Finance


UConn Men’s Basketball Game

2015-01-20_re-bb-eventThe 2015 UConn Real Estate Center Alumni & Friends Basketball Event will be held on Sunday, March 1. The Real Estate Center Council will host a pre-game brunch and reception at 12:00 p.m. at the Hilton Hotel’s Connecticut Ballroom, 315 Trumbull Street, Hartford, Conn.

Following the reception, the UConn Men will play the Southern Methodist University Mustangs at 2:00 p.m. at the XL Center. Tickets are $36.00 and are available through the registration link below.

To register for this event and purchase tickets click here.


REFA Student Field Trip

The Fairfield/Westchester Chapter of REFA will be hosting students from UConn’s Center for Real Estate on February 26 at the UConn Stamford branch to introduce students to the different sectors of the commercial real estate industry. Professionals from the REFA membership will include: Ernest DesRochers and Deanna Polizzo of Northmarq Capital to discuss Mortgage brokerage; Jeff Gage of CBRE and Al Mirin of Cushman & Wakefield to discuss Leasing Brokerage/Capital Markets Brokerage; Brian Heelan of the Ashforth Company and Bob Hartt of Hartt Realty Advisors to discuss Asset Management and In-House Leasing; George Yerrall of RiverOak Investment Corp and David Genovese of Baywater Properties to discuss Development and Investing; and James Lane of Webster Bank and Bob Palermo of Bankwell to discuss Banking.

These roundtable discussions will take place from 12 pm to 5:30 pm and will be followed by a social from 5:30 pm to 7 pm, allowing the students additional time to network with REFA members. The event will take place at the UConn campus on Broad Street in Stamford.


Proposed Power Plant is an Economic Winner According to New UConn Study

A proposed power plant in Oxford, Conn. would create both an enormous number of jobs and tremendous economic benefits for the area, according to a UConn study released on Jan. 13.

The report, created by the Connecticut Center for Economic Analysis (CCEA) at UConn, estimates the construction of the power plant would create more than 2,300 construction jobs and 1,800 sustained jobs. Furthermore, the proposed CPV Towantic Energy Center would generate almost $8 billion in new personal income for Connecticut residents over the next 25 years.

The study was commissioned by Competitive Power Ventures, the Maryland company that wants to build the plant on 26 acres adjacent to Waterbury-Oxford Airport.

“This project delivers dramatic economic benefits that will reverberate throughout Connecticut’s economy, both now and for decades to come,’’ said Fred Carstensen, CCEA Director. The plant would  boost Connecticut’s economic health and competitiveness, he said.

The plan has met with resistance from neighbors both in Oxford and adjacent towns, who have expressed concerns about the environment, health and decreased property values.  The Federal Aviation Association has also raised concerns because of the proposed plant’s proximity to the regional airport.

Meanwhile, the proposal has won the backing of some chambers of commerce, building trade professionals and Oxford First Selectman George Temple, who said he has already received inquiries from people who are interested in creating new businesses in town if the power plant is approved. The plant would also generate more affordable electricity for Connecticut residents.

The power plant was originally proposed and approved 15 years ago, but CPV is seeking to modify the application to build a larger facility. The Connecticut Siting Council agreed to review the application. Additional public hearings are pending.

The CCEA is located within the UConn School of Business and specializes in economic impact and policy analysis studies as well as advising clients regarding business strategy, market analysis and related topics. The CCEA focuses attention on the economic and business dynamics of Connecticut. Created in 1992, the organization serves the state by providing timely and reliable information to equip the public, decision makers and stakeholders with transparent analysis to facilitate thoughtful debate of public policy issues.





National Association of Realtors ACE Awards

Each year the National Association of Realtors (NAR) honors accomplished REALTORS® in commercial real estate by celebrating their individual achievements with ACE awards. Honorees have received awards from their local association, state association, community organizations or brokerages, making them eligible to be nominated for this NAR recognition.

The Connecticut Commercial Real Estate Alliance together with the Greater Hartford Association of Realtors received an honorable mention in the Education/Professionalism category for their collaborative work on the Connecticut Commercial Real Estate Conference held on Oct. 2, 2014 in partnership with the University of Connecticut Center for Real Estate.


“I Don’t Understand How This Could Be” UConn Students Try to Solve Life-Threatening Medicine Mix-Ups

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Pictured (L to R): Charles Fayal and Steve Graf show the Parrot Device, which they hope will prevent medication dosing errors.

When Steve Graf, and dozens of fellow volunteers, traveled to Ghana to help the sick, they brought 35 suitcases of medications and provision—and an endless supply of good intentions.

After a week of triaging patients, and distributing medications, Graf and his colleagues made a startling discovery. Many of the patients weren’t recovering, and some were consuming medications too quickly.

Some adults were doubling up on blood-pressure medications. Children were guzzling liquid acetaminophen from the bottle. And, compounding the problem, many of the patients were illiterate. Sometimes parents would leave the clinic with as many as 20 different prescriptions for their four children, leading to endless confusion.

