Urban Land Institute 2013 Annual Report
DEVELOPING FOR HUMANITY
U R B A N L A N D I N S T I T U T E 2 0 1 3 A N N U A L R E P O R T | D E V E L O P I N G F O R H U M A N I T Y
The Urban Land Institute provides leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is an independent global nonprofit supported by members representing the entire spectrum of real estate development and land use disciplines. The ULI Foundation’s mission is to support ULI programs and initiatives through philanthropic gifts. With its enormous intellectual capital and extensive volunteer network, the Institute is uniquely positioned to make a lasting impact on the human condition.
Visit uli.org for more information.
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U
LI brings together more than 30,000 experts in the fields of real estate and land use who volunteer their skills and knowledge each year to help communities around the world thrive. Through education and leadership initiatives, our members also mentor the next generation of leaders, instilling them with our passion for building the best possible future. At ULI, it is not just the buildings, neighborhoods, and cities we develop that inspire us, it is the people and the lives they create in these places every day. New urban communities such as Rhode Island Row in Washington, D.C., are the embodiment of our mission. What was once an underused site is now a vibrant, sustainable community that is responsible for revitalizing a neighborhood and enhancing the lives of hundreds of residents just like Audel Shokohzadeh. Our Annual Report reviews the work of ULI over the past financial year, but, more important, recognizes the impact our members have made on their communities.
The knowledge, ideas, and platform for dialogues which ULI provides are invaluable when it comes to planning new communities such as Rhode Island Row. By gaining new insights into best practices from around the world and sharing experiences with other real estate professionals, we are able to create places that have a positive impact on people’s lives and our cities. Victoria Davis, president of Urban Atlantic Development, ULI member, and Terwilliger Center for Housing board member
RHODE ISLAND ROW DEVELOPMENT TEAM Theo Rodgers, A&R Development Corp. Victoria Davis, Urban Atlantic Stan Wall, WMATA Marjorie Rodgers, A&R Development Corp. Urban Atlantic received the 2012 ULI Jack Kemp Award for its work on Rhode Island Row.
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Audel Shokohzadeh
Rhode Island Row, Washington, D.C. “I moved to Rhode Island Row in February 2013 when I was offered a job in Washington, D.C., as a staff assistant to a senator. Politics is my passion and I always wanted to work in D.C., but if it wasn’t for the fact that the development had homes to rent for people on my income, there is no way I could afford to live in the city. “I use the Metro to get to work every day, as the station is only a minute from my front door, and it is also useful for meeting my friends who live all around the city. I love not having to drive everywhere, and now I don’t even have a car. “The environment is a really important issue to me, and the development helps me play my part in preserving it for the future. Not only can I use public transit to get everywhere, but there are recycling facilities on site and energy-saving lighting and heating in my apartment. “Most importantly, there is a real sense of community. You meet people of all ages and from all walks of life around the development, and the roof terrace and community center are great places to meet other residents. Everybody is friendly and it really feels like home.”
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ULI Atlanta member graduates of the Center for Leadership.
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Message from the Chairman and CEO
Y
ou may be wondering why there is a handprint in cement on the cover of our 2013 Annual Report. The answer is simple: ULI is about people. It’s about the critical role ULI plays in the creation of communities that people enjoy, rather than merely endure. The handprint is illustrative of the lasting impact ULI makes on communities around the world; and, it is symbolic of the long-term nature of the land use business that compels us to get it right. One example of getting it right is Rhode Island Row in Washington, D.C., which appears on the opening pages of this year’s report. This exemplary development, a winner of the Terwilliger Center’s Jack Kemp Workforce Housing Models of Excellence Awards, shows how our members are making a difference—every day. The report covers fiscal year 2013 (July 1, 2012, through June 30, 2013)—a busy year for ULI, even by ULI’s standards. We formed relationships that would have been unheard of just ten years ago, such as those with the World Economic Forum, Aga Khan University, Clinton Climate Initiative, and Singapore’s Centre for Liveable Cities. Other highlights: ■■ The ULI Greenprint Center for Building Performance
published an updated report showing improved building efficiency among Greenprint members. ■■ The Rose Center for Public Leadership worked
with its fellows in Louisville, Kentucky; Austin, Texas; Hartford, Connecticut; and Tacoma, Washington, on turning land use challenges into community assets. ■■ The second ULI Asia Pacific Real Estate Summit
in Shanghai built on the success of the 2012 summit in Beijing. ■■ The establishment of ULI Ireland marked our
14th national council in Europe, reflecting increased member involvement throughout the region. ■■ Initial work began on our Building Healthy Places
Supporting all of this were hundreds of activities occurring throughout the year. On any given week in 2013, it’s a safe bet that somewhere, in some city in America, Europe, or Asia, a ULI advisory panel was preparing redevelopment recommendations. Young Leaders were networking. Council programs were examining how national trends affect the local market. Findings from a ULI report were being shared through social media and ULI.org. A ULI webinar was explaining the nuts and bolts of getting started in land use. An awards jury was selecting winners from a list of cutting-edge projects. A real estate entrepreneur was being interviewed for Urban Land magazine. All of this contributed to ULI’s global success. As ULI expanded its reach in 2013, it also became more decentralized, which was reflected in a new governance structure for the District and National Council network. The Institute benefited from a new governance structure consisting of a board of directors, created to oversee strategy and administration, freeing up the ULI trustees to focus on the Institute’s intellectual content and guide its priority areas. ULI also benefited from the creation of a new ULI Foundation board that oversees Foundation support for ULI. These new governing bodies are working in lockstep to advance ULI’s mission. Creating thriving, economically successful communities is, above all, what matters most. The program of work in the Annual Report is organized around six areas of focus: Developing Excellence through Education; Driving Innovation in Real Estate and Urban Development; Advising Communities in Need; Shaping Cities and Regions; Building Sustainably; and Connecting Capital and the Built Environment. In each of these areas, you will find significant progress made toward advancing ULI’s mission locally and globally. We hope you find our Annual Report informative and enlightening. Thank you for supporting ULI.
Initiative, which is defining the role of land use in building for health and wellness.
Peter S. Rummell ULI Chairman, July 1, 2011–June 30, 2013
Patrick L. Phillips ULI Chief Executive Officer
MESSAGE FROM THE CHAIRMAN AND CEO
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Message from the ULI Foundation Chairman
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he ULI Foundation’s mission is to support ULI programs and initiatives through philanthropic gifts. With its enormous intellectual capital and extensive volunteer network, the Institute is uniquely positioned to make a lasting impact on the human condition. ULI’s impact is the impact of more than 30,000 land use and real estate leaders, all sharing a commitment to build a better world. Every day, ULI—through the work of its members—improves the lives of millions of people around the globe by creating communities that are prosperous, sustainable, and livable. By choosing to be part of ULI, we are embracing a cause that is noble, transformative, and profound. Our cause is this: promoting responsible land use to help people achieve a higher quality of life and improve economic productivity. ULI’s work bridges the gap between macro-level concepts too abstract for practical use, and microlevel details too specific to be widely applicable. Our influence is not always immediately apparent, because it affects how cities grow—and that is, of course, a long-term process. But what we do matters for the long haul. The 2013 Annual Report provides a snapshot of how ULI’s work inspires outcomes of lasting benefit. This is illustrated in the testimonial of Audel Shokohzadeh, a U.S. government employee whose day-to-day life in Washington, D.C., was made easier by the opportunity to live in workforce housing—a development recognized with a 2012 award from the ULI Terwilliger Center for Housing.
With our enormous intellectual capital and extensive volunteer network, ULI’s global imprint is like that of no other land use organization. This phenomenal impact is why I’m proud to chair the ULI Foundation. It’s why I’m passionate about ULI as an institution worthy of philanthropic gifts. It’s why I take great pride in the Foundation’s support for the Institute’s work highlighted in this Annual Report. Every ULI publication, every convening, every service is a tool to spur action—and ultimately, provide a positive outcome. Giving to ULI is giving to an organization that is taking on the tough issues that affect people’s lives. Issues like how to provide affordable housing. Create safe streets. Offer transit alternatives. Conserve energy and natural resources. Protect the environment. These are quality-of-life issues. These are issues that define the future. They shape the choices people make about where and how they live. They shape the choices that businesses, communities, and regions make about where to invest and where to grow. And ULI’s involvement in these issues—as documented in this report—will lead to better choices that make a better world.
James J. Curtis III ULI Foundation Chairman
Audel’s story reminds us that our business is a people business. How people feel about their communities is important. And while what they want and need changes over time, what does not change is the basic desire for a high quality of life. This presents an extraordinary opportunity for all of us. Not because we build places, but because we shape people’s lives.
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| ULI 2013 ANNUAL REPORT
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In Nashville, Tennessee, residents and visitors alike enjoy Cumberland Park, a 2013 Urban Open Space Award finalist.
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ULI’s Global Impact 30,000
Global Members
Organized into 125 member communities connecting people with shared experiences and interests
75
Member Countries
ULI has members in 75 countries around the world
5,000,000
$
Equivalent value of time donated by ULI district and national councils to their communities
4,215
Student Participants
Student participants in ULI's UrbanPlan program and the Gerald D. Hines Student Urban Design Competition in the current academic year
The ULI social media network reaches over 300,000 people globally each year.
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ULI brings together more than 30,000 experts in the fields of real estate and land use who each year help communities around the world thrive. In 2013, we made a significant impact through education and leadership initiatives that instill our passion for building the best possible future across the world.
273
Governors
ULI Foundation Governors donating time and money to further ULI’s philanthropic works
1,573,000
$
Raised by the ULI Foundation Annual Fund in 2013
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50,615 Cars’ worth of CO2 emissions eliminated by ULI Greenprint members since inception
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Advisory Service Panels
More than 250 members volunteered their expertise as panelists in 2013, taking the total number of communities helped by the program to over 600 since 1947
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The cover of Urban Land, the magazine of the Urban Land Institute, featuring Riverfront Park in Denver, a ULI Award for Excellence winner.
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| ULI 2013 ANNUAL REPORT
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ULI FINANCIAL PERFORMANCE BA LA N C E S H EET
ULI Financial Performance “What we’ve achieved this year— through initiatives both global and local—represents great progress in broadening our influence and in making ULI matter to more people in more places.” —Peter Rummell Principal, Rummell Company
Assets Cash and short-term investments Receivables, net Funding for ULIF (loan callback) ULIF temporarily restricted gifts ULIF operations Other Inventory Prepaid expenses and deposits Investments Property and equipment, net Total assets Liabilities Accounts payable Accrued expenses Deferred revenue Deferred rent Total liabilities Net assets Unrestricted Undesignated Board designated—District Councils Total unrestricted Temporarily restricted Total net assets
2013
2012
8,074,401
7,227,089
10,000,000 25,928,755 3,158,935 1,506,339 216,662 982,106 4,240,953 2,031,436
10,000,000 26,097,382 2,341,868 1,086,439 220,775 821,352 3,974,532 2,701,105
56,139,587
54,470,542
2,586,684 2,815,093 8,687,328 613,573
2,000,563 2,628,701 8,802,445 763,260
14,702,678
14,194,969
7,570,473 7,886,080
7,376,032 6,748,635
15,456,553 25,980,356
14,124,667 26,150,906
41,436,909
40,275,573
56,139,587
54,470,542
STATEMENT OF ACTIVITIES 2013 Global operations
District Councils
Temp restricted
Total
2012
Revenue and support District Council (local programs) Meetings and conferences Membership Content Advisory Services Urban Land magazine Product Councils Publishing Professional development District Council support from ULI Awards Net assets released from restrictions Other
— 12,652,471 11,945,326 6,714,438 1,386,743 1,384,697 1,381,149 863,114 769,278 614,894 608,912 — 123,812
18,363,492 — — — — — — — — — — — —
— — — — — — — — — — — (170,550) —
18,363,492 12,652,471 11,945,326 6,714,438 1,386,743 1,384,697 1,381,149 863,114 769,278 614,894 608,912 (170,550) 123,812
17,741,770 12,806,956 11,298,443 5,850,338 1,672,119 1,398,473 1,190,566 804,569 696,936 744,025 286,355 (1,243,538) 137,095
Total revenue and support
38,444,834
18,363,492
(170,550)
56,637,776
53,384,107
— 7,503,358 2,985,902 9,269,091 1,492,105 1,900,874 1,730,791 985,455 883,096 5,421,423 916,269 2,241,880 1,967,408 1,100,950
17,226,047 — — — — — — — — — — — — —
— — — — — — — — — — — — — —
17,226,047 7,503,358 2,985,902 9,269,091 1,492,105 1,900,874 1,730,791 985,455 883,096 5,421,423 916,269 2,241,880 1,967,408 1,100,950
16,413,413 7,739,407 2,561,013 8,970,056 1,645,806 2,096,675 1,649,924 1,153,688 896,416 5,074,169 639,304 1,848,273 1,275,119 1,304,491
38,398,602
17,226,047
—
55,624,649
53,267,754
46,232 148,209 194,441
1,137,445 — 1,137,445
(170,550) — (170,550)
1,013,127 148,209 1,161,336
116,353 35,697 152,050
Expenses District Council (local programs) Meetings and conferences Membership Content Advisory Services Urban Land magazine Product Councils Publishing Professional development District Council support from ULI Awards Strategic Communications ULI Foundation contribution Development Total expenses Net income before investments Investment gain / (loss) Change in net assets
ULI FINANCIAL PERFORMANCE | 9
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Trustees and Governance ULI BOARD OF DIRECTORS Peter Rummell, Chairman Jeremy Newsum, Immediate Past Chairman James J. Curtis, ULI Foundation Chairman Scott Malkin, Europe Chairman Raymond Chow, Asia Representative Patrick L. Phillips, ULI CEO Charles Leitner, Treasurer Lynn Thurber, Secretary Joseph Azrack, At Large Randall Bone, At Large Michael D. Fascitelli, At Large Robert Lieber, At Large Todd Mansfield, At Large Hamid Moghadam, At Large Jon Zehner, At Large
ULI OPERATING COMMITTEE Patrick L. Phillips, Chairman Peter Rummell, Ex-Officio Richard Dishnica, Councils Gadi Kaufmann, Membership David Mayhood, District Councils Steve Navarro, Program Bret Wilkerson, Policy & Practice
TRUSTEES Douglas D. Abbey Chairman, Swift Real Estate Partners San Francisco, CA Naoto Aiba Director and Senior Executive Officer Mitsubishi Estate Co. Ltd. Tokyo, Japan Joseph F. Azrack Managing Partner Apollo Global Real Estate New York, NY Peter E. Baccile UBS New York, NY Jeff T. Blau Chief Executive Officer The Related Companies LP New York, NY Randall Bone President and COO Sunrise Company Aspen, CO Jonathan H. Brinsden Executive Vice President/Chief Operating Officer Midway Companies Houston, TX Cia Buckley Chief Investment Officer Dune Real Estate Partners LP New York, NY
John L. Bucksbaum CEO Bucksbaum Retail Properties LLC Chicago, IL Preston Butcher Chairman and Chief Executive Officer Legacy Partners Foster City, CA Joseph C. Canizaro* President/Chief Executive Officer Columbus Properties LP New Orleans, LA Colleen M. Carey President The Cornerstone Group Bloomington, MN Lynn Carlton Director of Planning 360 Architecture Kansas City, MO Daryl J. Carter Chairman and Chief Executive Officer Avanath Capital Management Irvine, CA James J. Chaffin* Chairman Chaffin Light Management LLC Okatie, SC J. Christopher Chaffin VP Development Chaffin Light Management LLC Okatie, SC Anthony Chang Vice President Cassidy Turley Vienna, VA Koon Hean Cheong Chief Executive Officer HDB Hub Singapore Raymond Chow Executive Director Hongkong Land Ltd. Central, Hong Kong Frank Cohen Senior Managing Director Blackstone Real Estate Advisors New York, NY Michael Covarrubias Chairman and CEO TMG Partners San Francisco, CA James J. Curtis Managing Partner Bristol Group Inc. San Francisco, CA John C. Cushman Cochairman of the Board Cushman & Wakefield Inc. Los Angeles, CA Richard J. Dishnica President The Dishnica Company LLC Point Richmond, CA Michael D. Fascitelli Vornado Realty Trust New York, NY
* Past Chairman of ULI
