|
|
|
|
|
Dear Friends,
We at the Ziman Center are deeply engaged in meeting some of the challenges of our times. We have launched groundbreaking training, curriculum and research efforts aimed at addressing issues of housing affordability and influencing local policy. Last summer, we held the latest in an ongoing series of academic conferences focused on new academic thinking and analysis of housing affordability and sustainability.
We also just graduated our fifth class in the Levine Affordable Housing Development program, which provides comprehensive practical training for early-stage professionals in developing housing for low-to-moderate income individuals and families and those experiencing homelessness. We complement that program with an MBA course on affordable housing development and in a current project to evaluate and help streamline the approvals process of affordable units in Los Angeles. We also collaborate with the Federal Reserve System in a joint academic conference designed to bring forward new research on topics of monetary policy, the interest rate and regulatory environment, and real estate and real estate finance outcomes. We also just graduated our fifth class in the Levine Affordable Housing Development program, which provides comprehensive practical training for early-stage professionals in developing housing for low-to-moderate income individuals and families and those experiencing homelessness. We complement that program with an MBA course on affordable housing development and in a current project to evaluate and help streamline the approvals process of affordable units in Los Angeles. We also collaborate with the Federal Reserve System in a joint academic conference designed to bring forward new research on topics of monetary policy, the interest rate and regulatory environment, and real estate and real estate finance outcomes.
We invite you to read about these and our other activities in this fall edition of Intervals.
With gratitude for your involvement and support of our efforts to advance the Ziman Center’s mission of research, teaching and service,
| |
 Stuart Gabriel Director  Tim Kawahara Executive Director
| |
Bruins Excel in Local and National Real Estate Case Competitions
With UCLA Anderson’s 2022 victory, our students have won the NAIOP SoCal UCLA vs. USC Real Estate Challenge three years in a row, and have pulled ahead in total wins, 13 to 12. The UCLA team proposed Toro Gardens, a mixed-use development, consisting of 205,000 square feet of life science and 268 units of student housing that will bring more than 600 high-quality jobs to Carson residents and much needed off-campus housing to California State University, Dominguez Hills (CSUDH). On the national front, a team of UCLA Anderson students placed third at the UT Austin National Real Estate Challenge, held annually at the McCombs School of Business. Over 20 top business schools competed in this highly competitive invitation-only competition. The UCLA team role-played as an investment team for a real estate private equity fund’s year-end strategy meeting, where they evaluated the existing portfolio and investment opportunity against the current macro environment. The investment opportunity was to provide growth capital to a mid-stage operating company specializing in the single-family homes for rent sector.
| |
|  | NAIOP team (left to right): UCLA Anderson Professor Paul Habibi, Sam Baughman (’23), Franco Mellone (’23), Nick Fong (’23), Eli Wilson (’23), Brad Schierhorn (’23)
| |  | UT Austin team (left to right): Christopher Davies (’24), Alan Grynberg (’24), Briana Rayhuan (’24), Robert Schrader (’24), Yasmeen Pasierb (’24), Andrés Giovanni Lincón (’23)
| |
| | |
|
Endowment Circle Inaugural Retreat Energizes Alumni DonorsIn October, leading REAG Endowment Circle members traveled up the mountains above San Bernardino to gather at the UCLA Lake Arrowhead Lodge for an inaugural overnight retreat. Lisa Picard, former CEO of Equity Office, delivered an inspiring keynote address focused on the future of the workplace and leadership from a human behavior perspective. The group also discussed its strategic agenda for the next five years. The retreat was a huge success and will become an annual event.
| |
|
Levine Affordable Housing Development Program Year 5 Cohort Graduates
The Ziman Center conducted its fifth annual offering of the Levine Affordable Housing Development Program (LAHDP). The highly selective program provides students with a comprehensive curriculum on the unique challenges of building affordable housing projects. Altogether since 2018, the LAHDP has enhanced the individual careers of 179 cohorts and helped build capacity of their 60 organizations. This year’s program saw the number of professional instructors double, and six expert panels were added to the curriculum.
