Conversions, Conservation and Carbon: Re-Building for the New Normal Thursday, September 14, 2023 AECOM, 605 Third Avenue, 2nd Floor

Welcome

Beth Bernitt, Senior Vice President and Building + Places Business Leader, New York Metro, AECOM

Beth leads Buildings + Places—AECOM’s architecture and interiors, landscape architecture, and urban design and planning practice—for the New York Metro. In this role, her true passion is the strategic development of client relationships through her work with the firm’s market-based practice groups. As a champion of the integration of advanced digital solutions, Beth also heads AECOM’s technology and logistics practice in the East Region, which includes consulting practices for the design of infrastructure to support the deployment of emerging technologies, data centers, and logistics facilities. In addition, she co-leads the global electric Vertical Takeoff and Landing (eVTOL) initiative that comprises a multi-disciplinary team of architects and aviation and other transportation professionals.

Keynote

Dan Garodnick, Director, NYC Department of City Planning, Chair, City Planning Commission, and Chair, Mayor’s Office Adaptive Reuse Task Force

As Director of the NYC Department of City Planning and Chair of the City Planning Commission, Dan has advanced key mayoral priorities, including three “City of Yes” zoning text amendments aimed at making our city greener, creating and supporting businesses and jobs, and incentivizing the creation of 500,000 new homes. He served in the New York City Council for 12 years, representing the East Side of Manhattan, and was known as one of New York's most independent voices and effective legislators. Dan chaired the City Council’s Planning and Economic Development Committees and served as a member of the Land Use Committee. Immediately before taking the helm at the City Planning Commission and the Department of City Planning, he was President and CEO of the Riverside Park Conservancy, a not-for-profit organization advocating for a six-mile park on Manhattan's West Side.

Panel One: Reinventing Missing Housing Types and Evolving to a Mixed-Income Future

Office-to-residential conversion offers an opportunity to address New York City’s ongoing housing crisis and create a more equitable future. Single-use and often stagnant commercial districts could be reinvented into vibrant, mixed-use and mixed-income communities to ensure access to the city for people of all incomes. With 421a still stalled in Albany and the constraints of the State Multiple Dwelling Law, conversions face formidable obstacles in terms of delivering affordable housing. The panel will discuss how conversion can address gaps in the city’s housing supply, providing missing housing typologies and facilitating the development of more affordable units.

Moderator: Basha Gerhards, Senior Vice President of Planning, Real Estate Board of New York

Basha is focused on topics related to housing, land use, zoning, resiliency, and community development at the city, state, and federal level. Her work has helped to secure City and State legislation expanding access to housing vouchers and advance major projects delivering much-needed housing for New Yorkers. Previously, Basha served as a senior land use advisor to then Manhattan Borough President Gale A. Brewer. Prior to that, Basha worked at New York City’s Department of City Planning. She has a Master of Science in Urban Planning from Columbia University GSAPP and holds a Bachelor of Fine Arts in Historic Preservation, with a concentration in Urban Design & Development, from the Savannah College of Art & Design.

April De Simone, Founder, The Practice of Democracy

April is a transdisciplinary practitioner working at the intersection of architecture, planning, and systems thinking. In partnership with diverse stakeholders, she cultivates reframed opportunities within spatial practice to advance equitable, humane, and just frameworks and projects shaping the conditions of our society. Formerly a Principal at a nationally recognized architecture firm, she co-launched The Practice of Democracy in fall 2023. April previously co-founded designing the WE, where she co-curated Undesign the Redline, a nationally recognized exhibition exploring the impacts of unjust policies and practices. Her newest immersive experience, Of The People, The Truths WE Hold, launched in summer 2022 on the High Line and is traveling nationally. April was a Forefront Fellow with the Urban Design Forum and was recognized by Enterprise Community Partners as one of their Impactful 40 in 2022. A Dean Merit Scholar recipient, she received her Master of Science in Design and Urban Ecologies from Parsons School of Design and is pursuing a Master’s in Architecture.

