open highway. Not much development at all, residential or commercial, has occurred just outside of town to the north.

Heading west out of town on SH 114 you’ll see country side scattered with older homes, farms and a few small private businesses set back away from the highway. In about 2 miles you will be in Aurora, famous for the space alien being buried there (not much else to speak of though). The one bright spot of the area is a small subdivision called Aurora Vista. The homes built here are of the upper middle income and possibly some of the lower upper income types.

Rhome Proper
Rhome itself has a few small businesses. Its core businesses, both of them, are in the manufacturing business. One of these is for building metal storage tanks and the other I believe builds tanker trailers for the trucking industry. There are three convenience stores, two liquor stores, two banks, a Subway sandwich shop, a Dairy Queen restaurant, and a Grandy’s Restaurant built on with one of the convenience stores. There is also a hamburger joint in one of the other convenience stores. The same person who owns two of the convenience stores also owns one of the liquor stores. Rhome is the proud home of a pharmacy, an insurance office, a real estate office, a water well digging company, a John Deere dealership, and four different denominations of churches. It does boast of a doctor’s office, a post office (which is closed 1½ hours for lunch), a brand new hotel/motel and new Dollar General store. There are a few, perhaps two or three, small private businesses that operate out of some of the older buildings “downtown” Rhome. Of course, no thriving rural metropolis would be complete without a volunteer fire department that uses the old school building as a fire house, a police department housed in a metal building and a city hall. Now that I’ve discussed the entire business aspect of Rhome, I’ll discuss the residential side.

Rhome’s residential area nearest the “downtown” area is older, wood sided homes mixed with a few brick homes. Just east of the downtown area are more of the older homes but also a few late 1970s and 1980s homes and a newer section of starter homes. At one point in time, some of these older homes were government sponsored low income houses. Rhome also presents one set of government subsidized apartments. The rent on these is based on the applicant’s income and in general has a cut-off amount of income to qualify; in other words if you make too much, you don’t qualify.

If you have ever been to an older section of a town in the size range of 15,000 people; the neighborhood that has two or three competing convenience stores; the section where our grandparents used to live; then you’ve been to Rhome. The biggest difference in the two is that the old part of the small town probably has more personality. Rhome is old, there’s not much else way to describe it and that’s the aura of the entire town.

The population as of July, 2008, posted by City-Data.com was 1051. That was close to a 91% increase over the 2000 census, meaning that Rhome in 2000 had approximately 550 residents.

Using Comparisons
When deciding to compare a few of the outlying towns of the DFW metro area I consulted with and interviewed Mark Schluter, a graduate of Texas A&M University with a degree in civil engineering. Mr. Schluter worked for the Texas Department of Transportation in the DFW area for 28 years and is currently employed as Regional Transportation Director for Halff Associates, a company whose services range from environmental assessments to multi-million dollar highway projects. During his tenure with TxDOT, Mark at one time worked in advance planning. He stated, “We would look at roadways 20 years in the future. We studied growth patterns to determine when and where roadways would be needed. As Area Engineer, I worked with a lot of developers to review their access.” Mr. Schluter also served as Planning and Zoning Chairman for Rhome from 1998 to 2004.

Some of the questions I asked Mr. Schluter were: “Why hasn’t Rhome grown any more than it has?” “What will it take for Rhome to expand?” “What makes Rhome different from the Friscos, the Argyles and the Roanokes?” Considering my inexperience in such matters, the information to follow was very enlightening. Mark began by explaining a few things which I was somewhat familiar with but had never put them all together. “For a city to grow it must have a good location. Along with location, as a subset, it must have access. The city must offer a reason for people to stop, an identity that people will relate to the town. This in turn will attract businesses to take advantage of the opportunity of the growth. Should a city begin a growth cycle, it must have the infrastructure to support such growth.”

Rhome has no identity. Mark’s opinion was, “There is an old run down feel to Rhome. For Rhome to expand, it has to find out what it wants to be known for, create that identity, that personality.” There has been a long standing rumor around some of the long-time residents that the city council was more of an anti-growth council than that of a progressive, forward-thinking one. Mark said that the mayor and council are attempting to find what Rhome’s niche might be. Most of the businesses in the general vicinity are industrial. Mark questions whether or not it would be in the best interest of the residents and the town for Rhome to have this sort of identity.

Rhome’s location isn’t as attractive as I once believed it to be. As stated earlier, Newark is approximately 3 miles to the south, or southwest. It is what I refer to as a dreary looking place. It strikes me as being dumpy from one end to the other. There are of course the nicer parts to it but for the most part, it’s old. When I asked Mark about the proximity of such a place having a bearing on Rhome’s fate he replied, “Unfortunately both Rhome and Newark are in Wise County. Wise County is known for the drug labs and rock trucks so that makes us all red-necks (or so they say). Newark has a lot of potential with recreation readily available. I’m not sure if they can ever establish themselves as the place to be because as you drive into town it looks old.”

