MSRED Spring 2016 Newsletter

SPRING

2016

SPRING

2016 MARKET VALUE ANALYSIS

MARKET VALUE ANALYSIS On March 9, 2016, the New Orleans Redevelopment Authority (NORA) released their 2015 Market Value Analysis (MVA) for the City of New Orleans. The MVA is a tool designed by the Reinvestment Fund in Philadelphia to help public officials and private developers to more precisely craft intervention strategies in weak markets and support sustainable growth in stronger market segments. The MVA is based fundamentally on local administrative data sources available at the census block group level, such as changes in home sale prices

and percentage of vacant properties. This emphasis on localized data that is regularly updated allows for more real time analysis and interventions. Indeed, this most recent 2015 MVA updates a very similar analysis done for NORA in 2012, and includes new data sets compiled and maintained by the City of New Orleans that have been significantly improved since 2012.

According to David Lessinger, Director of Planning and Strategy for NORA, “[The MVA] helped substantiate and reinforce many of the things that we knew anecdotally.

Now we have solid data on which to base our decisions.�

INTRODUCING One of the lessons for NORA has been that there are fewer very weak markets in New Orleans than expected.

This is true as many weak markets are actually very close to much stronger markets, or have a strong anchor institution or other characteristics that provide a good base to work with.

The MVA is a useful tool for NORA, but also for private developers and for MSRED students and alumni as well. Tulane’s MSRED program has strong ties with the Reinvestment Fund (RF), which developed the New Orleans MVA and has produced over 30 such studies for cities and regions across the country. Our students typically visit RF’s offices during the Summer Field Study to Philadelphia, and on March 3rd, the President of RF, Don Hinkle-Brown, came to Tulane to lead a discussion on neighborhood scale commercial development. This year also, RF is serving as a research partner for one student’s capstone Directed Research project.

To learn more about RF and the MVA process overall, visit reinvestment.com. To view an interactive map or download data from the 2012 and 2015 MVAs, visit data.nola.gov and search for “MVA.”

COMMUNITY DEVELOPMENT FINANCE The definition of “sustainable development” in the MSRED program has always incorporated social goals and shared community outcomes in addition to an environmental and an economic bottom line. Last year, a new elective course was offered titled “Building Performance and Energy Benchmarking,” and the Spring 2015 Newsletter highlighted the environmental metrics focused on in this course. This year, a new elective course, SRED 6460: Community Development Finance, is being offered that focuses on financing projects with social impact.

SRED 6460 introduces students to the variety of financing sources that support specifically community development projects, including programmatic requirements, underwriting approaches, alternative methods of determining project valuation, and asset management. Coordination with governmental, quasi-governmental and philanthropic entities often funding this work is discussed as well.

The course is co-taught by one of the founding MSRED faculty, Kelly Longwell. Kelly is one of the country’s leading affordable housing and tax credit attorneys, working full time as a Director in the New Orleans office of Houston-based Coats Rose, PC. She previously co-taught SRED 6120: Legal Issues in Real Estate.

Kelly is joined by Brad Calloway, Executive Vice President and Tax Credit Manager at First NBC Bank. Brad is officially a new MSRED faculty member this semester, but he is not new to the MSRED program, having been a regular guest lecturer in numerous classes over the years. More about Brad is included in the new faculty news section of this newsletter.

KEY LEARNING OBJECTIVES OF THE SRED 6460 COURSE:

2

1

Understand programmatic requirements of community development projects

2

Utilize alternative methods of determining project valuation

3

Assess specific asset management topics

4

Discuss underwriting approaches for community development projects

INCOMING MSRED FROM THE DIRECTOR On an academic campus, Spring means graduation. This year’s graduation marks the fifth class of MSRED graduates, which means over 60 MSRED alumni working in a wide variety of increasingly impactful positions in the real estate industry. Approximately half of our alumni are working outside of the New Orleans region in cities across the country, but half have also chosen to live and work in greater New Orleans. Please check the back page of this newsletter for specific Alumni Updates.

