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Spring Symposium 2018: Infrastructure & Real Estate

Joint Conference on Infrastructure and Real Estate
Center for Real Estate Finance Research
NYU Stern Infrastructure Finance Initiative
Wednesday, April 25, 2018
NYU Stern KMC 2-60
"The Infrastructure and Real Estate Nexus: Three Case Studies"
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Infrastructure Investment and Real Estate are closely linked. Infrastructure initiatives are catalysts in the economic development process, often with major external benefits that are reflected in the productivity and returns on both physical and human capital on and accelerating growth. Infrastructure can fundamentally alter the economics of real estate investments, on the one hand, while real estate development creates the need for and value of infrastructure. This inter-dependence is well understood by investors, policymakers and academics, and there is a rich body of applied research to draw on. This conference will delve into three recent cases of joint infrastructure-real estate dynamics in order to draw out many of the key lessons. These cases are: The Second Avenue Subway, The Dakota Access Pipeline Project, and the Panama Canal Widening.

2nd ave subway
Schedule:

8:00 - 9:00 AM: Registration and Breakfast
9:00 - 9:15 AM: Welcome and Introduction
9:15 - 11:00 AM: The Second Avenue Subway - Infrastructure and Real Estate Returns in An Urban Context
11:00 AM - 11:15 AM: Coffee Break
11:15 - 12:45 PM: The Dakota Access Pipeline - Cost-benefit Balance in an Environment-Social-Governance (ESG) Context
12:45 - 2:00 PM: Lunch & Keynote Interview
2:00 - 3:30 PM: Panama Canal Expansion - Global Logistics and Real Estate Impacts
3:30 PM: Conclusion

Welcome and Introduction
9:00 - 9:15 AM
Elizabeth Morrison, Vice Dean of Faculty, NYU Stern School of Business
Stijn Van Nieuwerburgh, David S. Loeb Professor of Finance & Director of the Center for Real Estate Finance Research, NYU Stern School of Business
Professor Ingo Walter, Professor Emeritus of Finance, NYU Stern School of Business

The Second Avenue Subway - Infrastructure and Real Estate Returns in an Urban Context
9:15 - 11:00 AM
Chair: Arpit Gupta, Assistant Professor of Finance, NYU Stern
Panelists: Tim McManus, Vice President of Capital Projects & Infrastructure Practice, McKinsey & Company
Phil Milstein, Principal, Ogden CAP Properties, LLC
Daniel Minkowitz, CEO, Mink Development
Dale Hemmerdinger, Chairman, ATCO Properties & Management

The Dakota Access Pipeline - Cost-benefit Balance in an Environment-Social-Governance (ESG) Context
11:15 - 12:45 PM

Chair: Sinziana Dorobantu, Assistant Professor of Management and Organizations, NYU Stern
Panelists: Dave Archambault, Former Chairman, Standing Rock Sioux Tribe
Chad Harrison, Executive Director, Standing Rock Housing Authority
John Kingston, Executive Editor, FreightWaves 
Clive Lipshitz, Managing Member, Tradewind Interstate Advisors
Linda Chiarelli, Vice President for Capital Projects and Facilities, NYU

Keynote Interview
Stijn Van Nieuwerburgh, David S. Loeb Professor of Finance & Director of the Center for Real Estate Finance Research
Stephen Ross, Founder and Chairman, Related Companies

Panama Canal Expansion - Global Logistics and Real Estate Impacts

2:00 - 3:30 PM
Co-Chairs: Harry Chernoff, Clinical Professor of Information, Operations and Management Sciences, NYU Stern
Kristen Sosulski, Clinical Associate Professor of Information, Operations and Mangement Sciences & Director of Education for the W.R. Berkley Innovation Lab, NYU Stern
Panelists: Carlos Fabrega, Executive Vice President, CUSA (Grupo Unidos Por El Canal)
Mike Landy, President and CEO, Monmouth Real Estate Investment Corp.
Bob Silverman, EVP Supply Chain and Logistics Solutions, JLL