John Mangin, Director of Housing, NYC Department of City Planning

John heads the Housing Division at the NYC Department of City Planning and teaches Land Use Law at NYU’s Robert F. Wagner Graduate School of Public Service. Prior to that, he was a teaching fellow at Georgetown University Law Center and worked in affordable housing development and litigation for Fair Share Housing, an organization that grew out of the Mount Laurel exclusionary housing suits in the 1970s and 1980s. John is the author of “The New Exclusionary Zoning” and “Ethnic Enclaves and the Zoning Game.” He is a graduate of Deep Springs College, Yale College, and Yale Law School.

AJ Pires, President, Alloy

AJ has been practicing real estate design and development in New York City for 20 years. He started his career as a project manager for Peter Walker & Partners on the World Trade Center Memorial. In 2006, AJ became a founding member of Alloy Development, a Brooklyn-based real estate development company committed to making Brooklyn beautiful, sustainable, and equitable. At Alloy, he manages the acquisition, design, capitalization, construction, stabilization, and disposition of projects that seek to promote thoughtful design and add value to the built environment. AJ received a Bachelor of Arts from Amherst College and a Master of Architecture and Certificate in Real Estate from the University of Pennsylvania. He teaches and speaks regularly on real estate development and design and has lectured at Syracuse University, Columbia University, New York University, University of Pennsylvania, Parsons, and Pratt. AJ serves on the boards of AIA NY, Packer Collegiate Institute, Urban Design Forum, and Community Bank Delaware.

Claire Weisz, FAIA, Founding Partner, WXY Architecture + Urban Design

Claire’s work as an architect focuses on innovative approaches to public space, structures, and cities. She was awarded the Medal of Honor from the AIANY in 2018 and was honored with the Women in Architecture Award by Architectural Record in 2019. Her design and planning firm, WXY, is globally recognized for its place-based approach to architecture, urban design, and planning, and has played a vital role in design thinking around resiliency. WXY's award-winning projects range from the SeaGlass Carousel, Spring Street Garage and Salt Shed, transforming Spofford into the innovative and equitable Peninsula community development, to the D15 Diversity Plan, the vision for Governors Island Climate Center and Rebuild by Design's Blue Dunes. WXY was named one of Fast Company’s World’s Most Innovative Companies for 2019 and Fast Company’s Most Innovative Companies in Urban Development and Real Estate for 2023.

Panel Two: Defragging Commercial Buildings: Strategies to Transition Successfully

Conversion from office to residential poses significant challenges requiring complex phasing strategies and costly modifications that are particularly onerous in post-war buildings. While New York City’s zoning constrains which properties can be converted, a new proposal from the Adams administration expands the pool of eligible buildings and neighborhoods that allow for residential. Panelists will discuss the criteria for successful conversions under current zoning, how to find the right mix of residential and other uses, and the potential impact of the proposed zoning amendments.

Moderator: Fred Corrado, Executive Vice President, AECOM Tishman

With more than 40 years of relevant construction experience, Fred leads the Interiors and Building Repositioning Practices in New York. He spearheaded a fruitful relationship with Verizon that led to nearly $2 billion in retrofit and interior fit-out projects in New York that then expanded to other major cities in the United Stated. Fred has also led major corporate fit-out assignments for L’Oréal at Hudson Yards, the Federal Reserve Bank of New York, Royal Bank of Canada, and many other clients. In addition, he leads the Building Repositioning Practice, which focuses on the renovation of existing building facades as well as MEP and lobby renovations within active and operational commercial assets, and the Cultural/Historical Practice, which has performed new construction, renovations, restorations, and infrastructure upgrades for some of New York City’s most beloved institutions, including The Metropolitan Museum of Art, the American Museum of Natural History, The New York Public Library, and Carnegie Hall.

Daniel Berman, Vice President, Metro Loft

Daniel has been with Metro Loft since 2006 and has had the opportunity to work on the acquisition, design, development, leasing, and management of nearly three million square feet of office-to-residential conversions, including 63 Wall St, 67 Wall Street, 20 Exchange Place, 116 John Street, 443 Greenwich Street, 180 Water Street, and 20 Broad Street. He is currently working on the development of 55 Broad Street with Silverstein Properties and 25 Water Street with GFP, while overseeing Metro Loft’s existing portfolio of rentals. Having lived downtown for the past 18 years, Daniel gets a big kick out of seeing projects evolve from concept to creation and is proud to participate in the vibrant evolution of the Financial District.