The New Orleans region overall has developed significantly in past five years as well. Working with ULI Louisiana, our students identified over $8 billion in large development projects throughout the greater New Orleans region as part of their research for the 2015 ULI Project Tracker. This represents a 20% increase from the 2014 ULI Project Tracker. Beyond individual projects, the City has an increasingly livable Central Business District, recently expanded bus and streetcar service, new public parks along the River and in Mid-City, and plans to establish daily passenger rail service along the Baton Rouge to New Orleans corridor—including a public transit stop at the new $800 million international airport, currently under construction.

Significant ongoing challenges and responsibilities remain, however. Housing prices in The Big Easy are increasingly unaffordable to both renters and homeowners; equity concerns regarding transit and other infrastructure investments persist; new stormwater requirements must be implemented effectively in order to help sustain our drainage and water supply systems; and new development projects and redevelopment efforts need to support our region’s rich history and cultural traditions.

These are some of the key challenges in New Orleans and indeed around the world in the coming years. Tulane’s MSRED faculty and alumni are actively involved in meeting these complex challenges and in developing responsibly. NORA’s MVA analysis described here is one data-driven example of the kinds of tools we are implementing here in New Orleans to guide responsible investment and policy decisions for the long term. But our MSRED network itself is another important tool.

Thank you for being a part of that network. Please stop by if you are visiting New Orleans, and we’ll toast to the next five years.

Casius Pealer, Director & Professor of Practice cpealer@tulane.edu

CLASS OF 2017 We recently completed our review of applicants for next year’s class, and accepted students are in the process of making their final decisions. The deadline for prospective students to submit commitment letters and enrollment deposits is Friday, April 15. Below is a quick snapshot of the students who have been admitted to the MSRED program Class of 2017. This year’s data are compared to overall program averages in parentheses.

AVERAGE GPA

3.3

CLASS OF 2016

(3.25) PROGRAM AVERAGE

VERBAL GRE QUANTITATIVE GRE

63rd

PERCENTILE

56 th

PERCENTILE

FEMALE

AVERAGE AGE

(39%)

30% 70%

(26.2)

25.2

(61%) MALE

BACKGROUND FROM LOUISIANA (37%)

20% BUSINESS

30% (50%)

(50%)

42%

ARCH/DESIGN

Photo Opposite page: Formal release of NORA’s 2015 Market Value Analysis, introduced by NORA Director and MSRED Adjunct Lecturer, Jeff Hebert

3

8-WEEK SUMMER PROGRAM

5 COURSES 16 CREDITS PRINCIPLES OF REAL ESTATE 3 CREDITS PRINCIPLES OF REAL ESTATE II 3 CREDITS REAL ESTATE FINANCE AND MARKET ANALYSIS 3 CREDITS FUNDAMENTALS OF SUSTAINABLE REAL ESTATE DEVELOPMENT 4 CREDITS REAL ESTATE ASSET MANAGEMENT AND OPERATIONS 3 CREDITS

MAY 16 - JULY 10, 2016 REAL ESTATE SUMMER MINOR INSTITUTE For the third year running, the School of Architecture is offering its Real Estate Summer Minor Institute. Open only to Tulane Undergraduate students, the program is an intensive 8-week program designed to help students obtain essential knowledge and skills for entry-level positions and careers in the real estate industry, both residential and commercial. The program provides a strong foundation on Real Estate as a business, specifically focusing on careers as a real estate investor, owner or developer, in real estate finance and in real estate consulting. In addition, the minor provides a robust knowledge in real estate market analysis and asset management. The program also encourages entrepreneurship and wealth building by teaching students how to create, maintain, and grow asset equity.

The program runs at the beginning of the summer and ends when the MSRED students start their summer semester. While this is a more basic program than the MSRED summer semester, it allows students to access the incoming MSRED class at networking events. Registration starts April 1st, 2016.

