The Fordham Real Estate Institute is dedicated to educating future industry leaders by providing access to the visionaries in the field, and our latest event was another great example of putting this mission into action.
NEW YORK (PRWEB) February 20, 2018
Building on the momentum of its preeminent industry information events, the Fordham Real Estate Institute hosted its latest panel focused on transit-oriented development on Tues., Feb. 13 at its Lincoln Center Campus in New York City.
Real-estate expert Michael Stoler, co-chair of the Fordham University Real Estate Institute Industry Outreach Committee and adjunct faculty member, moderated “Transit-Oriented Developments: NYC, Long Island, New Jersey, Westchester – Developer, Lender, Planner Perspective,” featuring insight from eight of the leading minds in Metro New York area real estate.
The lively discussion centered on successful projects throughout the area, opportunities for growth and the issues affecting certain towns and cities from becoming hotbeds for these types of developments, including crime, lack of quality employers attracting young talent, affordability for tenants and pushback from municipalities on multifamily properties being built.
Luiz Aragon, Commissioner of the Department of Development in the City of New Rochelle, stressed the importance of developments integrating the city itself into the plans, so visitors and residents will experience all that the city has to offer. He cited New Roc City as an example of a destination that kept visitors insulated from the surrounding area, and how the city is working to incorporate it more into the overall downtown.
One hot topic was the types of people attracted to transit-oriented developments, with many panelists agreeing that empty nesters and downsizers were common tenants and visitors. However, with many young professionals wanting to relocate to New York City’s boroughs and surrounding areas to be closer to city jobs, new opportunities for development have arisen. Leslie Harwood, Principal of Harwood Properties and Managing Director of Newmark Knight Frank touted the opportunities for developing in Jersey City. Rashid Walker, Managing Director of BRP Companies, urged developers to take a closer look at urban markets, citing that many of the company’s successful projects were in areas that are often overlooked.
The panelists discussed how municipalities need to be creative when working with developers, with
Seth Pinsky, EVP and Fund Manager, Metro Emerging Markets & Public Affairs for RXR Realty, using the company’s role as the Master Developers of New Rochelle as an examples. The experts noted that when towns and cities make it less restrictive for developers, through tax incentives and integrating the economic development team, it attracts quality developers that are truly invested in the communities they are building in.
Stoler, along with Mark Melchione, Executive Vice President, People’s United Bank, N.A. Commercial Real Estate and Benjamin Stacks, Market Manager, Northeast Commercial Real Estate/SVP, Capital One Bank, also emphasized that well capitalized new developments with established developers are able to secure funding.
“It was a lively, informative panel discussion and I thank all of the experts for sharing their insights,” said Michael Stoler. “These events resonate strongly with not only students from the Fordham Real Estate Institute but industry professionals at large. I look forward to continuing our successful track record of educational and inspiring discussions.”
The full lists of panelists included:
- Luiz Aragon, Commissioner, Department of Development, City of New Rochelle
- Joe Cotter, President, National Resources
- Leslie Harwood, Principal, Harwood Properties and Managing Director, Newmark Knight Frank
- Mark E. Melchione, Executive Vice President, People's United Bank, N.A. Commercial Real Estate
- Kenneth Pasternak, Founder & Executive Chairman, KABR Group
- Seth Pinsky, EVP, Fund Manager, Metro Emerging Markets & Public Affairs, RXR Realty
- Benjamin Stacks, Market Manager, Northeast Commercial Real Estate/SVP, Capital One Bank
- Rashid Walker, Managing Director, BRP Companies
“The Fordham Real Estate Institute is dedicated to educating future industry leaders by providing access to the visionaries in the field, and our latest event was another great example of putting this mission into action,” Anthony R. Davidson, PhD, MBA, dean of Fordham’s School of Professional and Continuing Studies, which houses the Real Estate Institute.
The Real Estate Institute’s next event will take place on Wed., April 25, with additional details including confirmed speakers and topics to follow. For more information about the Fordham Real Estate Institute at Lincoln Center, visit http://www.fordham.edu/realestate.
ABOUT THE FORDHAM REAL ESTATE INSTITUTE
The Fordham Real Estate Institute currently offers a comprehensive array of professional certificates, and a Master of Science in Real Estate, at its campuses in Lincoln Center and Westchester, New York. Serving professionals and owners/investors of all stripes, the certificate program has seven specialized tracks: Real Estate Finance and Investment, Real Estate Financial Modeling, Commercial Real Estate Credit Analysis, Real Estate Development, Construction Project Management, Commercial Property Management and Residential Property Management. The MSRE curriculum presents the essential elements of real estate finance, investment, development and management. Both programs developed and taught by leading industry practitioners are centered on imparting real-world professional skill sets. Flexibility and convenience are program hallmarks: classes can be taken in-person, online, and at various paces. For more information, visit https://www.fordham.edu/realestate.