2015
30 YEARS OF EXCELLENCE
URBAN LAND INSTITUTE
POSITIVELY NEUTRAL ULI Arizona sparks discussions free of bias
By AMANDA VENTURA
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he Urban Land Institute is a nonprofit research and education organization supported by its members, dispersed throughout 95 countries. In Arizona, Deb Sydenham, FAICP, is executive director of an awardwinning ULI District Council that approaches the industry with problemsolving programs throughout the year. No program is more well-known, though, than the intensive Trends Day — a full schedule of discussions between industry leaders on the latest hot-button issues. Sydenham weighs in on what’s coming for the organization in the next 12 months.
INFRASTRUCTURE IS ONE OF THE MOST IMPORTANT CHALLENGES TO ARIZONA’S GROWTH. WHAT ROLE IS ULI ARIZONA TAKING TO SOLVE THIS ISSUE? As a neutral convener – emphasis on neutral – ULI provides a safe forum for fundamental discussion amongst public and private sector thoughtleaders regarding Arizona’s future. Infrastructure, specifically the financing of infrastructure to support growth and redevelopment throughout the state, is at the forefront of discussions occurring throughout coffee houses, city council chambers, boardrooms and legislative offices. As noted in Emerging Trends in Real Estate©, released this year by ULI and PWC, as a nation, “the U.S. is not investing in the physical facilities needed to compete into the future. The trend here is not good.” The 76 | November-December 2015
chief investment officer of a public retirement fund wants to invest in growth markets, but he expects “less growth in areas not investing in infrastructure.” A private equity firm comments that, “Infill is the key to opportunity in strong markets, but it is a challenge when transportation and utility infrastructure is old and seriously underfunded.” The quality of infrastructure systems – including transportation, utilities, and telecommunications – is a top factor influencing real estate investment and development decisions in cities around the world, sharing a high ranking with consumer demand in terms of importance, according to a 2014 survey of public- and privatesector leaders conducted by the Urban Land Institute and EY. Arizona’s infrastructure finance toolbox is vast and varied, but is it complete? Is there broad understanding and support for the most effective tools for particular project types in today’s new economy? The questions are endless. There are no quick fixes or onesize-fits-all solutions to issues of this magnitude. ULI Arizona is working closely with organizations including Valley Partnership, NAIOP and others to facilitate collaborative conversations in the coming months that will result in teamwork and strategic action locally and at the state level. Together, we’ll lay the groundwork enabling business, community and political leaders to craft and adopt insightful and future oriented infrastructure finance strategies to forge better places. This is a cornerstone of ULI Arizona
and one of the spaces in which we continue to be most effective.
WHAT IS AN IMPORTANT DIALOGUE IN WHICH THE COMMERCIAL REAL ESTATE INDUSTRY SHOULD ENGAGE? In concert with elected leaders, the industry must help formulate sound infrastructure tools and policies that support communities and catalyze private investment in community building. This requires a new level of leadership and an ability to laserfocus on the goal and not distracted by the surrounding white noise that will continue to escalate throughout the campaign season. Our ability and capacity to forge better communities, and ultimately better returns on investment, depends on developing a shared vision and shared metrics to measure progress. What worked in the past, or even last year, may not work tomorrow. No matter the perspective or expertise, each of us has a role to play and a unique skill set to bring to the table in the development of fundamental tools and strategies that strengthen community building and resiliency. The country wasn’t built by armchair quarterbacks. It was built by people with passion, dedication and commitment to creating a better future. Arizona communities should expect no less; let’s do this.
A DECADE OF TRENDS DAYS HAS PASSED. IN ADDITION TO ATTENDANCE, WHAT MAKES THE EVENT A SUCCESS FOR YOU?
