Dustin C. Read

Does Sector Matter? An Analysis of Planners’ Attitudes Regarding Politics and Competing Interests in the Planning Process

Both communicative planning theory and competing values models of public administration suggest attitudinal differences should exist between planners employed by private firms and those employed by government entities to the extent the perceptions of the former group are influenced by market forces to a greater degree than the latter. To test this, nine ordinal regression models were estimated using data collected from a national survey of 1,299 American Planning Association (APA) members. Planners employed in the public sector were found to be consistently more optimistic than private sector planners about government’s ability to manage political pressures and competing interests in the planning process. The results not only underscore the importance of existing planning and public administration theory but also offer a starting point to consider how sectoral differences in planners’ attitudes may influence outsourcing arrangements, public–private partnerships and other forms of cross-sector collaboration.

Land Aggregation Using Contingent and Guaranteed Payments

This article explores the use of alternative payment mechanisms to overcome the holdout problem when multiple parcels of land must be acquired to complete a real-estate development project. Purchase offers contingent upon successful land aggregation are compared to combination offers containing both guaranteed and contingent payments to determine which approach better mitigates holdout. The distribution of gains between developers and landowners is also examined. The results of a series of economic experiments suggest that contingent offers expedite land aggregation but developer payoffs are higher when combination offers are used. The results offer insight to real-estate developers participating in land aggregation and inform government entities considering the necessity of public-sector intervention in real-estate markets to encourage desired development projects.

Working effectively with asset managers and institutional groups

Purpose – The purpose of this paper is to examine how property management firms are responding to the demands of asset managers and institutional real estate owners to address potential sources of conflict related to fee structures, reporting requirements and incongruent managerial philosophies. Design/methodology/approach – Interviews conducted with executives representing 25 of the largest apartment management firms in the USA are used to complete the analysis. Findings – Many of the apartment management firms represented in the sample are embracing incentive-based fee structures and a la carte service offerings as a means of aligning their interests with those of the asset managers and institutional clients they represent. A number of these firms are additionally incorporating new technologies and training procedures into their operating platforms to facilitate customization and responsiveness throughout the reporting process. Respondents also noted their firms are becoming more selective about who they work with and more willing to walk away from business opportunities when managerial philosophies conflicts. Research limitations/implications – The characteristics of the population from which the sample is drawn limit the generalizability of the results to large property management firms operating in the multifamily housing industry. Nonetheless, the best practices put forth by those participating in the study are anticipated to have relevance to a wide variety of real estate practitioners. Practical implications – The analysis links theory to practice by considering how apartment managers are evolving in response to the institutionalization of the multifamily housing industry. Originality/value – This paper is the first to the authors’ knowledge to examine apartment managers’ perceptions about the challenges associated with representing institutional clients.

Analyzing the Perceived Benefits of LEED-Certified and Energy Star–Certified Buildings in the Realm of Local Economic Development:

Data collected from a national survey of economic development professionals are used in this study to examine the perceived role of Leadership in Energy and Environmental Design–certified and Energy Star–certified buildings in the business recruitment process. A series of ordinal logistic regression models are estimated to examine economic developers’ attitudes toward these buildings after controlling for their personal characteristics and the characteristics of the communities where they work. The results suggest less favorable perceptions about this form of sustainable real estate development in smaller communities and those with weaker economic fundamentals. Furthermore, women employed in economic development are found to have more favorable attitudes toward these buildings than their male counterparts. Increasing support for sustainable real estate development among economic developers working in local government may therefore require a combination of thoughtful policy making, executive education, and greater gender diversity in the profession.

Strategic business development and client prospecting in the third-party apartment management industry

Intensifying competition and increasing market demands are forcing many third-party apartment management firms to re-evaluate their approach to business development and client prospecting. In some instances, these companies are becoming more selective about both the assignments they take on and the property owners with whom they work. Careful consideration is frequently given to a number of factors to determine if new business opportunities are a good strategic fit. This paper examines how sophisticated fee management firms make such determinations by examining the perspectives of executives representing 25 of the largest multifamily operators in the United States. The results indicate heavy reliance on relational approaches to business development, limited long-range planning, and informal channels of communication often encourage fee managers to pursue new business in an ad hoc manner despite market conditions favouring more systematic behaviour. A series of best practices are put forth to address these concerns.

