Dirt Work

Navigating the infrastructure, land and relationships in construction. Host Adam Morrisey interviews global leaders in the built environment exploring the people, ideas and innovations guiding the construction and civil engineering industries into the future.Emerging trends related internet of things (IOT), machine learning and artificial intelligence have continued to infiltrate how we interact with places, whether retail centers, commercial buildings or our homes. On this episode of Dirt Work, Shipshape AI co-founders Alexander Linn and Ryan Dalton join us to discuss their vision for the future of home automation.Shipshape is an early-stage start-up based in Austin, TX with the goal of making the home less expensive and demanding to own and operate through the practical application of IoT and AI technologies. Shipshape is aiming to empower the homeowner with data about the health of the critical infrastructure (think HVAC, sump pump, attic, crawl space, etc.) so that they can make proactive maintenance decisions about their homes, ultimately leveling the playing field between home owners and service providers. These technology trends have caused new risks for the homes beyond leaks and physical access due to data and cyber security. Shipshape is allowing users to continue to own their data throughout their customer lifecycle and aims to provide transparency to how this data is stored, secured and used. The application of these technologies has the potential to unlock value for a variety of individuals and organizations including energy providers, insurance companies, home owners and state legislators looking to “do good, while doing well”. Smarter homes can not only improve the health and quality of lives of users, through things like cleaner / higher quality air in the home, but also address economic inequalities related to the costliness of unexpected home repairs and maintenance. For listeners interested in keeping up on trends in home automation and technology, Linn and Dalton recommend the publications from Stacey on IOT and Mark Benioff's books Trailblazer and Beyond the Cloud.

Tosha Herron-Bruff and Jared Fitzpatrick from the Dallas Regional Chamber join Dirt Work to discuss the role that the business community plays in the development of our cities. Catch up on Past Episodes of Dirt Work!

Catchup on Past Episodes of Dirt Work!

Catchup on Past Episodes of Dirt Work!

Texas Rep. Carl Sherman joined Dirt Work for a courageous conversation on the impact of policy on urban planning and the equitability of cities.

Jaime Bravo, General Manager of Hotel Bardo, a boutique hotel in Tulum, Mexico, joined us on Dirt Work to discuss the current state and future of the hospitality industry and hotel development.

On this episode of Dirt Work, Scott Lowe, Founder and Partner of Global Architecture Firm, 5G Studio, joined us to discuss the firm’s process and culture, expansion into international markets and changes impacting the design industry.

Joseph Cahoon ( https://www.smu.edu/cox/Our-People-and-Community/Faculty/Joseph-Cahoon ) , Director of Folsom Institute for Real Estate at SMU’s Cox School of Business ( https://www.smu.edu/cox/Centers-and-Institutes/Folsom-Institute-For-Real-Estate ) , joined us on the most recent episode of Dirt Work ( https://marketscale.com/industries/podcast-network/dirt-work/ ) to discuss the cross-section of education and real estate in light of invocation and changes brought forth by the coronavirus pandemic. SMU successfully transitioned over 10,000 students to remote learning in rapid fashion. “We had been thinking about on-line education for a long time but most of the faculty was skeptical about on-line learning and while it wasn’t exactly a smooth transition, it brought about change that might have taken years in a matter of month”. A main benefit that the online education offers is the concept of “asynchronous learning”, which is the idea that students learn the same material at different times and locations, which is different than the lecture-based model. Cahoon beliefs that online learning will continue to be relevant in the education space as universities transition to a hybrid (i.e. half in-person, half-online) model. Universities were not the only groups that saw an increase in on-line learning, as LinkedIn, Coursera ( https://www.coursera.org/ ) and Udemy ( http://udemy/ ) saw tremendous increases in learning content consumed and enrollment since the start of COVID-19. Cahoon believes that the next opportunity in online learning lies within the ability to increase student engagement in the sessions. In regard to changes in the real estate landscape, Cahoon thinks that similar to the education space, that COVID-19 sped up trends that were already on-going (e.g. migration from higher to lower cost areas, certain struggling sectors of retail) and eventually thinks consumer behavior will resume to levels similar to those seen pre-COVID, especially in Class A & B locations varying, of course, across product-types. Cahoon highlighted that an often-overlooked aspect of the COVID real estate value correction is decreased property tax revenue for cities in the immediate term. However, “This may an opportunity for cities to be adaptive and creative…which maybe has a positive long-term benefit…if we create better cities, more equitable cities, cities that are healthier economically, it will only positively benefit everyone’s real estate”. For those interested in learning more on the latest real estate trends, Cahoon recommends Howard Marks’ Memos ( https://www.oaktreecapital.com/insights/howard-marks-memos ) and subscribing to the Folsom Institute’s ( https://www.smu.edu/cox/Centers-and-Institutes/Folsom-Institute-For-Real-Estate ) weekly newsletter by emailing real@smu.edu.