The success of Trends Day is demonstrated on a variety of levels. This one-day deep-dive explores the most current state and national land use and real estate trends, with a focus on what to expect in the future, where the best opportunities can be found and how these components affect both public- and private-sector partners. By the numbers, Trends Day maintains the distinction of being the highest attended program in the ULI District Council system, and has held that honor for the past three years. I have no doubt that we are about to make it four. An incredibly talented ULI member committee develops the curriculum each year and identifies at least one tangible aspect of the day that can be added or enhanced to raise the bar on excellence. Success is the camaraderie and bond created amongst the committee members, working tirelessly throughout the year. Success is the increasing number of women speakers – no small feat in a historically male-dominated industry. Success is a 33 percent feedback survey response rate, when 10 percent is usually considered optimum. Success is hearing Trends Day speakers and information cited in conversations and meetings months later. Success is providing an audience the opportunity to look through a holistic lens at an issue and gain new perspective. Most importantly, Trends Day is successful when people leave with that one compelling take-away, that wow factor, that aha moment that represents the value gained by being in the room at Trends Day. 77
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A PERFECT 10:
Behind a decade of ULI Arizona Trends Days By AMANDA VENTURA
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rends Day is exactly as it sounds — and nothing as it sounds. It’s a day when thought-leaders congregate around panels, keynotes and between coffee cups to talk about the latest trends in development. However, it’s much more than that. It’s one day a year when every decision-maker steps out of the C-suite and shares eight valuable hours of their day with peers and up-and-comers, sharing best practices and industry insight in a neutral environment. There are no competitors at Trends Day. Everyone is on the same team, one that cares about responsible development and giving Arizona a competitive edge.
Trends Day celebrated its 10th anniversary in 2015. Over that decade, the Trends Day committee has been chaired by some of the biggest influencers in the industry. “I have been on the committee a few years, and we always try to keep it fresh and relevant,” says Dave Roderique, Trends Day chairman in 2011 and director and executive vice president of Downtown Phoenix Inc. “It is a must-attend event for real estate professionals, as we are
MEMORIES FROM A DECADE OF TRENDS DAYS: ELECTRIC LADYLAND
In 2014, Trends Day had 14 female presenters. At 33 percent, it was the highest percentage of female speakers in Trends Day history. — Tom Johnston, managing director, Savills-Studley
DEBATE CLUB
I was a big proponent of shaking up the one-dimensional delivery of information. For example, I ushered in the era of ‘Dueling Economists,’ where different points of view would be 78 | November-December 2015
presented and debated. My view was that this type of presentation would lead to a more memorable and perhaps more educational program. Shaking things up has led to other innovations, such as ‘quick hits’ and other nontraditional presentations. — Steve La Terra, managing director, Meyers Research LLC
STAGE DRIVE
Being chairman of Trends Day was a significant job and role in my career. You stand up there in front of 800 people — a very
full room — it’s all the brightest and best people in the real estate community and it’s intimidating to some extent to stand at a podium in front of a group like that. To do that, host the event and get a program that was wellreceived … was just a terrific experience. It’s one of the few organizationss dedicated to just making everybody better through education. It’s refreshing to have an organization like that. Trends Days have all been successful. — Mark Winkleman, founder, MSG Realty Partners
YOUNG BLOOD
(My favorite memory) was when the young people came to Trends (from ASU or ULI’s Young Leaders Group). They came, participated and learned. To be in the same room as real estate leaders in the industry, what a cool opportunity for them ... The leaders also had the opportunity to give back to these young leaders and they really enjoyed it, too. — Greg Bielli, president and CEO, Tejon Ranch
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Dave Roderique
Steve La Terra
Heidi Kimball
always addressing what is important at the time. We take the attendee surveys very seriously and deliver a program the following year based on those survey responses. The survey does not fall on deaf ears or go into the round file.” Through the downturn, Trends Day aimed to stay optimistic yet balanced. “The lack of a housing market recovery was surprising and uncomfortable,” says Steve La Terra, chair of the 2012 Trends Day, managing director at Meyers Research LLC and current ULI Arizona District Council chair. However, 2010 Trends Day Chair Greg Bielli, president and CEO of Tejon Ranch, shares that his biggest surprise was just how positive people were about the future of Arizona despite the times. “The intent of Trends Day is to provide a balanced outlook,” Roderique seconds. “That was probably the biggest thing. We were all up there trying to be optimistic about the future, yet it wasn’t happening.” “It’s a well-oiled machine,” adds Heidi Kimball, 2015 Trends Day chair and senior vice president of Sunbelt Holdings. From business in the sports industry
to national leaders in commercial real estate, ULI has made a name for thinking outside the box and consistently updating the format of the event. “Some of the things that we’re gravitating away from is traditional panels on industry segments,” says Mark Winkleman, 2013 Trends Day chair.
