Archive for the ‘UST Real Estate in the News’ Category

UST Team to Compete in the Gerald D. Hines / ULI Student Urban Design Competition

Thursday, February 7th, 2013

photo source: Minnesota Vikings

The 2013 Hines Competition is underway!

One hundred sixty teams from 70 universities in the United States and Canada are currently developing solutions for a site in Minneapolis’s Downtown East neighborhood, near the site of the new Minnesota Vikings stadium

The ULI/Gerald D. Hines Student Urban Design Competition, now in its 11th year, is an urban design and development challenge for graduate students. The Hines Competition challenges multidisciplinary student teams to devise a comprehensive development program for a real, large-scale site. Teams of five students representing at least three disciplines have two weeks to develop solutions that include drawings, site plans, tables, and market-feasible financial data.

The University of St Thomas team members are  Thomas McElroy, full time MBA student; Thomas Strohm, MSRE student, Michael Richardson, Master of Urban and Regional Planning  student at the University of Minnesota; Amber Hill, Master of Landscape Architecture student at the University of Minnesota; and John Briel, Master of Urban and Regional Planning  student at the University of Minnesota.

This is an ideas competition; there is no expectation that any of the submitted schemes will be applied to the site. The winning team will receive $50,000 and the finalist teams $10,000 each.

The 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 expectation that any of the submitted schemes will be applied to the site. The winning team will receive $50,000 and the finalist teams $10,000 each. Winners that will advance to the next round of the competition will be announced by the end of February.

Congratulations to Recipients of the Professional Certificate in Commercial Real Estate!

Monday, December 17th, 2012

The Shenehon Center for Real Estate, in conjunction with the University of St. Thomas Center for Business Excellence congratulates recipients of the Professional Certificate in Commercial Real Estate.  The following recipients earned the Certificate on November 28, 2012, after completing the PCCRE program:

Joanna Franco, Corporate Services Specialist – Transaction Management Team, CBRE
Sandy Spangler, Commercial Real Estate Loan Administrator, Associated Bank
Terry Stirewalt, Vice President of Business Services, Richfield/Bloomington Credit Union

The University of St. Thomas Shenehon Center for Real Estate developed the Certificate as a strategy for professionals to keep up with market changes; the program aims to strengthen the foundation of those enrolled for the betterment of their careers, and it is designed for professionals who work within the commercial real estate industry as well as for those making a transition into it.  The six programs provide a comprehensive background of best practices in commercial real estate in the areas of Valuation, Urban Land Economics and Market Analysis, Commercial Real Estate Finance, Investment and Income Analysis, Asset Management, and Legal Aspects of Real Estate and Governmental Controls.  For more information on the Professional Certificate in Commercial Real Estate, visit http://exed.stthomas.edu/CommercialRealEstateEducationMN.

Antonio Bernardi, Rome Campus Benefactor, Dies

Monday, October 22nd, 2012

This post comes from the University of St. Thomas Newsroom.

Father Dennis Dease, Antonio Bernardi and Archbishop John Nienstedt at the dedication of a newly renovated Sitzmann Hall Nov. 30, 2009. (Photo by Mike Ekern ’02)

Please remember in your prayers Antonio Bernardi, a Twin Cities real estate developer and benefactor whose gifts led to the establishment of St. Thomas’ Bernardi Campus in Rome. He died Oct. 4 at the age of 91.

Born in Casella D’Asola, Italy, outside of Venice, Bernardi studied in a seminary in the 1930s, and served as an officer in the Italian Army during World War II and served in North Africa. While stationed in the Tuscan village of Volterra, he met Cecilia, who would become his wife.

He completed an engineering degree and worked for AGIP, an Italian oil company, overseeing its drilling operations in Iran. He became the Italian Consul to Iran and eventually immigrated to Minnesota in 1962.

Bernardi purchased 300 acres of land northwest of what now is Interstate 494 and Highway 100 and helped to develop Edina’s industrial park. A business partnership with Curtis Carlson of Carlson Companies led to the construction of the Radisson South hotel, now the DoubleTree by Hilton. (more…)

Good Question featuring Herb Tousley: When Will Your Home Value Bounce Back?

Wednesday, October 3rd, 2012

Reposted from MINNEAPOLIS (WCCO) – After years of housing woes, the news has started to turn.

One survey of U.S. home prices just charted a jump of 4.6 percent compared to August last year, the largest increase in more than six years, according to CoreLogic.

So are we out of the woods? And when will our homes be worth what they used to be worth?

Keep reading this post at WCCO Minneapolis.

2012 Minnesota Real Estate Hall of Fame Inductees Announced

Friday, September 7th, 2012

halloffame

The Shenehon Center for Real Estate is pleased to announce

the 2012 Minnesota Real Estate Hall of Fame Inductees

David C. Bell
Robert P. Boblett Sr
Philip C. Smaby
Boyd B. Stofer

Join the Shenehon Center for Real Estate for the 2012 Real Estate Hall of Fame Induction Ceremony
Thursday, November 1, 2012

5:30-6:30 p.m. Reception with heavy hors d’oeuvres
6:30 – 8 p.m. Awards Ceremony featuring keynote speaker Gary Stern
University of St. Thomas
Minneapolis Campus
Cost: $50

Register for the 2012 Minnesota Real Estate Hall of Fame Induction Ceremony
Please register by October 15. (more…)

Anderson Student Center wins ‘LEED gold’ from Green Building Council

Thursday, August 2nd, 2012

This post is from the University of St. Thomas Bulletin Today.

The generous use of insulation was just one of many steps that led to gold-level LEED certification for the Anderson Student Center.

