FUTURE TRENDSWHAT TO EXPECT IN 2017

November 15, 2016

Stadium Club at Folsom Field

University of Colorado Boulder

9 am - 4 pm

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2016 Boulder Valley Real Estate Conference | www.fallrealestateconference.com | www.bizwest.com | 3

n RESIDENTIAL FORECAST: What do the latest numbers tell us about the residential market in the Boulder Valley? We’ll examine sales numbers, listings, average and median prices and much more.D.B. Wilson, Re/Max of Boulder

n COMMERCIAL FORECAST: Office, retail and industrial space is filling up throughout the Boulder Valley. We’ll take a look at major developments and sales, as well as the latest vacancy and leasing statistics.Angela Topel, Gibbons-White

AGENDA

FIDELITYNATIONAL TITLE COMPANY

presents

2016 Title Sponsors

2016 Supporting Sponsor

2016 Associate Sponsors

SOUTH STAGE: COMMERCIAL 10:30 TO 11:30 A.M.n ICONS OF REAL ESTATE

BACK BY POPULAR DEMAND! Development, investment and ownership of commercial real estate require knowledge, instinct and strategic thinking. So how do the region’s commercial experts do what they do? Ask questions of the Boulder Valley’s top real estate developers, investors and owners in this second annual panel of leaders in commercial real estate.• George Berg, Berg, Hill, Greenleaf &

Ruscitti LLP• Chuck Bellock, Community

Development Group• Jim Loftus, Loftus Developments Inc.• Bill Reynolds, W.W. Reynolds Cos.

NORTH STAGE: RESIDENTIAL10:30 TO 11:30 A.M.n DEFECTIVE DEFECTS LAW

Builders say that Colorado’s construction-defects law is making it very difficult for builders of condos and single-family homes to bring product to the market without fear of lawsuits. Numerous attempts to reform the law have failed — including in 2016. What effect is current law actually having on the housing market, and what are the prospects for reform in 2017?• Moderator: Jay Kalinski, Re/Max of

Boulder• Andy Proctor, Proctor Community

Enterprises• Giovanni Ruscitti, Berg, Hill, Greenleaf

& Ruscitti LLP• Dave Scott, Colorado Landmark

Realtors

n COMMERCIAL REAL ESTATE TRENDS

What are national and local trends for commercial real estate? What role will decisions by the Federal Reserve have on commercial real estate development? We’ll explore trends in office, industrial, retail and investment properties.

Dr. Thomas Thibodeau, CU Real Estate Center Academic Director and Global Real Estate Capital Markets Professor

n THE BIG SHIFT

A dramatic shift is occurring in the region’s new-housing market, with supplies of developed lots dwindling in larger communities, but with smaller towns poised for dramatic growth. We’ll hear the latest numbers and trends from an expert in the industry.

John Covert, regional director, Colorado/New Mexico, Metrostudy

SOUTH STAGE: 11:45 A.M. TO 1 P.M.Keynote addresses:

SOUTH STAGE: COMMERCIAL1:15 TO 2:30 P.M.n BREAKING GROUND

Communities throughout the Boulder Valley are seeing a wave of new commercial construction, with some projects in the planning stage and others already emerging from the ground. Our panel of development directors will provide a complete rundown of the region’s top projects. This panel is a huge hit year after year!• Roger Caruso, City of Lafayette• Aaron DeJong, City of Louisville• Charles Ferro, City of Boulder• Clint Folsom, Town of Superior• Paula Mehle, Town of Erie• David Shinneman, City and County of

Broomfield• David Starnes, City of Longmont

NORTH STAGE: RESIDENTIAL1:15 TO 2:30 P.M.n ARE WE IN A BUBBLE?

Soaring housing prices, low inventory, rapid appreciation — it all looks good for the Boulder Valley housing market, but all good things must come to an end, don’t they? • Moderator: Duane Duggan, Re/Max of

Boulder• Lou Barnes, Premier Mortgage Group• Monique Cole, Pedal to Properties• Mike Malec, Re/Max of Boulder• Rick Miller, Land Title• Kelly Moye, Re/Max Alliance

SOUTH STAGE: 9 TO 10:15 A.M.