Francis W. Cooke, AIA, Design Principal, AECOM New York Metro

Francis is a Design Principal in the Buildings + Places group at AECOM where he leads design for the New York Metro, overseeing a team of 90 architects. With broad, international experience in architecture and urban design, Francis brings a global perspective to his work, which has been recognized with 11 international design awards. A native of rural Oklahoma who has lived in China, Francis has a keen sensitivity to what makes the built environment unique and compelling for its users and is inspired by both the practical and poetic aspects of everyday life. To address the unique needs of the 21st century, Francis seeks to integrate issues as diverse as embodied carbon, integrated delivery, social equity, and neuroscience in order to produce built works that address the immediate needs of the future and create lasting value.

David Marks, Senior Vice President & Head of Acquisitions, Silverstein Properties

David is a member of Silverstein’s Management Committee and Investment Committee. He is responsible for creating and executing investment strategies across the firm’s various platforms. This experience spans acquisition, development, project finance, and capital markets expertise in excess of $3 billion throughout the capital stack across all property types in the United States and Europe. Prior to joining Silverstein, David managed the overseas real estate investments portfolio for Israel’s largest insurance company, Migdal. He was responsible for the acquisition of more than $1 billion of commercial real estate across Europe and the United States. David received a Bachelor of Arts from Ben-Gurion University. He is an advisory board member of the Pre-Business program at Hunter College.

Tom Ortinau, Head of Acquisitions, GFP Real Estate

As the Head of Acquisitions and Investment Management, Tom oversees acquisitions, capital markets, asset management, leasing, and development activities. He has helped GFP grow its portfolio by 13 properties comprising 3.7 million square feet in the office, residential, dormitory, industrial, and life science sectors. Before joining GFP, Tom was a member of the US Transactions team at PGIM Real Estate where he managed a variety of investment and development activities. He started his career at WSP Group handling the design and construction of projects in New York. Tom is on the board of NYPEN Real Estate, a member of the Real Estate Circle at Columbia Business School, and teaches real estate investing to graduate students at New York University. He has a Bachelor of Science in Architectural Engineering from the University of Kansas, a Master of Science in Construction Management from New York University, and a Master of Business Administration from Columbia Business School.

Panel Three: How to Outpace Climate Change: Local Laws 97, 154 and Beyond

In 2019, Local Law 97 established strict carbon caps for New York City’s largest buildings. Two years later, Local Law 154 eliminated fossil fuels from new construction starting in 2024, further limiting carbon emissions. Opportunities for decarbonization abound with any construction project, but the magnitude of retrofits required for office-to-residential conversion provide an opportunity for outsized impact. Panelists will discuss the implementation of these local laws and how the one-two punch of operational and embodied carbon emission reductions informs decisions about conversions.

Moderator: John Mandyck, Chief Executive Officer, Urban Green Council

John was named CEO of Urban Green Council, an environmental non-profit dedicated to decarbonizing buildings for healthy and resilient communities, in 2018. He previously spent 25-years at Fortune 45 United Technologies Corporation where he capped his career as the company’s Chief Sustainability Officer. He’s an Adjunct Professor at the University of Connecticut School of Business and also served as a Visiting Scientist at Harvard University’s T.H. Chan School of Public Health. John is the founding chair of the Corporate Advisory Board for the World Green Building Council and a former board chair of Urban Green. He is co-author of the book Food Foolish and has published about sustainability in Harvard Business Review.