| |
|
| Tel Aviv Conference on Low-Income Housing Supply and Housing Affordability
The UCLA Ziman Center, together with ESCP European Business School Barcelona and the Alrov Institute for Real Estate Research at Tel Aviv University, co-organized an academic conference focused on sustainability research and pressing issues of housing affordability. Hosted this year in Tel Aviv, where topics included tenants’ rights, secondary housing markets, and how appraisers’ and borrowers’ race affect real estate valuation, it is the second in a series that will continue with conferences the University of Wisconsin in 2023 and at UCLA in 2024.
| |
| Patterns of Corporate Home-Buying
By studying the patterns of corporate ownership of single-family homes (SFH) in California’s San Joaquin Valley, UCLA Center for Neighborhood Knowledge director Paul Ong and fellow researchers found that the escalating investor-ownership and consolidation of SFH makes home ownership increasingly out of reach for disadvantaged renters in that region — particularly in communities of color. At least 5% of SFH rentals are owned by landlords who possess more than 25 SFH each, though this doesn’t even account for the share of SFH held by large corporate investors who operate through a network of affiliated legal entities. Read the July 2022 UCLA Economic Letter.
| |
|
New Tech Hubs and Gentrification
UCLA Economics graduate Benjamin Freyd (Ph.D. ’22) analyzes how the opening of major tech offices affects neighborhood house price increases across the U.S. Freyd reports that an influx of well-paid workers can abruptly change a neighborhood, reinforcing what he calls “geographical income segregation.” When lower-income renters get priced out of the place they call home, they may have to move somewhere with worse economic opportunities — making even a more affordable neighborhood too expensive. Read the August 2022 UCLA Economic Letter.
| |
| | 2022–23 RESEARCH GRANT RECIPIENTS
| |
|  | Kenton Card
Ph.D. Candidate
Urban Planning
| |  | Keith Chen
Professor
Behavioral Economics
| |  | Dana Cuff
Professor
Architecture
| |  | Malena de la Fuente
Ph.D. Candidate
Behavioral Decision Making
| |
| | |
|  | Seungyub Han
Ph.D. Candidate
Economics
| |  | Edward Kim
Ph.D. Candidate
Finance
| |  | Shohini Kundu
Assistant Professor
Finance
| |  | Adam Lubitz
Ph.D. Candidate
Architecture
| |
| | |
|  | Paul Ong
Research Professor
Urban Planning
| |  | Will Rafey
Assistant Professor
Economics
| |  | Gregor Schubert
Assistant Professor
Finance
| |  | Emily Weisburst
Assistant Professor
Public Policy
| |
| | |
|  | Yilin Zhuo
Ph.D. Candidate
Behavioral Decision Making
| |
| | |
| 
UCLA Football Season in Ziman Center’s Rose Bowl Stadium Suite
The Ziman Center hosted a mix of board members, donors, alumni, faculty, students and special guests at the Ziman Suite in the Rose Bowl Stadium for this UCLA Football season. We would like to thank all who attended and we hope that you enjoyed the fellowship and exciting football.
| | 
Students Meet the Owner of L.A. Landmark Pink’s Hot Dogs
Ziman Center board member Richard Pink, second-generation co-owner of the 83-year-old Pink's Hot Dogs, hosted a group of Bruin Real Estate Association students at the legendary Hollywood restaurant. The students learned about the history of one of L.A.’s most iconic eateries, the acquisition and asset management of the current site, and the designation of the corner of La Brea and Melrose as Pink’s Square by the City of Los Angeles.
| |
| | |
Planning an Authentic Los Angeles: SoFi Stadium
As part of Embracing Diversity Week at UCLA Anderson, the Ziman Center, in conjunction with the Anderson Real Estate Association, presented a program on SoFi Stadium’s impact on the city of Inglewood and the surrounding community. Gerard McCallum, senior project manager at Wilson Meany, and Ziman’s Tim Kawahara discussed the complexities of planning and cultivating a mega project that is not only an entertainment venue, but also inclusive of and authentic to the community surrounding it — including the adjacent mixed-use development and Intuit Dome.
| |
What’s Next in Affordable Housing Policy and Development?