Local Politics, Organized Interests, and Land-Use Policy A Research Note Analyzing the Perceptions of Urban Planners Working in City Government

This research note examines the influence of organized interests in the land-use policy-making process from the perspective of urban planners employed in city government. Perceptions of these professionals are evaluated using a series of regression models controlling for the mitigating effects of government structure, mayoral partisanship, community characteristics, and the personal attributes of the respondents participating in the research. The results suggest that the aggregate influence of organized interests is more pronounced in cities with mayors when compared with cities with council–manager government structures. Furthermore, there is some evidence that the presence of a partisan mayor can increase the aggregate influence of organized interests, as well as mitigate the amount of influence garnered by specific groups. These findings contribute to the study of urban development by offering new insight into the relationship between local politics, organized interests, and land-use policy.

Toward Understanding Another Gender Gap: How Women in Economic Development Perceive Access to Capital

ABSTRACT This study uses survey data collected from members of the International Economic Development Council (IEDC) to assess gender differences in the perceptions of female economic developers involved in the policy process. The analysis reveals women are more likely than their male counterparts to believe access to capital serves as a barrier to economic development in the communities they serve. This finding is important because bureaucratic perceptions are anticipated to have a gendered dimension, because there is ample evidence that women-owned businesses less frequently obtain external financing than do those owned by men. This obstacle to growing a business may therefore resonate more strongly with female economic developers if their perceptions reflect experiences and socialization processes shared with the women they represent. Results of an ordinal logistic regression model support this contention and contribute to the study of economic development and the role of women in the policy process.

Book Review: Building Together: Case Studies in Participatory Planning and Community Building

the world, a suburban dichotomy arises with the insertion of suburban poverty in an otherwise prosperous periphery. In other parts of the world, the opposite happens as more affluent populations migrate to the much poorer outskirts. Either way, what the chapters in these books highlight is the splintered nature of global suburbanization. To conclude, I highly recommend these books to scholars and students seeking to understand more about processes of suburbanization in a global context. Deeper still, reading these books on global suburban transformations leads to a more nuanced understanding of the urban, and helps decipher motives for the emergence of landscapes of sociospatial differentiation in different parts of the world. There are many excellent and insightful chapters I did not refer to in this review (e.g., the discussion around the relationships between immigrant identity and the banlieues in Paris, the evolution of suburbs in Johannesburg, and governance issues in new suburbs in Africa). There is much more to explore, and I would advise anyone interested in understanding suburban processes in a global context to read these books.

Making places and making tradeoffs: mixed-income housing development in practice

Purpose The purpose of this paper is to examine the development of the Brightwalk community in Charlotte, North Carolina, to explore some of the tradeoffs municipalities make when engaging in public–private partnerships designed to support the production of mixed-income housing in urban neighborhoods. Design/methodology/approach The results of a gray literature review and a series of in-depth interviews conducted with real estate practitioners familiar with the transaction are presented to evaluate the impact of market forces on key investment decisions and project outcomes. Findings Public–private partnerships formed to support mixed-income housing development can serve as an effective means of revitalizing economically stagnant urban areas and improving the quality of the affordable housing stock, but they do not always provide members of the development team with an equally strong incentive to satisfy the unique demands of low-income populations or ensure they have a seat at the table when development decisions are made. Originality/value The originality of the research lies in its focus on a public–private partnership led by a non-profit organization to facilitate the redevelopment of a dilapidated market-rate apartment complex into a revitalized mixed-income community, which may help municipalities evaluate the pros and cons of participating in similar development transactions.

Obtaining Differentiation Premiums in the Presence of Fee Regulation in the Residential Real Estate Appraisal Industry

Abstract In the context of the customary and reasonable pricing standard imposed by the Dodd–Frank Act, this article considers whether residential real estate appraisers are able to obtain differentiation premiums for their services. Regression models estimated using data from the Commonwealth of Virginia offer some evidence that professional certifications and the complexity of an appraisal task are positively associated with fee levels in this type of regulatory environment. However, differentiation premiums appear more difficult to obtain across geographies and when an appraisal is procured by an appraisal management company. The findings suggest appraisers can differentiate themselves from competitors, but also that policymakers should be mindful of the potential for commodification on the residential appraisal industry in select market settings. Since appraisals are a critical component of the mortgage underwriting process, and the majority of housing transactions utilize mortgage debt, developing new understanding of how policies influence appraisers and how the appraisal process makes an important contribution to the housing policy literature.