The Future of Downtown Phoenix

From humble beginnings in a high school Industrial Cooperative Education program, Mike Lafferty got his start swinging hammers in the custom homebuilding industry as a framer in wood construction. He moved to Phoenix in 1980 to attend Phoenix College, where he learned to pull wire as an electrician. Three years later, he was firmly established as the Chief Executive Officer and President of Lafferty Electric, Inc., and he proceeded to lead the company through the completion of $300 million in operations. In 1985, Lafferty Development, Inc. was launched, and Mr. Lafferty served as the Chief Executive Officer and President, specializing in commercial and industrial build-to- suit projects, as well as mixed-use commercial developments. It is no secret that the City of Phoenix is growing at blistering speeds. Between 1940 and 1950, population grew 63 percent, and from 1950 to 1960, population grew 300 percent. By 2030, Phoenix is expected to reach 2 million residents, and there is an underlying concern that expanding cities could eventually reach unsustainable proportions. Phoenix has recognized that the sprawling patterns of growth, which have shaped its communities for the past several decades, cannot be maintained. Problems of lengthy commutes, overextended public facilities and increased infrastructure costs, loss of community resources, and even reduced physical activity and community health are associated with these outdated patterns. Instead, an emphasis on rehabilitating properties and sites within developed areas, and on maximizing use of existing public facilities is essential for livability and growth. Successful infill development is characterized by overall residential densities high enough to support improved transportation choices as well as a wider variety of convenience services and amenities. It can return cultural, social, recreational and entertainment opportunities, gathering places, and vitality to older centers and neighborhoods. March 2005 was the beginning of construction for the Valley Metro Rail, a 26.3-mile public light rail line serving the cities of Phoenix, Tempe, and Mesa. As one of the first visionaries in 2007, Mr. Lafferty introduced plans to build an 11-story mixed-use project near the heart of the new transit corridor, at the intersection of 12 th Street and Washington Street. Rather than appealing to wealthy urbanites, the apartments would target downtown workers, college students, and retirees. Rental rates would be on par with other apartments in the area. As luck would have it, plans for this undertaking went on hold during the nationwide housing recession between 2007-2009. However, undaunted, the project regained new life in 2014 as a flagship project for Epoch Residential Properties, and Mr. Lafferty’s vision for 300 new apartment units became a reality in the newly formed guise of two five-story multifamily buildings, constructed along Washington Street, between 11th Street and 12 th Street. Throughout his career, Michael Lafferty has demonstrated a keen ability, not only to recognize evolving needs within a community, but also to initiate effective strategies for enacting appropriate solutions. As a lifelong Phoenix resident, Michael Lafferty has worked for over 20 years with city officials, architects, and residents to ensure that new development fits the existing context, and gains neighborhood acceptance. His vision and understanding of the area enable him to identify the most likely sites as candidates for maximize yield for future investments, and his political relationships, community involvement, and experience with municipal processes make him a valuable ally in the district to effectively leverage and coordinate the resources needed across multiple phases of development and construction. Today, Michael Lafferty is leading the way for urban transformation that is both groundbreaking and pacesetting for the City of Phoenix’s long-range planning efforts to create more pedestrian-oriented developments within its transit districts. Located between the Garfield and Eastlake Park neighborhoods, Van Buren Street has the potential to become a primary thoroughfare connecting the vibrant downtown areas of Phoenix and Tempe. Van Buren Street parallels the light rail corridors of Washington and Jefferson Street. It has a viable inventory of pre- World War II buildings which embrace the street at or near the property lines. Several currently underutilized lots are poised as opportunities for infill investment along the corridor. Proximity to Downtown and the University of Arizona medical campus make this a desirable location for students and professionals. With an emphasis on connectivity heading east and west along mass transit and street corridors, 12 th Street can be seen as a notable opportunity for development, with new mixed use and multi-family projects recently completed or in the design phases. 12 th Street is in the unique position to link Van Buren Street with the light rail stations on Washington Street and Jefferson Street. Within the context of the Eastlake-Garfield District and the Van Buren Corridor plan, Michael Lafferty has proven himself to be an important figure in the community and a spearhead for positive change toward a more sustainable and connected city. He has cultivated awareness and support within the City of Phoenix planning and development department, upper city management, as well as from the mayor’s office to see the potential to bring new life to one of the oldest and historic areas in Phoenix. This is evident in the successes of the multiple rezoning cases for new projects that Mr. Lafferty has completed as demonstration of concepts for transit-oriented development. Three out of four cases received unanimous support from the Central City Village Planning Commission, the City of Phoenix Planning Committee, and the Phoenix City Council. The subject sites were approved for mixed-use, commercial, and multifamily uses with increased building heights and densities for development without any opposition.

