What are the 2022 trends for real estate investment, commercial & residential? Why remote working hurts urban development?
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The following are the summaries of questions Joanne Z. Tan asked Michael Van Every during this one-hour interview on Oct 5, 2021, for the podcast series "Interviews of Notables & Influencers":
For 15 years, Michael Van Every has been the President of Republic Urban Properties (“RUP” for short), one of the largest commercial real estate developers in Silicon Valley. It is also the Bay Area flagship of the Republic Family of Companies, known for developing institutional-quality real estate throughout the United States.
Michael works with Federal, State, and Local governments on the creation and development of ‘smart growth’ projects, such as master-planned communities near transportation hubs; urban mixed-use projects near major employment centers; and innovative, public-private partnerships.
In his 25 years of representing major institutional and private real estate developers in the greater Bay Area, Michael has led complicated projects from land acquisition to completion. Under his leadership, RUP has gained national attention for its Transit Orientated Development (TOD) projects at key transit stations, working as the premier public-private partner with many transit authorities across California.
Michael has been involved with the planning, financing, construction, and delivery of 1,238 multifamily units and 145,000 square feet of mixed-use commercial space, 380 hotels rooms, 151,000 square feet of office, and 120,000 square feet of retail in various stages of development, at $1.5 billion in value.
A third-generation San Jose native, Michael is an active member of the Silicon Valley Leadership Group.
- Tell us about yourself, your personal stories, your family: Why do you do what you do? How did your journey end up here? And where is it going?
- What is the most important thing that you value?
- What are your biggest accomplishments, and the biggest learning lessons/failures
- COVID: how is it affecting commercial and residential real estate development? - Office buildings, retails, hotels, apartments, housing, public transit, mixed use projects, etc. How do you view the new remote work impacting new commercial office development?
- Will the future development of office space have habitational space associated with it?
- Wildfires, climate change, California’s water shortage: How are these three impacting both commercial and residential real estate development?
- Silicon Valley is full of world’s largest monopolies such as Google. Google has been buying land in the Valley. How has that impacted your business?
- What messages do you have for Silicon Valley giants like Google, Apple, Facebook, Cisco, Oracle, related to the current COVID remote working situations? And related to all their other monopolistic powers, more than COVID’s return to work issues?
- With your deep roots in Silicon Valley for generations, what in your experience makes or breaks your deals in the valley?
- You said that “Government is 100% responsible for the housing shortage”, please explain why.
- Will the increase in warehouses due to the “Amazon Effect” permanently continue, while the decrease in brick and mortar retail services lasts beyond the pandemic?
- What are the challenges for realizing internal ROI for real estate investors?
- Imagine yourself as someone with money to invest in real estate. What would you invest in right now: industrial properties such as warehouses? Residential townhouses? Duplex? Triplex? Quadplex? Single family homes? Land only?...
- WHERE would you advise COMMERCIAL real estate investors to invest, if all things are being equal, in Silicon Valley? Or elsewhere? Why?
- Is AI, smart city, and sustainability technology changing the way the buildings are built?
- What do you know about “The One” in LA?
- How do you think the Biden Administration’s infrastructure spending can help with real estate development?
- What can the federal government do to ease the labor shortage?
- What do you want the state and local governments to do, now and after the pandemic, for the real estate market and the economy?
- What does your brand stand for?