TO REGISTER OR LEARN MORE, CONTACT JOHN HUPPI, MSRED ADJUNCT PROFESSOR: JHUPPI@TULANE.EDU OR 571.283.2991

CONFERENCE UPDATE ULI LOUISIANA: “WHAT’S REALLY GOING ON” Each fall the Louisiana Chapter of the Urban Land Institute (ULI) hosts a travel conference titled, “What’s Really Going On: Emerging Trends in Real Estate.” This event typically follows the release of ULI’s annual Emerging Trends in Real Estate national publication.

Speakers at the November 2015 event included Andrew Warren, Director of Real Estate Research at PwC; Jim Nickel, Principal with Courson Nickel; and MSRED’s own Casius Pealer, who is also Of Counsel in the Affordable Housing Group at Coats Rose, PC. For the past four years, the MSRED program has collaborated with ULI Louisiana in order to produce a comprehensive project list of regional development projects over $5 million that have been recently completed, are under construction, or are in development.

Thanks especially to Kim Ferrari (MSRED ’16) who has been interning with ULI Louisiana this academic year. The year’s ULI project list identified over $8 billion of real estate development (200+ projects) throughout the greater New Orleans region, a 20% increase from the 2014 analysis. The development in New Orleans was comprised of the following major categories: Other

25%

NEW ORLEANS

8%

The most recent speaker this Spring was Don Hinkle-Brown, President at Reinvestment Fund (RF) in Philadelphia, PA, who discussed his organization’s initiatives on neighborhood scale commercial development. Established in 1985, TRF brings together individual investors, banks, government officials, private foundations and faith-based and community organizations to invest in projects that transform communities. As a federally certified community development financial institution (CDFI), they manage $875 million that comes from over 850 investors.

Through strategic investment, leadership in public policy, real estate development and data analysis, they put resources in the communities of greatest need in the manner that achieves the greatest good—because everyone should have the opportunity to live in a diverse and economically vibrant neighborhood.

Hospital/Health

22%

MSY Airport Redevelopment

Enterprise Community Partners provides funding to make these lectures possible and we also invite local non-profit community development professionals to join in these discussions. Our goal with these invitations is to enhance the relevance and depth of discussions held in class, but also to help achieve Enterprise’s larger educational mission. By opening this educational opportunity to nonprofit development staff, we can expand and deepen the discussion of projects locally while positioning the MSRED program as a resource beyond just our current students.

REAL ESTATE DEVELOPMENT

Hotel/Hospitality

10%

Industrial

11%

SPRING 2016 MSRED/ENTERPRISE SPEAKERS: Education/Schools

14%

Residential/ Multi-family

11%

Thursday, January 28th Chris Haine Senior Manager of Development, Midway Companies

Houston, TX

Thursday, March 3rd

CASE STUDIES IN SUSTAINABLE REAL ESTATE DEVELOPMENT SPRING LECTURE SERIES For the third year, the MSRED program has partnered with Enterprise Community Partners to bring national real estate professionals to New Orleans as part of the required MSRED Case Studies course (SRED 6410). This final-semester course centers on four in-depth project case studies, which students study in advance of lectures from principals involved in either the development or financing of these projects. These principals spend an afternoon with MSRED students discussing their realworld experiences. This course is organized and co-taught by professors Jonathan Leit and Mike Grote, both senior staff in the New Orleans office of Alembic Community Development.

Don Hinkle-Brown President, Reinvestment Fund Philadelphia, PA

Thursday, March 10th Sandra M. Moore President, Urban Strategies St. Louis, MO

Thursday, April 7th David Zucker President, Zocalo Community Development Denver, CO

5

LIVING BUILDING CHALLENGE On October 15th, 2015, the MSRED program hosted Francis Janes, Social Justice Program Manager, from the Living Future Institute in Seattle, WA. Francis led a presentation and discussion on the Living Building Challenge, the most progressive and robust green building certification standard, incorporating social justice & equity as a core component of sustainability. During the presentation, students asked questions relating to the viability of the Living Building Challenge as a valuable commodity for development, as well as specific questions around the JUST label. Additionally, Francis gave a review of recent updates made to reflect the program’s versatility and adaptability to different climates, building programs, and compatibility with LEED standards.