Susanne E. DesRoches, Vice President, Clean and Resilient Buildings, NYSERDA

Susanne leads NYSERDA’s work on building decarbonization, advancing programs and policies to deliver a carbon-neutral building stock. Prior to joining NYSERDA, she served as Regulatory Director for Energy Policy at the NYC Mayor’s Offices of Climate & Sustainability and Climate Resiliency where she was responsible for the City’s energy policy and regulatory affairs at the local, state, and federal levels, and directed the policies and programs designed to adapt regional infrastructure systems to climate change, including electric, gas, and transportation systems, and efforts to transition to 100% clean electricity by 2040. Susanne led the City’s long-term energy planning efforts, which centered on decarbonization while prioritizing a just and affordable energy transition. She previously served as the Chief of Resilience and Sustainability for the PANYNJ’s Engineering Department. Susanne was a chapter author of the Fourth National Climate Assessment and is on the faculty of Columbia University’s Earth Institute and School of Professional Studies.

Bomee Jung, Chief Executive Officer, Cadence OneFive

Bomee co-founded Cadence OneFive, a climate justice-focused public benefit corporation accelerating decarbonization of multifamily housing through innovative software. Since 2002, she has contributed to New York City’s climate leadership through policy and programmatic innovations. At NYCHA, the largest apartment owner in the United States., she developed and led the implementation of the strategic sustainability plan, including a $700 million program of energy performance contracts, a $300 million electrification program, a 25-megawatt community solar program, and the city’s first new pneumatic waste collection system in 47 years. Prior to NYCHA, Bomee designed and led the New York City climate programs of Enterprise Community Partners, a national leader in affordable housing. She holds a master’s degree in City Planning from MIT and serves on the board of the Institute for Market Transformation and the credit committees of Capital For Change and The Community Investment Guarantee Pool.

Carolyn Kissane, PhD, Founding Director, NYU SPS Energy, Climate Justice and Sustainability Lab

Carolyn is the Associate Dean of the graduate programs in Global Affairs and Global Security, Conflict and Cybercrime at the Center for Global Affairs and a Clinical Professor teaching graduate-level courses examining the geopolitics of energy, comparative energy politics, energy, environment and resource security, and climate change and security. She is the Founding Director of the SPS Energy, Climate Justice and Sustainability Lab, Coordinator of the Energy and Environment concentration at the Center, and faculty adviser to the Energy Policy International Club. Carolyn was awarded the esteemed NYU Excellence in Teaching Award in 2007, the SCPS Award for Teaching Excellence in 2009, and nominated for the NYU-wide Distinguished Teaching Award four times. She is a lifetime member of the Council on Foreign Relations, member of the National Committee on US-China Relations, and serves on the boards of the New York Energy Forum, New York Energy Week, and the Clean Start Advisory Board. Carolyn was named Breaking Energy’s Top Ten New York Women in Energy and Top Ten Energy Communicator.

Dana Robbins Schneider, Senior Vice President & Director of Energy, Sustainability and ESG, Empire State Realty Trust

Dana is responsible for defining, leading, and executing a comprehensive program for all company- and property-level energy and sustainability initiatives and industry-leading best practices and to coordinate and develop the company’s ESG and wellness programs and reporting. She focuses on analyzing and implementing actionable measures that drive energy efficiency and performance at the whole building, systems, and tenant level, including proactive planning for Local Law 97 and 80X50. Prior to joining ESRT, Dana led JLL’s Energy and Sustainability Projects team for the Americas, working on more than 250 million square feet of impact projects over 18 years. She was previously a mechanical engineer at WSP. Dana serves on the Real Estate Roundtable Sustainable Policy Advisory Committee, Urban Green Board of Directors, REBNY Sustainability Committee, USGBC LEED Steering Committee, and the Local Law 97 Technical Pathways for Commercial Buildings Working Group. She graduated Phi Beta Kappa from the University of Virginia and is a LEED Fellow.

Panel Four: Finding the Right Mix: Financing the Future

A number of compounding issues are creating difficulties in financing the equitable, resilient, sustainable future we want. Tight municipal budgets, limited subsidy, higher interest rates, and inflation are compounded by skittish investors, rising insurance liability, lagging policy, and the crisis in the capital markets. Panelists for every side of a transaction will discuss how they are navigating and innovating in this current climate, thinking about converting buildings, producing sustainable housing, and fostering commercial and economic development.

