Detroit 2020 Forecast

Jeffrey Schostak- Jeffrey Schostak received his Bachelor’s degree from Indiana University in 2005. Jeffrey worked for Urban Retail Properties, a commercial real estate development and management firm headquartered in Chicago, from 2005 through 2010.  Jeff focused on retail leasing and acquisitions; where he was responsible for securing a portfolio of retail real estate for the company valued at nearly $200MM.  Jeffrey returned to Michigan in the fall of 2010, and became the first member of the 4 th generation of his family to join Schostak Brothers & Company Inc, where he is currently the President of Schostak Development. Jeffrey was recently responsible for sourcing a 93,000 square foot Build-to-Suit HQ building for the MASCO Corporation in Livonia, MI. Jeffrey’s responsibilities include overseeing all new ground-up development projects, redevelopment of existing assets, and value-add acquisitions for the company. As well as, leading the efforts to secure retail, office, industrial, and health care users for Schostak Brothers 1,000 acres of vacant land in Southeastern Michigan. Jeffrey was named one of L. Brooks Patterson Elite 40 Under 40 in 2012 and Crain’s 40 Under 40 in 2016.

Based out of Detroit, Michigan, Charlie Krisfalusi is a Vice President in the company’s FHA Finance group. Mr. Krisfalusi has over five years of experience in the commercial real estate industry and has expertise in the lending programs of the U.S. Department of Housing and Urban Development (HUD), Fannie Mae, and Freddie Mac. He is responsible for originating multifamily loans, with a focus on the Midwest region. Before joining Walker & Dunlop, Mr. Krisfalusi was a director at Pillar Financial, a division of SunTrust Bank. There, he was responsible for providing permanent multifamily loans through Fannie Mae, Freddie Mac, HUD, CMBS providers, life companies, and bridge executions. His experience includes the review of nearly $2 billion worth of all multifamily asset types across the country. Mr. Krisfalusi attended Arizona State University where he earned a Bachelor of Science in Business Administration from the W.P. Carey School of Business. Outside the company, Mr. Krisfalusi is active in the commercial real estate finance industry and holds memberships with the Urban Land Institute, Property Management Association of Michigan, Apartment Association of Michigan, Midwest and National Association of Housing Cooperatives.

Michael Poris, AIA, is founding principal of McIntosh Poris Associates, a full-service architecture, interior and urban design practice in Birmingham, MI. Since returning to Detroit in 1995, Michael has been working to implement change in his hometown preserving many of Detroit’s 20th-century landmark buildings, historic districts, and iconic neighborhoods. Michaels design leadership has helped transform Detroit with projects such as the Foundation Hotel, and the East Riverfront framework plan. His work has won over 130 design awards including 30 AIA Honor awards, 70 Detroit Design Awards and been published in over 100 publications worldwide including Dwell, Urban Land, Architectural Record, and Interior Design. Michael is currently working on an adaptive reuse of the 600,000sf Fisher Body plant in Detroit, and a 600 prefabricated home community in Colorado. Michael was recently awarded the AIA Detroit Charles Blessing award recognizing an individual who shows leadership in planning and civic issues and exemplifies the vision, commitment and the accomplishments of Charles A. Blessing, the visionary Detroit city planner, who committed himself to the pursuit of a higher quality of life for all.

Mark J. Bennett is Managing Director of MJBennett, PLLC, an affiliate of Pappas Financial and The Enterprise Securities Company. Mark is an entrepreneur, attorney and FINRA-registered securities professional with 30+ years of experience in structuring, financing and executing sophisticated transactions with an emphasis in real estate and technology. Since 2015, Mark has been involved in the placement of more than $100 million of direct real estate equity financing in the City of Detroit and surrounding suburbs for six new multi-family construction and significant rehab developments consisting of more than 1,100 units, and a cumulative project value in excess of $275 million. Five of these investments involved Qualified Opportunity Funds under the new Opportunity Zone legislation. Mark has started five venture capital backed companies and partnered with others to raise more than $100 million in equity from private equity funds, corporate venture funds, individual accredited investors, family offices and venture capital firms, including Bain Capital. While in law school, Mark founded Toxicheck, which later merged with Environmental Data Resources Inc., the leading national environmental information services company and owner of the largest Sanborn Map Collection, which helps the real estate industry manage environmental risk and liability. Mark practiced law at Miller Canfield and has extensive legal experience in real estate, environmental, renewable energy and economic development incentives at the federal, state and local levels. At Miller Canfield Mark established the firm’s Climate Change Practice, where he participated in creating Michigan’s PACE enabling legislation. Thereafter, he co-founded Sustainable Real Estate Solutions, a national PACE building energy benchmarking and underwriting technology platform. Mark is a Member of the State Bar of Michigan and the Finance Committee of the Jewish Federation of Metropolitan Detroit and the United Jewish Foundation. He has published more than 40 articles and made numerous public appearances in a variety of market areas. He earned his BS in Economics, Phi Beta Kappa from Michigan State University, and his JD from the Wayne State University Law School.

