Tuesday, November 25, 2008
ULI Gerald D. Hines Student Urban Design Competition
About the ULI Gerald D. Hines Student Urban Design Competition
The ULI Gerald D. Hines Student Urban Design Competition is a graduate-level annual competition that is intended to provide an interdisciplinary learning experience for real estate and design students in the United States and Canada. Self-formed student teams are asked to provide an urban design and a financial feasibility strategy for a large-scale real life site that ULI has identified somewhere in the United States. Through the formation of multidisciplinary teams, the program encourages cooperation and teamwork among future real estate professionals and the many allied professions, such as architecture, landscape architecture, urban planning, historic preservation, engineering, real estate development, finance, psychology, law, and others.
This year’s site, to be announced on January 19, 2009, will be large scale and present complex challenges, needing practicable, innovative solutions that reflect responsible land use. The solutions incorporate design, planning, market potential and feasibility, and development strategies. The submission to the competition will be presentation drawings, tables, schedules, and text.
The seventh annual ULI Gerald D. Hines Student Urban Design Competition is part of the Institute’s ongoing effort to raise interest among young people in creating better communities, improving development patterns, and increasing awareness of the need for multidisciplinary solutions to development and design challenges. This competition is an ideas competition; there is no guarantee or expectation that any of the submitted schemes will be applied to the site. The winning team receives $50,000 and the finalist teams $10,000 each.
How to applyApplication checklist
The following materials must be included in the application:
Form 1: General application form with
• Four-digit identifying team code
• Name of faculty adviser
• Name of professional adviser (if applicable)
• Signature of sponsoring school/department/program head verifying that all participants are full-time graduate students enrolled for spring 2007
• Designated student team leader and contact E-mail address
Form 2: Team Member 1—Leader
• One-page curriculum vitae
Form 3: Team Members 2-5
• One-page curriculum vitae for each team member
Completed forms, c.v.s, and other application documents must be mailed to the address below or, emailed as PDF attachments to udcompapply@uli.org. The subject line must include your four-digit team code. Note that udcompapply@uli.org is a blind address—it will issue receipts only and will not issue replies. Inquiries should be directed to udcompetition@uli.org.
Forms are downloadable as Word documents. Form 1 must be signed by the head of the sponsoring school/department/program, then scanned to PDF if emailed.
Download forms
Deadlines
All applications must be received in the ULI offices by 5 p.m., e.s.t., Friday, December 5, 2008, whether mailed or emailed. If emailed, an automatic confirmation of receipt will be issued to each team leader. Note that this reply is a receipt only and not an acceptance of your team's application for participation in the competition. Address any inquiries to http://udcompetition.uli.org/ud_00_G.html. No phone calls, please.
EMAIL completed materials tomailto:toudcompapply@uli.org
OR
MAIL completed materials toUrban Design CompetitionULI—the Urban Land Institute1025 Thomas Jefferson Street, N.W.Suite 500WestWashington, D.C. 20007-5201202-624-7000
The Competition Web Site
http://udcompetition.uli.org/
Friday, November 21, 2008
LEED Panel Discussion
An interdisciplinary perspective on LEED projects at UIC
Conversation with students, faculty, staff and alumni from engineering, planning, architecture,
business, and many other disciplines
Panelists inlcude:
• Sohail Murad, Professor and Head of Chemical Engineering
• Jeff Lewis, LEED AP, from Design Organization
• Gregory P. Quinn, Associate Director for Capital Programs
Date/Time: Monday Nov 24 / 12-1:30 p.m.
Location: ERF Room 1043, 842 W. Taylor
Thursday, November 20, 2008
2009 Capri Foundation-Summer Internship - Emerging Leaders Program
The Capri Foundation’s Emerging Leaders Program (ELP) is not only committed to increasing the pipeline of qualied people of color into the real estate
industry, but also dedicated to providing networking opportunities with senior executives, leadership development, and career coaching to support increased
retention in an industry in which people of color are underrepresented. In its sixth year, ELP continues to partner with leading commercial real estate
organizations to o-er an exceptional summer internship program. This year’s ELP sponsors are: Capri Capital Partners, Equity Residential and Jones Lang LaSalle.
coaching and other leadership development workshops throughout the duration of the program.
- Location: Chicago
- Program Term: 10 - 13 week summer internship program
- Target Start Date: Early-June, 2009 (subject to change)
- Structure: One week of orientation followed by an assignment at a sponsoring firm
- Compensation: $6,500 - 7,500/month salary, negotiated by each sponsor
- Processing Fee: $25
- African American, Native American, Latino or Asian American
- Demonstrated leadership potential
- Currently a first-year graduate student
- 3-5 years of pre MBA work experience
- Prior experience in commercial real estate is not a requirement to join ELP
• Access to the top real estate firms in the country
• Access to senior executives
• Training from top real estate professionals
• Opportunity to emerge as a leader in the real estate industry
Please be advised that applicants will be notified by
January 9, 2009 for a first-round interview. First-round
interviews are scheduled for February 2 - 6, 2009 in
Chicago - applicants should plan to be available. Once
accepted for an interview, finalists will be provided with
travel and accommodation information.