MEMBER SPOTLIGHT
Leaders Steering Committee (four years); former ULI Trends Day Committee (2 years)
Erin A. McInerney Vice president, acquisitions & development, RED Development ULI member: 7 years Role with ULI: Current chair of the Young Leaders Group, Partnership Forum (three years), Young 80 | November-December 2015
2016 TRENDS DAY
WHEN: JANUARY 20, 2016 WHERE: J.W. MARRIOTT
PHOENIX DESERT RIDGE RESORT & SPA There are dozens of other programs for outlooks and time-sensitive market updates throughout the year for Phoenix professionals, so ULI Arizona took Trends Day in a much broader direction.
WHY ARE YOU A MEMBER OF ULI? I am a member because it is the best way to learn and grow in my industry and develop one-of-a-kind relationships that are invaluable to my career. HOW HAS BEING A MEMBER AFFECTED YOUR PROFESSIONAL CAREER? I started with ULI when I was still at the early part of my career (I was in my mid-20s). I
Mark Winkleman
“We decided people didn’t want to hear the state of the market … because they can find the info in other places,” says Kimball. “They want to hear interesting things about challenging opportunities … over the next 10 years.” The woman behind the scenes of it all is ULI Arizona Executive Director Deb Sydenham. “There’s a tremendous amount of work, but the bulk of that is Deb and her staff,” Winkleman says. “I’ve been a member of a lot of organizations ... and, frankly, there isn’t anybody better than Deb at organizing events.” In terms of stacking the deck with a solid committee, members really need to be forward-thinking. “Having to set a debate topic six months before the event requires forward-thinking,” Kimball says. Note: This story omits last-minute speaker swaps, that time the committee couldn’t find Concord Eastridge founder Susan Eastridge in the crowd before her panel, that one time a keynote speaker dropped the f-bomb and other behind-the-scenes stories former chairs wouldn’t part with.
have had multiple mentors through the ULI YLG Partnership Forum program that continue to push me forward in my career. Now, I am doing deals with guys that I view as mentors, and that great “full circle” experience. At the end of the day, it’s really about the relationships. WHAT IS ONE UPCOMING TREND THAT YOU WANT TO HEAR MORE ABOUT IN THE NEXT 12 MONTHS? Evolution of antiquated real estate and how it can be revitalized to serve today’s market.