SOUTH STAGE: 2:45 TO 3:45 P.M.n AFFORDABLE HOUSING

Commercial developments now play a huge role in Boulder’s efforts to create more affordable housing, with new “linkage” fees being implemented by the city. What effect will these fees have on

creation of additional affordable units, and what effect will they have on commercial development?• Moderator: Chris Wood, publisher &

executive editor, BizWest• Andy Allison, Allison Management LLC• Lou DellaCava, LJD Enterprises• Leslie Durgin,Boulder Housing

Partners

FALLREALESTATECONFERENCE.COM

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LOU BARNESLou Barnes moved to

Boulder in 1952 at age 3, and excepting New England 1960-’73, Boulder ever since. The Choate School and Brown Univer-sity. Marketing Manager for Holubar Mountaineering Ltd 1973-’78. President of Spruce Real Estate 1978-‘83; BARA President 1983. Then to the dark side: Managing Partner of RCM Government Securities 1983-’88 (early MBS deriva-tives — please don’t tell the children — and regulatory work in the S&L meltdown). Mortgage banking: Univer-sal Lending 1988-’89; Co-proprietor of Boulder West 1990-‘09; and since 2009 with Premier Mortgage Group. Since 1988 author-publisher “Mortgage Credit News.” lbarnes@pmglending.com.

CHUCK BELLOCKChuck Bellock is the

founder and CEO of Community Develop-ment Group, one of Colorado’s leading developers of master planned communities. After graduating with finance degrees from The Pennsylvania State University and the Columbia University Graduate School of Business, Bellock arrived in Boulder Colorado in 1970. He formed Community Development Group shortly after with a focus on gaining difficult en-titlements in growth restrictive jurisdic-tions in the greater Boulder area.

GEORGE BERGMr. Berg is one of the

four founding partners of Berg Hill Greenleaf & Ruscitti LLP. Mr. Berg’s practice of over 35 years emphasizes complex commercial transactions and litigation, personal and real property litigation, real estate and real estate development, construction, banking, insurance and title insurance coverage analysis and litigation, includ-ing antitrust and business competi-tion matters, business organization, reorganization, business disputes and bankruptcy.

ROGER CARUSORoger Caruso is an

economic special-ist with the city of Lafayette and has held positions in both com-munity development and administration. He spearheaded the city’s application to the OEDIT for Enterprise Zone status, has offered nearly $800,000 in econom-ic packages in 2015, and is the lead contact and negotiator for a 25-acre commercial development, proposed with more than 200,000 square feet of commercial space.

MONIQUE COLEHighly personalized

service distinguishes me as an agent and has earned me a spot on 5280 Magazine’s list of Five Star Real

Estate Agents for two years in a row. I have helped people buy and sell real estate since 2003, in both Boulder, Colorado, and Haleiwa, Hawaii, where I was raised. Boulder has been my home for 17 wonderful years. What do I bring to the table? A strong desire – and the expertise necessary – to do the best job possible for each individual client. I’m an excellent problem solver, but I also try to anticipate and resolve issues before they even become problems. My goal is to make each transaction as smooth and stress-free as possible.

JOHN COVERTJohn Covert, direc-

tor of Metrostudy’s Colorado-New Mexico Region, has been researching and ana-lyzing housing markets since 1999. He is responsible for surveying, consulting and managing local client relationships, and regularly interfaces with many top homebuilders in Colorado, as well as with lenders, developers, investors, suppliers, utilities, school districts, and local governments concerning trends in the local economy and their effect on the real estate market.

AARON DEJONGAaron DeJong joined

the city of Louisville in 2012 as its economic-development direc-tor. He is in charge of the City’s business retention and expan-sion program, redevelopment activities and retail recruitment activities. Aaron serves as the lead staff person for the city’s Urban Renewal Authority. He has led several development projects focused on redevelopment, job growth, and historic preservation throughout his career.

LOU DELLACAVALou is the owner of

LJD Enterprises Inc., a real estate develop-ment and manage-ment company, which manages numerous buildings and develop-ment projects in the Boulder area and along the Front Range. Since the mid 1970s, his real estate experience has grown from developing resort condo-minium projects in Colorado’s mountain communities to creating developments in commercial, industrial, multifamily and single-lot subdivisions in Boulder and surrounding communities.