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Charles H. Fedalen Executive Vice President Group Head, Wells Fargo CRE Institutional & Metro Markets Group Wells Fargo Real Estate Banking Group Irvine, CA Michael Foust Chief Executive Officer Digital Realty Trust San Francisco, CA Harry H. Frampton* Managing Partner East West Partners—Western Division Avon, CO Theresa O. Frankiewicz Vice President of Community Development Crown Community Development Naperville, IL Lizanne Galbreath Managing Partner Galbreath & Company Norwalk, CT Thomas Garbutt Head of Global Real Estate TIAA-CREF New York, NY Mark D. Gibson Executive Managing Director HFF Dallas, TX Richard M. Gollis Principal The Concord Group LLC Newport Beach, CA Rosalind E. Gorin President and CEO H.N. Gorin Inc. Boston, MA Gerard H.W. Groener Chief Executive Officer Corio Utrecht, Netherlands Greenlaw Grupe* Chairman The Grupe Company Stockton, CA John S. Hagestad Managing Director Sares Regis Group Irvine, CA John J. Healy Principal Hyde Street Holdings LLC Raleigh, NC Pamela J. Herbst Managing Director AEW Capital Management LP Boston, MA John W. Higgins Chairman, Chief Executive Officer Higgins Development Partners Chicago, IL Dorine Holsey Streeter Executive Vice President James Campbell Company LLC San Francisco, CA
Kenneth W. Hubbard Executive Vice President Hines New York, NY Kirk Humphreys Chairman The Humphreys Company Oklahoma City, OK Gregory K. Johnson President Wright Runstad & Company Seattle, WA Marty Jones President and CEO MassDevelopment Boston, MA Neisen O. Kasdin Managing Shareholder Akerman Senterfitt Miami, FL Chaim Katzman Chairman of the Board Gazit Group USA Inc. Miami, FL Gadi Kaufmann Managing Director/Chief Executive Officer RCLCO Bethesda, MD Anne T. Kavanagh Global Head of Asset Management AXA Real Estate Investment Managers London, United Kingdom Michael F. Kelly* Retired Managing Director Madison Marquette Realty Services Edina, MN Mary Ann King President Moran & Company Irvine, CA Bill Kistler Managing Partner Kistler & Company London, United Kingdom James D. Klingbeil* Chairman and CEO Klingbeil Capital Management San Francisco, CA Barbara Knoflach Chief Executive Officer SEB Asset Management AG Frankfurt, Germany Hakan Kodal President and CEO KREA Real Estate Istanbul, Turkey A. Eugene Kohn Chairman Kohn Pedersen Fox New York, NY Jeffrey S. Kott Managing Partner Bristol Group San Francisco, CA John Z. Kukral President Northwood Investors New York, NY
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TRUSTEES AND GOVERNANCE Christopher W. Kurz President and CEO Linden Associates Inc. Baltimore, MD
Marc Mogull Managing Partner Benson Elliot Capital Management London, United Kingdom
Richard T.G. Price Chief Executive–Asia Pacific CBRE Global Investors Central, Hong Kong
Martin E. Stein Chairman/Chief Executive Officer Regency Centers Corporation Jacksonville, FL
Reinhard Kutscher Chairman of the Management Board Union Investment Real Estate GmbH Hamburg, Germany
Gerard Mooney VP, Global Smarter Cities IBM Hopewell Junction, NY
I. Rocke Ransen* Chairman/CEO Mondev International Ltd. Montreal, Canada
Van J. Stults Managing Director Orion Capital Managers London, United Kingdom
M. Leanne Lachman President Lachman Associates LLC New York, NY
Barry G. Moss Partner/Principal Ernst & Young LLP New York, NY
Diana Reid Executive Vice President PNC Real Estate Pittsburgh, PA
Ron D. Sturzenegger Legacy Asset Servicing Executive Bank of America Merrill Lynch Calabasas, CA
Steven R. LeBlanc Founding Partner CapRidge Partners LLC Austin, TX
Bahram Motamedian Managing Director, Portfolio Management USAA Real Estate Company San Antonio, TX
Dale Anne Reiss Artemis Advisors LLC New York, NY
Marilyn Jordan Taylor* Dean and Paley Professor University of Pennsylvania School of Design Philadelphia, PA
Charles B. Leitner President The Berkshire Group Boston, MA Robert C. Lieber Executive Managing Director Island Capital Group New York, NY Peter D. Linneman Chief Executive Officer American Land Fund Philadelphia, PA Vincent H.S. Lo Chairman Shui On Holdings Ltd. Wanchai, Hong Kong Mary K. Ludgin Managing Director Heitman Chicago, IL Victor B. MacFarlane CEO MacFarlane Partners San Francisco, CA Scott D. Malkin Chairman of ULI Europe Value Retail plc and SD Malkin Properties London, United Kingdom Todd W. Mansfield* President and CEO Crescent Resources LLC Charlotte, NC Roy Hilton March Chief Executive Officer Eastdil Secured Santa Monica, CA Lauralee E. Martin President and CEO HCP Long Beach, CA David R. Mayhood President Mayhood Company McLean, VA Robert B. McLeod Chairman/Chief Executive Officer Newland Real Estate Group San Diego, CA John E. McNellis Partner McNellis Partners LLC Palo Alto, CA Robert R. Merck Senior Managing Director MetLife Real Estate Morristown, NJ Hamid R. Moghadam Chairman and CEO Prologis San Francisco, CA
Stephen P. Navarro President and CEO CBRE/Furman Co. Greenville, SC Daniel M. Neidich Chief Executive Officer Dune Real Estate Partners New York, NY Jeremy Newsum* Executive Trustee Grosvenor London, United Kingdom Robert O’Brien Partner Deloitte Chicago, IL Joseph W. O’Connor* President and Chief Executive Officer Singleton Associates North Palm Beach, FL Dennis D. Oklak Chairman/President/CEO Duke Realty Indianapolis, IN Roger G. Orf Managing Director Apollo Management International LLP London, United Kingdom Alexander Otto Chief Executive Officer ECE Projektmanagement GmbH & Co. KG Hamburg, Germany Thomas D. Owens Senior Managing Director/ Chief Risk Officer Hines Houston, TX Peter A. Pappas President/Managing Partner Pappas Properties LLC Charlotte, NC Gerald N. Parkes Chief Executive Officer Pacific Real Estate Capital Partners London, United Kingdom Richard L. Perlmutter Principal Argo Development Company Rockville, MD Marc Perrin The Roxborough Group San Francisco, CA Patrick L. Phillips Chief Executive Officer Urban Land Institute Washington, DC Olivier Piani Chief Executive Officer Allianz Real Estate GmbH Paris, France Richard H. Powers Greenwich, CT
Kim A. Richards President The Athens Group Phoenix, AZ
J. Ronald Terwilliger* Oyster Bay, NY
Philip A. Riordan GE Asset Management Stamford, CT
Owen D. Thomas Chief Executive Officer Boston Properties New York, NY
Struan Robertson Executive Vice President Host Hotels & Resorts LP Bethesda, MD
Lynn Thurber Chairman LaSalle Investment Management Chicago, IL
Joseph B. Rose Partner The Georgetown Company New York, NY
Alyson Toombs Managing Director Silvermine Development Partners LLC New Canaan, CT
Kenneth T. Rosen Chairman Fisher Center for R.E. & U.E. Haas School of Business Berkeley, CA
Thomas W. Toomey President/Chief Executive Officer UDR Inc Littleton, CO
Randy K. Rowe Chairman Green Courte Partners LLC Lake Forest, IL
Simon Treacy Managing Director, Global CIO and Head of U.S. Equity BlackRock Real Estate New York, NY
Peter S. Rummell Principal Rummell Company Jacksonville, FL
Simon M. Turner President, Global Development Starwood Hotels and Resorts Stamford, CT
Hitoshi Saito Executive Managing Director Mitsui Fudosan Co. Ltd. Tokyo, Japan
Daniel C. Van Epp Executive Vice President Newland Real Estate Group Las Vegas, NV
Richard B. Saltzman President Colony Capital LLC New York, NY
Greg J. Vogel Chief Executive Officer Land Advisors Organization Scottsdale, AZ
Deborah Ratner Salzberg President Forest City Enterprises Inc. Washington, DC
John M. Walsh President TIG Real Estate Services Inc. Dallas, TX
Robert M. Sharpe Managing Partner Rancho Sahuarita Tucson, AZ
Jaidev Watumull Vice President Watumull Properties Corporation Honolulu, HI
Jonathan Short Executive Chairman & Founding Partner Internos Real Investors London, United Kingdom
Ronald Weidner Founder and CEO PLB Capital Partners San Francisco, CA
Kelley J. Smith Principal Kensington Realty Advisors Chicago, IL
Bret R. Wilkerson Managing Director Hawkeye Partners LP Austin, TX
J. Allen Smith Chief Executive Officer Prudential Real Estate Investors Madison, NJ
Kazuhiko Yamamoto Executive Vice President Mori Building Company Ltd. Tokyo, Japan
Michael Spies Senior Managing Director Tishman Speyer London, United Kingdom
Smedes York* Chairman York Properties Inc. Raleigh, NC
Geoffrey L. Stack Managing Director Sares Regis Group Irvine, CA
Jon H. Zehner Global Head of Capital Markets LaSalle Investment Management London, United Kingdom
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ULI Foundation Financial Performance BA LA NCE S H E E T 2013
2012
Assets Cash and short-term investments Endowment and annual fund pledges Long-term investment Website net of amortization Accrued interest receivable
532,867 10,041,436 44,316,915 17,633 91,261
1,100,473 10,307,745 40,537,505 9,058 97,199
Total assets
55,000,112
52,051,980
Liabilities ULI reserve Accounts payable Grant funds in advance
10,000,000 3,158,936 60,139
10,000,000 2,341,868 122,090
Total liabilities
13,219,075
12,463,958 ULI’s Governors’ Retreat at Silicon Valley.
Net assets Unrestricted Temporarily restricted Permanently restricted
5,982,131 26,814,666 8,984,240
4,130,669 26,869,464 8,587,889
Total net assets
41,781,037
39,588,022
Total net assets and liabilities
55,000,112
52,051,980
Unrestricted
Temporarily restricted
Permanently restricted
Total
2012 total
Support and revenue Contributions Contributions from ULI Interest and dividends, net of fees Net assets released from restrictions
920,309 1,967,408 367,571 3,936,810
1,487,187 — 547,656 (3,909,050)
363,110 — 14,122 (27,760)
2,770,606 1,967,408 929,349 —
4,013,827 1,275,119 753,937 —
Total support and revenue
7,192,098
(1,874,207)
349,472
5,667,363
6,042,883
Expenses Grants to ULI Fundraising General and administrative
5,284,415 563,332 684,613
— — —
— — —
5,284,415 563,332 684,613
5,325,680 1,415,365 357,423
Total expense
6,532,360
—
—
6,532,360
7,098,468
Change in net assets before investment gain Investment gain / (loss)
659,738 1,191,724
(1,874,207) 1,819,409
349,472 46,879
(864,997) 3,058,012
(1,055,585) (506,969)
Change in net assets
1,851,462
(54,798)
396,351
2,193,015
(1,562,554)
STATEMENT OF ACTIVITIES 2013
“From Hong Kong to Houston, from Los Angeles to London, ULI’s guidance is trusted and effective. In a world transformed by technology and economic globalization, the world’s cities need ULI’s wisdom now more than ever. We are all the better for your dedication, your perseverance, and your commitment to creating a more sustainable world.” —Former U.S. President Bill Clinton
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ULI FOUNDATION ULI Gerald D. Hines Student Urban Design Competition.
U L I F O U N D AT I O N
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ULI Foundation Governors Program Benefactor $1 MILLION OR MORE John Bucksbaum Joseph Canizaro Gerald Hines James Klingbeil Daniel Rose J. Ronald Terwilliger
Sustainer $500,000 TO $999,999 Stephen Chamberlin Susan Chamberlin James Curtis Stan Ross
Developer
Frank Transue
Governor $50,000 TO $99,999 Andrea Amadesi John Anderson Kenneth Balin Peter Bedford Marshall Bennett Jeff Blau David Bohannon G. Niles Bolton Clifford Booth Mary Borgia Kenneth Brody Joseph Brown William Burge Tim Byrne William Caldwell
Patrick Callahan James Callard Suzanne Cameron R. Byron Carlock Dougal Casey George Casey Daniel Cashdan John Cecil Kathleen Cecilian James Chaffin A. Larry Chapman David Christensen Martin Cicco Frank Cohen Michael Covarrubias Glen Coverdale Thomas Cox Douglas Crocker James Didion Richard Diedrich Richard Dishnica
Thomas Donnelly Wayne Doran Ronald Druker Ronald Eastman Eric Eichler Ray Ellison Douglas Etkin Stephen Evans Michael D. Fascitelli Gary Fenchuk Arthur Fields Stephen Furnary John Gates Alan George Pat Goldstein John Graham Harvey Green Kevin Hackett Veronica Hackett V.R. Halter W. Easley Hamner
$250,000 TO $499,999 Douglas Abbey Charles Cobb Bruce Etkin William Ferguson Harry Frampton Lizanne Galbreath Greenlaw Grupe John Hagestad Michael Horst Charles Leitner Bowen McCoy Robert McLeod Ronald Nahas Jon Reynolds Peter Rummell James Todd Greg Vogel
Builder $100,000 TO $249,999 Toni Alexander Mahlon Apgar Joseph Azrack Preston Butcher James DeFrancia Richard Gollis Rosalind Gorin James Harris John Healy Patricia Healy Gadi Kaufmann Mark Kehke Frederick Kober Eric Larson Anthony Mansour Francis Najafi Roger Orf Patrick L. Phillips Jerome Rappaport Michael Schueler Geoffrey Stack Lynn Thurber Thomas Toomey
Lizanne Galbreath and son Kyle Megrue at the ULI Governors’ Retreat at Silicon Valley.
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ULI FOUNDATION
James Harper Thomas Harrison Michael Hayde W. Dean Henry E. Eddie Henson John Herbert Dorine Holsey Streeter David Howerton Kenneth Hubbard Kenneth Hughes Phillip Hughes Robert Hughes Gregory Hummel Wayne Hyatt Stanley Iezman Thomas Ike Clyde Jackson F. Scott Jackson Randal Jackson Edward James Frank Jansen Bruce Johnson David Johnson Gregory Johnson Neisen Kasdin I. Michael Kasser Gerald Katell Edmond Kavounas Michael Kelly Stuart Ketchum
Donald King Robert Kline Donald Knab Carl Koelbel Walter Koelbel A. Eugene Kohn Jeffrey Kott Mark Kroll Craig Krumwiede James Kuhn John Kukral Christopher Kurz M. Leanne Lachman Tom Lang Patrick Leardo Steven LeBlanc Randall Lewis Robert Lieber James Light Peter Linneman Stuart Lipton Anthony LoPinto Robert Lowe Jeremiah Lucey Bruce Ludwig Victor MacFarlane James Maginn Robert Maguire Akio Makiyama Scott Malkin
Todd Mansfield Roy March George Marcus Marvin Marshall J. Kell Martin Melinda Masson Michael Matkins David Mayhood William McCall Lynn McCarthy Thomas McMullen Donald McNamara John McNellis Raymond Mikulich Henry Miller Peter Moister Barry Moss Vicki Mullins Raymond Nasher Daniel Neidich David Nelson Jeremy Newsum Robert Nilsson George Nolte Robert O'Brien Joseph O'Connor John O'Donnell Henry Paparazzo Peter Pappas Gerald Parkes Darryl Parmenter Philip Payne George Peacock John Pearcy Richard Peiser Richard Perlmutter Fredrick Petri Dante Petrocchi Michael Phillips Willis Polite Lat Wesley Purser Stephen Quazzo Whayne Quin I. Rocke Ransen Wayne Ratkovich James Ratner John Reed Dale Anne Reiss Richard Reynolds William Reynolds Kim Richards James Richmond John Ropes Richard Rosan Alex Rose Ronald Rosenfeld Howard Roth Randall Rowe Mitchell Rudin Robert Ruth Richard Saltzman Federico Sanchez-Febles Federico Sanchez-Ortiz Lynn Sedway Gregory Senkevitch Robert Sharpe Harold Shipp Ronald Silverman Richard Sim Richard Sinkuler Matthew Slepin Adrian Smith James Smith Kelley Smith Jerry Speyer Michael Spies Frank Stanek Robert Steinberg Phillip Stephens Robert Stine Federico Stubbe Jeffrey Swope A. Alfred Taubman Marilyn Jordan Taylor John Temple Owen Thomas
“ The power of an endowment is that it allows you to deliver on your mission in both good times and bad.” —Mark Kehke, ULI Foundation Governor William Tooley Daniel Van Epp Alexis Victors Mark Viets George von Liphart David Waite John Walsh Robert Webster Robert Weekley Gregory Weingast John Williams Leonard Wood Dennis Yeskey Smedes York Roger Zanarini F. Karl Zavitkovsky Jon Zehner Samuel Zell Claude Zinngrabe
ULI FOUNDATION BOARD OF DIRECTORS James Curtis, ULI Foundation Chairman James Klingbeil, ULI Foundation Chairman Emeritus Peter Rummell, ULI Chairman Patrick Phillips, ULI CEO Randy Rowe, Treasurer John Healy, Secretary Geoffrey Stack, Annual Fund Chairman Roger Orf, ULI Charitable Trust Chairman John Bucksbaum, At-Large Bruce Etkin, At-Large Rosalind Gorin, At-Large Robert Lieber, At-Large James Todd, At-Large Bret Wilkerson, At-Large
U L I F O U N D AT I O N
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ULI Foundation Major Donors Major Gifts and Endowments J. Ronald Terwilliger ULI J. Ronald Terwilliger Center for Housing ULI J. Ronald Terwilliger Chair for Housing Daniel Rose ULI Daniel Rose Center for Public Leadership in Land Use Miller Nichols Charitable Foundation ULI J.C. Nichols Prize for Visionaries in Urban Development Gerald Hines ULI Gerald D. Hines Student Urban Design Competition Joseph C. Canizaro James D. Klingbeil ULI Canizaro/Klingbeil Families Chair for Urban Design Matthew and John Bucksbaum ULI Bucksbaum Family Chair for Retail
Bruce Etkin Graduate Student Fellowship: University of Colorado
Estate Gifts
Bowen “Buzz” McCoy ULI McCoy Symposium on Real Estate Finance
Melvin Simon Lawrence Smith
Charles H. Shaw (1933–2006) ULI Charles H. Shaw Forum on Urban Community Issues Robert C. Larson (1934–2010), Thomas W. Toomey, and Michael Horst ULI Robert C. Larson Leadership Initiative
Randall Lewis Building Healthy Places Initiative
Douglas D. Abbey ULI Douglas D. Abbey Research and Education Endowment
James Todd Ten Principles of Building Healthy Places
Carolyn and Preston Butcher ULI Carolyn and Preston Butcher Forum on Multifamily Housing
Legacy Circle Members
Peter Rummell, Harry Frampton ULI Charles E. Fraser Chair for Sustainable Development and Environmental Policy
Joseph C. Canizaro James J. Curtis Bruce Etkin Greenlaw Grupe John S. Hagestad Stuart Ketchum James D. Klingbeil Roy Hilton March Bowen “Buzz” McCoy Peter S. Rummell Greg Vogel
Charles Leitner ULI Greenprint Center for Building Performance Steve and Susan Chamberlin Graduate Student Fellowships: University of California at Berkeley, University of Pennsylvania, and Cornell University
George Marcus Real Estate Entrepreneurs Program
John S. Hagestad ULI Advisory Services Program
J. Ronald Terwilliger ULI J. Ronald Terwilliger Chair for Housing
Stan Ross ULI Stan Ross Real Estate Trends Conference
2013 Project Gifts
Bruce Johnson Building for Wellness: The Business Case Peter Pappas Profiles in Leadership Linda Law Women’s Leadership Initiative Peter Rummell Charles E. Fraser Chair for Sustainable Development Patricia and John Healy Real Estate and Technology Initiative Greg Vogel Large Landowners Forum Kenneth Hubbard ULI Greenprint Center for Building Performance
ULI’ S P RO G R A M P R I O R I T I E S ADVISING COMMUNITIES IN NEED
SHAPING CITIES AND REGIONS
Deliver the experience and expertise of ULI members to communities facing critical land use challenges
Foster the planning and development of vibrant, competitive metropolitan areas through sharing global best practices and promoting effective relationships among business, government, and community stakeholders
DEVELOPING EXCELLENCE THROUGH EDUCATION Create learning experiences that develop professional expertise and personal leadership skills in support of the individual, the community, and the real estate industry
DRIVING INNOVATION IN REAL ESTATE AND URBAN DEVELOPMENT Analyze the evolution of real estate market demand, changing technology, policy trends, and investment patterns to help identify opportunities, develop creative responses, and manage risk
BUILDING SUSTAINABLY Clarify the connections among responsible use of resources, the built environment, and long-term environmental health, and demonstrate a compelling business case for resource efficiency
CONNECTING CAPITAL AND THE BUILT ENVIRONMENT Ensure the attractiveness of real estate to global allocators of capital by understanding and explaining the dynamics affecting real estate value
G
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ULI FOUNDATION
Gerald D. Hines
U L I F O U N D AT I O N
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National and District Councils
U District Councils convene community leaders at a Reality Check program to reach consensus on future growth and development in their region.
