Rutgers Business School Center for Real Estate Draws Hundreds as New Jersey’s Most Prominent Industry Leaders and Elected Officials Convene at “New Urbanism” Conference
Newark, N.J. – Rutgers Business School Center for Real Estate, a rising innovative academic program positioned to transform the next generation of real estate leaders, brought together New Jersey elected officials and some of the real estate industry’s most prominent figures to openly collaborate on some of the challenges and opportunities facing development in the Garden State at the “New Urbanism” Conference on Friday, May 1st.
More than 225 attended this confluence of the state’s most prominent industry leaders and elected officials at the Short Hills Hilton, in New Jersey, for the Center’s first conference. The program opened with remarks from New Jersey real estate titans and Rutgers Center for Real Estate Co-Chairs James E. Hanson II, President and CEO of The Hampshire Companies, and Carl Goldberg, Founder of Canoe Brook Associates and co-founder of Roseland Property Co. Both Hanson and Goldberg shared their vision to make the Center the nation’s leading academic institution for real estate through innovative curriculum and a diverse and robust advisory board which includes many of the top names in the industry.
The Center’s first keynote speech was delivered to an audience of real estate students and the industry’s elite by Academic Director and Paul V. Profeta Chair, Morris A. Davis, on the Changing Face of New Jersey. The speech centered on the cultural and socio-economic changes that are molding the future of real estate development in New Jersey.
“New Jersey has had below average population growth, but is becoming younger and more diverse relative to the rest of the United States,” Davis said. “We are attracting highly educated, highly compensated workers to the state, like our existing workforce. Despite New Jersey having a relatively slow population growth, the parts of the state that have easy access to New York City are rapidly increasing. In these areas, new residents pay much higher rents than existing residents.”
A panel discussion on The Newark Renaissance was moderated by Christopher Paladino, President of DEVCO and Rutgers Center for Real Estate Executive Committee Member, and featured panelists Wasseem Boraie, Vice President, Boraie Development LLC., Nancy Cantor, Chancellor of Rutgers University – Newark, Jonathan Cortell, developer of the Hahne’s Project for L&M Development Partners, and Ommeed Sathe, Director of Social Investments Community Resources for Prudential Insurance Company.
“When we turn Newark into Brooklyn, we will do it in a way that shows the world that you don’t have to push out whole neighborhoods or long-time residents to make it work,” said Cantor, who was upbeat about Newark’s public and private partnerships as a catalyst for the city’s transformation. “What people forget about Newark is that we have every asset we need to grow into something special.”
A panel discussion on the Hudson County Gold Coast was moderated by Goldberg and featured panelists Mayor Steven Fulop of Jersey City, Mayor Richard Turner of Weehawken, Andrew Marshall, Executive Vice President of Development at Roseland and Eugene T. Paolino Esq., Partner at Genova Burns, LLC and member of the Commercial Real Estate & Redevelopment Law Practice Group.
“Jersey City is in the midst of a renaissance, and we are working to make it the best mid-sized city in the country,” Mayor Fulop said. “We are proving that you can put into place policies that are socially conscious while also partnering with the private sector.”
The final keynote speech was delivered by New Jersey Department of transportation Commissioner Jamie Fox. Fox’s speech focused on Mass Transit, Urban Redevelopment and Infrastructure Challenges Facing New Jersey. Fox utilized his time in front of many of the major players responsible for shaping the state’s development to address pressing matters of significant importance to residents of New Jersey, like the nearly bankrupt Transportation Trust Fund.
“When you have 300 bridges in New Jersey that are structurally deficient, then you have a real problem,” said Fox. “Something is going to have to be done in order for us to move into the next century. I need to find 41 and 21 votes in the legislature to find money to invest in our infrastructure. If it was easy, it would have been done a long time ago.”
“What will set us apart from other academic real estate programs will be our ability to innovate upon the stagnant and outdated tools and methods that have been the status-quo in real estate education for far too long,” said Davis. “The success that we achieved at our New Urbanism conference is a testament to the industry support that we have created for a program that aims to excite and inspire our students. We want our students to master the real estate curriculum, but to also be exposed to the process, the planning and the people that can teach them to transform entire cities and shape the lives of the people who live in them. That is how we will create the next generation of industry leaders at the Center for Real Estate.”
To learn more about the Center for Real Estate at Rutgers Business School and upcoming events visit www.business.rutgers.edu/cres.
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