Frisco
The first town I asked Mark to compare Rhome to was Frisco. Frisco is located north of Dallas off the Dallas North Toll way and Preston Road. Frisco’s population as of July, 2008 was 96,676, a growth of 187% since the 2000 census. Frisco hasn’t always been that big. The population in 1990 was approximately 6500. Frisco had a ten year growth of over 417% between 1990 and 2000 for a population of 33,700 in 2000. Mark described Frisco as “a whole different animal.” He had brought to my attention that the areas around Dallas were affected sooner by urban flight than the areas around Fort Worth. The population density of the immediate central business districts of Dallas was saturated which fueled expansion. Mark gave me a brief accounting of events, “Expansion to the north of the CMD (central meridian district) includes earlier growth in Carrolton, Farmers Branch, and Richardson. The upwardly mobile people, who typically want bigger and better, moved north to Plano, Allen, and Frisco. Along came the Dallas North Toll Way that terminated at SH 121 back in 1994.
This roadway connection took these yuppies from their plush mansions to the downtown Dallas, Las Colinas or IH-635 offices. A large mall, Stone Briar Center, popped up in Frisco followed by Stone Briar Country Club (very upscale). The identity was set. This was followed by the Plantation Resort Golf Club and Dr Pepper/7-Up Park (where the Roughriders play). While this looks like an amazing transformation you can still go to the old downtown and it looks like it did 30 years ago plus a few more shops.”

Argyle


The next town we discussed was Argyle. Argyle is a rural community located off of US 377, approximately 5 miles north of Roanoke. Its population as of July, 2008 was shown to be 3,525 an increase of 49% over its 2000 population of 2,365. I found the population of Argyle in 1990 to be 1,575. I’ve been in this area off and on since 1980 and I always thought of Argyle as just a post office on US 377 between Roanoke and Denton. “Strangely enough, Argyle’s focal point is its rural atmosphere. If you look at their web site they talk about the horse farms and proximity to Denton (which is less than 5 miles), Fort Worth and Dallas,” is how Mark begins to talk about Argyle. “They have virtually no tax base. They have a few shops, restaurants and a small business park near their new high school near US 377.” Mark goes on to state, “I feel that what separates Argyle from Rhome is they don’t have the baggage of no-growth thinking as Rhome does. Most of the residents in Argyle are transplants not lifelong residents or descendants. The new businesses in Argyle are upscale to match their new residents.” We can see the discrepancies in income by looking at the income levels of both towns
Rhome’s Income and Home Values
Estimated median household income in 2007: $56,729 (it was $40,667 in 2000)
Rhome:
$56,729
Texas:
$47,548
Estimated per capita income in 2007: $22,877
Rhome:
$22,877
Texas:
$23,938
Estimated median house or condo value in 2007: $146,001 (it was $79,500 in 2000)
Rhome:
$146,001
Texas:
$120,900
.

Argyle’s Income and Home Values
Estimated median household income in 2007: $111,350 (it was $91,161 in 2000)
Argyle:
$111,350
Texas:
$47,548
Estimated per capita income in 2007: $45,937
Argyle:
$45,937
Texas:
$23,938
Estimated median house or condo value in 2007: $333,944 (it was $236,800 in 2000)
Argyle:
$333,944
Texas:
$120,900
(Information found on http://www.city-data.com/)

Roanoke
Roanoke found itself in a unique situation several years back. As Mark and I discussed this thriving little area my eyes were opened to different explanations of how and why a city might grow. “Roanoke is one of those that just happened to be in the right place at the right time plus they had the foresight to take advantage of it. Back in the early 1990s, TxDOT had just completed SH 170 and the SH 114 bypass. In Rhome’s case, the bypass was completed in 1974. Being closer to a more dense population gave Roanoke the opportunity to attract large box retailers such as Wal-Mart and Home Depot. These anchors tend to bring in more people so the peripheral businesses came in to serve these masses. Mark adds further, “They have sufficient infrastructure to support growth but with the tax base they have acquired, they are able to enhance what it already had.” Mark almost seemed excited about the discussion we were having about Roanoke. You can tell he loves what he does. He continues, “Roanoke’s historic district exemplifies that once you have an attraction/destination, other like businesses like to feed on that economic energy. Babe’s Chicken developed a following and everyone else wanted to be a piece of that. Roanoke provided the climate for structured growth and the ball began rolling.”