Sharon is President, CEO and co-founder of Plaza Companies. Her forward-thinking commitment has helped make Plaza one of the premier real estate firms in Arizona and has earned her and Plaza respect throughout the industry and across the country. She is not only dedicated to her business endeavors, but is also actively involved in many different aspects of the community.

Stanton Shafer serves as Chief Operations Officer. His role is primarily engaged in the company’s operations, focusing on the management of the company’s six million square foot portfolio of national and international properties, including 3,000 apartment units. Shafer’s background includes 22 years as a successful Capital Markets broker with Cassidy Turley BRE Commercial, joining the company in 1989 when it was Grubb and Ellis. During those two decades he completed sales of nearly $1.5 billion in assets and was selected as the NAIOP-AZ Investment Broker of the Year. Prior to his career as a real estate broker, Shafer spent 10 years as a practicing real estate attorney. Stan’s education background includes an economics degree with distinction from Iowa State University and a Juris Doctors Degree, Magna Cum Laude from Arizona State University.

Rick Naimark joined Arizona State University in October 2015 as Associate Vice President for Program Development Planning. Naimark’s primary role at ASU is to lead efforts to expand the University’s educational and research capacity across Arizona and beyond through physical campus development and program partnerships with government and community organizations. Naimark came to ASU after 29 years with the City of Phoenix, where he most recently served as Deputy City Manager. Over his tenure at the City, he oversaw a variety of departments. He also led efforts to develop the ASU Downtown Phoenix Campus and Phoenix Biomedical Campus. He has a Master’s degree in Public Policy from the John F. Kennedy School of Government at Harvard University and an undergraduate degree in Public Policy from Stanford University. Naimark is active in the community, serving on various community boards including Hospice of the Valley, The Arizona Science Center, Artlink, The Friends of Phoenix Public Art, The Arizona Jewish Historical Society, and the Phoenix Citizens’ Transportation Commission. He and his wife, Dana, have two adult children, Jared, 26, and Nathan, 23.

Todd Marshall is co-founder and principal of Urban Development Partners (UDP). UDP targets development opportunities supported by transit and are positioned to help shape communities and develop transformative projects. Todd has over 30 years of development experience including single and multi-building commercial, residential, mixed-use and land development projects. Urban Development Partners and its affiliates have developed innovative infill projects and received recognition and honors including multiple Valley’s Forward Crescordia Awards and The RED Award. Todd has served in a variety of current and past civic appointments including the Tempe’s Rio Salado Commission, the Redevelopment Review Commission, the Rio Salado Development Review Committee and Chairman of the City of Tempe Housing Trust Fund Advisory Board. UDP Guiding Philosophy • We strive to create authentic urban environments where people will want to live and work through the blending of complimentary uses and human scale design. • We work to create attractive, convenient alternatives to suburban living by developing in locations with access to urban amenities and by employing transit-oriented design principles to create highly walkable communities. • We seek to find unique solutions to development obstacles by understanding community needs and forming public/private partnerships. • We believe that public spaces are vital to successful urban projects as they create a sense of community by offering opportunities for casual interactions. We look for opportunities to integrate such spaces in the projects we develop.