Moderator: Marc Norman, Larry & Klara Silverstein Chair in Real Estate Development & Investment and Associate Dean, NYU SPS Schack Institute of Real Estate

A renowned urban planner and a veteran in the field of community development and finance, Marc is also the founder of Ideas and Action, a consulting firm. Before joining NYU in July 2022, he was an Associate Professor of Practice at the Taubman College of Architecture and Urban Planning at the University of Michigan where he also served as Faculty Director of the Weiser Center for Real Estate at the university’s Ross School of Business. A former Loeb Fellow, Marc also has extensive experience in the public, private, and non-profit sectors and has worked collaboratively to develop or finance more than 2,000 units totaling more than $400 million in total development costs.

Melissa Román Burch, Chief Operating Officer, NYC Economic Development Corporation

Melissa leads major economic development transactions, initiates tax incentive programs and investments that create jobs in key sectors, and spearheads real estate development on city-owned land. Managing to a double bottom line of financial returns and measured social impact, she mobilizes public and private investment across EDC’s portfolio of 64 million square feet and 230 assets comprised of life sciences, film & entertainment, advanced manufacturing, offshore wind, and green economy businesses. Melissa joined EDC in 2022 after two decades as a leading business executive and property developer. While at Lendlease and Forest City, she assembled, entitled, capitalized, and constructed millions of square feet of mixed-use office, housing, and entertainment developments. A proud civic leader, Melissa serves as a Trustee of the Henry Street Settlement and has been recognized by Crain’s 40 Under 40, City & State’s Women of Public & Civic Mind, and the Commercial Observer Real Estate Power 100.

Christina Chiu, Executive Vice President, Chief Operating Officer & Chief Financial Officer, Empire State Realty Trust

Christina is responsible for capital markets, financial planning and analysis, financial reporting, tax, treasury, investor relations, technology, legal, and human resources. She joined Empire State Realty Trust after an 18-year career at Morgan Stanley where she served as Managing Director and Chief Operating Officer of the Global Listed Real Assets Investing business, responsible for business development and capital raising efforts, institutional investor and consultant relationships, oversight of the day-to-day investing business, and execution of strategic initiatives. Christina began her career as a real estate investment banking analyst on both principal investing and strategic advisory transactions. She is a member of The Real Estate Roundtable Real Estate Capital Policy Advisory Committee and ULI Technology & Real Estate Council as well as a David Rockefeller Fellow of the Partnership for New York City. Christina earned a Bachelor of Science in Finance and Accounting summa cum laude from NYU’s Stern School of Business.

Jerry Pi, Founder, Pi Capital Partners

Jerry founded Pi Capital Partners, one of the largest fully private real estate family offices in New York City. Pi Capital Partners is a real estate investment firm focused on asset management, development, and acquisitions in Manhattan and Queens. Some of its signature ground-up construction projects include Flushing Professional Tower, The Elm West, The Elm East, and 339 Fifth Avenue. Jerry earned his double major in Economic and International Relations from Boston University and his master’s degree in Real Estate Development from New York University.

Mary Hogan Preusse, Senior Advisor, Fifth Wall

Mary has more than 30 years of experience in real estate, investment management, and strategy. She is the Chairman of the Board of Digital Realty, the Lead Independent Director of Kimco Realty, and on the boards of Host Hotels and Resorts and Realty Income. Mary is also a senior advisor to Fifth Wall, the prop tech/climate tech venture capital firm, and served on the board of VEREIT. Previously, she was Managing Director and Head of Americas Listed Real Estate at APG Asset Management US, where she was responsible for more than $13 billion in public real estate investments. From 2008 until her retirement in 2017, Mary was also a member of its Executive Board. Prior to joining APG, she spent eight years as a sell side analyst covering the REIT sector. In 2015, Mary received NAREIT’s E. Lawrence Miller Industry Achievement Award and now serves on its Advisory Board of Governors. She has been featured in numerous financial publications, and is a frequent speaker on real estate, asset management, ESG, and corporate governance best practices.

Closing Remarks

Marc Norman, Larry & Klara Silverstein Chair in Real Estate Development & Investment and Associate Dean, NYU SPS Schack Institute of Real Estate