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Training Course: Real Estate Development and Reuse

Date: April 4 - 5, 2019

Location: Lansing, MI


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» Instructors
» Certification
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This course conducted in partnership with the Michigan Economic Developers Association; for information on fees and to register online for this class - visit the MEDA website.

 

This course clearly articulates the eight stage process for real estate development and reuse. Specifically, course participants will learn the fundamentals of market and site analysis, financial feasibility, and what political considerations are required to move a development project from conception to realization. Additionally, this course will cover a wide variety of financing tools that are available at the local, regional, and state levels, including tax increment financing, bond financing, tax credits, tax abatements, land assembly, and brownfield redevelopment. Multiple in-class case studies will be used to help participants work through actual financial and regulatory problems.

 

Course Highlights:

• Housing, retail, office, industrial, hotel, and mixed use development
• The regulatory and approval process including zoning and permitting
• Assessing community involvement and political feasibility
• Public, private and nonprofit financial modeling
• Understanding the pro forma operating statement structure
• Property valuation and capitalization rates
• Brownfield redevelopment phase structure and liability
• Request for qualification/proposal process

 

Agenda

April 4

8:00 - 8:30 am

Registration

8:30 - 9:00 am

Introduction

9:00 - 9:45 am

Overview of Real Estate Development & Reuse
During this session, attendees will be introduced to the basics of real estate development and reuse. Participants will be introduced to development process and the roles of the private and public sector and non-profits. Expectations and objectives will be set for the next two days and attendees will be given the opportunity to introduce themselves to the class.

9:45 - 10:45 am

Market and Site Analysis
In this session, participants will learn about two key aspects of development feasibility: market and site analysis. Taking place before a development project is underway, these studies help determine whether a project is a “go” or “no-go.” Participants will look at the various assumptions and inputs that make up a market analysis. The session will also examine how site features and constraints can affect a development project.

10:45 - 11:00 am

Break

11:00 - 11:45 am

The Real World
During this session, participants will learn how the current economic climate is affecting real estate development projects. Interest rates, rental rates and equity requirements will be examined.

11:45 am - 1:00 pm

Lunch on your own

1:00 - 2:15 pm

Financial Feasibility*
This session continues the morning feasibility session with an in-depth look at how to analyze the financial feasibility of a development project. Specifically, participants will learn about the various elements of an operating pro forma, including calculating net operating income and cash flow. Participants will also look at debt and equity financing, as well as how to evaluate a project’s return to the investor(s). This session will be very interactive, with participants applying these tools to an actual case study.

*Participants are asked to bring a calculator to this session.

2:15 - 2:30 pm

Break

2:30 - 4:00 pm

Local Financing and Local Tools for Development
This session provides an overview of local development financing such as tax abatements, bond financing, tax increment financing, special improvement districts and the provision of public infrastructure. In this session, participants will gauge the strengths and weaknesses of these various mechanisms. It will also include redevelopment areas, land assembly, sale-leasebacks and density bonuses.

 

April 5

9:00 - 10:00 am

Regulatory and Approval Process
Economic developers are often called upon to facilitate or expedite the public approval process. This session will explore the public sector’s regulatory role in land development, focusing on zoning, subdivision and other regulatory constraints and hurdles.

10:00 - 10:45 am

Political Feasibility and Community Involvement
While a proposed project may meet market and financial tests, it is not truly feasible unless it has political and community support. In this session, participants will tackle how to assess political support, involve the community and promote the project’s value to stakeholders.

10:45 - 11:00 am

Break

11:00 am - 12:00 pm

Brownfields Redevelopment
Land contamination, whether real or perceived, is a major reason many properties are not being put to their highest and best use. During this session attendees will be introduced to brownfields assessment and regulation and various programs and incentives for brownfields redevelopment.

Noon - 1:30 pm

Lunch on your own

1:30 - 3:00 pm

Interactive Case Study
In this session, participants will split into groups to tackle real life development opportunities. Drawing on knowledge from the previous sessions, attendees will determine the best practices for approaching a real estate deal.

3:00 - 3:15 pm

Break

3:15 - 4:15 pm

Developer Solicitation, Selection and Agreements
This session provides an in-depth look at developer Request for Proposals (RFP). Participants will discuss proposal evaluation, negotiations and the development and disposition agreement.