On this episode of Dirt Work ( https://marketscale.com/industries/podcast-network/dirt-work/ ) , we were joined by Austin Clinkscales ( https://www.linkedin.com/in/austinclinkscales/ ) , Principal at Ladera Properties ( https://www.linkedin.com/in/austinclinkscales/ ) , a real estate developer, investment firm and operator focused on the retail sector in Texas and Oklahoma, to discuss how COVID-19 ( https://www.cdc.gov/coronavirus/2019-ncov/index.html ) has impacted that already ever-changing retail real estate market. Retail is a tough business because of inherent limitations to control consumer behavior and has been impacted by many market shifts in the last several decades including the dot-com boom, the 08/09 recession and the emergence of retail alternatives such as e-commerce. Clinkscales ( https://www.linkedin.com/in/austinclinkscales/ ) believes that the silver lining of the coronavirus disruption is opportunities created by reduced competition going after new development opportunities as others in the market are working to control pandemic-related damage to their existing portfolios. COVID-19 ( https://www.cdc.gov/coronavirus/2019-ncov/index.html ) has continued to change the retail landscape across malls, power-centers (e.g. shopping centers anchored by a Walmart, Target, etc.), neighborhood retail and restaurants. While the nuances impacting each vertical differ Clinkscales ( https://www.linkedin.com/in/austinclinkscales/ ) believes that liquidity, technology, health, and general ability to increase consumer confidence will separate the winners and losers following the pandemic. For listeners interested in learning more about changes in the retail section, Austin recommends CBRE’s Global Retail Research channel ( https://www.cbre.com/real-estate-services/real-estate-industries/retail-services ).

On this episode of Dirt Work ( https://marketscale.com/industries/podcast-network/dirt-work/ ) , we were joined by Bob Campana ( https://www.linkedin.com/in/bcampana/ ) of Campana Capital ( https://www.smartbusinessdealmakers.com/articles/topic/bob-campana-lot-upside/ ) , a real estate development and investment firm based in Cleveland, OH. Born into a family of entrepreneurs, Bob told the story of his family’s manufacturing business, which he later joined, in the steel, foundry and pipe and tubing industries and shared lessons applicable to people and professions, including the importance of who you surround yourself with and finding good mentors. Bob highlighted how real estate owners can work with struggling tenants by being proactive, listening to the tenants, asking what they need to get through this and prioritizing empathy. Bob discussed how the current COVID ( https://www.cdc.gov/coronavirus/2019-ncov/symptoms-testing/symptoms.html ) pandemic is different than the previous downtowns of 08’/09’ and the market scale in 1980s. Considering the reality that “with change comes opportunity”, we took a closer look at how this pandemic may impact real estate and development in various sectors including office, industrial, residential and retail: * Industrial: “The reality is that people have to go back to work…so not sure how much impact that this pandemic will have on the industrial market.” * Office: “The office segment is going to have some changes…there may be an opportunity to for more office as tenants decrease density…however, remote is here and could likely impact the office market but the cards are still yet to be played.” * Residential: “Haven’t seen too much impact yet. There are a lot people that may be looking at their house saying, ‘this house is too big’, this house is too small, these stairs are too many, etc.’ and wondering if they need a change. To date there hasn’t been a slowdown in absorption”. * Retail: “Home delivery and drive-throughs are become more prevalent”. In the episode, we also discussed what factors would separate winners and losers in this uncertain time. Operators need to be reminded to prioritize building a strong balance sheet and multiple streams of income through diversification during good times to prepare for market adjustments. “Every time there is a market downtown, those who are not entrepreneurial and proactive are going to be on the back side,” Campana said. Regarding areas that could be areas for future opportunities, Bob believes in the Eastern Seaboard and the South East for future areas for opportunities but don’t thing any area is bullet proof. Bob is an avid reader and recommends many books, publications and other resources, Teddy Roosevelt’s Man in the Arena ( https://www.youtube.com/watch?v=UpKSgneSAeo ) speech, Napoleon Hill’s Think and Grow Rich , Dale Carnegie’s How to Win Friends and Influence People, Farnam Street Newsletter ( https://fs.blog/newsletter/ ) , and James’ Clear 3-2-1 Thursday. ( https://jamesclear.com/3-2-1 )