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LI’s network of 71 District Councils and National Councils worldwide has continued to have a meaningful impact at the local level, delivering over 1,100 programs attended by more than 70,000 people. The District and National Council network provides ULI’s more than 30,000 members with a unique platform to connect with
each other and learn from shared knowledge and experience while also giving back to and making a real difference in their local communities. Members provide impact through a wide range of initiatives, including Technical Assistance Program (TAP) panels, workshops for public officials, assistance with
ULI research, and involvement in many other initiatives. Though the skills, expertise, and insight that members provide to their communities are priceless, it is conservatively estimated that the value of their time alone would have exceeded $5 million last year.
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COUNCILS
ULI’s National and District Council Network
National Councils
District Councils
ULI Barcelona ULI Belgium ULI France ULI Germany ULI Greece ULI Ireland ULI Italy ULI Madrid ULI Netherlands ULI Portugal ULI Russia ULI Sweden ULI Turkey ULI United Kingdon
ULI Arizona ULI Atlanta ULI Austin ULI Baltimore ULI Boston ULI British Columbia ULI Central Florida ULI Charlotte ULI Chicago ULI Cincinnati ULI Cleveland ULI Colorado ULI Columbus ULI Hampton Roads ULI Hawaii ULI Houston ULI Idaho ULI Indiana ULI Kansas City ULI Los Angeles ULI Louisiana ULI Memphis
ULI North Asia ULI South Asia ULI Mainland China ULI Japan ULI Singapore ULI Australia ULI Philippines
ULI Mexico ULI Michigan ULI Minnesota ULI Nashville ULI Nevada ULI New Mexico ULI New York ULI North Florida ULI North Texas ULI Northern New Jersey ULI Northwest ULI Oklahoma ULI Orange County/ Inland Empire ULI Philadelphia ULI Pittsburgh ULI Richmond ULI Sacramento ULI San Diego/Tijuana ULI San Francisco ULI SE Florida/Caribbean ULI South Carolina
ULI St. Louis ULI SW Florida ULI Tampa Bay ULI Toronto ULI Triangle ULI Utah ULI Washington, D.C. ULI Westchester/Fairfield
COUNCILS
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National Councils
N
ational Councils are country networks that operate in a similar fashion to District Councils and advance ULI’s mission around the world. There are now 21 National Councils across the globe, including 14 in Europe and seven in the Asia Pacific region.
contributions in the fields of real estate economics and public administration, as well as among Young Leaders. In ULI Germany’s other major event of the year, industry experts met in Frankfurt for the Urban Leader Summit in June 2013, which focused on real estate finance and investment.
Last year saw continued growth in ULI’s National Councils. ULI Europe launched its 14th National Council with the official recognition of ULI Ireland at an event at the Bank of Ireland, House of Lords.
In Moscow, ULI Russia continued its collaboration with the city government on the Moscow Urban Forum. The forum has quickly established itself as an important international event on city planning and urban development, essential for anyone interested in developing or investing in the city. Having presented the findings of the ULI Advisory Services panel on Moscow at the inaugural forum in 2011, ULI continues to act as the event’s main international partner and is forging a strong working partnership with the city.
More established councils such as ULI Germany continued with an active calendar of events. The Urban Leader Forum and Leadership Awards took place in Hannover and attracted 160 leaders to address issues such as the impact of the European monetary union on real estate, emerging sustainability frameworks, and smart cities. The Urban Leadership Awards recognized exceptional
Sigrid Duhamel, group corporate real estate director, Peugeot S.A., and chair of ULI France.
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In Asia, a number of ULI’s National Councils were actively involved in assessing the future requirements of specific cities in the region, resulting in a number of Ten Principles reports.
January 2013. It is hoped that the findings will positively affect future development in Singapore as well as act as a guide to rapidly urbanizing cities across the region. One such rapidly urbanizing city is Manila, where ULI members participated in interviews, workshops, and focus-group discussions with a wide variety of stakeholders to establish sustainable development options for the city. A report released in April 2013, Ten Principles for Sustainable Development of Metro Manila’s New Urban Core, offers development recommendations for how the city can be not only attractive to businesses and visitors, but also provide a high-quality living environment for residents. In November 2013, ULI held its inaugural Mainland China Annual Meeting in Shanghai. The half-day event, the first gathering of significant size to
“ There is no more respected global urban and real estate thought leader than the Urban Land Institute.” —Peter Verwer, Property Council of Australia (PCA) chief executive, on agreeing on a strategic alliance with ULI.
be organized and funded solely by ULI’s members in mainland China, was attended by more than 120 participants. The meeting included lively presentations on the use of technological and design innovations in Chinese real estate, as well as the presentation of the Emerging Trends in Real Estate Asia Pacific 2013 report. In December 2012, ULI Japan held its 15th annual conference in Tokyo, which included a range of presentations on the prospects for Japanese real estate. The closing keynote address by Junichiro
ULI’s Singapore members participated in two joint workshops with the Centre for Liveable Cities to examine how innovative planning, design, and development practices that emphasize a people-first focus can help ensure that rapid urbanization does not compromise livability and sustainability. The findings of the workshops, which drew upon Singapore’s successful urbanization experiences, were published as 10 Principles for Liveable High-Density Cities: Lessons from Singapore in
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COUNCILS Participants in the ULI U.K. Housing Study Tour view a model of a multifamily housing development.
Koizumi, the former prime minister of Japan, looked at the path the country should take next. ULI’s expansion into Australia was advanced with the signing of a strategic alliance with the Property Council of Australia (PCA), which took place in front of 500 people at Sydney Town Hall in October 2012. The alliance aims to boost Australia’s access to international thinking on urban and real estate issues through ULI’s international knowledge and networks.
ULI U.K. Housing Study Tour With more than 650 members, ULI United Kingdom is one of the largest National Councils. In 2011, ULI U.K. established a number of Product Councils, including the U.K. Residential Council to examine solutions to the country’s housing supply and affordability crisis. Chaired by Nick Jopling, executive director at Grainger plc, the council specifically focused on the lessons to be learned from the established multifamily market in the United States. The two countries have similar levels of homeownership, but whereas the U.S. rental market has professionally managed portfolios backed by institutional investment, the U.K. market is dominated by small-scale private landlords. In late 2012, the U.K. government established a national task force focused on supporting the development of a larger-scale “private rented
sector” (PRS) for the U.K. residential market. ULI U.K. decided to hold a study tour to explore the established U.S. multifamily housing industry as a possible template for how institutionally backed private rental housing could be delivered in the United Kingdom. The inaugural four-day tour visited Washington, D.C., and Boston in April 2013. Participants explored U.S. private and public rental housing, visiting a range of affordable, market-rate, and luxury rental developments, as well as met privately with federal and city officials, leading developers, owner/ operators, architects, and investors. As a result of the tours, a group of ULI U.K. Residential Council members has been working to develop Build-to-Rent—A ULI UK Best Practice Guide for the design, development, and management of build-to-rent homes in the United Kingdom.
“These study tours exemplify what I think is most valuable about ULI—it’s ability to be a ‘university without walls’ for its members. We were commissioned by the government’s PRS task force to develop a ULI best practice guide for build-to-rent in the U.K. This opportunity would not have come about without the impact generated by these tours and will allow us to share our learning with the entire residential sector.” —Nick Jopling, chair of the ULI U.K. Residential Council
COUNCILS
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U R P T
District Councils
W g C r t o
ULI Los Angeles Helps Shape Great Streets Initiative In 2012, ULI Los Angeles convened three TAP panels in response to a request for advice from the city of Los Angeles on how to catalyze development along several new transit corridors. The members examined potential opportunities along the transit lines and reviewed possible incentives that could accelerate investment, then published their findings in the ULI LA 2013 Transit Corridors Report. Los Angeles Mayor Eric Garcetti, as his first executive order, announced the establishment of the Los Angeles Great Streets initiative, which builds on five of the core recommendations made by ULI. The project has helped expand the city’s planning agenda from individual transit stations to a transformation of corridors to achieve a truly transit-oriented Los Angeles.
T s r o b B t T t l
Above: A ULI Los Angeles TAP panel site tour. Right: Eric Garcetti, mayor of Los Angeles, who announced the establishment of the Great Streets initiative following the work undertaken by ULI Los Angeles.
“ Our Great Streets initiative will build off of the work that [ULI has] accomplished and build off the recommendations of the Transit Corridors Report. I firmly believe that with this initiative we are taking another big step towards a fundamental change in how we perceive, interact, and build the environment around us.” —Eric Garcetti, mayor of Los Angeles
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COUNCILS
ULI Boston Report Prompts Passage of Historic Transportation Bill With the help of a ULI Foundation grant, ULI Boston’s Infrastructure Council issued the Hub and Spoke report in 2012, which underscored the dire need to increase capacity on the regional transit system. The report’s findings launched a series of public discussions that resulted in the governor’s signing of a 2013 transportation bill boosting funding for transit. ULI Boston has since been asked by the Massachusetts Department of Transportation for advice on how to increase development on its land parcels.
“ The ULI report articulated problems the MBTA [Massachusetts Bay Transportation Authority] has focused on internally. If we want to grow the economy in the Greater Boston area, we’re going to need to have the corresponding transit capacity necessary to get people to where they’re going and where they work.” —Jonathan R. Davis, general manager, MBTA
ULI Chicago Recommendation Leads to Land Bank Ordinance As part of a 2012 TAP panel, ULI Chicago recommended that Cook County establish a land bank as a tool for managing the increasing number of abandoned properties in its region. Three months after the TAP was completed, the Cook County Board of Commissioners unanimously approved an ordinance to create the Cook County Land Bank Authority, one of the largest land banks in the country. Cook County used the TAP process to validate the land bank concept and to outline the governance, financing, and organization of how the Land Bank Authority would function.
Left: Herman Brewer, bureau chief, Bureau of Economic Development, Cook County, Illinois. Below: Cook County Land Bank TAP report. A TECHNICAL ASSISTANCE PANEL REPORT
Cook County Land Bank TAP Chicago, IL
October 23-24, 2012
“ The ULI Chicago panel was incredibly important to us to establish the land bank. The land bank is a concept that most people are not familiar with. It’s new to Illinois and it’s new to this region, so having the Urban Land Institute was really important both as subject-matter experts and as a third-party validator. They brought a lot of deep expertise and they validated to a larger market that the land bank is something worth looking at.” —Bridget Gainer, Cook County commissioner, 10th District
COUNCILS
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District Councils ULI Arizona Catalyzes Construction of Housing for Adults with Autism A decade-long program of activities by ULI Arizona will result in the construction of a cuttingedge housing development for adults with autism. The project began in 2004, when ULI Arizona conducted a TAP panel for the Southwest Autism Research & Resource Center (SARRC). That panel was followed by a series of workshops and symposiums that used ULI Arizona’s network to provide multidisciplinary expertise on best practices for residential housing for autistic adults unable to live on their own. In 2009, ULI Arizona, SARRC, and Arizona State University collaborated on the Opening Doors study. The study identified replicable residential products that offer high-quality affordable housing options within the fabric of their communities and close to jobs, as well as health and recreational opportunities for adults with autism. The result of this body of work will be the construction of a housing development for adults with autism on the SARRC campus, incorporating the recommendations made by ULI. Work on the development will begin in 2014.
“ Building new residential options for adults with autism and related disorders that are inclusive, community based, and maximize independence is both a bold venture and logical next step for SARRC and First Place AZ. Thanks to ULI, its collection of AzTAP panels, consultations that date back more than a decade, and funding for the seminal Opening Doors report, plans are underway to break ground in 2014.”
ULI Arizona’s work catalyzed construction of housing for adults with autism.
—Denise D. Resnik, founder of First Place AZ, cofounder of SARRC, and editor of the ULI/SARRC/ASU Opening Doors residential study
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COUNCILS
Urban Innovation Grants The following 15 projects were awarded Urban Innovation Grants in the 2013 financial year, made possible by the generous support of the ULI Foundation Annual Fund.
ULI Arizona Reinvent Phoenix Anchor Institution Convening ULI Arizona’s ongoing involvement with the Reinvent Phoenix program united small groups of decision makers focused on community revitalization and investment. The ULI grant funded facilitated forums that enabled the city of Phoenix to gain an understanding of its unique challenges and identify opportunities to create a more healthy and economically strong city.
ULI Baltimore Improved Methods to Achieve Infill and Urban Developments ULI Baltimore facilitated discussions that identified best practices in infill and urban development planning pertaining to comprehensive rezoning and private development entitlement.
ULI Houston ULI Making the Case for Urban Green Space ULI Houston, in collaboration with Texas A&M University, undertook a Technical Assistance Program panel report for the Houston Bayou Greenway Initiative, a long-term project focused on bayou greenway and parks improvements to enhance flood control. ULI Houston has since been asked by the mayor’s office to present the proposed recommendations.
ULI Idaho
ULI Nashville
Treasure Valley Real Estate Partnership
Retrofitting Homes and Rebuilding Healthy Communities
By convening 14 real estate organizations, ULI Idaho spurred industry action toward common goals, including incentivizing downtown and infill development. ULI Idaho acted as the organizing body for developing a vision, hosting roundtable discussions, providing research, and building consensus on issues and solutions.
ULI Nashville initiated the Go Green program over three years ago as a collaborative residential retrofit program for energy efficiency. ULI Nashville covered the cost of energy efficiency improvements on two homes in Chestnut Hill, a very-low-income Nashville neighborhood.
ULI Los Angeles
ULI Northwest
Partnership for Transportation Corridors
Generating a Thriving Economy for Portland
In partnership with the city, ULI Los Angeles convened three Technical Assistance Program panels to assess how development could be catalyzed along several new transit corridors. As a result, Los Angeles Mayor Eric Garcetti announced the establishment of the Los Angeles Great Streets initiative, which builds on ULI’s recommendations.
ULI Northwest is convening the business, real estate, and economic development communities of Portland to create a roadmap for investment to transform emerging businesses into midmarket companies supporting the long-term economic health of the central business district and burgeoning neighborhood commercial centers.
ULI Louisiana Imagine Downtown Lafayette Competition
ULI Orange County/ Inland Empire
ULI Louisiana and Creative Action Acadiana, in partnership with the Lafayette Consolidated Government, launched an open design competition to shape dialogue surrounding future creative and economic growth in six downtown Lafayette sites. The city has taken steps to integrate the winners’ urban concepts into future planning.
MyPlace OC
ULI Minnesota Greater MSP Ahead ULI Minnesota facilitated a metrowide convening that reached consensus on seven regional priorities to keep the region globally competitive. As a result, three jurisdictions have revised their strategic plans to incorporate these priorities, and a multi-sector task force has been formed to follow up on the recommendations.