The University of St. Thomas’ new Anderson Student Center has been awarded Leadership in Energy and Environmental Design (LEED) gold certification by the U.S. Green Building Council.

The university in 2008 adopted a policy of pursuing green, sustainable and energy-efficient strategies for all new building projects; this marks the first time, however, that it submitted a building for LEED certification.

“I was absolutely thrilled to hear the news,” said Dr. Mary Ann Ryan, associate vice president for student affairs. “And I am still thrilled. It reflects the commitment that our campus community, and in particular our president, Father Dennis Dease, has to environmental sustainability.”

Dease, along with college and university presidents from across the country, in 2008 signed the American College and University Presidents’ Climate Commitment.

LEED certification is granted at four levels that vary based on the number of environmentally conscious efforts that go into a facility’s design and use. To earn one of the four levels of certification, a building is awarded points in each of six categories: sustainable sites, water efficiency, energy and atmosphere, materials and resources, indoor environmental quality, and innovation and design.

Gold is the second-highest of the four LEED certification levels. “As the design process progressed, we had an idea about how many points the Anderson Student Center would earn in each category,” Ryan explained. The university’s initial goal was silver. “As the building neared completion, we thought we’d be close to gold, but we could not be sure until we got the official word.”

(more…)

St. Thomas real estate analysis: June data show fifth-consecutive month of metro-area progress

Tuesday, July 24th, 2012

 Barring serious external shocks to the economy, the second half of 2012

will test the durability of gains found in the Twin Cities housing market.

 Minneapolis, Minn.  –   Arrows on the Twin Cities real estate chart pointed upward for the fifth consecutive month, according to the Residential Real Estate Price Report Index, a monthly analysis of the 13-county Twin Cities area prepared by the Shenehon Center for Real Estate at the University of St. Thomas’ Opus College of Business.

 “Twin Cities’ housing data for June continued to show encouraging signs for the fifth month in a row,” observed Herb Tousley, director of real estate programs at the university.

 Will the trend will continue?  “In 2011 the market was in a similar condition after a spring and early summer run-up, only to be derailed by a lack of confidence created by the federal debt-level-ceiling controversy, the U.S. government credit downgrade, and the emergence of financial problems in Europe,” Tousley said.

 “Barring any serious external shocks, the second half of 2012 will test the durability of gains made in the first half of the year,” he said. “Historically, sales volume and median prices have decreased in the second half of the year.

 “Will sales volumes and median prices continue to exceed last year’s levels? If the answer is yes, then it would appear the market has established the beginning of a sustained recovery,” he said. (more…)

St. Thomas real estate analysis: lower-priced homes are ‘flying off the shevles’ right now

Wednesday, May 23rd, 2012

April’s active market for single-family homes priced under $14o,000 is one of several positive signs for the Twin Cities’ real estate market.

While it’s not a term often used to describe the housing market, a University of St. Thomas real estate professor observed that “the market for single-family homes priced under $140,000 has become quite active. They are flying off the shelves right now,” said Herb Tousley, director of real estate programs at the university.

The finding was one of several signs of a healthier housing market that were outlined in the UST Residential Real Estate Index, a monthly analysis of the 13-county Twin Cities area prepared by the Shenehon Center for Real Estate at St. Thomas’ Opus College of Business.

Tousley said that new listings for the lower-priced homes are coming onto the market at a rate of about 1,100 per month and they are being sold at a rate of about 900 t0 1,000 per month.

“The number of homes on the market in this price range has steadily been declining since the beginning of the year,” he said. “Although many of these homes are foreclosures and short sales, there are several types of buyers, including first-time homeowners and investors, who are purchasing these properties at a fast clip.” (more…)

May 2012 Commercial Real Estate Survey: Pessimism in the Twin Cities Commercial Real Estate Market

Wednesday, May 16th, 2012

 

University of St. Thomas survey of Minnesota’s commercial real estate leaders reveals continued concerns about commercial real estate market conditions over the next two years.

 

According to the University of St. Thomas Opus College of Business’ fifth semiannual ‘Commercial Real Estate Survey,” Twin Cities industry leaders are somewhat more pessimistic about future commercial real estate market conditions two years from now. The survey polls 50 commercial real estate industry leaders representing development, finance and investment. It measures their expectations for the future of the market in seven different categories including vacancy rates, rental rate growth, land prices, building material prices, new project financing criteria, and rates of return. These are the people who are making decisions today that will affect future commercial real estate conditions.

 

The spring 2012 survey recorded its first composite score below 50, based on a 0-100 index, since the inception of the survey in 2010, indicating a more pessimistic view of the future commercial real estate market. Compared to the fall 2011 survey, the panel anticipates land values will continue to increase. There is also a strong expectation that the price of building materials will continue to rise over the next two years, shifting from a strongly negative 27.9 to a more negative reading of 26. Both of these factors make it more difficult to obtain financing and provide adequate returns for investors.

 

(more…)

UST to host NAIOP’s 9th University Challenge!

Thursday, April 5th, 2012

NAIOP University Challenge 2012 site

The University of St. Thomas will be hosting NAIOP’s 9th University Challenge, a competition across 5 universities where student teams act as development consultants for a potential redevelopment project.  This year the site is a 1.91 acre site at the intersection of University Ave and Washington Ave in the “heart” of the University of Minnesota’s campus.

Join us Thursday afternoon, April 12 at the University of St. Thomas Minneapolis campus as the teams, including: the University of St. Thomas, University of Minnesota, University of Wisconsin-Madison, Marquette University and University of Northern Iowa; present their project concepts with a reception at Brit’s pub immediately following.

(more…)