Wednesday, October 27, 2010

Orlando economist David Marks proposes Green Community Urbanization Act to create sustainable communities


ORLANDO, Fla. --- Orlando economist David Marks (top right photo), president of Marketplace Advisors, Inc. and a nationally recognized expert on the development of urban town centers, hopes he can convince the Obama administration to take up his proposal to introduce the Green Community Urbanization Act to restructure the national economy and focus on the health of local communities.

Marks said he has presented some of his ideas to the Urban Land Institute, International Council of Shopping Centers and the Florida Planning and Zoning Association.

The Green Community Urbanization Act is based on Marks’ Sustainable Community of Tomorrow model (SCOT), an urban economic development and redevelopment model Marks has proposed for cities and municipalities throughout the U.S.

The vision is to develop a sustainable economy and society that better balances the needs of the individual, society and the environment.   The implementation of such a vision would be a major stimulus to economic growth as green building and community infrastructure is put in place.

By re-envisioning our economy and focusing on the health of our communities we can transform our society into more sustainable places that are better positioned to help themselves, reducing our growing dependence on government. 

 To create such a strong healthy society we need to develop communities that raise healthy individuals, families, and community based institutions.

Marks’ Green Community Urbanization Act proposal calls for construction and renovated of over two million green homes and more than 500 million square feet of green commercial space over the next 10 years.

Local investors and public-private partnerships would fund most of the development costs, and Marks, who is writing a book on the subject, hopes to interest the federal government in funding up to one-third of the cost from a tax on fossil fuel consumption.

“The Green Community Urbanization Act initiative could generate more than one million jobs nationwide,” Marks explained.

“More importantly, the Green Community Urbanization Act would change the course of urban development to focus on the health of our communities and the creation of sustainable environments and sustainable economies,” Marks said.

For more information, please contact:  
David Marks, Marketplace Advisors, Inc., 407-599-0007, dmarks@cfl.rr.com;  
Larry Vershel or Beth Payan, LV Communications, 407-644-4142   

U.S. Office Leasing Activity in Central Business Districts Up 31.6 Percent


 ORLANDO, FL-- Cushman & Wakefield released third quarter 2010 statistics for the U.S. office market that show leasing activity maket-wide in Orlando decreased 7.1% year-over-year, ending the third quarter at 1.5 million square feet, compared to 1.6 million at the end of the third quarter of 2009.

 Year-to-date leasing activity for U.S. central business districts (CBDs) totaled 45.5 million square feet at the end of the third quarter of 2010, a 31.6 percent increase in activity from the 34.6 million square feet leased at this time last year. 

Of the 31 CBDs tracked by Cushman & Wakefield, 18 saw year-over-year increases in leasing activity.

 The rise in leasing activity led to declines in vacancy in most markets.  After reaching a high of 15.0 percent at the end of first quarter of 2010, the overall U.S. CBD vacancy rate continued its decline for the second consecutive quarter, ending the third quarter at 14.7 percent, down from 14.8 percent at midyear 2010. 

 The overall vacancy rate for Orlando decreased to 18.8 percent at the end of the third quarter of 2010, down from 20.0 percent at the end of the second quarter.

 The overall rental rate for U.S. CBDs remained unchanged quarter-over-quarter.  Rental rates for Orlando fell during the third quarter to $24.11 per square foot, down $0.08 from $24.19 at midyear 2010.

 The year-to-date absorption rate, a measure which indicates the net change in occupied space, was negative 1.25 million square feet at the end of the third quarter, a 96 percent increase in absorption from the negative 32.1 million square feet at the end of the third quarter of 2009.

 Orlando’s absorption rate was negative 25,406 square feet at the end of the third quarter, compared to negative 152,537 at this time last year.

 Contact: Brook Hines, Tel: 407-541-4401, brook.hines@cushwake.com

U.S. overall industrial vacancy remains unchanged at 10.6 percent


ORLANDO, FL – Cushman & Wakefield today released third quarter statistics for the U.S. industrial market that show the vacancy rate in Orlando at 14.6 percent at the end of the third quarter, unchanged from midyear 2010. 

The overall U.S. industrial vacancy rate remained unchanged from midyear, ending the third quarter at 10.6 percent, after peaking at 10.8 percent at the end of the first quarter of this year.

 Year-to-date leasing activity for the U.S. industrial market totaled 189.8 million square feet at the end of the third quarter of 2010, an 11.9 percent increase in activity from the 169.5 million square feet leased at this time last year.  Leasing activity in Orlando decreased to 2.2 million square feet, compared to 2.4 million at the end of the third quarter of 2009.

 The year-to-date overall absorption rate, a measure which indicates the net change in occupied space, was negative 6.2 million square feet at the end of the third quarter, a 94.7 percent increase in absorption from the negative 118.5 million square feet at the end of the third quarter of 2009.  Orlando’s absorption rate was negative 618,958 square feet at the end of the third quarter, compared to negative 1.5 million at this time last year.

 “While the overall vacancy rate remains unchanged, we are fairly confident that it has hit its peak,” said Jim Dieter (top right photo), executive vice president of Cushman & Wakefield’s Industrial Services.