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84 | November-December 2015
Imparting Impact ULI Arizona’s AzTAP changes cityscapes
By AMANDA VENTURA
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hen Arizona State Route 51 was built, traffic along the 32nd Street Corridor in Phoenix dropped from 50,000 cars a day to 18,000. While most cities could spend years and years trying to find consensus between the community, businesses, developers and city officials during such stark shifts, programs such as ULI Arizona’s Technical Assistance Panel (AzTAP) are meant to bring unbiased viewpoints to cities that may need some tough love and guidance. “I find the process thorough and unbiased,” says Mike Hammond, president and managing shareholder of Cushman & Wakefield | PICOR, who participated in an AzTAP in Bisbee. “It’s difficult to get that information when you’re trying to build consensus in a community.” Returning to the 32nd Street Corridor, when Councilman Bill Gates was elected, commercial buildings along that stretch had some of the highest vacancies in the city. “We came to a point where we said, ’It’d be great to reach some experts,’” Gates says. After securing the AzTAP panel, the corridor received a $5,000 grant from the Phoenix Industrial Development Authority. The corridor is
now shifting from an area of emptied retail to one attractive to people. Gates says he recently met with a developer working on single-family and multifamily builds. More than 100 people attended meetings about the corridor’s growth. North 32nd event has a Facebook page with 1,200 followers. In January 2014, a panel of development experts — volunteers who came at their own expense — descended upon the Town of Carefree to strategize and encourage the town to grow responsibly. Melissa Price, then a vice mayor for Carefree and now a councilwoman, was involved in ULI’s Carefree AzTAP. “The Town (of Carefree) was cautious and town council divided about spending money on any capital investment projects,” says Price. “The mayor would only entertain capital investment if it was a donation or sponsorship.” Kirsten Brown, owner and broker for Butte Realty and development entity Butte Companies, has been on both sides of an AzTAP. She participated in a panel for Fountain Hills five years before observing an AzTAP in Carefree as a prospective developer. “Carefree is a small town, so they don’t have a ton of development going
on, so some of their codes, if you will, just weren’t as current as other cities may be,” Brown explains. Brown’s company was trying to develop a luxury condo site in Carefree but needed parking codes to be updated in order to accommodate the building’s mixed-use purposes. “That had a big impact on the project’s financial feasibility,” she says. “I feel like that panel had a very significant impact on influencing the town to put some focus on economic development in their town core, what they’re now calling a village. “I just think the AzTAP panel gave them the extra confidence,” Brown adds. In Goodyear, a panel of 11 industry experts, ranging from finance to commercial industries, recommended a 40-point action strategy. Of those suggestions, Goodyear is implementing the expansion of Loop 303, south of Interstate 10, establishing a medical innovation corridor, improving arterial roads along employment corridors, recruiting and expanding employers near Phoenix-Goodyear Airport and seeking private investment for public infrastructure of shovel-ready sites. Goodyear City Manager Brian Dalke is an advisory board member of ULI Arizona as well as the recipient of 85
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Kirsten Brown
Evelyn Casuga
Brian Dalke
Bill Gates
an AzTAP. “The greatest surprise was the very specific, direct feedback from all of the participants on the panel,” says Dalke. “They did not pull punches or communicate in a way that was tailored to a specific audience. Their professional expertise is reflected in each of their comments, which are unabashedly blunt. There wasn’t a minute of their time that we can look back and say, ‘We didn’t need that information.’ Everything had value to our mission to develop Goodyear moving forward.” It’s not just the large cities within the Phoenix Metro getting AzTAP attention. “While 90 percent of ULI’s programming and engagement takes place in the Phoenix Metropolitan region, there is significant involvement by seasoned ULI thought-leaders throughout Arizona
via the ULI AzTAP,” says ULI Arizona Executive Director Deb Sydenham. “AzTAP provides communities access to high-level land use and real estate professionals, bringing their vast expertise to bear on local land use planning, development and redevelopment challenges.” Evelyn Casuga, of Central Arizona College and formerly APS, has seen two cities undergo AzTAP programs. “It brings expertise there’s no way the smaller communities can afford to have in their backyard,” Casuga says. “The rural communities in Arizona are the diamonds in the rough.” Eloy and Bisbee are among the Pinal and Cochise counties’ cities getting “tapped” by ULI Arizona. “In Eloy, revitalizing and positioning the downtown drove the discussion; In Cochise County, the focus centered around rural
MEMBER SPOTLIGHT
to continue to learn and build relationships with my peers in the industry who are working to have a positive impact on the economic development of our community.