Winner of the William Lampkin Award for Career Excellence in Economic Development in 2013, Mr. Krietor has been integral to the maturation of Downtown Phoenix. During his 20 years of service to the City of Phoenix, Mr. Krietor held such high-ranking leadership positions as Community and Economic Development Director, Aviation Director, Deputy City Manager and Chief of Staff for Mayor Phil Gordon. Mr. Krietor’s career has given him a front-row seat for nearly every major development to impact Downtown Phoenix over the last two decades, including the construction of Metro Light Rail and Phoenix Sky Train, Phoenix Convention Center’s state-of-the-art facelift, the addition of the Phoenix Sheraton Downtown hotel, restoration of the historic Orpheum Theatre, and revitalization of the Roosevelt historic district. Mr. Krietor holds a Bachelor of Science and Master of Public Administration degrees from Syracuse University.

Jeff Moloznik serves as Vice President of Development at RED Development, LLC. Most recently, he managed the development of CityScape Phoenix, RED Development’s $500 million, 2.5 million sq. ft. mixed-use, high-rise destination in Downtown Phoenix. Since project conception, Jeff led the development of CityScape Phoenix. With more than 40 retail tenants; a 242 room hotel; 600,000 square feet of class A commercial office space; a City of Phoenix Park; two parking garages; and 224 high rise residential apartments; CityScape Phoenix has created a place to call Downtown Phoenix. Currently, Jeff is overseeing the development of The Union Dallas. A similarly configured mixed-use, high-rise infill redevelopment project in Uptown Dallas and anchored by a 60,000 SF urban, full service Safeway grocery store. Jeff’s responsibilities include public and private financing, entitlements, tenant relations, design oversight, construction coordination, marketing, community outreach, and governmental relations. Additionally, Jeff is the Asset Manager of RED Development’s newly completed Kimpton Hotel Palomar at CityScape, Phoenix’s newest four-star boutique hotel. Prior to CityScape, Jeff lead the development of over one million square feet of open air RED Development retail centers in communities across the Midwest and Southwest. Committed to the local community, Jeff currently serves on the Board of Special Olympics Arizona, the American Heart Association, the Downtown Phoenix Partnership, the Board of Genesis Academy Charter School in downtown Phoenix, the City of Phoenix Tourism and Hospitality Board, and the Phoenix Parks Foundation Board of Directors. Jeff earned a Bachelor of Science from the University of Wisconsin, Madison. He resides in Phoenix, Ariz., with his wife, Molly.

Michael J. Trueman is the Vice President of Development for P.B. Bell. He is responsible for strategic planning, market analysis, identification of development and redevelopment opportunities, land acquisition and entitlement processes. Prior to joining P.B. Bell, Michael worked as a consultant concentrating on multifamily acquisition development opportunities in Arizona, California and Nevada. Previously, he was a partner/development director for Alliance Residential where he sourced, financed and developed nearly $200 million in suburban and urban infill multifamily projects in the Phoenix metropolitan area. Michael received his Bachelor’s degree from Ohio State University in Columbus, Ohio.

Bill began his career in finance over 20 years ago in Seattle, Washington, mainly as mortgage broker. Bill and his family moved to Phoenix in 2007 after being pursued by several financial institutions. As an avid golf player, this was an easy transition for Bill. After weathering through the recession, Mr. Hansen started ExperGroup. Bills’ career includes mortgage backed lending, commercial and residential construction, development financing, private lending, structuring debt/equity for development and construction, stabilizing and repositioning commercial real estate assets and portfolios, SBA 504 financing, and special assets/loss mitigation including complex commercial real estate litigation, risk mitigation, arbitration and resolution. Bill has served on the Board of Phoenix Childrens Hospital since 2010. He was the 2014 Chairman for the annual Phoenix Childrens Hospital Golf Event which has raised $5.3MM to date.