Everyone on the medical mission was frustrated with the situation, but Graf just couldn’t let it go.

“I thought, ‘This is a terrible thing. I don’t understand how this could be,'” he said. Graf, now a UConn senior majoring in healthcare management, thought about the problem often after he returned from the trip in May of 2013.

How do you give clear and memorable instructions to someone who can’t read? The clinic had tried using illustrations, showing a sun or a moon, but that didn’t seem to work.

“We approach problems given our education and training,” Graf said. “Because we learned to read at age 6, we absorb information visually. Illiterate folks do not. Their traditional learning is verbal.”

Graf thought if the prescribing physician could give medical instructions using an inexpensive recording device, like the one found in a musical greeting card, patients would be able to more easily follow dosing instructions.

He mentioned that concept one day in front of friend Charles Fayal, now a UConn senior majoring in molecular cellular biology and biomedical engineering.

“The moment I heard the idea, I got pretty excited because I instantly knew how beneficial the prescription device could be—and how simple the idea is,” said Fayal, a Stonington native. “It’s funny how somebody else’s excitement spreads, because when I got excited about his idea, Steve got more excited. After that moment we knew we had to pursue this journey.”

After a great deal of research, experimentation and cost analysis, Graf and Fayal have found an inexpensive recording module, manufactured by a Chinese company, that they will be using as their first prototype. The “Parrot Device,” as they’ve nicknamed it, will allow a medical expert to record up to 60 seconds of medical instructions. The casing could be color-coded to match the medications, and both would be placed together in a travel bag.

Neither Graf not Fayal is looking for profit—or even much recognition. A successful solution, they both said, would be rewarding enough.

“We’re hoping this will save lives. That means everything to Charles and me,” said Graf, of Westport, who is the president of the UConn chapter of Global Brigades, a student-led organization that provides medical, public health, clean water and environmental relief trips to countries such as Ghana, Panama, Nicaragua and Honduras.

Graf and Fayal presented their idea at the Biomedical Engineering Society (BMES) annual meeting in San Antonio recently. It was well-received there, as it has been by physicians who are familiar with the challenges of working in third-world nations.

The biggest challenge for the two entrepreneurs has been keeping the price reasonable. Right now it is about $2 per device, and with a large order can probably be dropped to $1. Graf said he would like to try to get the price even lower. The cost of AIDS or blood-pressure medications can be several dollars per day, Graf said. The cost to resolve damage done by consuming prescriptions too quickly—or slowly—can be several times that, he said. The cost-versus-benefit of the Parrot Device is the focus that Graf and Fayal need to persuade organizations interested in their project.

Graf got his start-up funds for the project by winning a Connecticut Center for Entrepreneurship and Innovation pitch competition last year, which gave him $1,000 in seed money for the sound modules and plastic mold for the casing. He and Fayal are now seeking funding for a January trip to Haiti to test the device with patients.

“Haiti is somewhat of a make-or-break trip for us,” said Graf. “We hope to test our prototypes. Our main questions are, ‘Will the patients use the device as intended? Will the community adopt it? Will the patients benefit from it?'”

Beyond the initial concept, Graf and Fayal envision additional uses, such as education in infectious disease areas, such as Ebola-plagued villages. Prevention might become an even greater tool than treatment, they said.

Next semester Graf will take an entrepreneurship class and plans to write a business plan focused on the device. Graf and Fayal are hoping a large charitable organization will adopt the cause and fund the project.

“It has been a journey bringing this device to fruition,” Fayal said. “Some days we’ll realize that we have a mound of work in front of us, or a major obstacle to tackle regarding manufacturing or approval.

“On these days we get bummed out, but we know we have to power through because when we get to talk to somebody who has been to a place where this device is useful, it makes it all worthwhile. These people, whether they grew up in an impoverished area or worked in one, will get excited about the idea,” he said. “Just like when Steven first told me about the idea, we get excited about it all over again.”


Habitat for Humanity

On November 8, 2014 members of the Real Estate Society volunteered their time in Bristol, Connecticut to work with Habitat for Humanity. Students helped sand and paint newly constructed homes for individuals who would not be able to afford a home without the assistance of Habitat for Humanity and their donors. The students said it was a rewarding and enjoyable experience and look forward to working with the organization in the future.

habitatForHumanity


2014 Cornell Real Estate Competition

A team of real estate students from the University of Connecticut earned third place in a prestigious international case competition on November 4 in New York City, sponsored by Cornell University.The UConn team consisted of William Bartol, Drew Harney, Austin Smyth, Kristine Victor and Patrick Nista. Francesca Michel was the alternate
.UConn Students
John Glascock, director of the Center for Real Estate and Urban Economic Studies, said that the UConn students gave an excellent presentation and secured the honor despite fierce global competition from top-rated schools, including McGill, University of Sydney, Cornell, Brown and NYU.
To read more about the competition click here