4:15 - 4:30 pm

Wrap-up and Certificates

 

* Agenda subject to change

**PLEASE NOTE: In order to receive full IEDC certification credit for this course and a certificate indicating course completion, participants must attend the entire course and stay through the final session on the last day. Please make travel plans accordingly.**

 

Instructors

Robin Scott Hunden
President
Hunden Strategic Partners

Mr. Hunden and his firm offer extensive experience in the economics of major real estate projects. Mr. Hunden has provided expertise for over 200 projects including Toronto’s Woodbine Live!, the Kansas City Power & Light District, 4th Street Live! (Louisville), the Indianapolis Downtown Marriott, Chicago’s Union Station redevelopment, the New Yorker Hotel, Conseco Fieldhouse, Fort Worth Omni, and numerous convention hotels, convention centers and mixed-use districts. Prior to starting HSP in 2006, he served as Vice President of Johnson Consulting in Chicago. There, he led specialized work on hotels, conference centers, sports, urban entertainment-retail districts and convention centers. Previously, he conducted real estate finance and transactions at Landauer Associates and Grubb & Ellis. His public-sector experience includes managing projects for the Indianapolis Bond Bank and the Indianapolis Mayor’s Office, including the 1999 Indiana Convention Center expansion, the RCA Dome expansion, and Conseco Fieldhouse financial development. He has written articles on convention hotel development and taught college-level Destination Development courses. He also sits on advisory board for DePaul’s School of Hospitality.

Mr. Hunden is a member of the International Society of Hospitality Consultants (ISHC), ULI, IEDC, IDA, ICMA, IAAM and GFOA. He has conducted IEDC panel discussions and taught numerous professional development courses for IEDC. He has also spoken at the Greek Conference on Tourism and the Bond Buyer’s “Tourism as Economic Development” conference.


Deborah McGill Smith, CEcD
Vice President - Industrial Brokerage and Consulting
Cushman & Wakefield/EGS Commercial Real Estate

Deborah joined Cushman and Wakefield | EGS Commercial Real Estate (C&W | EGS) in 2008 and is an active member of the C&W | EGS Industrial Brokerage Tenant Representation Team for Alabama. She specializes in industrial and land brokerage, real estate consulting and leasing and brings a unique skill set to her clients due to her extensive background in the public sector and economic development.

Since Joining C&W | EGS, Deborah has been involved in the disposition of over three million SF of industrial buildings and worked on several high profile site selection requirements. Deborah also uses her land expertise to help clients with industrial and retail land development.

Prior to joining C&W | EGS, Deborah spent seventeen years in economic development, This included her position as Executive Director of the Jefferson County Economic and Industrial Development Authority (JCEIDA) where she led the development of the McCalla and Lakeshore Jefferson Metropolitan Parks, creating close to $1 billion in capital investment and securing numerous companies including OfficeMax, Home Depot, McKessen Pharmaceuticals, and Magna, as well as data centers for Wells Fargo (formerly Wachovia), Southern Company and Blue Cross / Blue Shield.

Deborah is a Certified Economic Developer and has recently completed two terms as a national Board member for the National Association of Industrial and Office Properties (NAIOP).


James S. Russell, CEcD
Executive Vice President and Chief Operating Officer
The Pizzuti Companies

As Executive Vice President and Chief Operating Officer of The Pizzuti Companies, Jim provides oversight of the firm’s real estate development, consulting and construction activities at its headquarters in Columbus, Ohio and regional offices in Orlando, Florida and Chicago, Illinois.

Jim joined Pizzuti in 1997 with nearly a decade of experience working in the public sector. He was instrumental in the 2005 establishment of Pizzuti Solutions, the firm’s public/private development and consulting division, which is currently providing management and development services for large-scale projects such as a new county courthouse in downtown Columbus, Ohio; a new sheriff’s administration building in Nassau County, Florida; and the Exploration Park high-tech research park being built on the grounds of NASA’s Kennedy Space Center in Florida.

As COO, Jim also leads The Pizzuti Companies’ strategic initiatives and coordinates corporate communications and business development activities.

Jim was awarded the designation as a Certified Economic Developer in 1996 by the International Economic Development Council (IEDC).

His professional affiliations include the American Planning Association (APA); Florida Redevelopment Association; National Association of Industrial and Office Properties (NAIOP); and the Ohio Economic Development Association.

 

Certification

  CEcD logo

This course meets the professional development requirements for the Certified Economic Developer (CEcD) exam. CEcDs earn recertification credits for participation.

 

Accommodations/Training Location

Radisson Hotel Lansing at the Capitol
111 N Grand Ave
Lansing, MI 48933
Room Rate: $129
Cutoff Date: March 13, 2019.

To reserve, call 800-333-3333 or visit www.radisson.com/lansingmi and use code MEDA19

 

Registration

This course conducted in partnership with the Michigan Economic Developers Association; for information on fees and to register online for this class - visit the MEDA website.