ULI Orange County raised awareness about the challenge of retaining 18-to-35-year-olds in the region, a demographic being driven out by the limited access to “creative professional” jobs. Business/trade organizations, city councils, and planning officials are now addressing this issue due to ULI’s campaign of interviews, conferences, video, and the website myplaceoc.com
ULI Philadelphia Global Positioning Strategy for World-Class Infrastructure in Greater Philadelphia As part of the World Class Greater Philadelphia initiative, ULI Philadelphia and the Economy League of Greater Philadelphia convened business executives,
civic leaders, and issue experts to help create a global positioning strategy for infrastructure.
ULI Richmond Reality Check ULI Richmond hosted a Reality Check program in May 2013 focusing on engaging diverse regional leaders to build consensus on providing housing and jobs across the region. The grant assisted ULI Richmond with outreach to public officials, community groups, and citizens.
ULI Sacramento Transforming Downtown Plaza: A Vision for Downtown Sacramento A ULI Sacramento Technical Advisory Program panel, consisting of representatives from the public and private sectors, recommended a new vision for Sacramento’s Downtown Plaza, once the center of retail, services, and entertainment.
ULI San Diego/Tijuana Global Forum on the Culture of Innovation In partnership with the Aspen Institute, the Global Forum on the Culture of Innovation encouraged discussion among industry sector leaders to consider San Diego’s niche in the worldwide marketplace and how to capitalize on the city’s strengths to attract talented people.
ULI SE Florida/ Caribbean Location and Economic Support for Rail Transit in Southeast Florida Southeast Florida is planning to expand commuter transit in the corridors connecting Miami and northern Palm Beach County. ULI Southeast Florida partnered with the South Florida Transit Authority to examine station locations and financing mechanisms. COUNCILS
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ULI Product Councils
U
LI’s Product Councils are forums for industry leaders to meet, exchange ideas, share best practices, and foster thought leadership in their respective sectors of the real estate market. Over the past year, the Institute’s 2,750 council members worldwide played a critical role in building communities; developing and redeveloping neighborhoods; envisioning and re-creating business districts; planning and implementing industrial parks; bringing residential, retirement, and recreational spaces to life; and designing mixed-use facilities that are a part of the nation’s sustainable urban and suburban environments. Two additional councils were launched—the Redevelopment and Reuse Council and the University Development Council— bringing the total number of Product Councils in the United States to 50. The Redevelopment and Reuse Council will focus on the retrofitting and adaptive use of existing buildings, as well as the redevelopment of brownfield and greyfield sites. This has been a key issue examined by ULI for many years; however, the launch of a specific Product Council reflects the ever-greater levels of expertise required to undertake these projects and the scale of the new development opportunities being created.
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The University Development Council was created to look at land use and real estate practices associated with the economic activities and innovation at universities and their surrounding neighborhoods. The council will look to capitalize on the significant existing knowledge and ongoing business activities of ULI members to leverage multiple resources, attract and strategically combine public and private capital and partnerships, and revitalize neighborhoods, cities, and regions in a globally competitive context. The ULI Foundation awarded two grants for councils to undertake research that was critical to their real estate sector and that would advance the Institute’s mission. The Entertainment Development Council and the Commercial and Retail Development Council each received a grant from the ULI Foundation to research the 70 million–strong generation of U.S. baby boomers and their interaction with their grandchildren. Based on the data elicited from surveys and research, a white paper will make recommendations on new real estate products to serve this market. A ULI Foundation grant was also made available for research into community development and seniors’ housing. The research, led by ULI’s Terwilliger Center with the involvement of more than 300 council members, will examine how the built environment needs to evolve to reflect the changing requirements of aging generations and how communities can develop organically to encompass multiple generations.
The Institute’s five pan-European Product Councils, known as European Councils, had another active year with membership continuing to grow to more than 140 members. Two Council Days were held before the ULI Europe Annual Conference in Paris in February and the Real Estate Trends Conference in London in June. Key highlights of the Council Days included Sir Edward Lister, deputy mayor of London, speaking to the Sustainable Development Council, and the Retail and Entertainment Council’s visit to La Vallée retail outlet center in Paris, which included a presentation on the latest mobile payment systems. Plans to bring Product Councils to the Asia Pacific region took a big step forward with the inaugural meeting of the Hospitality Development Council ahead of the ULI Asia Pacific Summit in Shanghai.
“ Only at ULI do you really get a peerto-peer value-add experience, sharing information with other members who are as passionate about their vocation as you are and taking back new ways to improve your own business.”
Product Council meetings bring together small groups of industry leaders to exchange ideas and share best practices.
—William Aaron Conley, president, Third Act Solutions
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COUNCILS
COUNCILS
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Spring and Fall Meetings Fall Meeting in Denver The Fall Meeting, held in Denver in October 2012, marked the end of ULI’s 75th-anniversary celebrations. With the theme “What’s Next?” the event examined the short- and long-term challenges and opportunities facing the real estate and land use sectors. Among the highlights was former U.S. Senator Alan Simpson (R-WY), cochair of the National Commission on Fiscal Responsibility, discussing ways to reduce the federal deficit. Continuing the political theme, the conference included a debate between Robert Gibbs, Democratic presidential campaign senior adviser, and Republican Party strategist Karl Rove only three weeks before the 2012 presidential election. As the U.S. real estate sector continued its recovery, John L. Bucksbaum, former chair of retail developer General Growth Properties (GGP), shared his experiences and the lessons he learned during the recession, during which his firm filed for bankruptcy. The rest of the program examined such topics as transit infrastructure, public/private partnership models for development, use of hydraulic fracturing (fracking) in oil and gas production, and the impact of generation Y on the future of real estate.
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Top: ULI Trustee Thomas W. Toomey, president and chief executive officer of UDR Inc., gives welcoming remarks as cochair of the 2012 ULI Fall Meeting in Denver. Above left: Robin Chase, founder and chief executive officer of Buzzcar and cofounder of Zipcar, was among the thought leaders who shared provocative insights into how to think differently about doing business. Above right, left to right: Denver Mayor Michael B. Hancock and Alan Simpson, former U.S. senator and cochair of the National Commission on Fiscal Responsibility and Reform.
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GLOBAL CONVENINGS
“ ULI has always been the place where I can get the most relevant content that allows me to make my business more successful.” —Stephen P. Navarro, president, the Furman Company Chair, ULI Program Committee
Spring Meeting in San Diego The Spring Meeting, held in San Diego in May 2013, attracted record-breaking attendance of nearly 3,700 people. Key sessions included a presentation by Geoff Colvin, a longtime editor and columnist for Fortune magazine and author of bestseller Talent Is Overrated, who outlined potential growth strategies for businesses operating in uncertain times.
Top: Former U.S. Senator Kay Bailey Hutchison. Above: The Women’s Leadership Initiative reception at the Spring Meeting in San Diego.
“ ULI attracts the foremost players and thinkers in the business. The smartest people are in the room—every room! ULI’s Fall Meeting is the connective tissue of commercial real estate.”
Also, as a precursor for ULI’s current Building Healthy Places Initiative, the program included a number of sessions on the impact of the built environment on public health. Richard J. Jackson, a leading public health expert, spoke about incorporating wellness into planning; other sessions examined how changing health care delivery will affect land use. In the closing session, former U.S. Senator Kay Bailey Hutchison (R-TX) drew on her two decades of experience in the Senate to
provide insights into a range of topics, including leadership, political gridlock in Washington, and the prospects for energy independence. Away from the conference program itself, the highlight of the event for many was a reception on the USS Midway aircraft carrier— undoubtedly one of ULI’s more unusual networking venues. The event also saw a raft of new ULI research reports launched. America in 2013, jointly produced by the Terwilliger Center and ULI’s Infrastructure Initiative, examined the housing and transportation preferences of several generations—generation Y, generation X, baby boomers, and war babies/the silent generation. Also looking at generational preferences was Generation Y: Shopping and Entertainment in the Digital Age, which examined the shopping tendencies of 18- to 35-year-olds.
—Christopher R. Ludeman, president, Brokerage & Capital Markets, the Americas, CBRE
GLOBAL CONVENINGS
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Europe and Asia Pacific Conferences ULI Europe Annual Conference The 17th ULI Europe Annual Conference in Paris, which took place in February 2013, attracted more than 500 industry leaders from 24 different countries—the highest attendance at the event since the economic downturn hit in 2008. The resurgence in attendance reflected the mood of the conference, which was one of cautious optimism as confidence began to return to the European real estate sector. The annual Leadership Dinner opened with a speech by Christian Sautter, deputy mayor of Paris, on the city’s continuing growth and development. The keynote address by Fred Swaniker, chief executive of the African Leadership Academy, on the real estate prospects in Africa provided many attendees with a new perspective on the continent. The conference itself tackled a broad range of issues from macroeconomics, real estate finance, and residential investment to recycling of old buildings, occupier outlooks, and city leaders’ perspective on development. A lively debate on the global economy—among Andrea Boltho of the University of Oxford, Jean Michel-Six of Standard & Poor’s, and Arthur Segal of the Harvard
Business School—was one of the most popular sessions, reinforcing acknowledgment of the impact of globalization on capital availability, economic growth, and prospects for national economies. Among the newsmakers at the conference were Thomas Garbutt, head of global real estate for TIAA-CREF, who announced the U.S. company’s plans to enter the European debt market, and Olivier Piani, chief executive of Allianz Real Estate, who discussed the likelihood of the company expanding its lending operations in Europe.
“ ULI Europe’s Annual Conference has become an essential part of my real estate year. I like this interdisciplinary gathering that provides really high-quality content .”
Top: Members discuss current real estate market conditions during the Members Summit at the ULI Europe Annual Conference. Above: The Leadership Dinner at the ULI Europe Annual Conference.
—Roger Orf, Apollo Global Real Estate
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GLOBAL CONVENINGS
ULI Asia Pacific Summit The second ULI Asia Pacific Summit, which took place in June 2013 in Shanghai, was attended by about 400 real estate professionals from across the region. The summit’s keynote opening address was delivered by C.Y. Leung, chief executive and president of the Executive Council of the Hong Kong Special Administrative Region and a founding chairman of ULI Asia Pacific. The summit program tackled a broad range of issues, including generation Y’s impact on real estate, building healthy communities in Asia, niche investment strategies, and revitalizing Asia’s waterfronts. Two sessions particularly captured the audience’s imagination. One—a fascinating discussion among Vincent Lo, chairman of Shui On Group; Thai-Ker Liu, founding chairman of the Centre for Liveable Cities; and Larry Silverstein, president and CEO of Silverstein Properties—looked at the impact of complexity on
projects in New York, Singapore, and Shanghai. The other, a wideranging conversation between Wang Shi, chairman and founder of China Vanke, and Rob Speyer, president and co-CEO of Tishman Speyer, covered such topics as housing and sustainability, as well as their first partnership on a development in San Francisco. Mainland China Real Estate Markets 2013: ULI Analysis of City Investment Prospects was also launched at the summit. This, the third edition of the surveybased report, evaluates real estate investment and development prospects across 36 of the largest cities in China.
“ Through the summit, we discussed, dissected, and developed a number of important insights, which will contribute to our goal of supporting thriving and sustainable communities.” —Raymond Chow, executive director, Hongkong Land Ltd.
Also at the summit, a new partnership between ULI and the C40 Cities Climate Leadership Group was announced. The global partnership, which will see the organizations working together to encourage energy conservation and reduction of carbon emissions from existing buildings, was announced by Yan Peng, C40’s East Asia regional director, and ULI CEO Patrick Phillips.
Above: Wang Shi, chairman and founder of China Vanke, addresses the ULI Asia Pacific Summit in Shanghai. Left: Thai-Ker Liu, founding chairman of the Centre for Liveable Cities, and Larry Silverstein, president and CEO of Silverstein Properties, at the ULI Asia Pacific Summit.
GLOBAL CONVENINGS
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Rose Center for Public Leadership
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he Rose Center for Public Leadership was established in 2008 with a $5 million grant from Daniel Rose, chairman of New York City–based developer Rose Associates. The Rose Center acts as ULI’s nexus between the public and private sectors, aiming to provide public officials with access to information, best practices, peer networks, and other resources to foster creative, practical, and sustainable land use policies. Throughout the past year, the Rose Center has progressed in its mission through a range of activities, including program streams at ULI’s Spring and Fall meetings, study tours, forums, webinars, and the Daniel Rose Fellowship. Launched in 2009, the Daniel Rose Fellowship is a program that assists four large U.S. cities each year. It is designed to provide key public officials with leadership training and professional development opportunities, as well as provide the city with technical assistance on a specific local land use challenge. The mayor of each selected city nominates three participants responsible for making land use decisions at a city department or public agency to act as fellows. The mayors also identify a local land use challenge for which they receive technical
assistance from a team of experts assembled by ULI. For 2012–2013, the cities selected for the fellowship program were Austin, Texas; Hartford, Connecticut; Louisville, Kentucky; and Tacoma, Washington. The cities and their fellows received a year of intensive support from both the Rose Center and each other, including study visits to each of the four cities; a study tour to San Juan, Puerto Rico, in December 2012; and a working retreat in Philadelphia in April 2013. The San Juan tour saw the Rose Center fellows, including Hartford Mayor Pedro Segarra and Louisville Mayor Greg Fischer, travel across the city by foot, train, bus, and boat to study examples of challenging historic preservation projects, transit-oriented development, cultural tourism, and economic development, as well as the effect of divisive local politics on planning and development. The fellows also met with former government leaders, including former governor and former San Juan mayor Sila Mariá Calderón Serra, private sector leaders including Chamber of Commerce president Pablo Figueroa, and members of Puerto Rico’s association of architects. In addition, the Rose Center organized a number of forums
throughout the year. The Rose Center Mayors’ Forum, held during the Fall Meeting in Denver in October 2012, attracted more than 150 people to discuss the role of public/private partnerships (PPPs) in city building. The forum included two cross-sector panel discussions focused on how PPPs represent the nexus between the public sector’s needs and the private sector’s goals. The Charles H. Shaw Forum on Urban Community Issues, held in Chicago in June 2013, gathered 25 urban development experts to examine the correlation between school performance and the prosperity of urban neighborhoods. Participants examined creative ways in which school districts, private developers, charter schools, cities, and other institutions have addressed this issue and achieved various levels of success. The Rose Center also continued its program of webinars for ULI’s public official members. Five webinars were held during the year on topics ranging from preserving and repurposing industrial land for economic development to developing integrative public health and transportation plans. The webinars attracted more than 300 individual participants; 30 attended multiple sessions.
Top right: Rose Center Advisory Board member Antonio Fiol-Silva leads a 2012–2013 Rose Fellowship retreat tour of the Paseo Verde construction site in Philadelphia in April 2013. Right: Joe Rose, chair of the Rose Center Advisory Board. Far right: From left to right, Mayor Marilyn Strickland, Tacoma, Washington; Mayor R.T. Rybak, Minneapolis, Minnesota; Julia Stasch, vice president of U.S. programs, John D. and Catherine T. MacArthur Foundation; Mayor Greg Fischer, Louisville, Kentucky; and Mayor Pedro Segarra, Hartford, Connecticut.
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SHAPING CITIES AND REGIONS
Austin, Texas, was one of four U.S. cities chosen for the Daniel Rose Fellowship program in 2012– 2013. The others include Hartford, Connecticut; Louisville, Kentucky; and Tacoma, Washington.
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Terwilliger Center for Housing
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stablished in 2007 with a generous donation from former ULI Chairman J. Ronald Terwilliger, the Terwilliger Center for Housing aims to facilitate the creation of a full spectrum of housing opportunities, including affordable and workforce housing, in communities across the United States. The Terwilliger Center shapes current thinking on U.S. housing policy and practice through the publication of research reports, the hosting of events and webinars, and presentation of a busy schedule of speaker engagements and two awards programs. The Center released a number of influential reports last year, including Housing in America: The Baby Boomers Turn 65. Launched at the Fall Meeting, the report examines the housing market changes that will occur as the baby boomers turn 65, and as the silent generation (age 67 to 85) and the Greatest Generation (age 85 and older) make housing choices for their later years. Another research project focusing on demographic trends was America in 2013, which was launched at the Spring Meeting in San Diego and examined the views of more than 1,200 people on housing, transportation, and community. The survey, produced in partnership with ULI’s Infrastructure Initiative, examined the role growing demographic groups such as generation Y will play in reshaping urban growth
patterns by spurring more development of compact, mixeduse communities with diverse housing choices and reliable, convenient transit service. The Terwilliger Center continued to acknowledge exemplary achievements in housing practices through its two annual awards programs—the Jack Kemp Workforce Housing Models of Excellence Awards and the Robert C. Larson Workforce Housing Public Policy Awards. The Kemp Award winners were the Century Building in Pittsburgh, Via Verde in New York City, and Rhode Island Row in Washington, D.C. Receiving the
Larson Awards were the New York City Department of Housing Preservation and Development’s New Housing Marketplace Plan and the New Jersey Housing and Mortgage Finance Agency’s CHOICES in Homeownership Program. In addition to programs at the Fall and Spring meetings, the Terwilliger Center also presented a range of speaker engagements across the United States, held a series of member-only webinars, and hosted the Housing Opportunity 2013 conference in Seattle during March.