Jeff Mongan Partner, The Athens Group ULI member: More than 20 years Role with ULI: Chair, UrbanPlan Committee and mentor in ULI Partnership Forum WHY ARE YOU A MEMBER OF ULI? ULI provides a forum for learning and sharing best practices with the leaders of the real estate industry. I want 86 | September-October 2015
HOW HAS BEING A MEMBER AFFECTED YOUR PROFESSIONAL CAREER? ULI has positively affected my career in many ways. Over 10 years ago, I became a member of the Recreational Development Council, one of ULI’s national product councils, which gave me an opportunity to build relationships with other executives who specialize in resort and recreational development. I was fortunate to be part of the council leadership team which dramatically accelerated the relationship building with my peers in the industry. At the
Mike Hammond
Melissa Price
open spaces impacted by changing development patterns and economic conditions; And in Bisbee, the ULI panel analyzed strengths to leverage in attracting new development, offered insight relative to market potential and identified redevelopment opportunities,” Sydenham says. “I would encourage all towns and cities to take advantage of the opportunity to exchange ideas, information and experiences from these industry leaders and policy makers who are dedicated to creating and sustaining vibrant and thriving communities,” Price says. “The more we can shine a light on the resources we already have from historical or geographic aspects, I think rural Arizona can certainly and has always been an enhancement to Arizona, the brand,” Casuga concludes.
District Council level, getting involved with Urban Plan has been a great opportunity to utilize my professional experience to work with high school students learning about economics, many of whom will be the future leaders of our community. WHAT IS ONE UPCOMING TREND THAT YOU WANT TO HEAR MORE ABOUT IN THE NEXT 12 MONTHS? I’m interested in learning more about how demographic shifts and wealth transition will impact the recreational and resort development industry. For most of my career, the Baby Boomers were the driving consumer force in our industry and over the next 10 to 15 years that will continue to change.
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ULI Arizona’s ‘Shark Tank’ participants get real By MERYL FISHLER
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he Urban Land institute’s Arizona District Council is bringing together real deals and expert money in an event tailored after popular investment reality show “Shark Tank.” Entrepreneurs present real estate development proposals to a panel of “sharks” (read: veteran real estate investors) and an audience of real estate professionals with hope of being awarded investment capital. ULI Arizona’s “Shark Tank” event features three diverse investment proposals. Candidates are chosen based on their experience, the interest value of their deal and an ability to make a concise and captivating presentation. The top proposals are then selected as the feature presentations at the annual Shark Tank program. When
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looking at applications, the council seeks proposals that appear to have a viable strategy and an applicant who has the ability to analyze a project and present it in a concise way, says Joe Blackbourn, Shark Tank moderator and president and CEO of Everest Holdings. “It is really about education more than anything else,” Blackbourn says. “The ‘Shark Tank’ is really intended for the audience and the applicants to learn how the financial markets react to real estate opportunities.” This year’s event — the third annual — took place Nov. 5, and the panel of expert ‘sharks’ are Meritage Homes Chairman and CEO Steve Hilton; founder and CEO of Pivotal Group, Francis Najafi; and Robert Sarver, chairman and CEO of Western
Alliance Bancorporation. “It allows people who have development ideas and unique propositions to see how an investor, someone in the business, would perceive their proposal and to help them improve their proposals where they are weak or not sound,” Hilton says. “It is more about the people in the audience potentially investing and the different opportunities.” Presenters gain exposure to more than 200 industry professionals, including an array of lenders, private investors, developers and architects who can provide capital and expertise to help bring applicants’ projects to fruition. As the program enters its third year, AZRE looked at where past tankinvested projects are now.