Capri Foundation
Attn: Oscar Groves
875 North Michigan Avenue
Suite 3430
Chicago, IL 60611
Friday, November 14, 2008
FDIC's Bair pushes aggressive mortgage plan
By Tami Luhby, CNNMoney.com senior writer
Last Updated: November 14, 2008: 11:40 AM ET
NEW YORK (CNNMoney.com) -- In a surprise move, FDIC Chairwoman Sheila Bair Friday unveiled details of her plan to have the government help delinquent homeowners.
There are two key elements to the proposal.
First, housing payments for delinquent borrowers would be reduced to 31% of gross monthly income.
To get there, mortgage rates could be set as low as 3% for five years, before increasing at an annual rate of 1 percentage point until it hits the prevailing market rate. Loan terms could be extended as long as 40 years.
Second, to encourage servicers and investors to participate, the government would share up to 50% of the losses if a borrower who had been helped ended up in default anyway. The risk of re-default had been one obstacle to getting lenders on board with systematic modification plans.
In addition, the FDIC would pay servicers who process mortgages $1,000 for each re-worked loan.
The plan is expected to initially help 2.2 million borrowers get new loans; after some borrowers re-default, 1.5 million would ultimately keep their homes, the FDIC estimated.
The plan would cost an estimated $24.4 billion, which Bair has said could come from the $700 billion bailout Congress approved last month.
"It is imperative to provide incentives to achieve a sufficient scale in loan modifications to stem the reductions in housing prices and rising foreclosures," the Federal Deposit Insurance Corp. said in a statement Friday.
Bair's move Friday sets up a public power struggle not often seen within an administration. Unless her proposal gets the Treasury Department's blessing, it would have to be approved by Congress or wait for review by the Obama administration.
The FDIC has had "productive conversations" with Treasury officials, said Andrew Gray, FDIC spokesman. "We're going to continue to push it," he said.
The FDIC chairwoman has long wanted the government to take a more active role in helping troubled homeowners. She initiated a similar plan at IndyMac, one of the largest mortgage lenders, after the agency took it over in mid-July.
Bush administration officials, however, have resisted her efforts, instead unveiling a plan Tuesday to streamline modifications of loans held or guaranteed by Fannie Mae and Freddie Mac.
Though he praised Bair's proposal, Treasury Secretary Henry Paulson Wednesday said it was one of several under discussion. Bair supporters took that to mean the plan was essentially dead.
Congressional Democrats, however, have continued to press for increased assistance to homeowners. They have publicly backed Bair, which could give her proposal the support needed for adoption.
"[The Fannie/Freddie plan] should not be considered a replacement for the guarantee program authorized by the recently-enacted financial rescue law which the FDIC has agreed to operate," Sen. Christopher Dodd, D-Conn. said Tuesday, after the mortgage finance plan was announced.
No principal reduction
Borrowers who are at least 60 days late on payments would qualify for this program.
Servicers would have to systematically review all the loans in their portfolios to determine whether they would recover more value by modifying the mortgage rather than foreclosing on the home.
But unlike some other government programs, the FDIC proposal would not reduce the principal to bring it in line with the home's current value. Instead it would allow part of the principal to be deferred free of interest to the end of the loan.
Borrowers who sell or refinance before paying off the debt would have to pay the principal at that time or work out a short-sale with the bank, where the servicer agrees to forgive the outstanding balance.
Some consumer advocates consider principal reduction key to assisting borrowers in areas where property values have plummeted, leaving many with mortgages greater than their home's worth.
Under the Hope for Homeowners program implemented last month, mortgages would be written down to 90% of the home's current market value and borrowers would be refinanced into 30-year fixed-rate mortgages insured by the Federal Housing Administration.
The FDIC's program, on the other hand, would not be as beneficial for so-called underwater homeowners. For situations where the mortgage is worth more than the home, the government's loss-sharing arrangement would gradually decline to 20% before ending for homes where the loan-to-value exceeds 150%. The loss-sharing arrangement would last for eight years.
The agency is not pursuing principal reductions because it can achieve affordable monthly payments without them, Gray said.
Also, it's easier to convince investors to agree if the loan balance is not changed. When the principal is lowered, the value of loan modification over foreclosure is reduced.
IndyMac as a model
At IndyMac, agency officials have already modified 5,000 troubled mortgages, achieving affordable payments through interest rate modifications in 70% of the cases. Another 20,000 delinquent borrowers are in the process of having their income verified.
Taking over IndyMac allowed the FDIC to put into practice its call for a streamlined system to mortgage modifications, a move servicers have since followed. Until then, loans were being adjusted on a case-by-case basis, which overwhelmed servicers and increased the flood of foreclosures.
