Innovation and Entrepreneurship in Real Estate Awards
The University of Maryland (UMD) Colvin Institute of Real Estate Development honored five outstanding individuals on March 5, 2019, for their innovative and entrepreneurial approaches to real estate development. The 2019 Innovation & Entrepreneurship in Real Estate Awards exemplify creativity, innovation and entrepreneurship in the multi-disciplinary world of real estate development. The awards recognize creative financing and development, placemaking and community outreach that transforms neighborhoods and people’s lives. The event is sponsored by the School of Architecture, Planning and Preservation, Maryland’s Built Environment School, in conjunction with the Robert H. Smith School of Business and the A. James Clark School of Engineering.
“The 5th Annual Innovation & Entrepreneurship in Real Estate Awards celebrate individuals and companies who have made a significant contribution to the real estate industry, particularly in their communities,” said Dr. Maria Day-Marshall, Clinical Associate Professor of Real Estate Development and Director of the Colvin Institute. “We are excited to honor our 2019 recipients, who are the ‘best of the best’ in transformational, impactful real estate. These individuals inspire our Master of Real Estate Development students, alumni, the university and friends.”
Ken Ulman, UMD’s Chief Strategy Officer for Economic Development, presented the awards to the honorees listed here:
ROBERT RAUCH, President and Co-founder of RAUCH inc. and alumnus of UMD, began his career working in public works for Talbot County before entering the private sector and founding RAUCH inc. He developed The Easton Club—the city’s first planned unit development—as Easton Club East, its first active adult planned community. Rauch was just re-appointed by Governor Hogan to a five-year term on the University System of Maryland Board of Regents, and is a member of the University of Maryland Medical System Board of Directors, the University of Maryland Civil Engineering Board of Visitors and the Colvin Institute’s Council of Advisors. In 2016, RAUCH inc. was recognized as Talbot County’s Small Business of the Year and, in 2017, Rauch was named Talbot County’s Businessman of the Year.
NANCY HOOFF and JAMES CAMPBELL founded Somerset Development Company, LLC in 2000, a mission-driven, for-profit company that specializes in the redevelopment of urban communities. Based in Washington, D.C., with an office in Baltimore, Somerset focuses on the development and preservation of affordable housing, as well as mixed income, mixed-use and market-rate residential properties, to transform them into assets, while preserving the essence of community.
RAYMOND SKINNER, President of Skinner Consulting Services, LLC, has devoted over 45 years of his professional career to public service, unselfishly helping communities all over the region to spur and enhance economic and community development in their jurisdictions. Over the years, Skinner has served in roles that include Special Assistant to the Deputy Mayor for Economic Development and Executive Director of the Office of Business and Economic Development in D.C., as Director of the Department of Housing and Community Development and Executive Director of the Housing Authority in Prince George’s County and twice as the Secretary of the Maryland Department of Housing and Community Development. Following his work in the public sector, Skinner served as President and CEO of East Baltimore Development Inc. (EBDI), a not for profit community development corporation organized to manage and facilitate redevelopment of an 88-acre neighborhood adjacent to Johns Hopkins Medical Center.
W. CHRISTOPHER SMITH is Chairman and Chief Executive Officer of WC Smith, a company founded by his father in 1968. In 1986, Smith assumed his current role in the company following stints in the construction management group, finance and launching the development arm of the business. During his tenure, he expanded the company’s portfolio from specializing in rehabilitation and revitalization of challenged neighborhoods to include innovative market rate housing and commercial and office developments; he takes pride in having fostered a culture of improving quality of life for D.C. residents. In 1997, he helped form the non-profit Building Bridges Across the River, raise funds for and develop a $27 million dollar cultural arts, recreation and education facility in Southeast Washington—known as THE ARC, the Town Hall Education Arts & Recreation Campus—which was honored with the Urban Land Institute’s 2007 Award of Excellence.
“This year’s honorees are, once again, outstanding leaders in real estate development across our region,” said Donald W. Linebaugh, Dean ad interim of the School of Architecture, Planning and Preservation, “While each of their bios speaks to their financial successes, each also embodies the full range and impact of our school’s ‘Quadruple Bottom Line’ approach, creating places and spaces that are also ‘environmentally respectful, socially responsible and beautifully designed.’ We salute this year’s awardees for their commitment to making communities stronger and richer for all, and are especially proud to have a UMD alumnus, Robert Rauch, among this distinguished group.”
Master of Ceremonies Thomas R. Burton, Senior Managing Director/Chief Investment Officer at Alex. Brown Realty, Inc., kicked off the presentations by noting the multi-disciplinary nature of real estate development, then welcoming hosts Donald W. Linebaugh, Dean ad interim of the University of Maryland School of Architecture, Planning and Preservation and Darryll J. Pines, Dean of the A. James Clark School of Engineering.
The evening continued with a compelling video and a keynote conversation between Matt Slepin, creator of the podcast series Leading Voices in Real Estate, and Cedric Bobo, co-founder of Project Destined, a non-profit organization that teaches inner city youth financial literacy through the lens of real estate development.
Real estate professionals from all sectors of the industry, government leaders, along with administrators, faculty, staff, alumni and students attended the dinner and awards ceremony to celebrate the honorees and support future leaders in the profession. Proceeds from the event go towards scholarships for UMD’s Real Estate Development Program, one of only twenty-five multi-disciplinary real estate programs in the U.S.
-By Dan Novak