The Ziman Center’s Levine Program on Housing and Social Responsibility and Levine Affordable Housing Development Program hosted an evening of important conversations about affordable housing policy and development. Jennifer LeSar (LeSar Development Consultants) moderated a discussion about emerging funding sources with Cecile Chalifour (JPMorgan Chase), Jenny Scanlin (Housing Authority of the City of Los Angeles) and Sean Spear (Community HousingWorks). Jenna Hornstock (Southern California Association of Governments) moderated a discussion about the future of the field and major policy outlook with Tiena Johnson Hall (CalHFA), Ann Sewill (City of Los Angeles Housing Department), Mark Stivers (California Housing Partnership) and Marina Wiant (California Housing Consortium).
| |
2022–23 Kicked Off with Live Programming and Events
The start of the academic year marked a significant return to in-person Ziman Center events. A sampling of the well-attended gatherings we hosted and supported:
• RELA D48 with Salvador LaViña (Partner, Barnes & Thornburg LLP), September 22
• AREA’s “Real Estate 101 – History of Los Angeles,” September 27
• Alliance for Latinx Management at Anderson’s “History of Los Angeles’ Development: Chicano/Hispanic Influence,” October 3
• Valley Industry & Commerce Association’s Business Forecast Conference Housing Panel, October 21
• SCANPH Annual Conference’s Housing-Based Care Management Panel, October 28
• REAG UCLA Football vs. Stanford Tailgate, October 29
• Real Estate and Urban Economics Seminar, “Racial Disparities in Housing Returns,” presented by Amir Kermani (University of California, Berkeley), November 1
• REAG and AREA Habitat for Humanity Build Day, November 5
• Ziman Center Fall Kickoff Mixer, November 8
| |
|
“I’m not sure if we can look back at history to find a predicting model for managing through the world’s current set of issues. The combination of volatile domestic and global financial markets, unsettled geopolitics and dysfunction in Washington and Sacramento is unprecedented. Now, more than ever, is a time for vigilance and constant assessment.”
Richard S. Ziman
Founder, UCLA Ziman Center for Real Estate, and
Co-Founder and Chairman, Rexford Industrial Realty
| |
| December 1, 2022 @ 10:30 a.m. (in-person, by invitation only)
UCLA Ziman Center Fall Board Meeting and Luncheon
UCLA Luskin Conference Center
December 2, 2022 @ 12:00 p.m. (Zoom, by invitation only)
UCLA Ziman Affordable Housing Advisory Council Fall Board Meeting
January 24, 2023 @ 11:30 a.m. (webinar)
UCLA Ziman Center, UCLA Center for Neighborhood Knowledge and UCLA Institute of Transportation Studies present:
“UCLA Housing, Neighborhood and Health Seminar Series: The Spatial Dilemma of Sustainable Transportation and Just Affordable Housing”
Register
January 26, 2023 @ 11:30 a.m. (webinar)
UCLA Distinguished Speaker Series in Affordable Housing presents:
Heather Averick, Director of Supportive Housing, Affirmed Housing
February 2, 2023 @ 5:30 p.m. (in-person)
Bruin Real Estate Association Annual Industry Night
James West Alumni Association, Founder’s Room
March 2023 @ 5:30 p.m. (in-person, date and location TBD)
Anderson Real Estate Association Annual Industry Night
May 11–12, 2023 (in-person, by invitation only)
UCLA Ziman Center, Federal Reserve Bank of San Francisco and Board of Governors of the Federal Reserve System present:
“2022 Conference on Housing, Financial Markets and Monetary Policy”
UCLA Anderson School of Management, Grand Salon
| |
| Follow Ziman Center on Social Media
| |
110 Westwood Plaza, Gold Hall, Suite B100
Los Angeles, CA 90095-1481
(310) 206-9424
| |
|
|
|
|
|
|
