metro

Banker from page 21

ey re a ways as mg
when they can visit."

Estate Conference, which attracts about
100 professionals and students each year.
The conference covers commercial and
residential real estate topics and includes an
internship fair that brings together students
and real estate companies.
"We've been blessed with the caliber of
speakers" he says. The next conference is
set for Feb. 13, 2015. Those interested in
receiving email updates about the con-
ference can send their email address to
Robin6s@cmich.edu.

An Improving Market
It's a good time to be in real estate,
Robinson says.
"On the residential side, the market is
booming right now," he says. "The reasons
are continued low interest rates and a lack
of inventory. New construction has been
down for a while for a variety of reasons.
People were risk averse, and banks didn't
want to lend money to build new houses.
"Companies in Metro Detroit — particu-
larly the Big Three — are doing better and
are hiring people, and with that comes a
healthy residential market"
How long will it last?
"Obviously, no one knows, but the Fed
is committed to keeping interest rates low
through 2015, so there would not be a
reason to expect a serious dip at least until
then.
"The rest of the state is also doing well.
Grand Rapids is thriving. And as people
become more comfortable financially,

—Phyllis Pazner, Fox Run resident, pictured with daughter Sher

Lubavitch Yeshiva
Given Defibrillator

there's been a huge demand for second
homes Up North. In particular, Traverse
City is growing, not just in second homes,
but also as a primary place to live"
The commercial real estate market is also
strong, he added.
"Dan Gilbert and others are investing
huge amounts of capital in Downtown
Detroit, which is starting to get a national
reputation as a renaissance city. There's lots
of new office development as well as resi-
dential development. The lofts and apart-
ments are full. That's good news for the city
and the region. In the long run, you need
a thriving downtown to have a successful
region, and Detroit has lacked a thriving
downtown for a lot of years. It's good news
for the entire region if the urban center is
doing well.
'Also, the commercial mortgage-backed
security market has returned. With debt
capital comes the ability to buy buildings,
and as the economy improves, that means
new offices, new businesses, new tenants
and growth"
Successful real estate developers take a
long-term view, Robinson says.
"When people buy properties, they're
looking at a minimum of a three- to five-
year horizon and often 10. You cant get too
worried about what happens in one year.
"In the end, nobody ever makes more
land. Real estate will always be a viable and
important business because people need
places to live, work and shop, even with the
Internee'

❑

11111

I

Fox Run in Oakland County is a great choice for retirees
who want to enjoy an active, secure lifestyle. Dining,
maintenance and 24-hour security are all handled by our
expert full-time staff. We even offer on-site medical services,
plus continuing care if your health needs ever change.
A move here is the greatest gift you can give yourself—
and the ones you love.
Learn more about Fox Run's unique
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Call 1-800-220-1318
today for your free brochure.

Fox Run

Add more Living to your Life°

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22

8622639

April 3 • 2014

n 2000, Kimberly Gillary died of
sudden cardiac arrest at age 15 due
to an undetected heart condition
called Hypertrophic Cardiomyopathy. A
competitive athlete, she was playing water
polo for her Troy Athens school team at the
time of her death. She was in good condi-
tion and had no knowledge of any heart
disease.
Her family set up the Kimberly Anne
Gillary Foundation to raise awareness
about undetected heart problems in teens.
It is a well-known fact that dozens of highly
competitive teens tragically die each year
from heart-related problems.
The Gillary family made it their mis-
sion to ensure that every Michigan
high school has one automated external
defibrillator (AED) and staff members
who are trained in CPR and how to
use an AED. Upon hearing this, Rabbi
Mendel Stein, development director of the
Lubavitch Yeshiva International School for
Chabad Leadership in Oak Park, applied
to the foundation and was granted an AED
and training.
"We are most grateful to the the Gillary
Foundation and the family for provid-
ing the AED machine to Lubavitch

Rabbi Mendel Stein and AED donor
Randy Gillary

Yeshiva, and for turning an unfortunate
tragedy into something positive by helping
others"
To date, the foundation has gifted 650
AED machines to schools in Michigan at a
cost per machine of approximately $1,600
per unit. The foundation also pays for five
staff members to be trained.
Randy Gillary, president of the founda-
tion and Kimberly's father, along with
her mother and sister, were present at
the March 11 event held at the Lubavitch
Yeshiva to say thanks for the AED machine.
"Our daughter tragically died because
there was no defibrillator available" Gillary
said. "We are determined to do all possible
to save as many young lives as we can so no
parent has to experience the grief and sad-
ness we have had to endure"

❑