On this episode of Dirt Work ( https://marketscale.com/industries/podcast-network/dirt-work/ ) , we were joined by Christopher Hernandez ( https://www.linkedin.com/in/christopher-hernandez-eit-51502381/ ) of Kimley-Horn ( https://www.kimley-horn.com/ ). We broke down Civil Engineering to one of its core purposes, which is to navigate the relationship between land and the people that inhabit it. From roots in ancient Mesopotamia and the Far East, to help people protect themselves from the elements and the first irrigations, civil engineering has changed alongside civilizations and cities to address new problems related to sustainability and innovation. Hernandez ( https://www.linkedin.com/in/christopher-hernandez-eit-51502381/ ) stated that “what becomes difficult for cities through changing times, is upholding the commitments that we have already made to the inhabitants enabling them to continue to live and work in an area while also enabling the community to thrive through growth and change”. Traffic congestion currently costs the U.S. economy an estimated $160 billion in lost productivity and cause 3.1 billion gallons of wasted fuel – new technology in machine learning and data science have helped streamline many civil engineering processes, including the automation for traffic counting, allowing for new insights in urban planning to reduce transit downtime and waste, while freeing up capacity for engineers to focus the next wave of problems. Christopher ( https://www.linkedin.com/in/christopher-hernandez-eit-51502381/ ) also highlighted on an often-overlooked aspect of the real estate and development industry which is the community outreach programs such as Urban Land Institute’s Building Industry Leaders Program, a cooperative program between the Urban Land Institute and the Boys & Girls Clubs ( https://www.bgca.org/ ) (BCG) to educate and mentor BGC high school students on the diverse career opportunities in commercial real estate and give them the professional skills to become industry leaders and contributing members of the community. Hernandez was clear to mention that this is not the only program to help lift up the next generation of professionals from historically underdeveloped areas, but that the ACE (Architecture, Construction, Engineering) Mentor Program ( https://www.acementor.org/ ) has been serving the community in a similar capacity since 1994.

The majority of our nation’s 70s-era airport infrastructure is lagging behind others in the world, where airports that have essentially evolved into tourist destinations of their own. Changi Airport ( https://www.changiairport.com/ ) in Singapore, for instance, offers gardens, children’s play areas, shopping centers, a free all-day movie theater, and a recently opened “living lab” that allows Changi to create and pursue innovative ideas. Another is the customer-centric Al Maktoum International Airport ( https://www.dubaiairports.ae/corporate/about-us/dwc-dubai-world-central ) in Dubai that’s developing 12 independent, self-contained, medium-sized airports located in one site (rather than a giant hub spread across 54 square miles) that will be able to handle as many as 20 million passengers a year. With only 14 of our country’s airports making the top 100 list ( https://www.boldbusiness.com/transportation/future-airports-2030-beyond/ ) in the 2017 Skytrax awards ( https://www.worldairlineawards.com/world-airline-awards-announced-2017/ ) , it’s vital that the U.S. looks toward upgrading our airports and airlines while creating innovative solutions like new smart terminals and plane models. And it’s more than just automated checkins, biometric scanners, bag drop kiosks and public spaces—the use of VTOLs, drones and hovercrafts, railways and other forms of interesting technology will help to ensure the viability of U.S. airports as we move into the future. On the second episode of Dirt Work ( https://marketscale.com/industries/podcast-network/dirt-work/ ) , brought to you by MarketScale ( https://marketscale.com/industries/ ) and Trumont Construction ( http://www.trumontgroup.com/ ) , host Adam Morrisey ( https://marketscale.com/industries/contributors/adam-morrisey/ ) is joined by Mark Duebner ( https://www.linkedin.com/in/mark-duebner-591550175/ ) , the Director of Aviation for the City of Dallas ( https://dallascityhall.com/Pages/default.aspx ) , to discuss the role that cities play in aviation space development, the commercial impact of airports, airline relationships, and the future of aviation technologies. “Airports have moved from the 70s where the bulk of their revenues—their operating income—came from the airlines themselves. And that’s changed over time to where now probably less than half of the revenue that goes to airports across the country comes from the airline. The rest of it’s coming from non-airline revenue—what we call your concessions revenue where you buy food and drink, parking,” said Duebner. “It wasn’t that long ago, your only option to buy something to eat at an airport used to be a slice of old pizza or maybe a hot dog, and now you see celebrity chefs. We have a Stephan Pyles restaurant in our airport which was, 10 years ago, unthinkable. So, as that experience inside the airport has changed, also how airports connect with the surrounding community has changed dramatically,” he said. When asked about the commercial advantages that airports bring to a city, Duebner replied, “Well, I think from a revenue standpoint, that’s pretty clear. What we bring in the way of additional sales taxes…things like that. But from an economic development standpoint, airports are really your gateway to all the other markets in the U.S. That’s why airports and cities fight so hard to get airline service. So smaller cities, a lot of time, will even incentivize airlines to provide service between the major markets because that creates a pipeline for the business, for the commerce.” As more and more airport travelers increasingly demanding additional mobility options such as app-based rides, rental cars, taxis, rail service, etc. to transport them to city centers and other locales, space constraints are presenting real difficulties for the development of these onsite alternatives. “The challenge is now that when they built these mega-hub, large-hub airports outside the city with the idea that they’d have room to grow, no one really thought about the development of the cities growing out towards the airport, which has actually made it tougher to get to what was to be the more convenient airport,” Duebner remarked. “I think airports are really going to have to shift what they’re doing—not only from serving the air travel market—but really being more connected to the surrounding communities, the commercial development, providing, you know, additional services.”