In 2014, the Living Future Institute released the Living Building Challenge 3.0. For more information on the Living Building Challenge, visit living-future.org/lbc.

HOUSTON COURSES WITH FREEMAN

PASEO VERDE WINS USGBC PROJECT OF THE YEAR Paseo Verde, a 120-unit mixed-use rental housing project near Temple University was recently awarded the prestigious U.S. Green Building Council (USGBC) Project of the Year award for excellence in sustainability, community engagement, affordable housing, and transit-oriented development strategies. The MSRED Class of ’16 was fortunate to visit the site during their summer research trip to Philadelphia, PA. This upcoming summer, the MSRED Class of ’17 will be returning to Philadelphia, PA to visit with the developers, Asociacion Puertorriquenos en Marcha and Jonathan Rose Companies.

6

Tulane’s MSRED program has partnered with Tulane’s Freeman School of Business to offer a series of non-credit professional education courses in real estate development in Houston, TX. Course subjects include Real Estate Enterprise, Real Estate Finance, Real Estate Design & Impact, and Real Estate Development Process.

These one-day courses will be offered to industry professionals from the Freeman School’s Houston campus on dates in April, May and July of 2016.

For more information please contact Misty White, Assistant Director for Houston Executive Education Programs at the Freeman School of Business (misty.white@tulane.edu).

Photos This page: Clockwise from left, Paseo Verde, winner of the USGBC Project of the Year Award; Francis Janes of the Living Future Institute; MSRED ’16 students visiting Paseo Verde in Philadelphia. Opposite page: MSRED students in San Francisco for the Fall 2015 ULI conference

ULI FALL CONFERENCE The Fall ULI Conference is an important annual event for the MSRED program. Our students have the opportunity to see a new city while also learning from and meeting some of the most innovative developers and real estate professionals in the world. This year’s Fall ULI conference was held in San Francisco in October 2015. In addition to selecting from among a diverse array of conference sessions, MSRED students had a busy schedule visiting some of San Francisco and Oakland’s most interesting ongoing development projects, coordinated by MSRED director Casius Pealer and faculty John Huppi.

Starting with a tour of the Lennar Urban office, coordinated by Mark Rivers, our students discussed the planned development of more than 12,000 units of residential housing in the San Francisco Shipyard neighborhood. We also visited the Hayes Valley neighborhood, where students met with Amit Patel, Principal of David Baker Architects, and Adrianne Steichen (TSA ’01), Associate Principal at Pyatok Architecture + Urban Design, to discuss recent affordable housing developments.

During a visit to SPUR, a 100-year old research, education and planning advocacy organization, students met with Jennifer Warburg, Special Projects Manager, to discuss SPUR’s initiatives to bring developers and policymakers together to make San Francisco a better place to live and work. Finally, the class traveled across the bay to tour housing and other redevelopment efforts along Oakland’s waterfront and West Oakland’s industrial yards. One of the highlights of the tour was the 16th Street Train Station, which was the original terminus for the first transcontinental railroad.

Special thanks to our hosts listed above, plus Chris Calott, former director of the MSRED program (2013-14) and current faculty member at UC Berkeley. Also, we were joined by a number of other ULI Louisiana attendees, as well as MSRED alumna and conference attendee, Danielle Vachon (MSRED ’13).