JASON BOYER, ARTHAUS In 2013, when architect Jason Boyer’s condominium project artHAUS was still in concept, he was selected to participate in the first Shark Tank. Boyer had 20-plus years of experience as an architect, but this was his first real development project. “What I was there to do was to really raise awareness about my project and try to generate interest in getting the financing for the project completed, which is not traditionally where my skillset lies as an architect,” Boyer says. artHAUS is a 25-unit residential urban infill development, adjacent to the Midtown Phoenix Arts and Entertainment District. The Shark Tank was an exposure point for Boyer to connect with people of influence in the Arizona real estate and development world and gave him credibility in the community. Shark Tank also provided Boyer with feedback. Everything the sharks said has ultimately come true in one form or another, Boyer says. Boyer didn’t get a deal right out of the gate, but what he did get was a group of people interested in him and his project, as well as people willing to answer the phone when he called. Boyer says he believes what the sharks liked about his proposal was the the project’s temporal relevancy. He says his pitch was well conceived, but the sharks questioned his background as developer due to his lack of depth in that area up to that point. This was something he was very aware of as a hurdle, but things weren’t over for artHAUS.
Jason Boyer at artHAUS. PHOTO BY LAURA BURNETT, AZ BIG MEDIA “In the end, the way I got my project funded was through a combination of relationships and just tenacity (by) sticking to it and believing in the project and the merits of the project,” he says. Construction began on artHAUS in May and is expected to be completed in May 2016. “(Shark Tank) is a voice for up-andcoming entrepreneurial developers in town to get out there,” Boyer says. “It raises awareness for young professionals who have great ideas and are looking for a venue to voice them.”
MEMBER SPOTLIGHT Silvia Urrutia Director of housing and healthcare, Raza Development Fund ULI member: 1 year
WHY ARE YOU A MEMBER OF ULI? Public private partnership HOW HAS BEING A MEMBER AFFECTED YOUR PROFESSIONAL CAREER? Exposure to other professionals has been a great experience. There are wonderful people involved who are very committed to sharing their time and knowledge.
NICK ANDREWS, FAMILY FUN CENTERS OF AMERICA Nick Andrews is a developer, real estate broker and president and CEO of Fun Centers of America. Andrews pitched Fun Centers of America at Talking Stick Resort to the Shark Tank in 2014. The center would be one of the largest and most technologically advanced family entertainment center of its kind. “The difference between our project and the other projects is that the other projects were straight real estate and ours is real estate with operations,” Andrews says. The entertainment facility is just fewer than 67,000 square feet, based on the architectural renderings, and is on approximately six acres of land. The center will specialize in family fun and cater to K-12 students with rock climbing, go-karts and themed birthday party rooms, among the attractions. “It is like Dave & Buster’s meets Crackerjaxs, but with all the new games and attractions that recently came out,” Andrews says. For his presentation, Andrews says 89
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Nick Andrews of Family Fun Center of America. PHOTO BY ROBIN SENDELE, AZ BIG MEDIA the beauty of the project was that his team already had the ball rolling with its lease at Salt River Fields — a shared services agreement, business plan, private placement documentation, subscription agreements prepared by Family Fun Centers of America’s legal team and had everything it needed to begin raising capital. The key for the presentation was to take the main points of the business plan and lay it out in a way that people clearly understand in a short amount of time, Andrews says. “There is nothing like (the Shark Tank),” he says. “How cool is that, guys like me and my partner who are 92 | November-December 2015
visionaries doing amazing family fun type projects here in town have the opportunity to pitch our case to some of the brightest minds in the real estate industry in front of 200 plus Urban Land Institute members, which are notably some of the brightest people in town?” For Andrews, Shark Tank provided exposure and a learning experience. At the end of it, he says, he came away with more confidence about the project.
JANET LEPAGE, DOLCE VILLAGIO Janet LePage has been actively investing in Phoenix since 2008 and is the founder of Western Wealth Capital
Ltd., which provides investment properties in high-growth markets. LePage pitched for equity in the amount $2.4 million for a 37-townhome development. She purchased Dolce Villagio via short sale because the property was going to go into foreclosure. Her business plan was to put in management, normalize rents because they were below market value, improve curb appeal and to draw in the right tenant base. Two weeks before the event, the presenters undergo a pre-Shark Tank interview to prepare and tweak their proposals. “I thought I knew my stuff,” she says.
