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NAIOPWA Real Estate Challenge Announces Alexandria as 2021 Site Sponsor

NAIOPWA’s Real Estate Challenge Committee is proud to announce the 2021 Site Sponsor, Alexandria Real Estate Equities, Inc! The Real Estate Challenge is a development case competition in which students at three regional universities take on the role of developer. Each year, students focus on a different site and craft creative, innovative development proposals. Teams present their proposals to a panel of notable developers and investors, who adjudicate the winner of the Challenge and recipient of the coveted Bob Filley Cup.

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NAIOP Washington Introduces Sustainability Award at Night of the Stars 2020

What does it mean to go first? In celebration of NAIOPWA’s Night of the Stars inaugural “Sustainable Development of the Year” category, here is a closer look at the two nominees, each of whom elected to be on the front edge of sustainable real estate development. Read below to learn more about these two industry-leading endeavors.

What is the first thing many developers or investors think when they hear the words “sustainable” or “green” as their architects describe their building design? For decades the common perception has been that it is difficult (if not impossible) to make a deeply green building pencil financially. However, by definition “sustainability” is the nexus of environmental, social and economic progress. We interviewed key participants representing both Watershed and Inspire at the Russell W. Young Building to learn how they overcame perception to create these very special properties.

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Facing An Unprecedented Food Crisis, Farmer Frog Supports Local Communities and Agriculture Producers

NAIOP Washington State is proud to continue our partnership with Farmer Frog, one of this year’s Community Enhancement food drive beneficiaries.

Facing a new crisis, agricultural producers are receiving order and contract cancellations, as well as significantly lower demand for their crops. This has significantly halted the food supply chain. Farmer Frog purchases food from farmers at cost, collects donated items, gleans foods to share and distribute – even USDA provided boxes – all in large volumes, six days a week to over 410 community organizations.

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Mary's Place Keeps Children Fed, Families from Being Unhoused During COVID Crisis

Mary's Place believes that no one's child should sleep outside. They provide safe, inclusive shelter and services that support women, children and families on their journey out of homelessness. They keep families together and inside and, together with our community, provide housing and employment resources, safety, stability, and hope. Mary's Place is the leading provider of shelter and services for families in King County; they operate six emergency family shelters with over 500 beds for moms, dads, and kids; and a drop-in women's day center in downtown Seattle that welcomes in more than 100 women each day.

COVID has changed us all, and Mary's Place has had to adjust their programs and services to ensure that all of their guests and staff stay healthy. Supplies have dwindled, and their volunteer and in-kind donation programs are being re-imagined to become virtual. They are so grateful to their community who have come alongside them during this pandemic to provide protective equipment like masks and facial coverings, cleaning and medical supplies, food, and love!

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Central District Food Bank feeding 1000 people every week during COVID-19

2020 Community Enhancement Food Drive Supporting Byrd Barr, Farmer Frog and Mary's Place

Byrd Barr Place was born in the 1960’s from the recognition that the poor Black neighborhoods of Seattle were chronically under-served by existing services. Our founders within Seattle’s Black community, then based in the Central District, were guided by a vision of equal access to resources and a determination to take bold and transformative action. Our agency, then named the Central Area Motivation Program, was part of the first generation of community-inspired organizations funded by the Economic Opportunity Act. For more than 55 years, Byrd Barr Place has been a community leader and advocate in the fight against the effects of racism and segregation on the region’s African Americans. We continue to be instrumental in combating racial inequity and poverty throughout Seattle by providing an integrated array of basic needs and nutritional services, education resources and financial assistance.

 

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2020 NAIOPWA Summer Social Rock 'n' Roll Golf Tournament Highlights

Our much anticipated 2020 Summer Social gave the NAIOP community the much-needed chance to connect in person. With a wide range of COVID-specific guidelines, a socially-distanced version of the tournament allowed golfers to enjoy split tee times and a more relaxed pace of play in the breezy August heat. 

