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As fall descends on Cornell’s campus, students in the Baker Program in Real Estate are preparing for the 35th Annual Cornell Real Estate Conference in New York City on October 13th, 2017. This year’s conference theme is Real Estate Mega Trends, and we are honored to present the 2017 Real Estate Industry Leader Award to a man who has placed his company at the forefront of innovation and creativity in response to one of these mega trends: Jonathan F.P. Rose, founder and president of Jonathan Rose Companies.
The affordability of housing (or lack thereof) has become a hot button issue across the nation in recent years as debate intensifies regarding inequality of income and opportunity. In a recent interview, Rose estimated that New York City has a shortage of 800,000 affordable housing units – equating to 26% of New York City households lacking affordable housing. As our cities continue to grow, access to affordable housing across the spectrum of income levels will be one of our generation’s greatest urban challenges.
Founded in 1989, Jonathan Rose Companies has emerged as a leader and visionary in the development of affordable, sustainable communities that “enhance opportunity for all.” The company has completed projects with a combined value of over $2 billion and also does work in public policy, planning, and investment, regularly partnering with cities and non-profit organizations. With an emphasis on promoting healthier cities, Jonathan Rose Companies is recognized throughout the industry as a leader in developing communities that embrace social and ecological responsibility. “The promise of a better life is too often constrained by ZIP code,” said Rose. “Yet we know what it takes to more evenly distribute opportunity: affordable housing, meaningful work, accessible transportation, educational excellence, local health care, centers for arts and culture, and community places of contemplation and compassion.” The company also seeks to develop projects that are highly duplicable and can serve as successful models for improving our urban environment.
The forward-thinking work of Jonathan Rose has earned wide recognition for both his company and its properties. One of the most iconic Jonathan Rose properties is Via Verde, a mixed-use housing project in the Bronx serving a range of income levels. This project was completed in 2012 and received numerous awards from organizations including the American Institute of Architects and the Urban Land Institute. In February 2017, New York City selected Jonathan Rose Companies and L+M Development Partners to develop the Sandero Verde project in East Harlem, which will include 655 rent-regulated apartments, a YMCA, a supermarket, a healthcare center, a charter school, and a community center. In March 2017, Jonathan Rose Companies completed the acquisition of Forest City’s affordable housing portfolio of 48 communities totaling approximately 8,500 affordable housing units for $500 million, bringing the company’s total portfolio to approximately 15,000 affordable units.
Rose’s passion and efforts to improve our cities extends well beyond his own properties. He is a frequent lecturer on the topics of affordable housing and community development and has testified before the U.S. Senate on housing and environmental issues. He has also served as an Advisor to the White House Office of Urban Affairs. In 2016, Rose published a book entitled The Well-Tempered City: What Modern Science, Ancient Civilizations and Human Behavior Teach Us About the Future of Urban Life.
“I am honored to have been selected to receive the Cornell Industry Leader Award, on behalf of all of my colleagues at Jonathan Rose Companies, who are turning our mission into reality every day,” said Rose. “We purchase or develop affordable and mixed income communities, and are deeply committed to making them greener, and enhancing the lives of our residents. This work is enhanced by our on-the-ground lessons, the work of our many other colleagues in the affordable housing and green building profession, and our expanding network of health care, education, open space and other organizations that we are collaborating with to build communities of opportunity.”
The Cornell Real Estate Council and the Baker Program in Real Estate welcome all interested parties to join us for the 35th Annual Cornell Real Estate Conference. Registration is available through the following website: http://www.cvent.com/events/35th-annual-cornell-real-estate-conference/event-summary-edc5936d77d74de4b85a1be11aa8550b.aspx