Payments on the modified IndyMac loans, which are being adjusted to between 31% and 38% of income, are lowered by $380 on average, Bair told lawmakers last month.
A total of 65,000 borrowers, or 10% of IndyMac's loan portfolio, were delinquent when the government took over. The agency is reaching out to another 20,000 delinquent borrowers, while the remaining 20,000 borrowers are not eligible for help for a variety of reasons including that they no longer live in the home, have turned in the keys or are already in the foreclosure process.
The agency is adjusting both loans that IndyMac owns and those it services that have been bundled into securities and sold to investors. According to the FDIC, officials are not having trouble convincing investors -- who are often accused of blocking modifications -- that they'll recover more if the loan is adjusted rather than if it goes into foreclosure.
"You demonstrate to investors that modifications are the better alternative," Gray said.
First Published: November 14, 2008: 8:08 AM ET
Wednesday, November 12, 2008
ULI Webcast
See the link below to purchase.
ULI Members: $50 and Non-ULI Members: $75
http://www.uli.org/Books/Books.aspx?iframe=http://commerce.uli.org/AM/Ecommerce/ProductDisplay.cfm?Productid=1762
Tuesday, November 11, 2008
CoreNet University Alliances Website
I am pleased to announce the launch of CoreNet Chicago’s University Alliances website. When you get a chance, visit http://www.corenetglobal.org/chapters/chicago/universityalliance.html.
We hope you’ll utilize this website to help you in your job search, apply for the prestigious $5,000 CoreNet Chicago Award for Academic Excellence and to get involved with CoreNet. If you need assistance or have suggestions, please email tsilva@altergroup.com or Wendy Peterson at wpeterson@interiorinvestments.com.
Friday, November 7, 2008
INTERPRETING THE REAL ESTATE ECONOMY
Presents
INTERPRETING THE REAL ESTATE ECONOMY
Thursday, November 20, 2008
6 p.m. – 7:30 p.m.
UIC Student Center East
Conference Center
Fort Dearborn Room
3rd Floor
Featured Speaker: Peter J. Marino
Senior Vice President
CB Richard Ellis / Melody
The election is over! What’s next?
Please join us for this in-depth and informative discussion on:
Real Estate in the U.S. Economy
Defining Real Estate and Its Economic Effects
Real Estate in the GDP
The Cyclicality of Real Estate
Current Problems in Real Estate and Lessons Learned
Please RSVP to carvan1@uic.edu
The Economic Affects of the November Presidential and Congressional Elections
Thursday, November 13, 2008
Breakfast 7:45 a.m. - Program 8:15 a.m.
Maggiano’s Little Italy
111 West Grand Ave, Chicago
Our panel of experts will analyze the impact of the new Congress and Presidency on real estate investments and the development industry. Our experts will focus on Federal regulation, tax issues and the changes in economic policies.
Please join us for this in-depth and informative discussion.
Moderator: Louis P. Vitullo, Attorney at Law, Wildman, Harrold, Allen & Dixon
Keynote Speaker: Ambassador JD Bindenagel, VP of Community Governmental & Int’l Affairs, DePaul University, Former U.S. Ambassador
Panel of Experts: Jeffrey C. Rubenstein, Attorney at Law, Much, Shelist, Freed & Rubenstein
Noel Hastalis, Partner, Virchow, Krause & Company, LLP
Nicholas J. Brunick, Attorney at Law, Applegate & Thorne-Thomsen, P.C.
REGISTER ONLINE
DOWNLOAD PDF FLYER
Tuesday, November 4, 2008
YREP of Chicago invites you to Career and Networking Workshop - 11/20/08
Thursday, November 20, 2008
CAREER WORKSHOP
- What skills are needed to enhance your career?
- Why do some people get promoted faster than others?
- Do you desire to learn how to improve your career?
NETWORKING WORKSHOP
- Why do some people have the ability to create an instant rapport with a perfect stranger?
What makes someone good at networking? - Do you desire to learn how to improve your networking and relationship building skills?
- In today’s highly competitive environment, it is increasingly critical to be a good networker as well as understand how you can position yourself to advance your career. So what does this all mean?
Please join us as we hear from Sharon Krohn as she imparts her extensive knowledge on career enhancement and what employers are looking for in candidates today and then from John Wadsworth who will provide tangible, actionable, and applicable networking techniques that will allow you to create a rapport with a perfect stranger within seconds.
SPEAKERS:
Sharon Krohn, Principal at Sharon Krohn Real Estate Executive SearchJohn "Dartman" Wadsworth, Networking Aficionado
MODERATORS:
Ashley Proctor, Business Development Manager, Guaranty National TitleSteve Janowiak, Managing Director, Capital Realty & Development
PLEASE NOTE:
If you would like to become a YREP member to receive a discount on this event along with other Member benefits, simply join YREP prior to purchasing your ticket. http://www.yrep.org/