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NAIOPWA Member Profile: John Pietromonaco, Pietromonaco Jackson Properties

John Pietromonaco of Pietromonaco Jackson Properties has been a NAIOP Washington member for a very long time – 32 years, to be exact – and has enjoyed a distinguished career as a developer in the Puget Sound area. After serving as president in 1999 and spending 20+ years involved heavily in NAIOPWA’s annual Community Enhancement (CE) projects, Pietromonaco is a wellspring of NAIOP memories and institutional knowledge.  

A lot has changed since he joined in 1988, between technological advancement and market fluctuations. John says that “real estate is more complicated [now] than it was in the 70s-80s,” but that ultimately, the industry is very reliant on community and connection. “The only way to get the info you need is through contacts… I even talk to people who are competitors (friendly competitors). It makes the job easier than being a lone wolf and doing it from scratch.” 

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Inslee Delays State Building Code Effective Date to Nov 1 Due to COVID-19, NAIOP Advocacy Efforts

graphic with NAIOPWA logo and COVID 19 response in text on blue textured background

UPDATE [06/29/20]: After an emergency meeting of the State Building Code Council, the state code implementation effective date has now been pushed back to February 1, 2021.

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Exploring Real Estate and Race Through Education

“This isn’t just about programming for us. This is about a group of people called to action on something we are very passionate about, and we felt we had no choice but to do something.” – Serena Sayani, Diversity and Inclusion Co-Chair

In the moments, days and weeks since the death of George Floyd, many of our members have felt a similar call to action. Leading this charge for our organization is the Diversity and Inclusion committee. They have put together two events: A Candid Discussion about Racial Barriers in Commercial Real Estate, on June 30, and, in partnership with the Programs Committee, our July breakfast on Race and Real Estate, on July 15. Both panels are intended to shed light on the intersections between race and real estate through discussion of the history of real estate laws across the country, and to spark thoughtful dialogue with industry leaders on how to make positive changes to alleviate racial inequities in our communities and the built environment.

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NAIOPWA Advocacy Update: Expedited Voluntary Cleanup Program

Update & Summary for August 3, 2020: 
The WA Dept. of Ecology's new Expedited VCP, launched on July 1, 2020, is a self-sustaining process with dedicated staff to respond quickly to the needs of developers working under compressed schedules. The time to get through the expedited VCP could be as short as 4 months compared to 18 months (or more) under the regular VCP. The new program also allows moving sites in the regular VCP to the Expedited VCP as long as certain requirements are met.

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NAIOPWA Member Profile: McKenzie Darr, Development Manager, The Wolff Company

McKenzie Darr (The Wolff Company) is one of the current co-chairs of NAIOPWA's Real Estate Challenge Committee. In her capacity as a co-chair, she helped spearhead the 2020 Challenge, even as COVID-19 altered in-person presentation and competition judging. She has been recognized by her peers for her excellent leadership and dedication to the committee's educational efforts. We asked McKenzie about her work with Wolff, the REC Committee, and her love of live music.  

How would you describe your company’s primary work and scope?
The Wolff Company is a fully integrated real estate investment firm focused on multifamily investment and development. Since 2000, Wolff has invested in, acquired, or developed more than 150 multifamily assets and more than 35,000 multifamily units.
The Northwest Division based in Seattle is responsible for the investment and development of multifamily and senior housing communities in Washington, Oregon, Idaho, and Montana.

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NAIOPWA Celebrates Mother's Day with Interviews from Professional and Working Moms

In honor of Mother’s Day, we want to show our appreciation for the many working moms within our NAIOP chapter and for all the professional women that make our organization great. With 40% female representation on our board and steadily increasing female membership over the last decade, empowering the voices of women in commercial real estate committee rooms, leadership positions, and on event stages remains a top priority of NAIOPWA.

