Archives for October 2014

Infographic: 2014 Commercial Real Estate Research
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For more information about these and other research reports produced by NAR, visit the Research Reports page.
For more information on commercial real estate, please visit REALTOR.org’s Commercial page.
By: National Association of REALTORS®
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As the master plan for Innovate ABQ takes shape, University of New Mexico president Bob Frank shared his thoughts on Thursday morning about what the center will look like and his vision for innovation in Albuquerque.
As the master plan for Innovate ABQ takes shape, University of New Mexico president Bob Frank shared his thoughts on Thursday morning about what the center will look like and his vision for innovation in Albuquerque.
At a UNM Economic Forum meeting, Frank outlined three primary components to his plan: Innovate ABQ, the Innovation Academy and shoring up STC.UNM’s portfolio companies. Each will expand the university’s footprint and its reach, he said.
“I wanted to create a research district that melds the university more than ever before to the community,” Frank said. “It’s not just researchers. It’s lawyers who want to be in that space. It’s investors. It’s students.”
But, he said, the Downtown area needs to develop along with the Innovate plan.
“Part of the problem we have with Downtown is it was designed mainly in the 1960s, and it’s car-friendly, not people-friendly,” Frank said. “BRT [Bus Rapid Transit] is important. We want to see the university move to the Downtown area, and we’ll see that happen. It’s only a mile, but it seems farther.”
“A warmer, friendlier, Downtown has a lot of bonuses for the university, anyway,” he added.
The design firm Perkins+Will is developing the master plan for the site and will have a preliminary outline of it in November. The final plan is due in January.
Frank showed images of the city’s neighborhoods from the university to Downtown, connected by public transportation.
The seven-acre Innovation ABQ site cost about $7.5 million, and Frank said the university isn’t planning on putting more money into Innovate.
“We’re going to partner with developers and see what happens,” he said.
But one thing is clear to Frank: Everyone needs to be included.
“We train scientists and artists, and we have to tie them together; that’s the heart of the Innovation Academy,” Frank said. “But when our faculty wants to develop a product, we need a place for that, and that’s STC.”
The Innnovate ABQ campus is the bullseye of the new Innovation District, Frank said, and the school will have to hire a manager soon to oversee the new research park that is being designed for it.
By: Dan Mayfield (Albuquerque Business First)
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Unmanned Aerial Vehicles (Drones)
Background
Given the current FAA prohibition, the National Association of REALTORS® recommends that its members not use this technology for any purpose related to selling property.
Technological advances have made it cost-effective to create dynamic marketing information for a listing by taking pictures and videos from drones, aka Unmanned Aerial Vehicles (UAVs).  UAVs provide a completely new and different perspective of the property and allow the agent to add value to the real estate transaction.  Real estate professionals are interested in using this new technology to film bird’s-eye-view videos and photograph tours of homes, land and commercial properties.  However, the current regulatory scheme governing these devices via the Federal Aviation Administration (FAA) prohibits any commercial use of UAVs.
October 17, 2014
NAR recently met with Federal Aviation Administration (FAA) officials to discuss NAR’s concerns and perspectives regarding the upcoming proposed rulemaking to regulate small Unmanned Aerial Vehicles (UAVs).   NAR encouraged the FAA to expedite this proposed rulemaking and quickly develop a regulatory framework for commercial use of UAV technology that addresses public safety and privacy concerns, but permits a commercial UAV industry to flourish and allows Realtors to safely use the technology if they choose to do so.  FAA officials stated that they were moving forward with the proposed rulemaking for publication in Nov., 2014, and are very interested in integrating this technology into the national airspace.
By: Russell W. Riggs, Stephanie A. Spear (National Association of REALTORS®)
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September 26, 2014
In June 2014, the Federal Aviation Administration (FAA) issued comments clarifying the permitted use of unmanned aerial vehicles (UAVs) for commercial purposes. Real estate was called out specifically as a prohibited use. NAR submitted comments in response to the FAA outlining the positives of permitting commercial use of UAVs in real estate.  NAR encouraged the FAA to quickly develop a regulatory framework for commercial use of UAV technology that addresses safety and privacy concerns, but permits a commercial UAV industry to flourish.
By: Russell W. Riggs, Stephanie A. Spear (National Association of REALTORS®)
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