“ I’ve tried to demonstrate my belief that hope begins with access to a decent, affordable home. I want to help ensure a leveraged, sustained impact beyond my lifetime and inspire others to make the commitment to support affordable housing.” —Ron Terwilliger, chair, ULI Terwilliger Center for Housing
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Housing in Massachusetts Below: America in 2013 examined the views of more than 1,200 people on housing. Bottom: Lisa Alberghini, president of the Planning Office of Urban Affairs in Boston, speaking at the Housing Opportunity 2013 Conference in Seattle.
Massachusetts faces a serious housing shortage for middleincome individuals and families that is becoming a hurdle to attracting and retaining the best workers. The challenges faced by the state were exemplified in two key reports published by the Terwilliger Center in 2010. Priced Out: Persistence of the Workforce Housing Gap in the Boston Metro Area and The Boston Regional Challenge highlighted the metro Boston area’s housing shortage and the compound burden of housing and transportation costs on working families. In many ways, the foundation of an economically healthy state is the home—an idea that was crystallized for state housing officials by their work with the Terwilliger Center for Housing. “While we had thought about it that way before, many of the ideas were incubated
in the reports we read and people we worked with from the Terwilliger Center and its events,” says Arthur Jemison, deputy undersecretary of the Massachusetts Department of Housing and Community Development. In July 2012, Terwilliger Center Executive Director Lynn Ross joined a team of experts for an intensive two-day workshop with Governor Deval Patrick’s administration to identify policies and tools to meet the state’s housing needs. Based on the panel’s recommendations, Patrick announced just months later that he was adopting an annual statewide goal of producing 10,000 multifamily units—a first-of-its-kind commitment. Massachusetts is aggressively retooling some of its housing policies, and officials are trying to spur development in areas around Boston already connected to public transit. “We have been working on that problem,” Jemison says. “One of the ways we’re doing it is directing growth in a way that’s smarter.” Ensuring plenty of workforce housing options that are attractive to young professionals is at the heart of the state’s economic development strategy, according to Jemison. “We can’t be competitive without a highly educated workforce, but that workforce will not stay here if it’s too expensive and if they can get the same quality of life elsewhere,” he says. “We need to not only be aggressive in attracting businesses that are going to grow our economy, but we need to be able to create the housing that workforce would choose.”
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The Thames Barrier, London’s flood defense system.
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BUILDING SUSTAINABLY
Greenprint Center and CLUE
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LI is increasingly focused on the nexus of land use, energy, climate change, and real estate. The Institute drives its research and impact in the sustainability arena through two programs—the Greenprint Center for Building Performance, and the Climate, Land Use, and Energy (CLUE) Initiative.
Greenprint Center Established in 2009, Greenprint is a worldwide alliance of leading real estate owners, investors, and financial institutions committed to improving the environmental performance of the real estate industry, with a focus on energy consumption, carbon emissions, water usage, and waste diversion. The center has grown to include 31 members and affiliated partners worldwide, including some of the top names in global real estate, holding properties in 43 countries. Greenprint’s objective is to reduce overall building emissions across its members’ property portfolios by 50 percent before 2030, driving change through performance benchmarks, and providing education. The center measures member performance against a 2009 baseline and produces the annual Greenprint Performance Report™ to demonstrate progress. Volume 4 of the Greenprint Performance Report™, released last year, included the performance of 3,232 buildings owned by members during 2012–2013. Performance results showed a 3.2 percent year-on-year reduction in energy consumption and a 3.4 percent decline in carbon dioxide emissions. The reduction in CO2 emissions equates to
nearly 268,400 barrels of oil not consumed, 24,044 cars taken off the road, or more than 2.9 million trees planted over the previous 12 months. Greenprint’s steadily growing membership means that this year’s report included 20 percent more properties than the previous year’s, resulting in a 15 percent increase in floor area covered by the survey. The report has now grown to include more than 75 million square meters (807 million square feet) of office, residential/ multifamily housing, industrial, and retail space. This represents more than �450 billion (US$595 billion) of real estate assets covering a wide variety of building ages and sizes.
CLUE The CLUE Initiative is a broad, interdisciplinary dialogue that explores how issues related to climate change and energy use are affecting real estate practices and reshaping urban environments. The initiative combines member forums with the publication of reports to provide knowledge and encourage debate on the significant challenges the world faces. One highlight of the CLUE Initiative this year was the “Resilience and Risk in Coastal Regions” forum, held in conjunction with ULI’s midwinter meeting in Washington, D.C., in January 2013. The twoday event gathered representatives from federal and local government, real estate investors, property owners, and leading members of the insurance and reinsurance industries to examine how climate change will affect future coastal development.
The forum focused on the ways in which extreme weather events such as hurricanes, tornadoes, floods, and storm surges, as well as significantly higher sea levels, will affect decisions on what is built and rebuilt, where and how it is built, and how it is insured and financed. In February 2013, ULI’s CLUE initiative partnered with the Asia Society to organize the Pacific Cities Sustainability Initiative (PCSI) annual forum in Hong Kong. Titled “Tomorrow’s City Today,” the event examined the economic, environmental, and social impacts of urbanization in Asia and North America through a series of expert-level workshops. In March 2013, CLUE held a forum in Houston titled “Technology and Real Estate: The New Calculus,” which explored how a host of new technologies and technology companies can create value and place products in the commercial real estate marketplace through new value propositions and business models. Through the CLUE Initiative, ULI also established a partnership with the C40 Cities Climate Leadership Group, a network of large and engaged cities from around the world committed to implementing meaningful and sustainable climate-related actions locally that will help address climate change globally.
Yan Peng, C40 East Asia regional director, and ULI CEO Patrick Phillips at the announcement of the partnership between ULI and C40 in Shanghai.
Over the past two years, Greenprint members have cut CO2 emissions by the equivalent of over 1,325,000 barrels of oil.
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Greenprint Performance Report™ Volume 4, 2012
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ULI Infrastructure Initiative
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he ULI Infrastructure Initiative aims to promote more environmentally and economically sustainable infrastructure investment choices and to foster an improved understanding of the links between infrastructure and land use. Through publications, forums, and other activities, the initiative uses ULI’s extensive public and private networks to exercise leadership on infrastructure. In partnership with Ernst & Young, ULI publishes an annual review of global infrastructure trends that has established itself as a leading report in the sector. The seventh edition, Infrastructure 2013: Global Priorities, Global Insights, was launched at the Spring Meeting in San Diego, followed shortly in June 2013 by additional outreach at the ULI Asia Pacific Summit in Shanghai and presentations at the ULI Real Estate Trends Conference in London. A panel discussion in New York City combined with additional district council events across the United States meant that about 2,700 ULI members worldwide were directly engaged with the report. ULI’s infrastructure efforts do not just focus on global trends, but also tackle issues at a more local level. With support from the Rockefeller Foundation, ULI in December 2012 published Shifting Suburbs: Reinventing
Infrastructure for Compact Development. The report examined how eight suburban redevelopment projects tackled infrastructure challenges, from planning through to funding and financing, examining both winning strategies and hurdles to development that had to be overcome. The lessons from the report formed the basis for a program of ULI district council events that engaged more than 1,200 members across the United States. Also with support from the Rockefeller Foundation, ULI produced When the Road Price Is Right: Land Use, Tolls, and Congestion Pricing, a report on the potential impact on land use practices of the movement toward tolling and road pricing across the United States. The report, which drew on two workshops that convened experts on the topic in Washington, D.C., and San Francisco, during summer 2012, included five highways as practical case studies. The report concluded that new approaches to funding could support development in compact, mixeduse nodes if land use and transit are carefully coordinated with these investments. Rockefeller Foundation funding also supported ULI’s work on U.S. federal transportation policy, in which the organization engaged
and educated members on the topic, and identified opportunities for the federal transportation program to better support the market shift toward more compact, transit-oriented, and mixed-use communities. The Infrastructure Initiative partners with other centers within ULI to advance understanding of the intersection between infrastructure and other elements of the built environment. “America in 2013: A ULI Survey of Views on Housing, Transportation, and Community,” which was undertaken jointly with the Terwilliger Center for Housing, examined what Americans want and expect from the places where they live. The research, which included a nationally representative survey of more than 1,200 adults, established that demand for mixed-use, compact development is strong and that the appeal of compact development crosses generations. The findings of this report were published and presented at ULI’s Spring Meeting in San Diego, received solid media attention from news outlets including the Wall Street Journal and other publications, and were widely shared via speaking engagements with ULI networks and external partners and organizations.
Waterloo Station in London.
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Delivering a clean water supply remains a key infrastructure challenge in many countries.
Infrastructure2013 Global Priorities, Global Insights
Infrastructure 2013: Global Priorities, Global Insights is the seventh in a series of global annual reports assessing the state of infrastructure globally and connecting strong infrastructure investment decisions to national and metropolitan prosperity.
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Up-to-date information on the latest infrastructure investment trends, challenges, and innovations; Coverage of the Asia Pacific region, Europe/Middle East/ Africa, and the Americas; Informative charts and graphs; Highlights of transformative infrastructure investments from around the world; and Quotes and other insights from the infrastructure field’s leading experts and thinkers.
Produced by the Urban Land Institute and Ernst & Young, Infrastructure 2013 pinpoints the trends, policies, and issues shaping infrastructure in 2013 and beyond. Based on interviews with infrastructure experts, up-to-date research and analysis, and other sources, the report is full of essential information and insights for any infrastructure or land use professional.
I n f r a s t r u c t u r e 2 0 13 : G l o b a l P r I o r I t I e s , G l o b a l I n s I G h t s
Infrastructure 2013 includes: ■■
URBAN LAND INSTITUTE 1025 Thomas Jefferson Street, NW Suite 500 West Washington, DC 20007-5201 I S B N 978-0-87420-264-9
9
50995
ISBN: 978-0-87420-264-9
780874 202649
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SHAPING CITIES AND REGIONS
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Above, left to right: Kok Huat Goh, president of GIC Real Estate; Olivier Piani, chief executive of Allianz Real Estate; Simon Treacy, group chief executive of MGPA; and Thomas Garbutt, head of global real estate at TIAA-CREF, discuss global capital flows at the ULI Europe Annual Conference. Right: Van Stults, managing director at Orion Capital Managers, at the ULI Transatlantic Capital Markets Forum.
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CONNECTING CAPITAL AND THE BUILT ENVIRONMENT
ULI Center for Capital Markets and Real Estate
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he Capital Markets Center aims to inform and educate ULI’s members regarding the intersection of real estate finance and capital markets and address their interests in wider economic and property sector trends. The Capital Markets Center once again published its renowned series of Emerging Trends in Real Estate® reports in partnership with PwC. The three reports, covering the Americas, the Asia Pacific region, and Europe, were released between October 2012 and January 2013 and captured the key anticipated real estate developments for the year ahead. The reports were presented by PwC partners and ULI’s fellows and staff at 65 events around the world, directly reaching nearly 10,000 people. The reports have established a wider reputation as a trusted source on the outlook for real estate investment and development trends. As a result, they were cited in more than 450 articles worldwide, including mainstream media outlets such as the New York Times, Wall Street Journal, Reuters, South China Morning Post, CNBC, and CNN. In the United States, the Capital Markets Center has established the ULI/Ernst & Young “Real Estate Consensus Forecast,” which is a twice-yearly survey of 50 leading economists. The forecast, which provides quantitative outlooks on 27 indicators covering the economy and real estate market conditions, now regularly attracts 350 members to the corresponding webinar.
The Capital Markets Center also brings members together face-toface at meetings and forums. The annual ULI McCoy Symposium on Real Estate Finance took place in New York City in December 2012, assembling 40 leaders in the world of real estate finance and investment to discuss and explore key trends and issues affecting real estate capital markets. In Europe, ULI published its second Have Property Funds Performed? report, which analyzed the returns provided by real estate funds over the previous decade. The report was launched at Barcelona Meeting Point in October 2012 and sparked numerous articles in real estate investment publications. The Transatlantic Capital Markets Forum, held in Paris in June 2013, brought together 30 leading real estate capital markets professionals from both sides of the Atlantic. The event explored the availability of debt and equity, as well as the outlook for real estate markets in both Europe and the United States. In Asia, Mainland China Real Estate Markets: Analysis of City Investment Prospects was released in June 2013 at the ULI Asia Pacific Summit in Shanghai. Now in its third year, the report focuses on real estate development and investment prospects in 36 of the largest cities in Mainland China. A joint effort between the Capital Markets Center and ULI Asia, it draws from an annual survey of and interviews with industry experts who are active in Mainland China and based in Mainland China or Hong Kong.
ULI Life Trustee Bowen H. (Buzz) McCoy, who generously endowed the ULI McCoy Symposium.
Emerging Trends in Real Estate
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2013 Europe
The Emerging Trends reports were presented to nearly 10,000 people at 65 events around the world.
C O N N E C T I N G C A P I T A L A N D T H E B U I LT E N V I R O N M E N T
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Advisory Services Panels ULI has undertaken over 600 Advisory Services panels around the world since their inception in 1947 and delivered 11 panels in the 2012–2013 financial year: ■■ Arusha, Tanzania ■■ Budapest, Hungary ■■ Buffalo, New York ■■ Clark International Airport
and Special Economic Zone, Philippines ■■ Healthy community panels
• Arvada, Colorado • Lamar, Colorado • Westwood, Denver, Colorado ■■ Manatee County, Florida ■■ Niagara Falls, New York ■■ South Bay, Boston,
U
LI’s Advisory Services panels provide strategic advice and practical solutions to communities facing urban development challenges. From citywide master plans to individual sites, the panels bring together the best and brightest from ULI’s diverse membership to offer candid and impartial advice. Panels consist of industry leaders from a broad range of backgrounds and disciplines including developers, planners, funders, market analysts, economists, architects, and public officials, who all volunteer their time and expertise. The panel spends up to a week on site interviewing stakeholders, exploring options, and debating potential solutions before making its final recommendations.
Boston South Bay District Boston’s South Bay district sits at an industrial crossroads, occupying a slice of land between the city’s two major interstate highways. In the early 2000s, a major infrastructure project known as the Big Dig rerouted a portion of Interstate 93 into an underground
tunnel. As a result, ten new parcels of land opened up in South Bay, but their development was stalled by the 2008 recession. Fast-forward to 2013 and a brighter economic outlook, and Boston’s leaders felt the time was right to establish South Bay as a vibrant mixed-use district. However, they needed guidance about how to proceed, so
Massachusetts ■■ University of California,
Merced, California
Barcelona: New Convention Center Expands Meetings Market—1999 Picture a modern, expansive convention center set in Barcelona’s Diagonal Mar seafront esplanade and near 22@, the city’s new business and technological district, surrounded by nearly 5,000 hotel rooms and a complete public transport network. The Centre de Convencions Internacional de Barcelona, which opened in 2004, has helped transform Barcelona into the number-three city for association meetings worldwide (after Vienna and Paris). Its successful development—which has spurred significant additional development in the surrounding area—can be traced back to a 1999 ULI Advisory Services panel that was asked to evaluate the city’s proposed plan for a new convention center on the Diagonal Mar site, as well as Barcelona’s convention and congress market and the proposed World Forum of Cultures. Hines and the city of Barcelona cosponsored the Advisory Services panel that visited Barcelona in November 1999. They asked the panel, chaired by James De Francia,
president of Lowe Enterprises Community Development Inc., to look at a parcel of land slated for public use that was part of Hines’s Diagonal Mar, a 34-hectare (84 acre)
mixed-use, sustainable development project that aimed to complete the urban beachfront regeneration begun in 1987 for the 1992 Summer Olympic Games. The sponsors charged the panel with evaluating proposed convention center plans for the site, as well as the city’s convention and congress market. Barcelona already had one convention center, the Fira de Barcelona; was there enough market demand for another? And if the answer
to that question was “yes,” how should the Diagonal Mar site be master planned to develop a successful convention center there? At the same time, Barcelona was preparing to host the proposed World Forum of Cultures (Forum 2004) and wanted to know if the proposed new convention center should be built as a venue for that event. “Local parties had combined the two issues, seeking to build a new convention center for Forum 2004 without considering the center’s longer-term use and focusing only on the needs of Forum 2004 in thinking about the convention center design,” recalls De Francia. “One of our most important conclusions was that these were separate questions; each needed to be assessed independently.” The panel agreed with Hines and the city that the Diagonal Mar site, though constrained, was an appropriate one for the proposed convention center, and presented recommendations to assist the city in moving ahead with building a marketable convention center there. The panel offered guidelines regarding the sizes and locations of various elements (including how many hotel rooms would be needed and where they should be located), provided advice on how to incorporate technology, and suggested preemptive planning to mitigate adverse urban impacts such as noise and traffic. Overall, the panel’s report stressed that
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An Advisory Services Special Report
Barcelona, 1999
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ADVISING COMMUNITIES IN NEED
they enlisted the help of a ULI Governors Advisory Panel. Governors Advisory Panels (GAPs) are a special subset of the Institute’s Advisory Services program, funded through a generous gift from ULI Foundation Governor John Hagestad. As Hagestad explains, the ULI Foundation Governors “have a tremendous knowledge base in their areas of expertise; I would say there is no finer body of knowledge and that it’s unmatched throughout the world.” In the case of Boston, city leaders felt a sense of urgency about the
South Bay planning area. As the Governors toured South Bay, they recognized that the site held enormous potential, especially with Tufts Medical Center in the neighborhood. The panelists suggested scaling back proposals for intensive development and focusing on creating better connectivity between the parcels, a more creative use of open spaces, and partnerships to bolster existing residential and retail developments on the site.
