SCOTTSDALE, ARIZONA – In a rapidly changing world, it’s important that as an institute the Urban Land Institute (ULI) keep pace with the members and communities it serves and conveys that purpose in a way that makes it meaningful and relevant.

That’s the message conveyed by ULI Global Chairman Owen Thomas as the research and education organization drafted a new mission statement. It reads: Shape the future of the built environment for transformative impact in communities worldwide.

“Our new mission statement is supported by three commitments that expand on our objectives and explain how we deliver on our mission,” Owen said in a message to ULI members.

These mission commitments are:

• Connect active, passionate, diverse members through the foremost global network of interdisciplinary professionals.
• Inspire best practices for equitable and sustainable land use through content, education, convening, mentoring, and knowledge sharing.
• Lead in solving community and real estate challenges through applied collective global experience and philanthropic engagement

“The mission statement and commitments capture our forward-looking nature, our global footprint, and our commitment to delivering real-world impact in our communities,” Owen said. “The commitments emphasize ULI’s role in bringing together all sections of the real estate industry and the key part our members play in delivering change through knowledge sharing and applying collective experience. In keeping with our strong commitment to diversity, equity, and inclusion, we explicitly reference the need for diversity in our membership and our belief that communities can only truly thrive if they are equitable.”

The new mission statement and commitments will be rolled out in the weeks and months ahead. Owen said it’s ULI’s hope by this year’s spring meeting, all members will be consistently using the new articulation of the mission and spreading the word about ULI and its impact.

“Mission statements are often obligatory paragraphs that sound lofty but say little. The new ULI mission statement is clear, concise, straightforward and actionable,” said Heidi Kimball, Chair, ULI Arizona District Council, and Senior Vice President, Sunbelt Holdings, Inc. “It perfectly describes what ULI is, does and means to its members and the community. It’s just the right amount of aspirational.”

Following feedback from its members, ULI’s Global Board of Directors agreed it was the right time to review its mission statement to ensure that it achieved everything it wanted it to and did justice to the work of the organization.

“It’s important to say that we are not changing our mission. The same ethos of providing leadership in responsible land use and creating and sustaining thriving communities that inspired you to join ULI remains at our heart. Instead, we are articulating our mission differently to better capture the breadth, spirit, and purpose of ULI through a more memorable, more inspiring, and more relevant statement,” Owen said.

“Through the passion and dedication of its members, ULI makes positive, transformative impacts in our communities every day, and the new mission statement and commitments tell that story in a compelling and meaningful way that resonates globally and locally,” said Deb Sydenham, FAICP, Executive Director, ULI Arizona District Council.

PHOENIX, ARIZ. – CDC Small Business Finance, a community leader in the economic development field, was named Arizona’s SBA 504 Lender of the Year for the third straight year.

CDC Small Business Finance was recognized among all SBA 504 lenders in the state for the greatest loan production and impact in Arizona.

With a historically low rate (2.692% for the 25-year loan, effective through Wednesday) the SBA 504 has long been a smart and strategic tool for Arizona small business owners. It is often less expensive than leasing and buying a building allows them to invest in an asset. It offers a below-market fixed rate with only 10% down and 10-, 20- or 25-year terms.

“We’re proud that for three years in a row our Arizona office is the top SBA 504 commercial real estate lender. We work hard to help as many small business owners as possible secure the opportunity to buy a building for their business. Our deep expertise in 504 helps us close more deals and be a great partner to the small business, bank and real estate communities,” said Chris Bane, Vice President, Senior Commercial Lender with CDC Small Business Finance in the firm’s Phoenix office.

Bane and the Phoenix CDC office have helped local small businesses including Lo-Lo’s Chicken and Waffles and BBQ Island.

“The 504 loan is a smart vehicle for business owners looking to invest in their future through building and equipment ownership,” Bane said. “Through our suite of loan products, CDC Small Business Finance has helped more than 12,000 small business owners access $20.8 billion in financing across California, Arizona and Nevada.”

For non-real estate financing, CDC Small Business Finance offers a portfolio of working capital loan options.

The Phoenix office comprises Bane and Belinda Rosthenhausler, Vice President, Commercial Lender for Arizona and Nevada. For more information and current rate, visit cdcloans.com.

TUCSON, ARIZONA – Glenwood Gorgeous, LLC (Morgan Abraham and Kevin Volk, managers) bought the former Glenwood Hotel at 343 South Scott Avenue in Tucson for $1.151 million ($105 PSF).

The seller, Arizona Theatre Company, has been occupying the building for offices and storage space and was given some time after the closing to move out and consolidate across the street at 330 South Scott Avenue, where Arizona Theatre Company performs.

Originally built in 1908 as the Glenwood Hotel, it is listed on the National Register of Historic Places. The two-story 10,954-sqaure-foot building is located in the Armory Park Historic District. The seller renovated it for office use with features including the original staircase with a large skylight and high ceilings.

The transaction concluded January 25, 2021.

The buyers’ purchased it for redevelopment but have not decided yet on its best use. Buyers own a number of properties in the area.

“We are the ultimate optimists on this property as shown by the name “Glenwood Gorgeous”. It sits outside of any opportunity zones normally found downtown that could help with the redevelopment,” said Kevin Volk. “It is one block outside the Tucson Central Business District and about a mile away from the Rio Nuevo redevelopment district for those redevelopment incentives, but we are still optimistic!”

The City of Tucson is currently reviewing an expansion to its GPLET Program; that might offer help this project.

Allan Mendelsberg and Conrad Martinez with Cushman & Wakefield | Picor represented the seller. The buyers are also licensed real estate brokers, Morgan with AAG Realty and Volk with Volk Company, and were self-represented.

For more information, Mendelsberg and Martinez can be contacted at 520.748.7100 while Volk should be reached at 520.236.9003 and Abraham at 520.353.2333.

To learn more, see RED Comp #8459.