After talking with Mr. Schluter, I feel like Roanoke will be the next Frisco. Roanoke’s population in July, 2008 was at 4,235 up 51% from 2,800 in 2000. I am beginning to see the pattern Mark mentioned at the beginning of our interview. Identity is important.

Justin
One other town we discussed briefly was Justin. Justin is located off of FM 156, northwest of Texas Motor Speedway. Its population in 2008 was 3,473, an increase of 84% from the count in 2000 of 1,890. One would think that with its proximity to the raceway that this little old country town would be thriving more so than it is. Mark’s comments were, “Justin wants to grow but doesn’t know how. They are like Rhome but without the freeway. They have begun to have a few businesses like Sonic and the businesses park south of town. The FM 156 corridor through there makes them seem old and less receptive to growth.” They have no identity yet. There is a Justin boot retailer there but from what I remember it isn’t much. I knew Justin from the feed store and the salvage store that used to be there.

Southlake

This description of what took place really surprised me. I didn’t know the history of Southlake’s development and never thought it was anything like Rhome. Mark’s response: “Southlake had many of the same early hang-ups as Rhome. They were an old town with the central business area long gone. They let mobile home parks come in and really trash up a great rural atmosphere. The same growth that we previously discussed in Dallas was moving westward and northward out of Fort Worth. They began to reexamine their ordinances and how they wanted to grow. Again, because of the population density they were able to attract the Wal-Mart, Home Depot and Lowes. In 2004, the expansion of SH 114 was completed which provided quick east-west connectivity. They came upon the brilliant idea of the Town Square. They had modeled this off of several cities around the country that had done the same. It is a great economic engine for them.”

My Conclusion
Rhome doesn’t have an identity at all, not even close to having one. With this being said, I want to look at what might be hindering the progress. In examining the needs for growth we find that Rhome has ample access. Its positioning to US 81/287 and SH 114 make it an ideal place for an eventual commerce center. Its location is lacking though. I at first struggled with the idea of location and access being different, but they are. Its location in Wise County goes against it. Also, through no fault of its own, the population density of Fort Worth has not forced the urban flight mode that we saw out of Dallas, at least not as of yet. It is happening but in all other directions besides Rhome. Next, we’ll consider the ‘if’ of growth. What if it grows? Can Rhome handle it? Rhome doesn’t have the infrastructure at the moment to handle growth. As far I know it still has outdated sewer systems. The water was just recently updated with a new water tower and the contracting of purchasing water from Lake Bridgeport through Walnut Creek Municipal Utility District. Rhome sells water to Aurora and New Fairview along with the Rhome residents. This does serve as some sort of income base for the city and it is a start.

From the interviews with Mr. Schluter I have concluded that Rhome is its own worst enemy. Mark applauded the mayor for his attempts to stimulate the growth of the town but felt that more was needed. The city council and the mayor need to be more realistic in their expectations of businesses looking to relocate in their area. They, at one point, were offering no tax incentives. The cost of doing business in Rhome would be the same as in Roanoke or Frisco. That doesn’t make sense. The city needs to be proactive in deciding what it wants and what kind of growth to promote. If it wants to be an industrial area, then they should not expect the nice neighborhoods and big anchor stores to come along with it. Rhome does have a few old attractions around town that could be rehabbed to look nice. However, it is highly improbable any investor is going to sink hundreds of thousands, if not millions of dollars in to an area without the city council knowing what they want and without all of them being on the same page. Another problem Rhome faces is its lack of size. The annexation laws prohibit any municipality with a population less than 5,000 from enforcing a general annexation for expansion. If Rhome wants to annex, they will have to build the population from within or get permission from landowners to do so. With this being said, Rhome needs to get busy doing something to make itself more attractive to businesses and residents alike. An industrial identity will not do this. Marketing the city would be easy, if it had its base, just by utilizing its name. The bottom line is, Rhome can control its destiny or let destiny control Rhome.

Rhome you’ve been asleep for forty years, it’s time to wake up.


I would like to sincerely thank Mark Schluter for his time and input.




http://www.texasescapes.com/CentralTexasTownsNorth/RhomeTexas/RhomeTxRockGasStation0207BG.jpg
http://www.halff.com/aboutus.php
http://www.city-data.com/city/Rhome-Texas.html
http://www.city-data.com/city/Frisco-Texas.html
http://www.halff.com/aboutus.php
http://www.infoplease.com/us/census/data/texas/frisco/
http://www.city-data.com/city/Argyle-Texas.html
http://www.localcolorart.com/Argyle,_Texas/encyclopedia.htm
http://www.argyletx.com/
http://www.ci.frisco.tx.us/Pages/Default.aspx
http://www.roanoketexas.com/
http://www.statutes.legis.state.tx.us/?link=LG

Thursday, July 16, 2009

Islamic Finance in Real Estate: Is it immune to the financial crisis?