7

ALUMNI PROFILES NATE ARDENTE MSRED ’14 Financial Analyst Redgate Capital Partners, Boston, MA Born and raised in Providence, Rhode Island, Nate Ardente graduated from Denison University with a B.A. in Environmental Studies with a minor in Art History. While not the most obvious or direct educational background, Nate always knew he wanted to be involved with the built environment. After evaluating his skills and interests, he decided real estate development was a good match and decided to enroll at Tulane University.

In 2013, Nate joined the MSRED program, where he sought to learn the fundamentals of real estate development. Although he lacked prior experience in finance or accounting, Nate elected to pursue real estate finance as a specialty. Reflecting on his experiences in the MSRED program, Nate says, “Overall, [it] was a great experience as I was exposed to many different people and ideas. The MSRED program focused on the many facets involved with development as well. Whether it be in the private or public realm, attention to detail in each facet is important, and that was definitely stressed in the program through classwork and case studies. Additionally, studying something that you are very interested in in New Orleans is definitely a win-win. There is no place like it.”

After graduating in 2014, Nate was hired by Jones Lang Lasalle (JLL), one of the largest real estate companies in the world, to work with their research group. While at JLL, his focus was on recording and analyzing market data and economic trends in real estate.

In 2015, Nate decided to make a career change to focus more on the ownership side of real estate. Once he was informed that there was an opening at Redgate Capital Partners, located in Boston, MA, for a financial analyst position, Nate says he, “leveraged his education, was persistent, and was hired.”

8

Redgate Capital Partners is a multi-faceted real estate advisory, development, project management, and investment firm specializing in risk mitigation and value creation. Nate specifically works with the Gate Residential group, a subsidiary of Redgate, which focuses on multifamily ground-up development in the outerurban core of Boston and other east coast cities, aiming to create or complement new urban centers within the rapid transit range to downtown. Redgate’s units are designed with the millennial demographic in mind, at an affordable price-point, with city style and amenities.

At Redgate, Nate primarily underwrites and analyzes all of Redgate’s development deals, including multi-family, office, industrial, or mixed-use. Nate also compiles market due diligence for projects, which includes supply and demand studies, comparable sets, demographic analysis, etc. Additionally, he works with the acquisitions team to identify potential sites. Lastly, he maintains the financial models and looks for new ways to make them as efficient and automated as possible.

To date, Nate has worked on more than $500 million in investment in the greater Boston region. Some of his most accomplished developments include the Quincy Project in Quincy, MA, the Chelsea Project in Northern Boston, MA, and 10 Farnsworth in Boston, MA.

CHRISTIAN BRIERRE MSRED ’12 Development Associate Domain Companies New Orleans, LA As a life-long resident of New Orleans, Christian Brierre attended Tulane University as an undergraduate to study sociology. Upon graduating, he began his real estate career working for KFK Group as a Project Associate, eventually working his way up to Assistant Project Manager. At KFK, Christian worked on many projects including the Krauss Building at 1201 Canal Blvd., two Holiday Inn locations located in Metairie and the Westbank, the St. Elizabeth Condominiums, and the St. Joseph Apartments. After

KFK, Christian began preparing for graduate school while working for Tim Clark Construction, where he elevated homes in the New Orleans area.

While researching graduate schools, Christian says the Tulane program was attractive not only because it was located in his hometown, but because his family has deep roots with the Tulane community. His grandfather, father and uncle are all alumni.

Additionally, Christian was attracted to the MSRED program because of the, “crosspollination of business, architecture, sustainability, law, economics, and finance.” Christian believes, “the education I received (BA & MSRED) and the experience gained over the course of my relationship with the university have been, without a doubt, a major determining factor in the evolution of my career and my own personal growth as an individual.”

After graduating in 2013, Christian was hired by the New Orleans Business Alliance to assist in the development and management of the Federal City project in Algiers New Orleans. Christian found this position in part because of his directed research project, focused on a related project at the Naval Support Activity East Bank in the Bywater New Orleans. An individual within the Federal City project took notice to Christian’s research and knew he would make a valuable addition to the Algiers project team. As the project evolved, he moved into a primary real estate development consultant role. Christian says, “without my MSRED thesis, I would not have been able to get the opportunity I did at Federal City.”