“I knew this deal very well, but in a matter of 15 minutes, it became very clear that there were a lot of things I didn’t know.” When she was onstage two weeks later, she was ready for all the sharks’ questions that ranged from how the rent per square foot compared with neighboring developments to larger macroeconomic questions. She was able to go head-to-head with three wellrespected people in the industry. “Sometimes, when people are really tough on you, it is absolutely the best experience because there was huge growth to the depth of knowledge that
I really needed to make sure I could get investors and continue to secure (funding),” she says. LePage says she believes what the sharks liked about her proposal was that she knew the microeconomics of the deal, had a tactical business plan and clearly walked them through how they were going to make money. LePage ended up receiving a deal from an audience member. “From that point forward, I have a lot more name recognition and so it added to the overall credibility of what I have been doing,” LePage says. Eight months after making a deal,
Dolce Villagio has been painted, installed new landscaping, rents have increased and everything is going exactly to plan, LePage says. When LePage purchased the property, it was making $550,000 a year and now it makes $720,000 a year. Investors have seen a return on their equity of 120 percent and LePage has done three additional deals beyond Dolce Villagio with the partner she received from Shark Tank. “It is a really fun event that puts like-minded people in a room, and great things happen when you put like mindedpeople in a room,” LePage says.
Janet LePage discusses her project, Dolce Villagio. PHOTO BY LAURA BURNETT, AZ BIG MEDIA
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Evolution of a ULI Arizona member URBANPLAN
By AMANDA VENTURA
ULI
Arizona membership is united by levels of education and involvement. It begins with UrbanPlan, a partnership between the organization and select high schools that introduces students to downtown development before they head to college. At the university level, ULI Arizona works with Arizona State University’s Masters in Real Estate Development program at the W. P. Carey School of Business. ULI Arizona members mentor students before they begin their careers. From here, members can join the Young Leaders Group Partnership Forum Program — a concentrated mentorship program that hosts discussions and guest appearances by high-level executives for small groups of members under the age of 35. The next stage of membership is the associate level, at which members can join the newly formed ULI NEXT Arizona — a peerto-peer mentorship, where ULI Arizona members over the age of 35 can confidentially express their professional goals, case studies and work-life balance among competitors (and peers) in a safe environment. The final stage of membership is “full” membership, a title held by industry vets who support ULI Arizona through committee involvement and volunteering time to programs such as AzTAP.
94 | November-December 2015
Steve Hopper McKinsey & Co. UrbanPlan is a point of entry for high school students to learn about city planning, community revitalization and development. The program was part of Hopper’s senior economics class, which he took in 2006. Even though he took the class nearly a decade ago, he remembers learning how to make difficult choices that he then had to persuade a mock city council to approve. “UrbanPlan was a competition and I wanted to win,” he says. “Each team presented its recommendation on how to redevelop the neighborhood and at the end of the day, the city council (composed of Steve Hopper leaders in the real estate industry in Phoenix) selected a winner.” Hopper’s team placed second, but his positive experience with the program, he says, played a role in his decision to major in economics in college. As a business consultant, Hopper says he uses lessons taken from UrbanPlan every day. “UrbanPlan was the foundation for teaching me how to effectively approach challenging problems and present recommendations,” he says.
COLLEGE-LEVEL/MRED MEMBER
Denise Christensen Habitat Metro “I fell in love with ULI at Trends Day,” Christensen says. “I’m a life-long learner, so it spoke to me.” When Christensen got involved with ULI, she was working in a support role at Land Advisors Organization. During the economic downturn, she joined the Young Leaders Group and Partnership Forum. It’s through this mentorship program that Christensen met ASU professor Andy Conlin. A year after he first broached the idea of Christensen returning to school for her Denise Christensen master’s, she enrolled. The MRED program is a two-semester, 42-credit-hour program that works closely with organizations such as Urban Land Institute to expose students to the next steps in their careers. From Trends Day in Phoenix to ULI’s Fall Meeting in New York, ULI played an important role in Christensen’s education and career move into development. As a direct result of ULI membership, Christensen received three job offers at the end of the MRED program. “I see my ULI involvement as something that’s very much for the duration of my career,” she says.