By: Yaqoub Alabdullah
REAE 5311 Blog Post

Introduction:

The area of Islamic finance is relatively new to the finance field. While it was commonly known among Muslims, Islamic finance has grown not only to include Muslims, but also to include non-Muslims. Now, Islamic banking is widely known in Europe and many Asian countries. It is growing in the United States as well, but it is in its first steps. That is primarily because of the attractiveness of many Islamic- compliant corporations who have enjoyed a relatively healthy financial position compared to other comparable corporations. Islamic finance now accounts for more than $500 billion worldwide, and it is projected that Islamic securitization will exceed more than $100 billion (Delaigue, 2009). Basically, Islamic finance prohibits the practice of “Riba”, interest earned on money. So how can Islamic corporations make profits if they do not deal with interest rates? And if they do not deal with interest rates, are they immune to the current financial crisis? And what is the relationship between Islamic finance and real estate?

This article tries to answer these questions. It should be noted that, because Islamic finance prohibits the practice of Riba, a major source of income for many Islamic financial institutions is in real estate. In fact, whenever two Muslims talk about an Islamic financial institution, they are primarily talking about the real estate sector of that corporation because of its importance to the corporation as a whole. In other words, real estate is the major source of income in Islamic finance but without dealing with interest rates, “Riba”, to earn revenue or to calculate mortgage payments.

What is Islamic finance?

Islam’s prohibition and condemnation of Riba is found in various places in the Quran (see 2:275–280, 4:161 and 30:39 for examples) and also in various Hadith (sayings of the Prophet Muhammad), which cite instances wherein the Prophet explained what qualified as Riba and what did not, such as ‘the selling of wheat for wheat is Riba, unless it is exchanged from hand to hand and is equal in amount. According to this traditional understanding of Riba, modern conventional finance is impermissible since it incorporates the lending of money for a later repayment that includes a premium (i.e. interest) for the time elapsed between disbursement and repayment (Nayeem, 2009).  Many Muslim scholars developed models that do not include Riba but allow for profit to occur. Such models include “Murabaha”, “Musharaka”, “Ijara” and “Sukuk”. While the definition and implementation of each model is beyond this article, it should be noted that each model allows for risk to occur between the borrower and the lender. For example, in the Murabaha (cost-plus sales) contract, the seller acquires the desired product at a price known to both parties and then agrees to sell the product to the buyer for the original price plus an additional premium (Nayeem, 2009). This is different from the traditional way of financing in that the premium is not based solely on interest rates or Riba. In other words, if a person would like to buy a home for $200,000 and wants to finance it in the Islamic way, the Islamic bank will acquire the house for $200,000 and sell it back to the buyer with a premium. The installment payments are simply the lump-sum amount divided by the number of years. If the Islamic bank sold the house back to the buyer for $400,000 in 20 years, then the annual payment is simply $20,000. In other words, a Muslim may earn a profit, for instance, by selling an item for more than he paid for it, provided the two transactions are kept separate. An Islamic-compliant mortgage may involve a bank buying the property on behalf of the customer, who then pays off the principal loan along with “rent” or a “fee” for using the property until it finally transfers into his name when the loan amount is fully settled. (Goodenough, CNSNEWS.com, 2008). The payment on the mortgage is not based on future value of money or some kind of discount rate because Islamic finance says that money cannot grow by itself. It should grow by real output in the economy, which is that risk should be shared among all parties. One cannot simply lend someone money and expect to be paid back with interest. Instead, one would acquire the product and sell it to the buyer with a premium and in this way share the risk with him. There is nothing risk free. This is a crucial concept in Islamic finance and the whole Islamic financial real estate sector depends on it.

Moreover, when a person deposits money in an Islamic bank, there is no guaranteed interest earned on that money. In fact, the person may lose that money because he/she agrees to share the risk with the bank in their operations. Despite that, as noted earlier, Islamic banking continues to grow worldwide despite what seems to be their higher risk compared to other financial institutions. One of the models that has been growing enormously in the past couple of years is the “Sukuk” which is basically an Islamic bond. But again, there is nothing guaranteed and everybody is sharing the risk. In fact, some kinds of Sukuks do not even have fixed coupon payments because that depends on the profitability of the project in question. For example, a developer may want to build an apartment complex and issues “Sukuks”, Islamic bonds, to finance his project. The lenders in this case would agree to share the risk with the developer and also agree to share the profits together. The payments on the “Sukuks” would depend on the rents paid by the tenants and that is the only form of “Sukuks” that tend to be steady over time because of relatively small changes in rental rates.