In early 2015, Christian decided to make a career change. Once he was informed that the Domain Companies was looking for someone with experience and familiarity with the New Orleans market, he was quick to jump on the opportunity.

The Domain Companies is a real estate development firm headquartered in both New York City and New Orleans. To date, they have completed several influential projects in the New Orleans market including the Meridian, the Preserve, and the Crescent Club.

Recently, Domain has begun redeveloping a substantial portion of Photos Opposite page: Left, 10 Farnsworth exterior, a recent downtown Boston Redgate project; Right, an interior of the 10 Farnsworth Redgate project; This page: Left, Herbsainte, a Domain restaurant renovation in South Market District of New Orleans; Right, Paramount residences in South Market District

the Central Business District and Warehouse District. The project, called the South Market District, includes a number of hotels, retail, and apartment buildings that are all stabilized or nearing completion.

At Domain, Christian’s primary role is to support the executive staff on both the development and construction sides of the business, working in multiple capacities to support all projects from the predevelopment phase through stabilization. His primary duties include project analysis and due diligence, retail leasing, construction coordination, and advising the management, accounting, and marketing departments on specific projects.

GIG PROFILE BEN SAMUELS MSRED ’16 Harmony Neighborhood Development New Orleans, LA A native of Santa Barbara, California, Ben Samuels earned his Bachelor of Science in Business Management, with a concentration in the music industry, from Tulane University in 2015. After deciding to pursue his interest in real estate, he joined the MSRED program to jumpstart his career in real estate development. Ben says, “I wanted to be in a learning environment where I could figure out what the best first steps would be to become a developer.”

During the Fall 2015 semester, Ben was selected by Harmony Neighborhood Development to work as a paid intern. Harmony is a non-profit, affordable housing development group focusing on the revitalization of Central City in New Orleans, LA. Ryan Herringshaw, MSRED ’15, is currently a Project Manager with Harmony.

The “Graduate Internship, Go!” or GIG is an established partnership between the MSRED program and seven organizations working in the Sustainable Real Estate Development context in New Orleans.

Students work approximately 15 hours per week with the partner, in addition to their course load. The GIGs allow students to earn practical experience and working relationships with leaders in the 9

field. In Ben’s words, “I chose to work with Harmony because I felt an immediate connection with the staff and their overall company mission statement and goals. I wanted the opportunity to see everything going on in a real estate organization and was able to do so because Harmony is a small company that works as a unified team.”

Throughout the GIG with Harmony, Ben’s main activity was to fill the role of a research analyst, identifying new properties to develop.

The research included property identification, market analysis, financial packaging, and property dispositions. Ben says he most appreciated feeling like he was, “a part of the staff and [that his] opinions were heard, even as a part-time intern.”

After the MSRED program, Ben hopes to work as a project manager or financial analyst for a private or non-profit real estate development firm. After his GIG experience, he hopes to find a similar company that is mission-driven, project focused, and willing to grow with their employees.

NEW FACULTY BRAD CALLOWAY Adjunct Lecturer, “Community Development Finance” Brad Calloway is an Executive Vice President and Tax Credits Manager at First NBC Bank.

Through this position, he leads the tax credit programs for First NBC Bank, which includes origination and structuring investments in new markets, historic and low-income housing tax credits. His responsibilities include leverage lending and equity investments in addition to providing new market tax credits (NMTC) allocations through the First NBC Community Development Fund LLC, First NBC Bank’s community development entity. Since 2009, First NBC Bank has initiated and invested approximately $250 million in tax credit investments, involving 101 different project developments exceeding $800 million with primary emphasis on Historic Tax Credits and NMTCs. Calloway has been responsible for the allocations totaling $118 million.