Smedes York of York Properties Inc. “Whether they agree with it or not, it’s totally up to them. The idea is that we have the credibility and it’s what we really believed.”
“We made some very solid recommendations and saved [Boston] a whole lot of agony going forward,” says panel chairman
“ [ULI Governors] have a tremendous knowledge base in their areas of expertise; I would say there is no finer body of knowledge and that it’s unmatched throughout the world.” —John S. Hagestad, managing director, Sares Regis Group, and ULI Governor
ADVISING COMMUNITIES IN NEED
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The Clark Special Economic Zone (CSEZ)
Headline
Sandor Finta, the chief architect for the municipality of Budapest, briefs the ULI Advisory Services panel on the challenges facing Budapest.
Clark International Airport and Special Economic Zone, located on Luzon Island in the Philippines, is located approximately 40 miles northwest of metro Manila. The base, which was vacated by the U.S. Defense Department in 1991, later served as an international airport and as a facility for the Philippine Air Force. It covers 14 square miles, much of which contains underused or obsolete space.
Budapest, Hungary Budapest is a city of significant size and importance—it is Europe’s seventh most populous city and the largest in eastern Europe. Despite the city’s rich endowment of culture and creative assets and urban design, the recent global and European economic challenges have exposed the city’s lack of competitiveness and demonstrated that it has limited access to new growth sectors and investment. The city has not kept pace with other central European rivals and there is no obvious source of future growth in the absence of a new, dedicated and proactive strategy. Conversely, the new focus from the E.U. and World Bank on the Danube as a strategic level for intervention, the provision of urban investment capital within the EU budgets, and the growth of Budapest’s population provide opportunities for a new strategic framework for the city’s development.
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In June 2013, a two-day panel, made possible by a ULI Foundation Urban Innovation Fund (UIF) grant, was undertaken at the invitation of the city of Budapest. The panel, led by ULI Europe’s chief executive, Joe Montgomery, and senior visiting fellow, Professor Greg Clark, also included Paolo Verri from the Urban Centre in Turin, Italy, and Dr. Eugen Antolovsky, director of EuropaForum, based in Vienna, Austria. The panel examined the potential for Budapest over the next decade, including the consequences of failing to optimize opportunities, how the public and private sectors should collaborate to realize the potential, and how the city should be positioned and branded.
The Base Conversion and Development Authority (BCDA) of the Philippines commissioned a ULI Advisory Services panel, which visited the area on a fiveday assignment in January 2013. The panel toured the facility and conducted numerous stakeholder interviews, including a meeting with Philippine Secretary of National Defense Voltaire Tuvera Gazmin. The panel concluded that the redevelopment of the former Clark Air Base in the Philippines, now the Clark International Airport and Special Economic Zone, had the potential to provide significant economic benefits as a thriving aerotropolis serving the entire region. Among the panel’s recommendations for the redevelopment were the establishment of a new world-class airport facility to serve as the gateway to the Philippines, improved transport access to the airport, and development of the surrounding districts to create housing, commercial, and industrial uses, as well as educational, recreational, and tourist facilities. “The panel was well received at the highest levels of the Philippines’ defense department and other government agencies. Our meeting with the secretary
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ADVISING COMMUNITIES IN NEED
and his senior aides allowed the panel to thoroughly understand the interests of the defense establishment with regard to the redevelopment of Clark,� said ULI
leader James DeFrancia, chairman of the Advisory Services panel and principal of Lowe Enterprises, Inc. in Aspen, Colorado.
Advisory Services panel site tour to the Clark Special Economic Zone (CSEZ) in the Philippines.
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Above and facing page: Peter Walker leads a tour of the National September 11 Memorial in New York City. Right: Amanda M. Burden, 2009 J.C. Nichols Prize Laureate and then New York City Department of City Planning commissioner, presented Peter Walker with the ULI J.C. Nichols Prize for Visionaries in Urban Development. Burden was the first donor for the prize, which was supported by MetLife Foundation and the Kresge Foundation in FY2013. Left: One World Trade Center—also known as the Freedom Tower—is the main building of the new World Trade Center complex, which is also the location of the Peter Walker–designed September 11 Memorial.
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Awards
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LI’s globally renowned award programs play a crucial role in recognizing best practices in land use around the world. The awards act as recognition for the exceptional work and dedication shown by real estate practitioners from all disciplines as well as provide encouragement and inspiration for others to follow. By acknowledging the very best, ULI hopes to raise standards across the world.
The ULI J.C. Nichols Prize for Visionaries in Urban Development The ULI J.C. Nichols Prize for Visionaries in Urban Development was won in 2012 by renowned landscape architect Peter Walker. The first landscape architect to win the Nichols Prize, Walker has spent the past five decades creating public spaces that are beautiful, user friendly, and memorable. His passion remains designing landscapes that are “flexible enough” that people want to return. “What I try to do whenever I take on a project is I think about the people who might be using it—from little kids to old folks to everyone in between,” Walker says. “I try to satisfy those needs in the most direct and simple way possible.” Walker’s most famous project is the National September 11 Memorial in New York City, which evokes a range of emotions due to the enormity of the event it commemorates and the beauty of its elegant design.
In addition to that memorial, Walker and his California firm PWP Landscape Architecture have designed prominent landscapes for clients around the world, including the Nasher Sculpture Center in Dallas, Sony Center in Berlin, and Millennium Parklands in Sydney.
“ His work is completely representative of what the Nichols Prize stands for— a lifelong dedication to building places that will be shared and cherished for generations.” —John Bucksbaum, chairman of the jury commenting on J.C. Nichols Prize winner Peter Walker
Through his academic positions leading the landscape architecture departments at Harvard University and the University of California at Berkeley, Walker has influenced generations of landscape architects and brought a heightened sense of professionalism and distinction to the field. John Bucksbaum, chairman of the Nichols Prize jury, believes Walker’s landscapes create memories, community, and personal experience as much as they evoke these themes. “His work is completely representative of what the Nichols Prize stands for—a lifelong dedication to building places that will be shared and cherished for generations. “For ULI, choosing Peter Walker makes a statement about the importance of landscape architecture to the built environment, and especially the necessity of providing sustainable systems, both built and natural,” Bucksbaum says. ULI’s highest honor, the annual prize was endowed to the ULI Foundation by the family of J.C. Nichols as a legacy of the legendary Kansas City, Missouri, developer and founding ULI member. The prize recognizes exemplary work that is rooted in a commitment to change people’s lives for the better.
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Global Awards for Excellence Established in 1979, the ULI Global Awards for Excellence continue to be at the heart of the Institute’s efforts to identify and promote best practices in all types of real estate development.
Mirabella at South Waterfront in Portland, Oregon, creates a signature for senior living integrated into a dense urban neighborhood. Image: Lawrence Anderson Photography.
The 34th year of the awards program saw 14 developments in eight countries selected as winners from among nearly 200 entries. Each of the winning projects demonstrated exceptional standards of excellence in design, construction, economics, planning, and management. The 2012 Global Awards for Excellence winners were: ■■ Accident Fund Holdings Inc.,
New National Headquarters, Lansing, Michigan, USA. (Developer: Christman Capital Development Company; architects: HOK, Quinn Evans Architects, et al.) Historic preservation partnership for the repurposing of a power plant for higher-end office use. ■■ Armstrong Place Senior and
Family Housing, San Francisco, California, USA. (Developer: BRIDGE Housing Corporation; architect: David Baker + Partners; builder: Nibbi Brothers General Contractors.) Affordable and senior housing as a catalyst for revitalization. ■■ Atlantic Wharf, Boston,
Massachusetts, USA. (Developer: Boston Properties; architect: CBT Architects.) Mixed-use green waterfront skyscraper integrated with the harbor and surrounding neighborhood.
transformation of the public domain, integrating large-scale commercial development, a highly articulated playground, and public space. ■■ Levine Center for the Arts,
Charlotte, North Carolina, USA. (Developer: Childress Klein Properties, Wells Fargo & Co.; architects: TVSDesign, Machado and Silvetti Associates, Mario Botta, et al.) Cultural complex as an urban experience, generating a vibrant and high-energy arts district. ■■ Life Hub @ Jinqiao, Shanghai,
China. (Developer: Shanghai Edmonton Real Estate Co. Ltd.; architect: Palmer & Turner Consultants Ltd.) Retail-anchored mixed-use development project articulating an integrated environment. ■■ Manitoba Hydro Place,
Winnipeg, Manitoba, Canada. (Developer: Manitoba Hydro, Kuwabara Payne McKenna Blumberg Architects, et al.) Public/ private partnership to generate a downtown, state-of-the-art, energy-efficient office structure. ■■ Mirabella at South Waterfront,
Portland, Oregon, USA. (Developer: Pacific Retirement Services; architect: Ankrom Moisan.) High-rise retirement community enabling engagement with the greater downtown lifestyle. ■■ Red Oak Park, Boulder,
Colorado, USA. (Developer: Boulder Housing Partners; architect: Coburn Development.) Urban infill redevelopment of a mobile-home park into highly sustainable affordable housing.
■■ Darling Quarter and
Commonwealth Bank Place, Sydney, Australia. (Developer: Lend Lease; architects: fjmt, ASPECT Studios.) Major
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■■ Saigon South New City
Center, Ho Chi Minh City, Vietnam. (Developer: Phu My Hung Corporation; architects: Skidmore, Owings & Merrill LLP, Kenzo Tange Associates, et al.) Large master-planned community retaining local character with a sustainable approach. ■■ The Avenue, Washington,
D.C., USA. (Developer: Boston Properties; architects: Pelli Clarke Pelli Architects LLP, Hickok Cole Architects, et al.) Complex mixed-use development of a city block reintegrating diverse urban functionality. ■■ The Fitzrovia Apartments,
London, U.K. (Developers: Ridgeford Properties Ltd. and Manhattan Loft Corporation;
architect: HOK.) Mixed-use, high-end development including an affordable component and a public/private partnership to redevelop a medical facility. ■■ Tour First, Paris, France.
(Developers: Altarea-Cogedim, AXA REIM, and Beacon Capital Partners; architect: Kohn Pedersen Fox Associates.) Refurbishment and modernization of a pioneering skyscraper, enhancing its presence and impact on the surrounding area. ■■ Valletta Waterfront, Malta.
(Client: Valletta Cruise Port PLC; design team: EDSA Inc., AP, Colin Toms and Partners.) Regeneration of derelict ferry terminals in a historic core offering a new amenity model.
Urban Open Space Award The annual Urban Open Space Award celebrates and promotes vibrant, successful urban open spaces by recognizing and honoring an outstanding example of a public destination that has enriched and revitalized its surrounding community. The award was created through the generosity of Amanda M. Burden, New York City planning commissioner and 2009 J.C. Nichols Prize laureate. The award continues through the generous support of the Kresge Foundation, the MetLife Foundation, and the ULI Foundation.
An innovative public realm articulates Darling Quarter’s commercial development in Sydney Australia. Image: John Marmaras.
The 2012 winner of the Urban Open Space Award was Railroad Park in Birmingham, Alabama.
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Armstrong Place offers a townhouse development full of first-time homebuyer families.
“ Railroad Park is a transformative example of how open space can enrich and revitalize a surrounding community as well as become a critical part of the urban social fabric.” —Randall K.Rowe, chairman of the Urban Open Space Award jury
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The project was recognized for its creative reuse of a railroad freight yard to transform the city’s urban center and for its deliberate attempt to weave the city’s history into a timeless urban space. In the 20th century, Birmingham suffered from racial and socioeconomic divisions caused by segregation, urban flight, and violent reactions to the civil rights movement. As the new millennium approached, city leaders sought ways to creatively redevelop the city’s blighted urban core and forge a connection to the University of Alabama at Birmingham, located on the city’s southeast corner. They believed the city’s railroad-based history would figure prominently in giving the downtown a fresh look and a brighter future.
Based in part on recommendations from a 2002 ULI Advisory Services panel, Birmingham created a public park on 19 acres straddling the rail corridor. Railroad Park opened in 2010. Now regarded locally as “Birmingham’s living room,” Railroad Park is a space of celebration, recreation, and relaxation for city residents. It sparked a surge of interest among business leaders in pursuing new real estate developments, including the Cityville Block 121 luxury residential complex, and Pepper Place, a $13 million office and retail space for design-focused businesses.
Camille Spratling, executive director of Railroad Park. “It’s gratifying that the work of such a dedicated group of people is receiving recognition. I’m proud to be part of that.” In naming the winner, Randall K. Rowe, chairman of the award jury, said, “Railroad Park is a transformative example of how open space can enrich and revitalize a surrounding community as well as become a critical part of the urban social fabric.”
“The Urban Land Institute Urban Open Space Award is a testament to Railroad Park’s role as a catalyst for growth and revitalization in downtown Birmingham,” says
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ULI Gerald D. Hines Student Urban Design Competition The ULI Gerald D. Hines Student Urban Design Competition is an urban design and development challenge for graduate students. Since its inception in 2003, the Hines Competition has challenged graduate students to form multidisciplinary teams and devise a comprehensive development proposal for a real, large-scale site. The competition gives students hands-on experience in the realworld process of working with colleagues from other disciplines to create a viable development project. The winning team receives a $50,000 prize, with the finalist teams also receiving $10,000 each, made possible by a $3 million endowment from Gerald D. Hines to the ULI Foundation. The winning team in 2013 was made up of students representing Kansas State University, the University of Missouri at Kansas City, and the University of Kansas. The team won with its proposed long-term development plan for a Downtown East Minneapolis site adjacent to the forthcoming Minnesota Vikings stadium.
market realities of Minneapolis, using strategies that capitalized on concurrent activity to create a desirable place to live in each phase of development. “It was a tremendous experience in terms of collaboration and to test ourselves against some of the best schools,” said Kevin Cunningham, a Kansas State University team member pursuing a master of landscape architecture. “One of the strengths of our team was how well we collaborated among ourselves, especially when we were meeting each other for the first time back in the fall. We really wanted to learn from each other and grow as young professionals throughout the competition. It was great to represent Kansas State University and the entire region in a project that turned out to be successful.”
“The winning team, composed from three different disciplines and three different universities, designed and presented so seamlessly, and the jury evidenced first-hand the best of interdisciplinary functionality and thinking that Gerry Hines had sought in this competition,” said jury chairman Bart Harvey.
“ … the jury evidenced first-hand the best of interdisciplinary functionality and thinking that Gerry Hines had sought in this competition.” —Bart Harvey, chairman of the ULI Gerald D. Hines Student Urban Design Competition
The team competed against 790 students representing 70 universities across the United States and Canada. The judges were impressed by the high quality of the final proposals.
Although based on a fictional scenario, the winning proposal, titled “The Armory,” tackled city and local stakeholders’ desire to reinvent Downtown East as interest builds in anticipation of the new stadium. This design provided a new vision for the area that transforms the rigid, undesirable economic conditions at site—with surface parking and billboards—into a dynamic, livable urban district. The proposal included using an underused historic structure, the Armory, as a symbol of identity for the revitalized area and created the city’s first iconic open space. Most important, the winning proposal was grounded in the
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Educational Programs
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haring of best practices among members and developing the next generation of real estate professionals—crucial parts of ULI’s mission—are delivered through a range of educational programs.
UrbanPlan ULI looks to nurture understanding of the built environment among young people through the innovative UrbanPlan initiative. Developed in partnership with the Fisher Center for Real Estate and Urban Economics at the University of California at Berkeley, UrbanPlan educates tomorrow’s neighbors, community leaders, public officials, and land use professionals on issues involving planning and land use. UrbanPlan enables students at high schools and universities to discover how the forces of a market economy clash with and are influenced by the nonmarket forces of representative democracy in creation of the built environment. The interactive, classroom-based program asks student teams to address options for the redevelopment of a blighted site in a hypothetical community, examining the project from a number of perspectives. The program is taught by ULI members and is run through the District Council network.
UrbanPlan has reached more than 20,000 students across the United States since its launch in 2004 and has enabled more than 1,500 ULI members to share their knowledge and experience with the future leaders in the field of real estate.
Professional Development Program ULI operates a professional development program for practicing real estate professionals at all levels. The program is designed to serve professionals across multiple disciplines through in-person, online live, and ondemand workshops covering a variety of real estate topics. During the past fiscal year, a total of 1,775 people participated in ULI’s professional development programs in one of these three formats. Because ULI is an approved provider of continuing education for the American Institute of Architects (AIA) and the American Institute of Certified Planners (AICP), many of the Institute’s courses, workshops, and events provide credits for professional accreditations from these organizations.
took place in Saudi Arabia. The workshops included new-format ULI Real Estate School programs, which were redesigned to last three days rather than four; the winter school programs were held individually rather than simultaneously, helping boost overall attendance to 277 people, up from 169 attendees for the previous year. To accommodate professionals unable to attend workshops in person and those who prefer the flexibility provided by remote learning, ULI provides a combination of live online programming and recorded content available on demand. ULI held 21 two-hour webinar sessions on nine program topics and three on-demand programs that were attended by a total of 726 people. The first program to combine both live and remote elements was also undertaken last year, with the live workshop taking place in Reed Smith’s Washington, D.C., offices, with a video broadcast to District Council audiences in Los Angeles, San Francisco, and Chicago.