In short, “financial systems based on the principles of Islamic law (shari’a) have been growing in popularity in the Islamic world and increasingly among Muslims in western societies too. Shari’a forbids Riba or usury – the collection and payment of interest – and also shuns excessive risk and heavy borrowing, thus helping to insulate parties from overexposure to risk. “Shari’a-compliant” banking and financial products aim to avoid companies that are heavily indebted or have links to products or conduct frowned upon in Islam, such as gambling, pork, alcohol and pornography.” (Goodenough, CNSNEWS.com, 2008).

Islamic finance and the financial crisis:

Many Muslim Academics argue that the current financial crisis would not have happened if Islamic finance principles were employed in the global economy. For example, Dr. Mohammed Mahmud Awan, a leading scholar and Dean at Malaysia-based International Center for Education in Islamic Finance (INCEIF), told the participants of a conference in Manama, Bahrain that the current global economic crisis has opened many windows of opportunities for Islamic finance. “This crisis is seen as a big opportunity for Islamic finance as it has the capacity and capability to bring stability to the market.” Dr. Awan said.  The current global crisis which caused colossal financial losses running in billions of dollars, he said, would have not occurred if the Islamic principles regarding collateralized debt obligations (CDOs) were in vogue in the international financial market. “Islamic bonds, carrying unique structure features, cannot fall foul of a crisis such as subprime mortgage crisis. Subprime mortgages are backed by dubiously rated collateralized debt packages which subsequently precipitated a global credit crunch.” (Arab news, 2008). He added: “A crisis such as the mortgage one would technically be unthinkable in the Islamic capital markets sector because it would be against Shariah (Islamic law) principles to sell a debt against a debt.”

But many other scholars disagree with that. In fact, many Muslim scholars disagree with that as well. Their main point of view is that Islamic finance and Islamic financial institutions do not live in a separate world as other traditional financial institutions. The basic macroeconomic factors affect both equally and the recent financial crisis affected Islamic financial institutions just as much as it had affected traditional financial corporations.

Performance of Islamic finance corporations:

To judge the quality and performance of Islamic finance principles, I took data from data stream and analyzed the quarterly return of the Dow Jones Islamic Index from the period of 1/1/2002 to 6/30/2009. Then, this was compared with the Dow Jones Industrial average returns for the same period. The results are shown in Figure 1. 

                                  Figure 1:

Certainly, the overall performance of the two is very similar. But what is interesting is the beginning of the financial crisis (just about the 27th quarter in the graph). It can be seen from the graph that DJ ISLAMIC Index was in the positive category at the beginning of the crisis while the DJ Industrial was at the negative side. But just after that, we can see a sharp fall in the Islamic index while the DJ Industrial started to recover (probably because of some confidence in the stimulus package). Finally, both of them are recovering but the Islamic index at a faster rate. This will certainly create a debate between Islamic finance scholars and those of traditional finance. Pro-Islamic finance scholars are arguing that since the financial world is governed by traditional finance concepts, the crisis brought the losses to the Islamic corporations’ assets as well, which are primarily in real-estate. And that the healthy industries, those who did not participate in all the derivatives and risky operations that started the crisis, will survive at the end and that is evident by the apparent recovery of the Islamic financial institutions. For example, Kuwait Finance House (KFH), one of the leading Islamic banks in the world in terms of market capitalization, has just distributed 4.5% on its deposits to its customers as a profit from their Islamic finance operations in Kuwait. That happened at a time when most of the Kuwaiti banks lost more than 50% of their market value.

Traditional finance scholars would argue that while the Islamic finance concepts are creative and new in the area of finance, they are not immune to the financial crisis. It would be interesting to add those concepts into the already existing financial system, but it is not an alternative model. The financial crisis affected both equally and that is a fact. It should be noted that the traditional finance scholars are not arguing against Islamic finance. In fact, many large financial corporations (like HSBC, Citi Bank, and many traditional financial corporations in the Middle East) have just opened Islamic banking units not just to attract Muslim customers but also to take advantage of this new concept, which is apparently very healthy. They are arguing that this new concept should not be used as an alternative to the existing system. Conversely, pro-Islamic finance proponents are arguing that it should be an alternative because of its reduced risk and rejection of money growing by itself without real output in the economy. Plus, many of the Islamic models like “Murabaha” and “Musharaka” eliminate many of the disadvantages of the traditional system. For example, in Islamic finance there is no buying debt by debt or many other risky operations simply because they are not allowed under Shari’a law. This would add greater efficiency to and reduce risk in the financial system. 