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NAIOPWA Member Profile: Ben Waiss, Development Manager, Tarragon Property Services

Ben Waiss (Tarragon) is one of the Co-Chairs for NAIOPWA's South Sound Committee. He has been recognized by his peers for his outstanding leadership and continued commitment to the committee's efforts. Ben joined NAIOP in 2014 after he began working for his current company. We spoke with Ben about his work with Tarragon, what he enjoys most about CRE, and what he does in his spare time. 

How would you describe your company’s primary work and scope?
Tarragon is a locally owned commercial real estate development company operating across multiple asset classes. The following are a few company highlights that have shaped my real estate “toolbox” and give me a unique perspective on the commercial real estate industry:
  • Hands on developer that provides services from feasibility thru lease up and stabilization
  • Portfolio developer that delivers highest quality assets designed to operate at a high level throughout the lifespan of the development
  • Long term outlook that allows us to accumulate and hold land in the portfolio until market conditions are optimal to construct a commercial asset

How long have you been with your company?
I have been with Tarragon for about 6 years. In a previous life I was a Civil Engineer.

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NAIOPWA Member Feature: Morgan Sly, Land Acquisition Associate, The Rush Companies

Morgan Sly (The Rush Companies) is a dedicated volunteer member of NAIOPWA's South Sound Committee. She's been with Rush since 2018 and has been an active NAIOPWA member since June of 2019. Her peers have recognized her for outstanding efforts in organizing unique and engaging events for the South Sound. We asked Morgan about her work in CRE, how she spends her time outside of her profession, and interesting tidbits about herself. 

NAIOPWA: What do you like best about your industry? 
Morgan Sly: My favorite part about working for Rush - a developer/builder is creating communities where people want to live and work. I enjoy identifying the next place where we believe future tenants or buyers will want to move to, through our projects we have the ability to add value to people’s day-to-day lives and that is exciting!

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SBA Loan Program Intended to Help Businesses Cover Rent Costs During COVID-19 Crisis Begins April 3

graphic with NAIOPWA logo and COVID 19 response in text on blue textured background

Beginning April 3, small businesses (fewer than 500 employees) are eligible for forgivable SBA loans under a provision in the CARES Act passed by Congress and signed into law to address the growing COVID-19 crisis. Primarily intended for businesses to retain employees during the crisis, certain provisions in the program would allow for borrowers to use some of the funds to cover monthly expenses like mortgage interest, rent, and utilities to help stay afloat. NAIOP has compiled a list of resources to help small businesses and other stakeholders navigate the program. 

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NAIOP Washington Seeks Expanded Construction Guidance Under COVID-19 EO; Memo from Inslee Regarding Mortgages

graphic with NAIOPWA logo and COVID 19 response in text on blue textured background

 

In response to Governor Jay Inslee's "Stay Home, Stay Healthy" Order, NAIOP Washington has called for expansions to construction guidance to include private-sector residential and commercial construction. Among the organization's concerns are the growing housing crisis in Seattle and the impacts of slowing development of housing in the area. The recommendation includes advocacy for strict personal protective equipment (PPE) requirements for job sites as well as preparedness plans for battling the COVID-19 risks.  

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Executive Order: Construction Guidance Released on Washington State's "Stay Home, Stay Safe" Order

NAIOP, along with AGC, requested clarification on Governor Inslee's recent “Stay Home, Stay Safe” executive order as it relates to construction activities. The newly released Construction Guidance Memo is online.

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Moved Online: April Sustainable Development Education Event

Closeup of mosses in a forest at left and text Energy Code Updates | Sustainable Development Breakfast April 2 7:30am at right

With target dates for code implementation changing quickly, this webinar is a must for NAIOPWA members. Our experts will cover the three new pieces of legislation upping the ante for energy efficiency throughout Washington state for both new construction and retrofits: the Seattle Energy Code, the Washington State Energy Code commercial section, and the state's new Energy Performance Standard for [Existing] Commercial Buildings.

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