The Runstad Department of Real Estate is deeply saddened by the loss of Jon Runstad ’64, a prominent figure in the real estate industry and a dedicated philanthropist.
The overwhelmingly successful paddle raise at last year’s Runstad Leadership Dinner has enabled the Runstad Department of Real Estate to significantly expand scholarship support to undergraduate majors in real estate. Hear what this support means to the scholarship recipients.
The 2022-2023 academic year was a busy one for the Runstad Department of Real Estate.
The Runstad Advisory Board has developed several committees focused on supporting the Runstad Department of Real Estate’s students, faculty and programs. One of these committees, the Equity, Diversity and Inclusion Committee, is dedicated to helping create a future where equity is embraced so that the real estate industry and built environment reflect the rich diversity of people in the community.
This past academic year, the department and board members participated in some great events to help push the goal of moving the industry toward inclusion and equity. In February 2023, the Runstad Department of Real Estate and Foster School of Business held their annual symposium, “Hacking Inequity in Access to Real Estate Capital: Best Practices and New Options”. This year the event was also co-sponsored by Urban@UW and Urban Land Institute. After the keynote’s address, attendees heard from two panels: one focused on the experiences of developers seeking capital, and the other on the experiences and advice of capital providers. This year’s symposium was a follow up to the panel discussion on EDI in real estate capital investments that was held at the Autumn 2021 Runstad Advisory Board Meeting.
Board member Brian Surratt, was a leading force in the Housing Equity Accelerator program (HEA) this past year. Local Initiatives Support Corporation (“LISC”) partnered with Amazon to increase the supply of affordable housing and support the growth of emerging developers of color in Puget Sound. This work can help build capacity to create more affordable units and forge opportunities to generate equity and inter-generational wealth. Many Runstad Advisory board members and Master of Science in Real Estate alumni volunteered their time and service. Jaebadiah Gardner (a fellow of the program), Peter Orser, Andrew Hunt, McKenzie Darr and Kristin Ryan served as Business Advisors, program advisors and expert panelists. Diane Sugimura served as program facilitator for the year long program with 13 graduates.
Lastly, we want to thank George Northcroft for working with ULI to shape the February event, “10 Principles for Embedding Racial Equity in Real Estate Development,” and sharing the opportunity for our students to attend. ULI’s Building Healthy Places Initiative published “10 Principles…” as a guide for developers, investors, and other practitioners in making racial equity an important part of their real estate practice. Taidgh H. McClory, one of the contributors to the report, presented the 10 principles, following George’s impassioned history of racial issues in the real estate industry. George also moderated a “fireside chat” with Taidgh and Jaebadiah, before attendees broke into small groups to discuss the principles and their commitments to initiate change in their work.
We are thankful and excited about the work that was accomplished this year by the EDI Committee, and sincerely thank the committee for their service. We look forward to more progress happening in the years to come.
The Largest National Study on Community Land Trusts and Nonprofits with Shared Equity Homeownership Programs was recently completed. Vince Wang, Ph.D., assistant professor of real estate, was part of the research team.
Governor Inslee recently visited the College of Built Environments, where he met with several faculty members to discuss their research and its relevance to his proposal to increase investment in affordable housing.
We are thrilled to share that three of our amazing CBE students have been recognized for their contributions to UW and our communities as part of this year’s Husky 100. Congratulations to Ari Lazowski, Jacquelyn Crane, and Dana Austin Bass!
Join us on February 15th from 8:30- 11:15 a.m. PST in Founders Hall with ULI, Urban@UW, and the Foster School for an event addressing inequity in real estate capital.
CBE Runstad Department of Real Estate’s new chair shares what drew him to the role and what excites him about the future. On August 8, Steven Bourassa joined the College of Built Environments as the Chair of the Department and the Jon and Judith Runstad Endowed Professor.
Join us on on February 10th, 2023, from 10 a.m.-2 p.m. for the Runstad Department of Real Estate Career Fair. All undergraduate and graduate real estate students seeking internships and job opportunities are welcome.