Conclusion:

In conclusion, I think that time is needed to judge the new idea and concept of Islamic finance. As noted earlier, the introduction of Islamic finance is relatively new, and, in my opinion, it should take more time to mature, just like any other industry. While pro-Islamic finance scholars argue that this model is better than the existing one, it is not realistic, at least at this point in time, to present it as an alternative.

I think that Islamic finance added some interesting new models like “Murabaha”, “Musharaka” and “Sukuk” in real estate in order to eliminate Riba. The healthiness of the Islamic corporations in general is very evident and they had enjoyed a profitable position in the last couple of decades. That is primarily why many big corporations joined this new system. However, the global financial crisis did not leave the Islamic financial industry alone. It affected them just like it affected the traditional industries despite their totally different operations. Nevertheless, Islamic corporations apparently are recovering although that is debatable.

This financial crisis affected real estate markets around the world. And, since real estate is the primary asset to any Islamic-compliant corporation, they suffered heavily by the crisis even if they did not participate in the risky practices that started the crisis. But, as pro-Islamic finance proponents would say, the healthy ones will survive at the end.  

 

References:

-       Aidham, A, (2009), “Sukuk: Pushing Innovation”, International Financial Law Review, Vol. 28 Issue 3, p32-32, 1p.

-       Delaigue, B and Reillac, A, (2009), “France Adopts Tax Measures to Promote Islamic Finance”, European Taxation, Vol. 49 Issue 5, p286-289, 4p.

-       “Growth of Islamic finance”, International Financial Law Review, Mar2009, Vol. 28 Issue 3, p35-35, 1p.

-       “How Islamic Bond Refinancing will work”, International Financial Law Review, Mar2009, Vol. 28 Issue 3, p17-17, 1p.

-       Nayeem, O, Shiliwala, M and Shiliwala, W (2009), “A CONFLICT OF INTEREST: ISLAMIC HOME FINANCING IN AMERICA”, Economic Affairs, Vol. 29 Issue 2, p22-27, 6p.

-       http://www.arabnews.com/?page=6&section=0&article=109247&d=24&m=4&y=2008

-       http://www.todayszaman.com/tz-web/yazarDetay.do?haberno=156567

-       http://www.businessweek.com/globalbiz/blog/eyeonasia/archives/2008/10/islamic_finance.html

-       http://www.free-press-release.com/news/200902/1233484780.html

-       http://www.cnsnews.com/Public/content/article.aspx?RsrcID=37332

http://www.islamic-finance.com/indexnew.htm 

Sunday, June 21, 2009

Offer from Mark Kingston, CEO of Argus

I just got back from a week of Argus training in Houston. The Argus group is a very nice bunch and last week the CEO of Argus, Mark Kingston developed a plan to expand their Argus Certification program and including a special offer to get people certified. Please note that this program is limited to 2,000 participants.

Program cost for each individual varies based on your specific circumstances. If you respond to this offer, the only thing that I ask is that you be truthful with Argus regarding your situation so they can offer an appropriate package.

The message from Mark Kingston and program details are copied below. Please note that contact with Mr. Kingston is through LinkedIn at the e-mail address cited below.

Cheers,
Dr. Hansz

Message from Mark Kingston, CEO of Argus:

Let me help you…My team and I are willing to invest in you…No questions asked...Well maybe one or two… Lost your job, starting up or in a position to hire...Please, Stop and Read This
Situation:

1. A large number of people have become unemployed and need help moving forward into new opportunities.

2. Over 1,500 email replies came back to me after my recent outreach indicating that the person no longer works for that company.

3. A Large number of individuals have expressed their desire to gain access to ARGUS Training, certification and license to ARGUS software as a way to get back on their feet. They have stated that ARGUS training and experience is a pre-requisite for many job opportunities.

4. Many lost their access to our tools when they were laid off. This limits their ability to maintain proficiency and or their ability to create income opportunities for themselves.

5. Many will need experience modeling in ARGUS that can be referenced as a way to strengthen their credentials for job search.

6. Many have expressed their desire for a job placement site for those seeking trained-experienced users of the ARGUS Software solutions.

7. Many emails requesting elearning-web based learning capabilities.

8. Many requests for demo or student copies of the software.

9. Many individuals are starting new ventures. They have limited capital. They have suggested that it would be extremely helpful to provide our software during their startup phase at a significant discount, or on a project by project basis.

