When:
March 17, 2022 @ 11:30 am – 2:30 pm
2022-03-17T11:30:00-05:00
2022-03-17T14:30:00-05:00
Where:
Golden Valley Country Club
7001 Golden Valley Rd
Golden Valley, MN 55427
USA

We are excited to announce the North Star Chapter of the Appraisal Institute will be hosting a panel discussion on the recently-passed multifamily rent control ordinances in St. Paul and Minneapolis. The panel will be comprised of professionals from various disciplines in multifamily real estate, including brokerage, finance, development and appraisal, as follows:

Josh Folland, MAI, CCIM, Senior Managing Director, Valbridge Property Advisors (Moderator)
Tom O’Neil, Vice President – Market Analytics, Colliers Mortgage
Maureen Michalski, Vice President of Development, Ryan Companies (Developer of the Ford Site in St. Paul)
Ted Bickel, Senior Executive Vice President, Colliers
Brad Moore, MAI, Principal – Multifamily Appraiser, Nicollet Partners

The discussion will touch on many topics, including:

  • The need for affordable housing
  • How the ordinances are affecting new development, particularly the Highland Bridge / Ford Site
  • In what situations the ordinance will help tenants
  • Potential unintended consequences
  • How landlords are positioning themselves to maximize yield
  • How investors, brokers and lenders are adjusting underwriting expectations, if at all
  • How appraisers select and interpret rent comparables with no vacancy decontrol provision
  • How appraisers can support value opinions before the ordinances take effect, and after
  • What alternatives to rent control there are, if any, that would be more effective in addressing the affordable housing shortage
  • What modifications there may be to the St. Paul ordinance before it takes effect May 1st
  • What modifications the panel would like to see, if any
  • How St. Paul will administer exceptions, and who will decide what a “reasonable return on investment” is
  • What the panel hopes to see in the Minneapolis ordinance

Join us for an interesting and timely discussion on one of the most impactful laws to regulate commercial real estate in recent years.

12:00pm – 2:30pm with lunch included
11:30am:  Registration
12:00pm:  Program begins

Two hours of appraiser and real estate CE applied for.

This event is free for those that have paid the Chapter Service Fee.  Please contact the office , info@northstarai.org, to receive the promo code.

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