Last year, ULI conducted 30 one-, two-, and three-day in-person workshops that were attended by 749 participants; for the first time, two customized programs
“ UrbanPlan is in a class by itself—advancing ULI’s mission and brand while enriching students, the community, and ULI members alike.”
Above: UrbanPlan participants, ULI San Francisco. Right: Martin McDermott, a real estate instructor for ULI’s Professional Development Program. Far right: ULI New York member volunteers receiving an award for UrbanPlan.
—Rick Dishnica, president, The Dishnica Company LLC
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DEVELOPING EXCELLENCE THROUGH EDUCATION
“ Through UrbanPlan, my students knit together a complex network of ideas with a taste of zoning laws, building-site selections, not to mention number crunching. The instant appreciation and awareness of their urban environment are unparalleled.” —Jose M. Cruz, assistant principal of social studies at Murry Bergtraum High School for Business Careers in New York City
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Leadership Programs
L “ We need to provide and implement the leadership skills necessary to attract, motivate, and retain the best and the brightest minds—the land use leaders of the future.” —Harry Frampton, former ULI chair
eadership is at the core of ULI’s mission, so the Institute looks for every opportunity to help members improve their leadership skills and serve as leaders for ULI’s many programs, panels, and working groups. ULI conducts or is actively involved with a number of initiatives that look to enhance leadership within members, the development industry, and communities everywhere.
Larson Leadership Initiative The Robert C. Larson Leadership Initiative focuses on infusing “leadership DNA” in ULI’s members. The initiative provides training to participants that enhances their professional leadership skills, offering programs and coaching that enable them to be more effective leaders in their businesses and communities. The last financial year was particularly active for the Larson Leadership Initiative. More than
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150 people participated in Centers for Leadership across five District Councils in Atlanta, Michigan, the Northwest, South Carolina, and Washington, D.C. The Centers are nine-month programs that cultivate leadership skills among emerging industry leaders. More than 2,000 people attended ten leadership sessions at the Fall Meeting in Denver, and another 60 top-level business executives attending the CEO Summit discussed the latest industry trends and shared their experiences and lessons learned from managing their organizations. The Spring Meeting Summit in San Diego, which was held with the Women’s Leadership Initiative, was attended by 60 people and took the form of an interview with Deborah Szekely. The conference also included the second annual Emerging Leaders Roundtable, with ULI Governor Sandy Apgar as the moderator. The Larson Leadership Initiative also undertook a study on
CEO succession, titled Avoiding Vacancy: Becoming a “Succession Leader” in the Real Estate Sector, in partnership with global executive search firm Russell Reynolds Associates.
Women’s Leadership Initiative Part of the Larson Leadership Initiative, the Women’s Leadership Initiative (WLI) was established with the objective of raising the visibility and number of women leaders in ULI and the wider real estate industry. The initiative was officially launched at the 2012 Spring Meeting in Charlotte, North Carolina, and its reach and influence have grown during the past fiscal year, aided in part by over $100,000 provided by the ULI Foundation Annual Fund. The WLI provides a Fall Meeting Scholarship Program recognizing exemplary women members of ULI who have made significant contributions to the organization and have demonstrated a long-
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DEVELOPING EXCELLENCE THROUGH EDUCATION
Robert Larson’s goal was to ensure a “legacy of leadership” for the Institute—to infuse leadership DNA in ULI’s members.
Above left: Robert C. Larson Above right, left to right: Rebecca C. Randolph, Leah C. FitzGerald, and Lynn Carlton. Left: The REAP Chicago class of 2013—one of four REAP programs (New York Washington D.C.; and Cleveland) to graduate last year, all supported by ULI as part of its longstanding contribution to Project REAPs.
term commitment to real estate and land use issues. Last year, nine women were awarded a scholarship that provided them with complimentary access to the ULI Fall Meeting and a provision for expenses.
Real Estate Associate Program ULI has continued its active involvement in and support of the Real Estate Associate Program (REAP), which is widely acknowledged as the most successful diversity initiative in the commercial real estate industry. This market-driven program serves as a bridge between talented minority professionals and commercial real estate companies looking for talent.
More than 80 REAP associates now work for leading firms in the industry, from London to Los Angeles and New York to New Mexico. The program was launched in Washington, D.C., in 1997 and has since expanded to cities across the United States. Patrick Phillips serves on the REAP Board of Directors, and several REAP graduates have joined the Institute through ULI Los Angeles.
Women’s Leadership Initiative Scholarship One recipient of the WLI scholarship to attend the Fall Meeting in Denver was Laura Reinbold, a licensed professional engineer and a branch manager of one of the largest geotechnical engineering firms in Tennessee. “Engineering is not an easy industry for women, especially for attaining leadership positions,” says Reinbold, who in 2012 became the first woman elected to the board of directors for the ASFE/the Geoprofessional Association. Reinbold’s experiences showed her the importance of female role models and managers in fields dominated by men—a conviction that drew her to the WLI. Reinbold values ULI for “connecting my engineering with the larger conversation about planning and land use” and credits the WLI for “actively recruiting and retaining women in my industry.”
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F C
ULI Foundation Annual Fund Founders Circle $25,000 OR MORE Trish and John Healy u Linda Law Peter Rummell u
Leadership Circle $10,000–$24,999 Joseph Azrack u Kathleen Carey Jack Chandler Tobin Cobb James Curtis u Bruce Duncan Bruce Etkin u Michael Fascitelli u Michael Foust Thomas Garbutt Mark Gibson Richard Gollis Rosalind Gorin u Michael Hayde u W. Dean Henry u Tyler Higgins Dorine Holsey Streeter u Kenneth Hubbard u Gregory Hummel u David Jenkins Bruce Johnson u Gregory Johnson u Chaim Katzman Jeffrey Kelter u James Klingbeil u A. Eugene Kohn u David Lentz Vincent Lo Bruce Ludwig u Todd Mansfield u George Marcus u Melinda Masson u David Mayhood u John McNellis u Hamid Moghadam Barry Moss u Robert O’Brien u Richard Perlmutter u Jonathan Pollack Diana Reid Philip Riordan Howard Roth u Randall Rowe u Deborah Ratner Salzberg Geoffrey Stack u Lynn Thurber u Simon Turner David Waite u
Chairman’s Circle $5,000–$9,999 Douglas Abbey u David Allman Clifford Booth u Cia Buckley James Callard u Colleen Carey Richard Dishnica u Harry Frampton u
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Theresa Frankiewicz John Hagestad u Phillip Hughes u John Kukral u Christopher Kurz u Christopher Ludeman Bowen “Buzz” McCoy u Robert Merck John O’Bryan Peter Pappas u Richard Powers Daniel Rose u Adam Schwartz Robert Sharpe u Martin Stein Robert Stine u Thomas Toomey u Frank Transue u Goldie Wolfe Miller
President’s Circle $2,500–$4,999 C. Joseph Blackbourn G. Niles Bolton u Mary Borgia u Jonathan Brinsden John Bucksbaum u Marty Burger Preston Butcher u Kathryn Campbell Lynn Carlton Mona Carlton J. Christopher Chaffin James Chaffin u William Chilton Stephen Conley Michael Covarrubias u John Cushman Reg DelPonte Ambrose Dittloff Arthur Fields u John Gates u Veronica Hackett u James Harris u Alison Hawkins Pamela Herbst John Higgins Jonathan Holtzman Robert Hughes u Kirk Humphreys Edward James u David Johnson Marty Jones Neisen Kasdin u Gadi Kaufmann u Mary Ann King Steven Kohn M. Leanne Lachman u David Larcher Robert Lieber u Robert Lowe u Mary Ludgin Douglas Lyons William MacDonald James Maginn u Scott Malkin u Barry Mandel Roy March u Lauralee Martin John McKinnerney Robert McLeod u Alexander Mehran Terry Montesi Constance Moore Bahram Motamedian Vicki Mullins u
Mark Myers Ronald Nahas u Timothy Naughton Stephen Navarro Jeremy Newsum u Dennis Oklak Thomas Owens Alfred Pace Marc Perrin Dan Petrocchi u Edward Pettinella Samuel Plimpton Richard Price James Ratner u Dale Anne Reiss u Carl Rieger Struan Robertson Jonathan Rose Kenneth Rosen Richard Saltzman u Kevin Shannon Kelley Smith u Glenn Stephenson Ron Sturzenegger Owen Thomas u Simon Treacy Warren Troupe Daniel Van Epp u Greg Vogel u John Walsh Philip Waterman Jaidev Watumull Robert Webster u Gregory Weingast u Serena Wolfe Margaret Wylde Smedes York u
Skyline Club $1,000–$2,499 Matthew Akin Toni Alexander u Howard Altshuler Tyler Anderson Richard Arnold James Bachner Laura Bailey Will Balthrope Thomas Barker Peter Bechen Laura Beuerlein Cynthia Birmingham John Blumberg Graham Bond Randall Bone James Boone William Bowness Richard Burns James Butz Harvey Camins Gary Campbell Richard Campo Anthony Capuano W. David Carey Frank Carmel James Carpenter Daryl Carter Don Casto Bruce Choate Rick Choate David Christensen u Sheri Chromow David Clark Bruce Cohen U. Lincoln Coleman Alice Connell Douglas Crocker u Alan Dean
$5
Sean Deasy Pierre Desautels Mark Detmer Robert DeVries Robert DeWitt Barry DiRaimondo Thomas Donnelly u Peter Donovan Joseph Drew Jeffrey Dritley David Dufenhorst Lili Dunn Jack Durburg John Echols Steven Eggert Grant Ehat James Ellis Gregory Engler Douglas Etkin u Stephen Farnsworth Gary Fenchuk u Philip Fitzgerald Jeremy Fletcher Charles Flint Mark Forrester Brad Foss John Fowler Dovid Frankel Merrie Frankel Patricia Gibson Alexandra Glickman W. Andrew Gowder Donald Grant Robert Gray Bert Gregory Randall Griffin Aubrey Haines Lee Halford James Hammermeister Deborah Harmon Jeffrey Harris Thomas Hart Lori Hatcher Clyde Holland Matthew Holmes Robert Holmes Gina Holstien David Howerton u Robert Ivanhoe F. Scott Jackson u Robert Jennett Bruce Johnson u K.S. Kalsi Fern Kanter Craig Kaufman Michael Kelly u James Ketai Robert Kline Walter Koelbel u Mark Kroll u Craig Krumwiede u Mark Leary Christopher Leinberger Robert Lewis Richard Lincoln Frank Lutz Isaac Manning Alan Mark William Seth Martin John Mays Brian McAuliffe Daniel McCaffery William McCall u John McClutchy Thomas McNearney Susan Merrick David Mgrublian Robin Michel Andrew Miller Andy Mitchell
Co J.J Stu Da Th Na Le Ch Ha Ma Ry Sc Su Fra Ma Mi An Wi Sc Br Ch De Ste Th Ch Ke Ca Mi Ma Ste Br Ric Wi Tim Jo Pa Pa J. Ste Jo Se Ch Ja Ro Ba Ne Te Ed Br Da Ma Pe Mi Ro Su Ge La Da Ria Jo Ka Je An Jo He Je Mi Ke Ho Ja Ke Art Br Gr Ma Se Da Em La Mi Je L. Th Wi Br Ro Pe
Donald Monti Jonathan Moss James Mulvihill Patrick Nash Daniel Neidich u David Nelson u Arndt Nicklisch William O’Connor John O’Donnell u John Orehek Coburn Packard Barbara Koz Paley Lawrence Palumbo Alan Patton Christopher Payne John Peterson Patrick Phillips u Russell Platt John Porter Thomas Powers Roger Pratt Stephen Quazzo u Jeff Quicksilver Adam Raboy Ron Rasmussen Eugene Reilly Greg Reimers Marc Renard William Reynolds Kim Richards u David Robertson Ruben Roca Alex Rose u Wendy Rowden Joseph Rubin Robert Ruth u Anne Ryan Daniel Safier Brian Sands Michael Schueler u Ira Schulman David Schwartz Elizabeth Seifel William Selvage Thomas Senkbeil Scott Shapiro Stephen Silk Ronald Silverman u Mark Silverwood John Slidell Richard Stein Sabine Stener Gary Stewart Phillip Stoffregen Jeffrey Swope u Robert Taubman Mark Tennison Robert Thompson Sheri Thompson William Tooley u Alexander Twining Gregory Vorwaller Lee Walker Frank Walter Thomas Wattles Daniel Weaver K. Jay Weaver Robert Weekley u Stephen Whyte John Wilbanks Cynthia Wilusz Lovell Michael Winn R. Kyle Winning Casey Wold Aaron Wooler James Worms Mathew Wyman F. Karl Zavitkovsky♦ Jon Zehner u Simon Ziff
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ULI FOUNDATION ANH NE UA AD L EFRU?N?D ?