10. Many are asking for case studies and examples of how the ARGUS solutions can be better employed for improving their decisions and outcomes.
Many want to change their situation but do not have the money. The choice is roof over the head, food on the table and gas in the car.
Posted 3 days ago | Reply Privately

Mark Kingston
CEO
See all Mark’s discussions »
Comments (13)

Mark Kingston
CEO
Target(s):

1. Assist recently unemployed real estate professionals and start-up companies in their efforts to enter the marketplace

2. The approach should satisfy the following objectives:

a. Prepare the unemployed real estate professional for reentry into the marketplace

b. Produce more “ marketable” professionals in the industry with education and certifications

c. Produce “ARGUS Software Certified” professionals that are prepared to be immediately productive in their new endeavors

d. Enable start-ups to spend their limited resources on employees while having access to the tools that enable them to thrive.

e. Create new opportunities
Posted 3 days ago | Reply Privately

Mark Kingston
CEO
Plan:

1. The program will be affordable to 100% of those participating.

a. This means, little or no cost

1. Eligibility will include:

a. Unemployed
b. Startup companies launched in 2009, or
c. companies hiring individual(s) that have been unemployed for more than six months
d. others, that I haven't identified but need an assist

1. The packaged offering includes a combination of training, software and experience as outlined below:

a. Access to DCF eLearning modules 1 through 10 (90-day access from the start of each module)

b. Perpetual license of ARGUS Lite (comes with 6 months of ARGUS Standard)

c. Advanced training documentation (mailed hardcopy)

d. ARGUS Certification

e. Opportunities to work with our services group on contract engagements as they become available

1. The cost will be $ 995 per package

a. We reserve the right to waive the cost to any individual.
b. We reserve the right to let any individual pay us when they can pay us (maybe never).
c. We reserve the right to make a difference for any person or company that will let us help.

1. What do we hope the benifits will be to you?

a. Learn ARGUS DCF and become certified in the solution at a fraction of the cost or no cost depending on your situation.

b. Use the full version of ARGUS for 6 months without limitations and then the Lite version perpetually.

c. ARGUS is investing a net value of $ 5,000 toward each person that needs help or will help (e.g. companies that hire), $ 6,000 if we wave the package cost.

d. You succeed in improving your position

e. Employers, you get a well trained professional that is able to make an impact from the moment they come through your door without the cost or need to send them off for ARGUS Training.

1. Our limitations:

a. We will need to limit this to the first 2,000 people that request this package. Unfortunately we are constraied by the need to keep our heads above water. For us to be able to help, we have to stay strong too. We do have to sell a few higher prices copies. In any, given period as we exceed our cash-flow requirements we will expand the number of packages that we make available and or give to those who can’t afford any payment.

b. For those who think this is a big marketing gimmick, please swim in another pond. Our employees have taken a 15% pay reduction and two furlough days a month. Six of our top executives have taken their pay down to zero. Yes, I am working my rear off for free. At this point, nothing in it for me but the ability to help. In addition, I have had to lay off 100 people in the last twelve months. We do understand the pain you are experiencing. But we are fortunate in that we have kept our head above water. So we can try to help. FYI, no employee is actually taking their furlough days because of their desire to help. This gives us the margin required so that we can absorb this effort without compromising our obligations.

c. We will accept the risk that a few in the world, that can afford to buy the solution at the market value, will try to take advantage of this effort. Our team decided this is an acceptable risk if we can make a difference for the people that need help. For those who might be so inclined, please reconsider. Make your decision knowing that you would be breaking a trust and hurting the caring employees of ARGUS Software.

1. What do you have to do to get your package?

a. Send me an invite to connect on LinkedIn: mkingston@argussoftware.com

b. Join the “ARGUS Commercial Real Estate Network” group site on LinkedIn.

c. Once I have accepted your invitation to connect, send me an email on LinkedIn regarding your situation. Within 24 hours you will have the tools you need.

d. Remember, if you cannot afford the price of the package or cannot afford to pay it all up front let me know. We will not shut the door on the ability to help you
Posted 3 days ago | Reply Privately

Mark Kingston
CEO
8. How can others help?

a. If you have jobs available, please post them in the job listings located in “ARGUS Commercial Real Estate Network” group site.

b. If you have contract work for analysis, modeling or reporting requirements please contact us. We are going to invest in training a lot of people here that can benefit from having that practical application on their resumes. We will provide the service at cost and guarantee that all work will be supervised and reviewed by our best consultants. Who knows you may find a superstar to add to your team.

c. If you are a solution provider to the real estate industry, get in the game. What are you waiting for? Help this industry, bend a few of your rules and give some software and training away that can make a difference. It’s a currency that you have an abundance of. Use it.

d. If you are an industry participant that is interested in joining our effort to make a difference, connect to me as outlined above and join the ARGUS Commercial Real Estate Network. Success is a choice, and so is your decision to make a difference. As a minimum, it cost you less than five minutes to see what it’s all about. Join us in breaking convention. We are going to ignite a new market direction with the launch ARGUS Zone and the new transaction zone (A global property exchange). Everybody that is plugged in to this initiative to help will have access to this platform as another way to succeed in this market. It’s your choice. Make a difference.

e. Last, for those who have already joined, send this to someone you know that may need the help.