FULL MEMBER ASSOCIATE, ULI NEXT ARIZONA MEMBER YOUNG LEADERS GROUP/ PARTNERSHIP FORUM MEMBER
Byron Sarhangian, attorney Snell & Wilmer The commercial real estate industry may get a bad rap for all its gray hair, but ULI Arizona has a robust group of 250 indivuduals under the age of 35 who are actively advancing their careers and knowledge of the industry via its Young Leaders Group. For Sarhangian, this would lead to jetsetting in the U.S. and Canada with industry leaders from DMB, Everest Holdings and The Athens Group for product council meetings. “It can be an intimidating Bryon Sarhangian experience, as someone who is young or new to the industry, to show up to events and not know anybody and then have these conversations (where you need to) get to know people as well as your industry,” he says. “ULI does a good job of educating people, new and senior, on the industry and its nuances.” Relationships are formed with an emphasis on trust and confidentiality, he says. This means members are more likely to discuss business practices than try to seek competitive edges and compete against one another at events. “As I look back on involvements I’ve had for the last six years, there has been no organization that has more significantly affected the way I practice and my relationships in the industry,” he says.
Erik Marsh, managing director Newmark Grubb Knight Frank There is a lot of buzz for the under-35 crowd. However, as Marsh will attest, there is still a lot of learning to do at the mid-career level. When ULI members graduate from the Young Leaders Group and Partnership Forum, they can now move to the next phase, co-founded by Marsh, managing director, Newmark Grubb Knight Frank. The group, called ULI NEXT Arizona, has about 30 members at press time. Its focus is on peer-to-peer mentorship instead of senior Erik Marsh members in the industry, Marsh says. The majority of members, he says, have at least six years of experience and are focused on the middle years of their careers. “ULI NEXT Arizona fills this gap between young leaders and senior members,” he says. Topics that are covered include balancing personal and professional responsibilities, as well as improving visibility and stature in the industry. Akin to the Young Leaders Group, ULI NEXT Arizona is confidential. “We’re really able to open up,” he says. “I can always pick up the phone and call someone in my group. It’s not just about calling and asking for business; it’s about asking for thoughts and structure.” While full membership isn’t always the next step for ULI associate members, Marsh says he sees it happening in the future for himself.
Bob Sharpe, president Sharpe & Associates “Over the last 20 years, the Urban Land Institute and its culture of sharing have played an important role in my personal growth as a large scale, residential developer and Rancho Sahuarita’s evolution into one of the most successful master planned communities in the country,” says Sharpe, president of Sharpe & Associates. In 1993, Sharpe acquired 3,000 acres of vacant desert destined to become the Town of Sahuarita. “I had no experience or knowledge that would help me realize my Bob Sharpe life-long vision of building a great place to live,” he says. “Since I was starting from scratch as an inexperienced 30-year-old, I quickly realized that it was important to learn from the experts everything that I possibly could about development.” Sharpe became a member in 1994, a year after he acquired the land. “I immediately sought advice from someone much smarter than me, Tucson’s most respected real estate entrepreneur, Roy Drachman, who had started out as one of the original members of ULI in the 1940s. Roy offered to get me involved with ULI and even to recommend me to be a full member on one of its prestigious development councils if I would promise to do one thing in exchange. He asked me to always give back to ULI and its members as much as I received from them. Although Roy’s request seemed liked an easy one to fulfill, I have spent the last 20 years of my life in various volunteer roles at ULI trying to repay the enormous benefits that I have derived from my membership.” 95