  “With continued improvements in leasing activity, we should start to see some downward movement in the overall vacancy rate through the end of the year.”

 Industrial construction remained at historical lows in the third quarter of 2010.  Year-to-date product completions totaled 12.3 million square feet, down 77.9 percent from the 55.8 million square feet completed at this time last year. 

 “With nearly 14 million square feet expected to be completed through the remainder of the year, 2010 is on track to see the most limited amount of new construction added to the market since Cushman & Wakefield began tracking the market,” said Maria Sicola (middle right photo), executive managing director and head of Americas Research for Cushman & Wakefield. 

Contact: Brook Hines, Tel: 407-541-4401, brook.hines@cushwake.com, http://www.cushwake.com/


MBA Honors MortgageAmerica Co-Founder John Johnson with the 2010 Andrew D. Woodward Distinguished Service Award

  
ATLANTA, GA--- The Mortgage Bankers Association (MBA) awarded John Johnson, CMB, President & Chief Executive officer of MortgageAmerica, with the Andrew D. Woodward Distinguished Service Award at the Association's 97th Annual Convention and Expo held in Atlanta. 

The award was given to Johnson in recognition of his dedication and prominent service to MBA and the mortgage lending industry. 

 "John Johnson represents the best of our industry," said MBA Chairman Michael D. Berman, CMB.  "In good times and bad, John has lived up to his company's motto of 'outrageous service' to his customers and his fellow MBA members."

Nominees for the annual award must be associated with an MBA member firm, have a record of sustained and extraordinary service to MBA and the mortgage industry, and have a strong reputation for ethical and professional conduct.

 Johnson founded MortgageAmerica in 1978 with his good friend and mentor, Dr. Harry L. Phillips.  Headquartered in Birmingham, AL, MortgageAmerica has offices throughout the Yellowhammer State as well as branches in Florida, Georgia and Tennessee.

 In addition, Johnson is a member of MBA's Residential/Single-Family Board of Governors (RESBOG). He also serves as a member of MBA's Council on Ensuring Mortgage Liquidity, a task force of association members that examines policy options and issue recommendations for the future of the secondary mortgage market.

 The award is named in honor of Andrew D. Woodward, an industry friend, colleague and leader who passed away in 2008.  Among other activities in his long and distinguished career, Woodward was instrumental in developing MBA's Council to Shape Change report, which was released in August 2006.

Contact:
John Mechem, (202) 557-2924, jmechem@mortgagebankers.org
Melissa Key,  (202) 557-2799, mkey@mortgagebankers.org

MBA Elects 2011 Board of Directors


 ATLANTA, GA - The Mortgage Bankers Association (MBA)  elected its Board of Directors for the 2011 membership year at MBA's 97th Annual Convention & Expo in Atlanta.

The Board of Directors will be chaired by Michael D. Berman (top right photo), CMB, President and Chief Executive Officer of CWCapital, Needham, MA.

 MBA's Board of Directors consists of 21 elected members and one ex-officio member, MBA President and Chief Executive Officer John A. Courson (middle left photo).

 Four are from the Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG), four are from the Residential/Single-Family Board of Governors (RESBOG), one is the Chairman of MORPAC, four are MBA Officers, four are members at large, three are associate members and one represents State and Local mortgage banker associations.

 The Board of Directors sets the strategic direction for MBA and also manages the affairs of the association, including developing association-wide policies and approving the budget.

 The newly elected members of MBA's Board of Directors are:

Jack M. Cohen, CMB, Cohen Financial (middle right photo) 
Dan Crockett, Franklin American Mortgage Company
John V. Konyk, Weiner Brodsky Sidman Kider PC
William J. Krochalis, Sterling National Corporation
J. David Motley, CMB, Colonial National Mortgage
Edward Padilla, CMB, NorthMarq Capital LLC
Joseph R. Reppert, CoreLogic
Brian F. Stoffers, CMB, CBRE Capital Markets
G. Todd White, CMB, Arvest Mortgage Company
Marsha L. Williams Esq., Middleberg Riddle & Gianna/MRG Document Technologies

Members remaining on the Board of Directors are:

Gary Acosta, Prado Mortgage
Michael D. Berman, CMB, CWCapital
E.J. Burke, KeyBank Real Estate Capital
Garry Cipponeri, Chase
William Cosgrove, CMB, Union National Mortgage Co.
John A. Courson, Mortgage Bankers Association
Henry V. Cunningham, Jr., CMB, Cunningham & Company
Tari L. Flannery, CMB, M&T Realty Capital Corp.
Rodrigo Lopez, CMB, Amerisphere Multifamily Finance LLC
Debra W. Still, CMB, Pulte Mortgage LLC
Robert E. Story, Jr., CMB, Seattle Financial Group (lower left photo)
Michael W. Young, Cenlar FSB

Contact:
John Mechem , (202) 557-2924, jmechem@mortgagebankers.org
 Melissa Key, (202) 557-2799, mkey@mortgagebankers.org