Let’s change the outcome,

Mark Kingston

Sunday, June 14, 2009

Valuation Job Opportunity

The North Texas Chapter of the Appraisal Institute posted the follow job notice.

The Pinnacle Companies in Dallas is looking for qualified appraisal candidates for long-term contract work at Fannie Mae. The NUC Review Appraiser is responsible for conducting retrospective valuation reviews of appraisal reports used by seller/servicers to support lending decisions and determine if they meet Fannie Mae guidelines, the Uniform Standards of Professional Appraisal Practice (USPAP) and other professional appraisal standards. Pay range is $40/hr - $45/hr. Please forward your resume and contact information to Clay Findley at clay@pinnaclestaffingjobs.com for immediate consideration.

Thursday, June 4, 2009

Dr. Hansz's Summer Office Hours

My office hours will be from 2 to 4 PM on Mondays and Wednesdays. Please note, I will not have office hours on June 15, 17, 22, and 24.

Friday, May 8, 2009

UrbanPlan Competition Comes to an End

The Urban Land Institute (ULI) UrbanPlan competition came to a conclusion last night with the City Council event.

From UrbanPlan City Council


From UrbanPlan City Council



All teams did well this semester but the Council selected a plan by (left to right) Demarqus James, Irene Yang, Luz Henry, Paul Mehlmann, and Victoria Dick (not in picture).

From UrbanPlan City Council


Read about this year's UrbanPlan competition in the Shorthorn:

http://www.theshorthorn.com/content/view/17060/209/

and

http://www.theshorthorn.com/content/view/16870/209/

Thank you to all the ULI council members Steve Stamos, Kip Daniel, Mike Wadsworth, and Lindsay Allen. Finally, special thanks to organizers Philip Bankhead and Jon Molnoskey.

Archon Looking for Summer Real Estate Research Intern

Research Intern – 2009

Primary Job Duties

Performs predetermined task/projects that are designed to benefit Archon's business needs while also contributing to the Intern’s business exposure. Serve as analytical support to Research Associates and Analysts on special assignments such as region/property type, national. economy, capital markets, international markets, etc.

Position will perform in-depth analysis of real estate and capital market data to provide Archon decision makers with critical, timely information to accomplish tactical and strategic goals. Will have the opportunity to work on Archon Group geographic systems to improve the reporting with proprietary Archon databases as well as work in economic databases to update Archon’s viewpoint by region.


Required Skills

Strong organizational and inter-personal skills with an understanding of real estate economics & analysis as well as an interest to learn about advanced real estate research. Aptitude for the art of discovery a plus. Excellent PC skills in Excel, Word and PowerPoint as well as some experience in conducting Internet research are required.


Preferred Skills

Some research experience and an understanding of RE market data terms and data products a plus. Strong writing and presentation skills preferred.

The ideal candidate will be a junior going into their senior year.

If interested, please send a brief cover letter and resume to:

Doug Prickett, CRE
Director of Research
Archon Group, LP
a Goldman Sachs Company
6011 Connection Drive
Irving, Texas 75039
Tel: 972-368-2586 | Fax: 972-368-4198
email: doug.prickett@archongroup.com

Wednesday, May 6, 2009

Josh Been's Summer Class Summer I

If anyone is looking to register for Josh Been's summer class, this class is being held in the Summer I session. Just fyi.

Looking for Summer Real Estate Intern

Hudson Peters Commercial

Commercial Real Estate Office Looking for Summer Intern

Dear Fellow Broker,

We are looking for a summer intern. The ideal candidate will have the following qualifications:

* Desire to work in a Commercial Real Estate upon graduation in BROKERAGE!!!
* Working on a Business, Finance, Marketing or similar degree with graduation in 2010 or later
* Good Computer Skills--Familiarity with Excel, Word, Publisher and PowerPoint

Position is 15-25 hours per week. 3-4 days/week

$10/hour

See Our Listings 24/7 at: www.HudsonPeters.com
Michelle Hudson, CCIM
HUDSON PETERS COMMERCIAL
972.980.1188 x202 | F: 972.980.1181 | C: 214.534.0226
4055 Valley View Lane, Ste. 260, Dallas, TX 75244
Hudson@HudsonPeters.com