Tuesday, April 17, 2012
Real Estate News
On March 14-16, twenty-five students from the Real Estate Club (and Club adviser Sharon McCabe) headed east to tour the Boston market. The trip started with a networking event at The Hampshire House (you may know it as the Cheers bar) on Wednesday night, where students were able to interact with local area alums in addition to those in town for the PREA conference. We were also able to host some prospective students that lived in the area.
Thursday morning started with meetings at Jones Lang LaSalle and the Boston Redevelopment Authority, providing students with an overview of the Boston market. We then moved on to a property tour of One Federal, a Class A office building undergoing a $19M renovation, which was organized by alum Brian Berry. Afterwards, students lunched at the historic Faneuil Hall/Quincy Market before heading off by bus to East Cambridge.
Peter Calkins of Forest City walked us through his company's collaboration with MIT in developing a unique mixed-use research park serving the city's life science industry. From there, the bus tour continued throughout the city, viewing new developments as they made their into the Seaport district. Alum Jake Maliel set up a tour of One Marina Park Dr. with CBRE, a newly completed building overlooking the Boston harbor. We learned about the area's goal to become the 'Innovation District,' highlighted by Vertex's 1.1M square foot lease signed in the area last year. After finishing the tour, the group met local alums for a seafood dinner at Legal Sea Foods -a Boston institution.
Friday morning started right where we left off, touring the Liberty Hotel. This unique redevelopment project was completed in 2007, after serving nearly 150 years as a Suffolk County jail. Students then got on 'The T' to tour the newly renovated Isabella Stewart Gardner Museum. Alum Paul Gilbert, an overseer of the Museum, organized the tour of the $100M+ expansion, discussing in detail the design and financing of the new building.
The trip proved to be a great success, and many students were able to stay in town for the weekend's St. Patrick's Day festivities. Many thanks to Jill Hatton and Bob Schneiders for being intimately involved in the planning process, in addition to alums Kevin Wall, Peter Tedesco, Bruce Guenther, Jeff Herscott, Laura Miller, and Jason Rothenberg and Graaskamp Executive Director Mike Brennan for attending the week's events.