Archives for August 2016

Read this CARNM Commercial Source article by CARNM Member Virginia Gonzales CREM featured in the Albuquerque Journal’s HomeStyle Magazine.

Qualified professionals needed to maintain and increase value of investments.

By: Virginia Gonzales of Commercial Real Estate Management (HomeStyle Magazine by The Albuquerque Journal)

An article written by Phillip Moeller for US News & World Report on September 10, 2012, reported on the “kinds of jobs [that] will be most plentiful over the next eight years until 2020. The U.S. Bureau of Labor Statistics (BLS) projects that positions in healthcare, social assistance, construction, professional and business services will represent more than half of the 20.5 million new jobs it expects to be created by 2020.” 

We are right in the middle of the eight years noted in the U.S. News article that was quoted. The commercial property management professional and business sector is an area in high demand. There is great need for driven business professionals seeking a career in asset management. The position of property manager, assistant property manager, and facility maintenance coordinator are specific positions that require unique individuals with well-rounded skills: accounting, conflict resolution, administrative, managerial, organizational and computer skills, to name a few. 

With commercial construction at an all-time high, the need for qualified professionals is essential. Asset managers are the key to maintaining and increasing the value of the investment. However, not every asset manager is educated, skilled, and knowledgeable enough to serve a landlord’s investment portfolio to the maximum potential they deserve. The phrase “Jack of all trades, master of none” truly fits this career field. As licensed real estate brokers, your asset managers, and their support staff, must be a highly skilled and knowledgeable group of people. 

These educated professionals are found through the Institute of RealEstate Management (IREM). TheInstitute is under the organizational umbrella of the Commercial Association of REALTORS®. IREM “is an international community of real estate managers dedicated to ethical business practices, maximizing the value of investment real estate, and promoting superior management through education and information sharing” (www.irem.org).

In addition to IREM’s core values and vision, they offer a variety of membership and educational opportunities: Certified Property Manager (CPM), Accredited Residential Manager (ARM), Accredited Commercial Manager(ACoM) and Accredited ManagementOrganization (AMO). As an active member of the local New Mexico IREMChapter 46, I have benefited greatly through my participation via education, networking, and scholarships at the lo-cal and national level. 

As projected by the business and economic analysts, we are looking forward to a robust asset management market. Real property has always been a great long-term investment, so it stands to reason that asset/property managers are, and will be, in high demand for years to come.

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Mayor Richard Berry’s administration is free to start building the Albuquerque Rapid Transit (ART) project, following an order by the U.S. 10th Circuit Court of Appeals.

The 10th Circuit on Friday lifted an injunction that had barred the city or its contractors from tearing up the roadway and beginning work.
The timing is good for the city. The Berry administration had told the court that it wanted to authorize the general contractor, Bradbury Stamm, to begin construction next week, though it’s possible work might not actually start until Sept. 3rd.
One more potential hurdle remains: Congress has not yet granted final approval for a $69 million grant that’s necessary to pay for the project.
But the city says it does have federal approval to begin spending money to get started, with reimbursement to come later.
Jim Maddox of Albuquerque steps off a BYD bus he toured before a press conference announcing the selection of the company’s buses for the Albuquerque Rapid Transit (ART) at the Civic Plaza on Wednesday, July 13, 2016.
In a written statement, Berry said the project will promote redevelopment along a key city corridor.
“I am pleased that the Appeals Court has allowed construction to begin on this catalytic project,” the mayor said. “The design team and our community have worked diligently for years to ensure that ART is a world-class project that will bring opportunity for Central Avenue and the people of Albuquerque.”
The $119 million project would create a nine-mile network of bus-only lanes and bus stations in the middle of Central Avenue, between Louisiana and Coors.
Opponents argued in court that the Federal Transit Administration improperly exempted the project from a detailed environmental study and that the city misled the FTA in its application.
A federal district judge sided with the city and FTA about three weeks ago, and opponents immediately appealed to the 10th Circuit.
Friday’s order simply lifts a temporary injunction that prohibited the city from starting construction. The appeals court hasn’t yet ruled on the merits of the case itself.
It could still side with opponents and bring the project to a halt again.
But the decision issued Friday declared that opponents hadn’t met the burden necessary to stop the project while the appeal plays out.
Jean Bernstein, co-owner of Flying Star restaurants and a member of the coalition opposing the project, said the fight isn’t over, even if the city can begin construction.
“The 10th Circuit Court is still deliberating/considering (our) case,” she said in an email.
Mayor Berry has made the project a priority. He and other supporters say ART will provide fast, reliable mass-transit service in a crucial city corridor and encourage economic revitalization along what was once Route 66.
Central Avenue is filled with major employers and other important destinations, such as the University of New Mexico, they say.
As for the legal argument, the city and FTA contend they have followed the appropriate environmental laws. Almost all of the construction work, for example, will take place within the sidewalk-to-sidewalk boundaries of Central Avenue.
The new bus lanes would generally occupy the center of Central in what is now the median. To make room, there will be one lane fewer for general traffic in each direction throughout much of the corridor.
Opponents say the project will damage the car-friendly character of the old Route 66 and choke traffic, steering drivers – and potential customers – away from businesses and restaurants.
Berry and a bipartisan majority of city councilors support the project. It won approval on a 7-2 council vote earlier this year, with councilors Dan Lewis and Klarissa Peña in opposition.
A Fall Vote
Albuquerque Rapid Transit might make it on the Nov. 8 ballot after all.
Bernalillo County Commissioner Debbie O’Malley wants to ask county voters whether they think the project should be put to a vote in a future city election.
Got that? It’s a vote on whether to have a vote.
A tentative agenda item proposed for Tuesday’s meeting of the County Commission calls for adding this question to the Nov. 8 ballot: “Are you in favor of giving voters residing in the city of Albuquerque municipal limits the chance to vote in support of or opposition to the proposed Albuquerque Rapid Transit project?”
The city is preparing to launch construction, however, so the proposed question wouldn’t actually go before voters until about two months after work has started.
By: Dan McKay (Albuquerque Journal)
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