Stan Edwards is the managing principal and co-founder of Real Estate Interests, LLC, a specialized real estate consultancy designed to manage assets and property and guide companies through major changes and complex deals. With more than 20 years of expertise in real estate and financial services, Edwards is particularly focused in the areas of business development, operations and strategic planning. His experience includes spearheading the marketing and business acquisition platform for the OEM’s Tier automotive supply base while leading business development efforts at a commercial insurance firm. Later he played an integral role in increasing the assets under management of an institutional real estate advisor from $75 million to $1 billion. Stan earned a Bachelor of Arts degree from the University of Michigan, where he was a four year letterman and three time Big Ten Champion. After graduation, he was drafted by the NFL where he played professional football player for the Houston Oilers and the Detroit Lions.

Results-oriented, Eric Means is a hands-on development professional with more than 18 years’ experience in all facets of the industry. Since 1998, under the leadership of Mr. Means, the company and its affiliates have successfully generated over $300 million dollars in revenue and developed strong partnerships and relationships. While serving in the United States Navy, Means received his degree in Engineering with the University of Florida. In 1995, Means became a Michigan licensed builder and continued his advancement by becoming a certified PMP; subsequently pursuing a MIB in Business and continuing best practice curriculum through the Construction Association of Michigan, Associated General Contractors and the Urban Land Institute. Having a personal interest in philanthropic endeavors, Means’ affiliates have included Focus: HOPE, Detroit Hispanic Development Corporation, the Ways and Means Community Foundation, as well as various fraternal organizations, local colleges and community development corporations. Means’ goodwill efforts have provided needed resources for Focus: HOPE and The Ways and Means Community Foundation. Means currently continues his successes in urban areas with an emphasis on community place making, asset bolstering, dwelling preservation and creative land solutions.

Sarah has overseen the procurement or provision of public support to leverage over $2.5 billion of private investment in mid-western cities. In her most recent role, she directed the team at the DEGC responsible for attracting and facilitating development in Detroit. As a Detroit resident herself, Sarah is personally invested in the city’s revitalization. She has completed several historic renovations in the city’s North End and serves on the board of Central Detroit Christian CDC. She earned a BA from Wheaton College in International Relations; a Masters in Urban Planning and a Real Estate Development Certificate from the University of Michigan

John Skok, LEED AP, Principal at McIntosh Poris Associates, has led the firm in many roles including architectural design, project strategy and management, community engagement, and new project development since joining the firm in 2001. He launched his career at MPA with the adaptive reuse of a 1925 historic bank building into the vibrant Panacea techno nightclub, juxtaposing “urban archaeology” and minimalist design to spark new life in Detroit’s re-emerging downtown. His focus in adaptive reuse and interior architecture design solutions has contributed to other notable and award-winning projects such as the Detroit Foundation Hotel, the Detroit Athletic Club’s Gallery & Fresco restaurant, Ford’s Factory at Corktown, the Country Club of Detroit’s Bowling and Fitness Studio, Woodward Garden Theater, and Techtown’s Co.Act Offices. John’s energy, passion, resourcefulness and persistence for creative design solutions is brought to every project. He is leading and engaged in several current projects including the Hotel at 640 Temple, Hotel St. Regis Renovations, Mosaic in Eastern Market, Carhartt’s Legacy and Community Center, and three Detroit restaurants due to open in 2020. John received a Bachelor of Architecture from the University of Detroit Mercy in 2000 with honors, including a study abroad in Volterra, Italy, and worked at the school’s Detroit Community Design Center. He continuously stays involved with his alma mater and currently serves on the Dean’s Advisory Board.