Focus On 2012 Commercial Innovation Grants: Acadiana Commercial Outlook

NAR’s Innovation Grant Program provides financial resources for new commercial programming at REALTOR® associations that have an active commercial structure. Proposals must demonstrate an impact on the REALTOR® association; new products, programs, processes, or services that improve an organization’s commercial real estate presence.

While Innovation Grant proposals are currently closed for submission, let’s take a look at some of the winning proposals in the various submission areas, starting in Louisiana with the REALTOR® Association of Acadiana.  Their REALTORS® Commercial Alliance winning proposal is called the Arcadiana Commercial Outlook (ACO).

REALTORS® Commercial Alliance of the REALTOR® Association of Acadiana

Innovation Name:
Acadiana Commercial Outlook (ACO)

Association Name:
REALTORS® Commercial Alliance of the REALTOR® Association of Acadiana

Project Summary:

The Acadiana Commercial Outlook seminar was designed to give our members as well as  industry and community leaders a yearly update on what has been happening in the  commercial real estate industry over the past year and an outlook on the year to come. The  4 hour seminar features a keynote address along with presentations on the different  aspects of commercial real estate including Retail, Office, Multi-Family and Industrial. Also  on the agenda were presentations on residential real estate and the finance/banking  industry.

The keynote address each year focuses on a hot topic that is current in the Acadiana area  affecting the commercial real estate industry. Lafayette is in the process of developing its Comprehensive Plan so the ACO committee invited the Mayor as well as the Comprehensive Planning committee chair to give the keynote presentation. In addition, the President of the University of Louisiana at Lafayette presented the University’s Comprehensive Plan.

How Did You Get Started?:

The REALTORS® Commercial Alliance Board of Directors is a very pro-active group that is always looking for ways to improve the community awareness of the REALTORS® Commercial Alliance. Already they were building a presence in the community’s leadership by meeting with several of them on a regular basis and building solid relationships. In order to continue building these relationships with other community players, the Board felt it important to begin gathering the industry information for the Lafayette area and share this with those leaders.

In addition to building this community presence, the REALTORS® Commercial Alliance decided it was relevant to create a data-sharing seminar similar to other CIDs in Louisiana in order to make this valuable information available to those in the Acadiana area. In the past, statistics, such as occupancy rates, average rental rates, etc., may have been gathered by individuals for their own use, but no group has ever gathered this data for the entire Lafayette parish and shared it with others like the RCA is doing through the Acadiana Commercial Outlook. In addition, commercial practitioners throughout the state have been requesting this type of information for our area. The REALTORS® Commercial Alliance believes the Acadiana Commercial Outlook has given them recognition as the “leading advocate of the commercial real estate industry” in our region.

Project Funding:

The Acadiana Commercial Outlook seminar is funded through sponsorships as well as a $35 registration fee. This year we were fortunate to receive a grant through the NAR Innovation Grant Program.

Read the entire report on the Commercial Innovation here. 

 

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