In the first episode of Dirt Work ( https://marketscale.com/industries/podcast-network/dirt-work/ ) , brought to you by Trumont Construction ( https://www.trumontconstruction.com/ ) and MarketScale ( https://marketscale.com/industries ) , Adam Morrisey ( https://marketscale.com/industries/contributors/adam-morrisey/ ) , Director at Trumont ( https://www.trumontconstruction.com/ ) , visits with Tomas Jenneborg ( https://www.crunchbase.com/person/tomas-jenneborg ) , CEO of wec360 ( https://www.wec360.com/en/ ) ˚. wec360˚ is an up and coming Swedish 3D visualization firm that helps developers and property owners of both new construction projects and existing buildings rent out or sell spaces faster. How? Starting with a blueprint, wec360˚ combines in-depth sales information with stunning graphics, photos, VR, AR and more to present properties to potential buyers and renters in both a compelling and easy way. One of the first projects wec360˚ was contracted for was Stockholm’s Friends Arena, which opened in 2012. Via wec360˚’s 3D technology platform, project planners were able to visualize the entire arena before it even existed, allowing the developers to both market it and inform the public about what was one of Sweden’s largest construction projects at the time. From there, wec360˚ advanced into the real estate market, using their technology to help sell apartments and condos before construction began. Interestingly, in Sweden, financing for a construction project is difficult to obtain without selling the units beforehand. In fact, according to Jenneborg, developers must sell about 60% of all the units in a project before they can even start building. Due to an exceedingly high construction rate in the country between 2013 and 2017, there was a great demand for a solution that would allow developers to sell spaces during the planning stages of a building. Today, Scandinavian construction firms are using the company’s technology platform as a primary selling tool, enabling their brokers and marketing teams to sell units in the very early stages of construction. “When you don’t have a visualization—a clear visualization—on your project, then people are quite cautious when it comes to buying from a blueprint. Because you don’t understand the blueprints, because they are a bit technical, you have to convince them, and you have to build real model houses and real model apartments. With our solutions, you don’t need that, so you actually save all that money in not creating physical models.” With projects in Sweden, Norway and Finland, wec360˚ is now taking its presence to an international level, with ventures planned in New York City, Miami and Dallas as well as attendance at MIPIM in France—one of the largest real estate tradeshows on the planet. A small company with big ambitions, wec360˚ has lofty plans for 2020 including the release of the next stage of their platform which merges all of their various technologies into one single solution, as well as a video shoot for America’s PBS station showcasing the company’s technology which is set to air in March. To get more in-depth commentary about wec360˚’s impact on the real estate industry, listen to the podcast with Tomas Jenneborg HERE. And to keep up with news, insights and trends surrounding the Architecture & Design industry, stay tuned to MarketScale’s publications here ( https://marketscale.com/industries/architecture-and-design/ ).