Metropolitan Tucson Land Use Study Joins UA Economic and Business Research Center
TUCSON, Ariz. – May 7, 2009 – The Metropolitan Tucson Land Use Study (MTLUS) has a new home. With the retirement of long-time project manager Marshall Worden, MTLUS has moved from the UA’s Office of Economic Development to the Eller College of Management’s Economic and Business Research Center (EBR). Marshall J. Vest, director of EBR, will oversee the project. Longtime researcher David de Kok will continue to manage day-to-day operations.
MTLUS collects and reports the most comprehensive real estate-related statistical data for all property types in the greater Tucson area. In addition to data on developments in single-family, townhouse/condominium, and multi-family markets, data on nonresidential sectors is also analyzed. Special surveys during the first and third quarters provide detailed descriptions of some 600 office complexes and 1,200 industrial properties with 5,000 square feet or more of building space. During the second and fourth quarters, studies are conducted of 220 shopping centers and approximately 5,400 small retail and office properties along the 33 major streets.
Since 1969, the Pima County Real Estate Research Council, Inc. (PCRERC) has sponsored MTLUS, the authoritative and comprehensive study of real estate activity in Tucson and its surrounding areas. By pioneering the area of real estate data collection, the Council has developed an historical data series which is of substantial utility to the industry. PCRERC is a private, not-for-profit entity, featuring a diverse membership of real estate developers, bankers, appraisers, consultants to the real estate industry, governmental planners and demographers, and business leaders.
“Marshall Worden’s contributions have been immeasurable over the years to the Council and the real estate community. The data he has provided has been the foundation of this organization, and he helped to establish the PCRERC as one of the premier business organizations in Tucson,” says Bruce Jacobs, chairman of the PCRERC. “The Research Council looks forward to working with the Eller College and Marshall Vest, whose economic background will enhance our quarterly program.”
Acquisition of the MTLUS study further expands the Eller College’s initiatives to support the real estate community. Most recently, the College’s Department of Finance worked with industry leaders statewide to create an optional focus track in real estate for master of finance and MBA students. In addition to courses in real estate finance and real estate investment, the course includes site visits and meetings with regional developers; most recently, students traveled to Los Angeles to tour the Playa Vista Community Development.
The Eller College of Management at the University of Arizona is internationally recognized for pioneering research, innovative curriculum, distinguished faculty, excellence in management information systems, entrepreneurship, and social responsibility. U.S. News & World Report ranks the Eller undergraduate program #14 among public business schools and three of its programs are among the top 20 — Entrepreneurship, MIS, and Management. U.S. News & World Report ranks the Eller MBA Full-Time program #44 in the U.S. and #21 among public business schools. The College leads the nation’s business schools in generating grant funds for research. In addition to a Full-Time MBA program, the Eller College offers an Evening MBA program and the Eller Executive MBA. The Eller College of Management supports approximately 5,700 undergraduate and 700 graduate students on the UA campus in beautiful Tucson, Arizona.
Liz Warren-Pederson, Eller College of Management
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