DUANE DUGGANDuane is a Real-

tor with Re/Max of Boulder, where he is a member of a top team of consistently high producers. Over the past 30-plus years, he has been a regular member of the Chairman’s Club, one of the highest single-year honors that Re/Max bestows upon a Sales Associate. In addition, he has also been awarded the Re/Max International Lifetime Achievement and the Circle of Legends Awards. He has helped facilitate more

than 2,000 transactions over his career and personally published “Homebuyer’s Information Booklet.”

LESLIE DURGINLeslie Durgin has

served as the execu-tive director of numer-ous non-profit organi-zations in her career in human services and public policy. Her most recent positions include Director of Government Relations at Tierney, Paul and Lawrence (formerly Heizer Paul LLP), a law firm in Denver and Senior Vice President of Public Policy, Com-munications and Community Develop-ment at Planned Parenthood of the Rocky Mountains.

CHARLES FERROCharles Ferro is the

Development Review Manager for the City of Boulder, CO. Mr. Ferro and his team are responsible for review-ing various project and permit application types for consistency with the city’s adopted plans, policies and regulations. Charles has a Master’s Degree in Urban and Regional Plan-ning from the University of Colorado. He has been with the City of Boulder since 2005 and has managed the city’s Development Review Planning Division since 2009.

CLINT FOLSOMClint is mayor of the

town of Superior and regionally serves as the town’s represen-tative on the Metro Mayors Caucus, the U.S. 36 Mayors & Commissioners Coalition, and other committees and working groups. Prior to serving as mayor, he served for six years on the town’s Planning Commis-sion, with the last two years serving as its chairperson. He is also the founder/ owner of Folsom & Company Real Estate, which represents buyers and sellers of residential and investment real estate throughout the Boulder Valley.

JAY KALINSKIJay Kalinski is the

co-owner of Re/Max of Boulder, Inc. He is also an experienced lawyer and veteran of the U.S. Air Force. Jay joined his father, Tom Kalinski, the broker/owner of Re/Max of Boulder, to form the core of the Kalinski Team, which has more than 45 years’ combined experience helping people buy and sell real estate along the Front Range. Jay and Tom focus on both residential and commercial real estate and are experienced with real estate development and investment.

JIM LOFTUSJim Loftus has been

in active real estate for approximately 42 years, having acquired his Re-altor’s License in 1973. He formed his own real

estate investment company in 1978, and shortly thereafter co-founded Loftus-Walker Construction, Inc. As a compli-ment to this organization, Mr. Loftus also co-founded The Colorado Group and The Colorado Management Group, offering full service leasing, sales, and property management.

MIKE MALECMike has been helping

people buy and sell real estate in and around Boulder since 1998, fo-cusing on the residential market, with emphasis on quality service, dedi-cation, personal attention, and customer satisfaction. Mike is a five time recipient of 5280 Magazine’s Five Star Real Estate Agent award and is a 1999 Graduate of the REALTORS® Institute.

PAULA MEHLEPaula Mehle serves

as the economic-de-velopment coordinator for the town of Erie. She is responsible for the town’s economic-development strategy, which includes local business retention and expansion programs, business attraction of primary employment and retail, strategic business alliances and business ombudsman activities.

RICK MILLERRick Miller is a 15-

year veteran of the real estate industry. He is currently an account manager at Land Title and manages com-mercial, lender and residential accounts in Boulder County. In 2011 he founded and currently runs the Denver Masterminds group with 20 of the Metro Area’s most acclaimed RE-ALTORS and real estate professionals focused on impacting the local industry (TheDenverMasterminds.com). He has been a resident of Boulder County for most of the past 25 years. Prior to the title industry, he published the real estate industry trade magazine, Broker Associate, which reached 25,000 resi-dential real estate professionals.

KELLY MOYEWith 24 years of

experience in real estate in Boulder and Broomfield counties, Kelly is one of the top producing residential broker associates at Re/Max Alliance. After working many years with relocation companies to help top executives move to the area, she is seasoned in the high-end market and new construction. She has been a director for the Boulder Area Board of Realtors for nine years and is cur-rently president-elect. She is also a media spokesperson and chair of the Research Committee for the Colorado Association of Realtors.