10

Calloway has extensive experience in twinning multiple funding sources including but not only federal and state historic and NMTCs, but also Community Development Block Grant funds, tax free bond issuances, and special purpose grants and funding sources.

Calloway completed a Bachelor of Professional Accountancy degree from Mississippi State University and completed the CPA certification process in Mississippi. His previous work experience includes financial auditing for Arthur Anderson & Co. prior to beginning his banking career focused on commercial lending and tax credit financing. Calloway is co-teaching the Spring 2016 Community Development Finance course with Kelly Longwell.

FACULTY UPDATES WILL BRADSHAW Adjunct Lecturer, “Finance Products” On December 11th, 2015, MSRED Adjunct Professor, Will Bradshaw, President of Green Coast Enterprises, broke ground on The Pythian, a 107-year old historic building in downtown New Orleans. Both ERG Enterprises and the Crescent City Community Land Trust serve as co-developers on the development. When completed, the 120,000 SF building will house 69 apartments, including both workforce and market rate apartments. The renovation of this culturally-rich building, which played a prominent role in the City’s history, particularly within the African American community, will also feature the Pythian Public Market—a fresh and prepared food hall—New Orleans woman-owned Magnolia Physical Therapy, a community health center operated by Access Community Health, and shared office space operated by CCCLT. The LEED-certifed Pythian expects to open in the first quarter of 2017. Studio WTA’s Wayne Troyer (TSA ’83) and Julie Babin (TSA ’06) designed the project, and Landis Construction and Harmon Engineering will construct it. MSRED alumna, Regina La Macchia (MSRED ’13) expanded the Lower Central Business District to include the Pythian and several other buildings for Federal Historic Tax Credits.

JONATHAN LEIT & MIKE GROTE Adjunct Lecturer, “Case Studies in Sustainable Real Estate Development” On February 18th, MSRED Co-Faculty and Alembic developers, Jonathan Leit and Mike Grote, announced plans for launching the Bayou Treme Center campus development project, which will renovate the long-vacant former St. Rose de Lima Church into a hub for the performing arts in the city and a cultural anchor on the Bayou Road corridor. The development is a partnership between the Southern Rep Theatre, Rose Community Development Corporation and Alembic Community Development.

JEFF HEBERT Adjunct Lecturer, “Sustainable Design & Planning” On January 25th, 2016, Adjunct Lecturer and Chief Resilience Officer, Jeff Hebert, celebrated the award of $141.3 million to the City of New Orleans from the HUD’s National Disaster Resilience Competition. New Orleans is one of only 13 jurisdictions out of 67 eligible applicants to be awarded funding from NDRC and the award is the second largest nationally. New Orleans’ winning proposal—Reshaping the Urban Delta— calls for the creation of the city’s first comprehensive resilience district in Gentilly with projects that invest in innovative and creative solutions so that the people, culture and infrastructure can thrive. A focus on Gentilly presents opportunities to leverage existing projects, to reduce flood risk and to support the area’s recovery and revitalization.

next generation. HUD funding will support several integrated initiatives that include workforce development and creating parks and green streets that will turn the Gentilly neighborhood into a national model for retrofitting post-war suburban neighborhoods into resilient, safe and equitable communities of opportunity. This major investment will foster transformative change throughout the entire community.”

KELLY LONGWELL Adjunct Lecturer, “Community Development Finance” Kelly Longwell is serving as the Co-Chair for the ABA’s 25th Annual Forum on Affordable Housing and Community Development Law Meeting. This national event will be held in Washington, DC, in May of this year. Professor Longwell was also selected by her peers nationally for inclusion in the 2016 version of the Best Lawyers in America for Real Estate Law.

CASIUS PEALER Professor of Practice, “Directed Research” Casius Pealer was appointed to the Board of Directors for the Louisiana Chapter of the U.S. Green Building Council (USGBC).