Foundation Club $500–$999 Corinne Abbott J.J. Abraham Stuart Ackerberg Dallas Addison Thomas Adler Nariman Afkhami Lela Agnew Chris Akbari Harry Alcock Mark Alfieri Ryan Anderson Scott Anderson Susan Ansel Frank Apeseche Mahlon Apgar u Michael Atkins Anthony Avila William Banks Scott Bassin Brad Beelaert Christopher Beda Dean Bellas Stephen Benjamin Thomas Bennison Charles Berman Kenneth Bernstein Carl Berry Michael Berry Matthew Birenbaum Stephen Blank Brandon Blaser Richard Boales William Bogaard Timothy Bolinger Joseph Bonner Paul Borden Parrish Boren J. Theodore Borter Stephen Bowers John Breitinger Sean Breslin Charles Brindell James Brinkerhoff Ronald Brock Barry Brown Neil Brown Ted Brown Edward Burr Brian Byrne David Cacciapaglia Margaret Cafarelli Peter Calkins Michael Caprile Robert Cardoza Susan Carter George Casey u Lawrence Casey Daniel Cashdan u Riaz Cassum John Cecil u Kathleen Cecilian u Jeffery Cernuto Anthony Chang John Cibinic Henry Cisneros Jeffrey Citrin Michael Cochran Kenneth Code Howard Cohen Jack Cohen Kevin Colket Art Collins Brian Collins Gregory Collins Marty Collins Sean Cooley David Cordish Emerick Corsi Lawrence Corson Michael Couch Jeff Courtwright L. Michael Cox Thomas Cox u William Cramer Brian Cullen Ron Curtis Peter Cyrus
Charles Darby Linda Davenport Manuel De Zarraga James DeFrancia u Daniel Deibel Rex DeLong Gary Derck Peter DiLullo Steven Disse Ben Doherty Stephen Dominiak Edmund Donaldson Everett Dowling Gary Downs Carl Duke T. Patrick Duncan Colby Durnin David Durning Ronald Eastman u Andrew Ebbott Lee Edlund Joel Eisemann Jay Eisner Peter Falco William Fausone Eric Fischer Thomas Fisher John Fitzgerald Patrick Fitzgerald Adam Flatto Leonard Forkas Jeff Foster Jack Fraker Christopher Fraley Bruce Freeman Jonathan Frey Karl Frey Andrew Friedman Stephen Friedman Steven Friedman Mark Friis Adam Fruitbine Stephen Furnary u Roger Galatas Norman Garden Lev Gershman Eugene Godbold Marc Goldstein Pat Goldstein u Donald Goo R. Lawrence Good John Goodman Mark Goodman John Gray Anthony Greenberg Bradley Griggs Thomas Grimes Thomas Grusecki John Gunther-Mohr Timothy Haahs Nick Hackstock Eric Hade Michael Hagan Mary Hager Jay Hailey David Hale Timi Hallem Nedra Halley Clark Hanrattie Larry Harmsen Patrick Harper Kevin C. Harrigan Frederick Harris Keith Harris Jay Hart Cindy Harvey Jill Hatton Jeffery Hayward Arden Hearing Christopher Hecker Thomas Herb Grant Herlitz Charles Hewlett William Heywood Susanne Hiegel Jay Hiemenz Roger Hill Dennis Hillier Scott Hodson James Horvath Adam Ifshin Mitchell Imanaka Linda Isaacson David Israel
Brian Jackson Jeremiah James Debby Jenkins Margaret Jennesse Larry Johnson Paul Johnson Brett Johnston Adam Kane Tim Kane Barry Karpay Gerald Karr Mark Katz Stephen Kaufman Brian Kavoogian Edmond Kavounas u Peter Kaye Christopher Kazantis John Keeling Mark Kehke u Larry Kelley Richard Kelley Douglas Kessler Marcum David Khouri Mitchell Kiffe Robert Kildow Robert Kilroy Edwin Kimsey Rick Kirkbride Frederick Kramer Peter Krause Mark Krebs Paula Krugmeier Quentin Kuhrau Lee Kuntz Joseph Lalli John Landwehr Brian Lavin Stephanie Lawrence Matthew Lawton Andrew Lax Gregory Leadholm Chang Lee James Lee Christian Lessard Daniel Levitt Paul Lewis James Light u Todd Lillibridge Kenny Lipschutz Brian Lipson John Livingston Darla Longo Larry Lukanish Mark Lunt Ronald Lunt Matthew Lustig Donald MacKenzie Simon Malk Adam Markman Joseph Martignetti Craig Martin David Martin James Maurin Jamie May Michael May Martin Mayer Marc McAndrew Thomas McCahill Eric McClelland H. Thomas McDuffie John McGurk Thomas McMullen u Donald McNamara u Sean McReynolds Chad McWhinney Michael Medzigian P. James Mehalso Fred Merrill Dwight Merriman Jeffrey Meuter Paul Meyer Robert Micera Robert Michaels Greg Michaud Nelson Migdal Donald Miller Mark Miller Robert Miller Tommy Miller Jeffrey Mongan Carl Montante Bill Montgomery Kim Morque Keith Morrow
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Friends UP TO $499 Ned Abelson Amachie Ackah Matthew Adams Patricia Adell David Adelman Lela Agnew Marianne Ajemian Rafik Albert Richard Albrecht Laura Aldrete John Alexander Dennis Allen Gary Allen Mark Allyn Karen Alschuler Ann Althoff Jeffrey Altman David Ammons C.A. Anderson Donald Anderson Joshua Anderson Luke Anderson Matthew Anderson Morgan Anderson R. Bird Anderson Robert Anderson William Anderson Gary Andrews Steven Angel William Anthony Joseph Antunovich Russell Appel Thomas Arasi William Armstrong Thomas Arnold Mark Aronson David Arthur Christian Asdal David Ash F. Kevin Aucello Gregory Averbuch Elinor Bacon Roy Bajtel David Baker Jeffrey Baker Laurie Baker Hugh Balloch Miles Ballogg Michael Banner Sean Bannon Audie Barefoot Bradley Barker Robert Baron Jason Barron Maria Barry Jonathan Bartlett Daniel Bartok
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David Galowich Theodore Gamble Larry Gargano Steven Garrett Peter Garver James Garvey James Gascoigne John Gavin Jonathan Geanakos Andrew Genova Suman Gera Edward Geraghty Eugene Geritz Peter Gerney Claudia Gerster Catherine Gessert Mossman Shelton Getter Paul Geyer Michael Giaimo Will Giambalvo Stewart Gibbons Thomas Gibson Steven Gichner Alexander Gilbert David Gilbert David Gilmore Russell Ginise Carine Girardin Jack Glottmann W. Douglas Goff Larry Golinsky Richard Gomel Gary Goodman Thomas Goodsite Paul Gordon Michael Gorge Joseph Gorin Alan Gosule Gregory Gotthardt Sharon Grambow David Grannis Gene Grant Patrick Grasso Clifford Graves Rose Gray Jonathan Grebow Barry Green Daniel Green Alan Greenwald Michael Grove Robert Grow R. Gordon Grubb Claude Gruen Nina Gruen Stuart Gruendl Edward Grun Ryan Guheen Neal Gumbin Jeffrey Gumbiner Terri Gumula Christopher Hager Steve Haggerty Donald Hague James Hahn Rodney Hall Toxey Hall Michael Halperin John Hammerschlag Michael Hammond Jeff Handlin Jack Hannum Erik Hanson R. William Hard David Haresign Keith Harney Scott Harper Amos Harris Jeffrey Harris Christopher Hartung H. Darrell Harvey Ronald Harwick Philip Hawkins Randolph Hawthorne Charles Hazen James Hedden Michael Hedden Bohdy Hedgcock Martin Heflin Jim Heid Ralph Heins Jason Hellendrung Jeffrey Heller Woody Heller Jeff Helminski
| ULI 2013 ANNUAL REPORT
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Jo Eri Je Br Pe Jo M. Art M. To Da Cli Da Ke Th Sc Je Ph Ge Ro Liz Ric Jo Ra Da Ke Eri Ja D. An Th Gr Do Tra Cla Og Br Sti Ma Ju Br Da Ge E. All Ch Mi Ra Wi Ke Ma Ja Th Br Da Wi Fra Gu N. Ste Sa Be Ly De Mo Eri Je Mi Ne Sc Ste Ste Ed La Ma Ro Jo Ke Ru Th La Ja Jo Le Alv Mi Ch Jo bill Ph Ke Ro Ste Ja
ULI FOUNDATION ANH NE UA AD L EFRU?N?D ? John Hempelmann Erica Henning Jennifer Hernandez Brent Herrington Peter Hersh John Heywood M. Maxine Hicks Arthur Hill M. Edward Hill Todd Hill David Hilliard Clint Hinds David Hirschberg Kevin Hites Thomas Hoban Scott L. Hobby Jenny Hodge Philip Hofmann Gentry Hoit Ronald Holecek Liz Holland Richard Holliday Johnathan Holmes Randall Holmes David Holton Kevin Hoover Erik Horvat James Houser D. Clayton Howell Andrew Hudacek Thomas Hudson Grace Huebscher Donald Huffner Tracy Huggins Claire Humber Ogden Hunnewell Bradley Hunter Still Hunter Mark Huppert Justin Hurley Brad Hutensky David Ingram Gene Inzer E. Andrew Isakson Allen Jackson Christopher Jackson Michael Jackson Randal Jackson u William Jackson Kevin Jacobs Matthew Jacobs Jay Jacobson Thomas Jaekel Brian James Darcy Jameson William Janes Frank Jansen u Guy Jaquier N. William Jarvis Steven Jasa Sarah Jelencic Benton Jenkins Lynn Jerath Dennis Jerke Monica Jindia Eric Johnson Jeffrey Johnson Michael Johnson Neal Johnson Scott Johnson Stephen Johnson Stephen Jones Edwin Jordan Lance Josal Maureen Joyce Robert Jue John Jugl Kevin Kaberna Rudy Kadlub Theodore Kahan Lani Kane Hanan Jarett Kaplus Jonathan Kardon Lee Karny Alvin Katz Michael Katz Christine Kaufman Joel Kaul bill kearns Philip Keb Kenneth Kecskes Robert Keith Steven Kellenberg Jason Keller
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John Petrovski Theola Petteway John Philipchuck James Phillipp Robert Pinkard Joseph Pitchford Lou Plasencia Kalvin Platt Roger Platt Todd Platt Richard Plummer Joshua Poag Jody Pokorski Michael Polentz Willis Polite u Marc Pollack James Porter Ken Portnoy James Postweiler Daniel Poulin Richard Poulos Douglas Poutasse Gregory Power Michael Powers R. Thomas Powers Glenn Preston Amy Price James Price Joshua Pristaw Steve Pritulsky Matthew Pullen Steven Pumper Lat H. Purser David Quigley B. Douglas Quimby Whayne Quin u Michael Racy Walter Rakowich Gary Ralston Lance Ramella Gary Rappaport James Ratkovich Jonathan Ratner Robert Rediker Lee Redmond John Reed u David Regenbaum Todd Regonini Allison Reid Brent Reid Soultana Reigle Austin Reilly Jeffrey Reiman Thomas Reiman Ben Reinhardsen Jeff Reinhold Vincent Reyna John Reynolds William Reynolds u David Ricci Bob Richardson Timothy Richey W. Pretlow Riddick Kevin Rieger Alan Riffkin Kevin Riley Mark Riley Carleton Riser Malaika Rivers Will Rivett Craig Robbins Thomas Roberts William Roberts Andrew Robins Neil Robinson Richard Robinson Michael Rodgers Kenny Rodrigues Trini Rodriguez Kurt Roeloffs Michael Roepcke Robert Rogers Richard Rome Georgina Romero Shlomi Ronen John Ropes u Candace Rosauro Joseph Rose Lawrence Rose Richard Ross Richard Ross Stan Ross u Steven Roth Robert Rotticci
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ULI FOUNDATION ANNUAL FUND
“Your contribution supports programs that spark change, drive new thinking, and make a visible difference.” —Jeff Stack, Annual Fund chairman Mark Rubin Katherine Rudolph-Darling Robert Ruffatto Teresa Ruiz Gregory Rush Philip Russ Terence Russell Michelle Russo Greg Ryan Kirby Sack Lynne Sagalyn Jun Sakumoto Pablo Sala Lee Saltzman Scott Sambade Vincent Sanders Mike Sanford Cherie Santos-Wuest Shelley Santulli Michael Sarkozi Randall Sater Ross Satterwhite Mark Saturno Robert Schaedle Bradley Schafer Richard Schaupp Sheridan Schechner Jeremy Scheetz Hunter Schenk Richard Schierburg James Schmid Nancy Schmierbach Mark Schoenfeld Scott Schoenherr John Schrader Andrea Schultz Gregory Schultz Mark Schurgin Michael Schwaab Douglas Schwartz Steven Schwartz Mike Schwarz Judi Schweitzer Steve Scott Mark Scully Lynn Sedway u Matthew Segrest Michel Seifer Anthony Seijas Arnold Seitel Richard Serfas Douglas Sesler Robert Sessa Suril Shah Glenn Shannon Jay Shapiro John Shardlow Justin Shaw Stephen Shelesky James Shelton John Sheridan Robert Sherwood Ruth Shikada Vladimir Shlafman John Shooshan Nina Shor Noah Shore Steven Shores Bill Shubin William Shubin Claudia Sieb Sandy Silverman Jamie Simchik Bob Simpson Drew Singer Charu Singh Ellen Sinreich Paul Sisson Andrew Siwulec Teri Slavik-Tsuyuki
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Neal Sleeper Matthew Slepin u Michael Slevin Matthew Sloan Albert Small Andrew Smigielski Douglas Smith James Smith Michael Smith Nathaniel Smith Ross Smotrich K. Stanley Sokolove David Soles William Sonntag Nishu Sood Cynthia Spall Hilary Spann Bryant Sparkman Frank Spencer Wes Spiker Steven Spillman Danielle Sprouls William Srinivasan Daun St. Amand Daniel St. Clair Randall Stadtmueller Robert Stang David Stebbins J. Michael Stedman Mark Steele Peter Steil Robert Steinberg u David Steinwedell Chris Stephens Mark Stern Martin Stern Robert Stern William Stevens Martin Stever Andrew Stewart James Stifel Tucker Stine Nicholas Stolatis Pete Stone Wilson Stone David Strange Mark Strauss Geoffrey Stricker Cheryl Strickland Linda Striefsky Matthew Stroyman Spencer Stuart Jr. Jo Anne Stubblefield Susan Stupin Frank Sullivan Mary Sullivan Michael Sullivan William Swackhamer Eric Swanson Emily Sweitzer Tiffany Sweitzer Kirk Sykes Nathan Taft Jon Talty Rusty Tamlyn Noelle Tarabulski William Taubman Angel Taveras David Taylor Deeni Taylor Jessica Taylor Gary Teague Charles Teal Jamie Telchin Jeff Temple Gary Tesch Gregory Thatch Robert Thiergartner Cora Bett Thomas William Thompson
Mark Thorne Bryan Thornton David Thorpe James Threatt Mo Tidemanis David Tilton Malee Tobias Michael Torres Joseph Tracy Clifford Treese Harriet Tregoning Anthony Trella George Tremblay Katie Troutman Charles Tseckares Joseph Tufariello Bryce Turner C. Christopher Turner Robert Turner Colin Underhill Robert Underhill John Unwin Jeffrey Usow Robert Vahradian Stephen Van Dusen Michael Van Epp Philip Van Syckle Russell Vandenburg Wayne Vandenburg Bill Vanderstraaten Patrick Vedra Neil Viny Don Vita Charles Vogel Rodney Vogel Peter Volas Richard von Luhrte Robert Voyles Kimberly Wachen Lee Wagman William Waldron Kenneth Walker Taylor Walker Stan Wall F. Bogue Wallin John Walsh u R. Warren Walters Jonathan Wang Richard Ward Jim Warmington Ranne Warner Leonard Wasserman Paul Wasserman Eva Wassermann William Watch David Watson Monty Watson Todd Watson John Watt Nadine Watt Susan Watts J. Ben Wauford George Weidenfeller Adam Weiner Carl Weisbrod Andrew Weiss Adam Weissenberg Philip Weller Peter Weltchek Jennifer Wenzel Michael Werner J.R. Wetzel Philip Wharton Chris Wheeler Michele Wheeler James Whelan Gary White Thomas White Timothy White W. Clifford White Andrea Whiteway William Whitlow Gary Wiggin Richard Wilhelm John Williams u Smith Williams Stuart Williams Timothy Williamson A. Michelle Willis Bradley Wilmot Mark Wilsmann Alan Wilson Jon Wilson Thaddeus Wilson
Michele Wimpling Jonathan Winer Jeffrey Wingert Matthew Winn Michael Winter Michaela Winter John Winther Kenneth Witkin Beth Witte G. Ronald Witten J. Mark Wolf Lawrence Wolfe John Wolff Alex Wong Davis Wood Wistar Wood Jeff Woolson Jim Workmeister Jeffrey Worthe Craig Wrench Ruth Wuorenma Matthew Wymer Clint Wynn Diane Yep Stephen Yndo Edward Yon George York Michael Young Robert Youngentob Nancy Zabriskie McGrath Thomas Zacharias Mathieu Zahler Sean Zasche David Zehnder Kenneth Ziebelman Timothy Zietara Scott Zimmerly Hillary Zimmerman Roger Zino Kevork Zoryan Allan Zreet Mark Zytko
The Jeffrey S. Kahan Full Member Fellowship Fund The Family of Jeffrey S. Kahan Valerie Achtemeier Jeffrey Barclay Peter Bechen Faye Beverett Douglass Bond Pamela Schmidt Boneham Harvey Camins James Carpenter Jack Cohen Frank Creamer James Curtis III Michael Dardick John DiCola Andrew Ebbott Bruce Etkin William Fausone Jack Fraker Andrew Friedman Jeff Friedman Jonathan Geanakos Mark Gibson Thomas D. Grusecki John Hagestad Trish Healy Tyler Higgins Dorine Holsey Streeter Guy Jaquier Wade C. Lau Jane Lloyd John Mannix John McGurk John McKinnerney Robert Micera Donald Miller Jonathan Mirkin David Naus Christopher Noon Perry Pinto Todd Platt
Douglas Schwartz Michael Torres Thomas Wattles Dennis Williams Stephen Williams
Memorial Gift Donors The Bohannon Foundation Cynthia Birmingham Paul Boschetto Preston Butcher u John Cushman Cushman & Wakefield of California, Inc. Bowen “Buzz” McCoy u Carole McNeil Robin Michel Susan Pattee Skyline Construction The Wells Fargo Foundation
ULI Staff Donors Corinne Abbott Lela Agnew Phyllis Alzamora Gayle Berens Justin Beveridge Steve Blank Joan Campbell Kathleen Carey Craig Chapman Carla Coleman Mary Beth Corrigan Cheryl Cummins Caren Dewar Bernadine Dullaghan John Fitzgerald Cate Gogol Luis Gonzalez Sara Hammerschmidt Lori Hatcher Will Heywood Jessie Himmelrich Andrea Holthouser Michael Horst u David Howard Rob King Jerry Kirschenman Joseph Klem Anita Kramer Nicholas Lalla Daniel Lobo Mary Lydon Kelly Mann Iskra Marinova Edward McMahon Thomas Mitchell David Mulvihill Phillip Nelson Christopher Noyes Julie Paul Patrick Phillips u George Prior Jason Ray Elizabeth Razzi Trisha Riggs David Rose Lynn Ross Lisa Rother Dean Schwanke Brandon Sedloff Elliot Stein Caroline Sullivan Heidi Sweetnam Debra Sydenham Ann Taylor Michael Terseck Debra Throckmorton Marilee Utter Stephanie Wasser Jessica Waymouth Yasmine Yates-Kidwell Jessica Zimbabwe u denotes ULI Foundation Governor
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About the Urban Land Institute The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is committed to ■■ Bringing together leaders from across the fields
of real estate and land use policy to exchange best practices and serve community needs; ■■ Fostering collaboration within and beyond ULI’s
membership through mentoring, dialogue, and problem solving; ■■ Exploring issues of urbanization, conservation,
regeneration, land use, capital formation, and sustainable development; ■■ Advancing land use policies and design practices
that respect the uniqueness of both the built and natural environments;
Established in 1936, the Institute today has more than 30,000 members worldwide, representing the entire spectrum of the land use and development disciplines. Professionals represented include developers, builders, property owners, investors, architects, public officials, planners, real estate brokers, appraisers, attorneys, engineers, financiers, academics, students, and librarians. ULI relies heavily on the experience of its members. It is through member involvement and information resources that ULI has been able to set standards of excellence in development practice. The Institute has long been recognized as one of the world’s most respected and widely quoted sources of objective information on urban planning, growth, and development.
■■ Sharing knowledge through education, applied
research, publishing, and electronic media; and ■■ Sustaining a diverse global network of local
practice and advisory efforts that address current and future challenges.
ULI and ULI Foundation Headquarters 1025 Thomas Jefferson Street, NW Suite 500 West Washington, DC 20007 United States uli.org ulifoundation@uli.org Phone: 1-202-624-7000 ULI Asia Pacific Level 16, Nexxus Building 41 Connaught Road, Central Hong Kong asia.uli.org Tel: +852 3757 9695 ULI Europe 29 Gloucester Place London W1U 8HX United Kingdom europe.uli.org Tel: 44 (0) 20 7487 9570
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Urban Land Institute 2013 Annual Report
DEVELOPING FOR HUMANITY
U R B A N L A N D I N S T I T U T E 2 0 1 3 A N N U A L R E P O R T | D E V E L O P I N G F O R H U M A N I T Y
The Urban Land Institute provides leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is an independent global nonprofit supported by members representing the entire spectrum of real estate development and land use disciplines. The ULI Foundation’s mission is to support ULI programs and initiatives through philanthropic gifts. With its enormous intellectual capital and extensive volunteer network, the Institute is uniquely positioned to make a lasting impact on the human condition.
Visit uli.org for more information.
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