See Conference Speakers, 6

CONFERENCE SPEAKERS

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ANDY PROCTORAndy Proctor is a

consultant who works with clients to create and preserve afford-able housing. He is based in Boulder and works nationwide. He has been involved in affordable hous-ing for nearly 20 years, and has been consulting for 12. Professional positions have included the State of Colorado Di-vision of Housing, and manager of the City of Boulder’s Housing Division. His work can be seen at his website, www.andyproctor.net.

DAVID SCOTTDavid is a REAL-

TOR® with Colorado Landmark, Realtors in the Boulder area mar-ket where he serves local, national and international clients. His specialties include luxury and single family residences, condominiums, stu-dent housing, investment property as well as international resort destinations. He is the Past President of Boulder

Area REALTOR® Association, where he has been an advocate for affordable middle class housing and green/sus-tainable building practices.

BILL REYNOLDSDuring the last 40

years, Bill and his companies have de-veloped more than two million square feet of office, commercial and residential buildings

in Boulder and Fort Collins. Notable projects include Table Mesa Shopping Center, Sunrise Shopping Center and Pearl East Business Park, to name just a few. His most recent project is the 550,000 square foot mixed-use development, One Boulder Plaza, lo-cated in downtown Boulder. The W. W. Reynolds Companies has 428 tenants and currently owns and / or manages over 4 million square feet of commercial property along the Front Range.

GIOVANNI RUSCITTIGiovanni M. Rus-

citti is one of the four founding members of Berg Hill Greenleaf & Ruscitti, LLP. A “bet-the-company” advocate, Mr. Ruscitti is equally comfortable in the courtroom as in the boardroom, and regularly serves as lead transactional and litiga-tion counsel. Mr. Ruscitti has almost 25 years of experience working on construction, mining, power and energy related matters. He has represented clients on both public and private proj-ects for owners, developers, general contractors, subcontractors, suppliers, insurers and sureties, with a particular emphasis in complex EPC projects.

DAVID SHINNEMANDavid Shinneman

is the community development director for the city and county of Broomfield for 5½ years, where he is re-sponsible for all plan-ning, engineering and building activity

for the area. The department is also re-sponsible for traffic engineering, current and long-range planning, geographic information systems (GIS), mapping, code compliance and administration of Broomfield’s capital improvements program (CIP).

DAVID STARNESDavid Starnes is the

redevelopment pro-gram manager for the city of Longmont. His primary responsibilities include facilitating rein-vestment to areas that require redevelopment, including the city’s two urban renewal areas — the Southeast Longmont area, an underuti-lized industrial and commercial district, and the Twin Peaks Mall area, a new redeveloped retail center. As a former vice president for a national economics and real estate development advisory firm, he has worked with develop-ers and local governments, non-profit organizations and institutional investors throughout the nation.

THOMAS G. THIBODEAUThomas G.

Thibodeau is the Glob-al Real Estate Capital Markets Professor and the Academic Direc-tor of the University of Colorado Real Estate Center in the Leeds School of Business at the University of Colorado-Boulder and the Academic Director of the Uni-versity of Colorado’s Real Estate Center (CUREC)

ANGELA TOPELAngela Topel is a se-

nior broker at Gib-bons-White Inc. Since starting her commer-cial real estate career in 2005, she has spe-cialized in all aspects of commercial real estate, including landlord and tenant representation, acquisition, disposition, consultation services and property management. She served on the executive board of the Commercial Brokers of Boul-der (CBB), is a current member of the Denver Metro Commercial Association of Brokers (DMCAB), and has recently served on the board of Downtown Boulder Inc. and the Sesquicentennial Boulder Planning Board.

D.B. WILSOND.B. has been the

managing broker of three different compa-nies with the last 24 years being at Re/Max of Boulder. At Re/Max, he has been Manager of the Year, has served on committees with NAR and CAR, as well as many with the Boulder Area Realtor Associa-tion (BARA). He received CAR’s Distin-guished Realtor Award on four different occasions, has twice served as the president of BARA, and has received its’ Distinguished Realtor Award, as well as the Realtor of the Year Award. He also served for nine years on the board of managers for IRES, the Northern Colorado MLS system, with three of those years as its chairman.

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