STUDENT ALUMNI PANEL

Reflecting on the award, Jeff says, “After launching the City’s resilience strategy last summer, we began implementation immediately. This award marks a significant milestone of the resilience strategy, as we continue to deliver on the promise we made to the residents in shaping the future New Orleans for the

On February 25th, 2016, MSRED faculty Jonathan Leit and Mike Grote hosted an alumni career panel as part of their Case Studies in Sustainable Real Estate Development course. Alumni Blake Gill (’15), Katie Frattaroli (’13), Kyle Gilmore (’15), Michael Bosio (’14), Teddy Newmyer (’15), and Gina Lamacchia (’13) were invited to lead a discussion on their job hunting experience. They also provided advice and tips to the current class of MSRED students.

Photos Opposite page: Left, homes newly occupied by first-time

ALUMNI UPDATES

homeowners through Harmony, a GIG partner; MSRED Adjunct Professor Will Bradshaw breaks ground at Pythian. This page: Left, Alembic presentation of the plan for St. Rose de Lima Church, photo by the Greater New Orleans Housing Alliance; Right, a rendering of Elysian Fields Avenue, reshaped to hold and filter stormwater as part of Hebert’s Reshaping the Urban Delta plan, photo by Waggonner & Ball

2012 Amy Montgomery, MSRED ’12, is now Development Manager at Baron Construction LLC in Nashville, TN.

11

2013 Gina LaMacchia, MSRED ’13, was recently promoted and is now Development Manager at Green Coast Enterprises.

Darell Koh, MSRED ’13, is now Senior Analyst at Dwight Capital in New York, NY. Sarah Hargrove Howard, MSRED ’13, is now the Central Gulf Region Representative, Conservation Acquisition at The Conservation Fund.

She is working on regional conservation land acquisition and the expansion of a Natural Capital Investment Fund across the Gulf South.

Nate Ardente, MSRED ’14, is now Financial Analyst at Redgate Capital Partners in Boston, MA Rebecca Margolis, MSRED ’14, is Owner at Okra Foods in New Orleans, LA Ascanio Serena di Lapigio, MSRED ’14, is now Associate at Abinger Capital in New York, NY.

2015 Tom Dacey, MSRED ’15, is now Assistant Project Manager at Cleveland Construction, Inc. in Cleveland, OH.

Aubrey Chamberlain, MSRED ’13, is now Senior Consultant at Nordic Consulting Partners, Inc., in New York, NY.

Rebeckah Blossman, MSRED ’15, is now Project Coordinator at Burk Property Investments, LLC in New Orleans, LA.

Jasmond Anderson, MSRED ’13, is now Facilities Design Specialist at Dallas County Community College District in Dallas, TX.

Elizabeth Smyth, MSRED ’15, is now Development Analyst at Landmark Properties in Athens, GA. Previously she facilitated a Technical Assistance Panel (TAP) for ULA Louisiana focused on recommendations to revitalize the Jefferson Highway Corridor in Jefferson Parish. Elizabeth worked for ULI Louisiana through the MSRED GIG internship program.

2014 Michael Bosio, MSRED ’14, recently broke ground on MKRED’s Bakers Row condomium project in the Marigny. Additionally, MKRED is working on another mixed-use condomium project at 3200 Chartres in the Bywater.

Logan Rutledge, MSRED ’14, was recently featured in the Northeast Mississippi Daily Journal for his work in repurposing an old midcentury modern dental clinic into an environmentally friendly single-family home.

/TUmsred

#onlyattulane

Photos Left to Right, Logan Rutledge and his dental clinic redesign, photo

by Adam Robinson; sketch of a potential redesign of the Jefferson Highway Corridor by ULI TAP; Student Alumni Panelists speaking to Case Studies in Sustainable Real Estate students

@TulaneArch

@TulaneArch

architecture.tulane.edu/msred Tulane School of Architecture Richardson Memorial Hall 6823 St. Charles Avenue New Orleans, LA 70118-5698 504.865.5389 • cpealer@tulane.edu