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Forum on the Future 2018 Forum on the Future 2018 Sponsored by 2 Forum on the Future 2018 INTRODUCTION daho is clearly a state in fl ux, a state that was kind of a hidden gem, but has now been discovered by the wider world. The question is what will Idaho Ibecome in the next fi ve, 10, 20 years as it grows and evolves. One city that is often discussed as a potential vision of Boise’s future is Denver, which experienced a similar trajectory of dramatic in-migration and urbanization, adding 100,000 residents in just seven years. Like Boise, Denver often lands near the top of national lists for quality of life, but not everyone is a fan. In late November, the Kansas City Star published an editorial with the headline: “Stop the Denverifi cation of Kansas City.” The headline goes on to say that a rapidly gentrifying Kansas City neighborhood “doesn’t need to be hipster friendly.” “We only have to look to the many cities that have already become islands for the advantaged to see where this is going,” the editorial states. The Star’s editorial board insists that the Denverifi cation already underway must stop “otherwise we will have more and more mountain-view prices, Rockies not included.” For better or worse, Denverifi cation is sweeping across Boise and Idaho in general - and we have the scenic views to back it up. This process is impacting everything from the price of real estate to the makeup of the workforce. So, how should the Gem State respond to ensure it grows into the best version of itself? On Dec. 4 the IBR gathered a panel of experts to give their best predictions for 2019 and be-yond. Moderator Kim Burgess, Editor of Idaho Business Review Kim has worked as a reporter and editor at newspapers in Utah, Arizona and New Mexico. Recently, she covered K-12 education at the Albuquerque Journal. As city editor for the Herald Journal in Logan, Utah, Kim led a team that won the Society of Professional Journalists’ Sunshine Award, which recognizes contributions to open government. BOISE’S EXPERTS LOOKING IN LUXURY LIVING. FORWARD: Each December, the Top: 2565 S Mill Point Lane $2,500,000 IBR gathers a variety Left: 711 W Wyndemere Drive $1,125,000 Middle: 2280 S Bluestem Lane $3,500,000 of local leaders from Right: 1415 N Promontory Road $1,090,000 various industries to speak about the upcoming year. VIEW OUR LISTINGS AT WWW.LYSIBISHOP.COM (208) 870.8292 Web Editor To place orders, make changes to your Liz Harbauer account and for other subscription or Group Publisher technical inquiries: LYSI BISHOP Graphic Designer Lisa Blossman Phone: (877)-615-9536 Heather Heater • fax: (800) 329-8478 Associate Publisher REAL ESTATE Reprints/Administrative • email: Cindy Suffa [email protected] Assistant KELLER WILLIAMS REALTY BOISE Editor Laura Clements Kim Burgess The IDAHO BUSINESS REVIEW is an Reprints available at affi liate of Bridge Tower Media. Each office independently owned & operated. Equal Housing Opportunity. Multimedia Sales Executives reprints@idahobusinessreview Autumn Kersey or email Jeanette Trompczynski [email protected] 2018 Forum on the Future 3 PANELISTS LYSI PENNY BISHOP DENNIS Lysi Bishop is the market Penny Dennis is the leader in Treasure Valley business development residential real estate manager at Layton (existing home) sales, and Construction in the founder and CEO of Boise. She received Lysi Bishop Real Estate her architect’s license (LBRE). Bishop currently in 1999, and has been oversees $172 million in in the construction annual residential real industry for 22 years, 13 estate sales out of her of those in the Treasure downtown Boise o ce. Valley. Bishop grew up in Penny is active in the Ketchum, Idaho; a er community, serving on attending the University the CREW Idaho Board, of Washington, she moved the Advisory Council to a dormant downtown for the University of Boise in the early 1990s Idaho College of Art and and began a residential Architecture and as a real estate career as member of Eagle United a single agent. Her Methodist Church. systematic, detailed approach to analyzing market trends, along with In her spare time she enjoys playing golf, skiing, reading and her concierge service, helped her grow a strong client base. spending time with her family: husband, Doug, and children Twenty- ve years later, LBRE o ers a full-service team of residential Jameson, 18 and Libby, 14. real estate specialists who have retained her hallmark personal touch. A liated with Keller Williams Realty Boise, LBRE maintains a national and international reputation, ranking eighth in the United States for Keller Williams Realty 2018 YTD production. DR. BOB JIM HOUGHTON SHIPMAN Dr. Bob Houghton is a is the President and COO professor of informatics and of Colliers International in has specialized in the hard- Boise. He previously served ware aspect of informatics. as managing director of His research focuses upon ree Ships and executive informatics security with VP & partner at Phillips human-computer integra- Edison & Company in Salt tion. Lake City, Utah. His background in infor- His career began as an matics security provides a attorney serving clients large knowledge base for in the real estate industry. sharing experiences with HI- He is a current member PAA, FERPA, and PCI data of the board of directors security standards. Professor of Big Brothers Big Sisters Houghton joined the Idaho Southwest Idaho. State University College of Shipman holds a bachelor’s Business in Spring of 2014 degree in History and where he teaches courses on Public Policy from Duke so ware and systems archi- University, a Juris Doctorate tecture, analytics, and net- Degree from the University working and virtualization. of Denver, Strum School of Dr. Houghton currently Law and a master’s degree serves as the interim associate dean of the College of Business and is in Business Administration the former systems administrator for the College. from University of Denver, Daniels College of Business. 4 Forum on the Future 2018 We invite you to Boise Centre, Idaho’s premier convention facility, is an ideal venue for meetings, conferences, tradeshows, receptions, trainings and so much more. host your next event Boise Centre Offers: • A downtown location, surrounded by restaurants, shops, hotels, culture and entertainment • 86,000 sq. ft. of customizable and flexible event space for groups of all sizes • Exceptional culinary services and a diverse menu with many locally sourced ingredients • The meeting space, atmosphere and in the Centre of it all! professional event staff to deliver unforgettable experiences Visit boisecentre.com to view interactive floor plans or to submit an event inquiry. ISU.EDU/COB INTERNATIONALLY ACCREDITED SINCE 1978. FIRST AACSB ACCREDITED BUSINESS SCHOOL IN IDAHO FIVE GRADUATE PROGRAMS. 5 MBA ONLINE | MAcc | FIRST IN IDAHO: MTax | MHA | MSHI FREE AND LOW COST BUSINESS CONSULTING. ISU.EDU/CEED 2018 Forum on the Future 5 DR. BOB HOUGHTON: I see 2019 as a position of change. We’ve What changes do you see in your own recently gone through a dramatic change with our old president retiring business in 2019? and our new president coming on board and revitalizing all aspects of the state university. There’s a feeling of hope and change. Hope and change is kind of the motto of 2019 going forward. There is a tremendous re-ener- LYSI BISHOP: I think our office growth will stay at the status quo. gization of the faculty and the students and a new sense of pride in ISU In our business, we’re expecting a slowdown in our overall real es- and that leads to better opportunities for students and the faculty to go tate market. Boise residential real estate, as all of us know, has grown into the community and have wonderful experiences with them. exponentially over the last few years. So, the slowdown we’re look- We’re seeing now a rallying effect in our community, especially in Pocatello, ing at is probably specifically related to price growth. especially around ISU. In Pocatello, as opposed to Boise, ISU is really the Looking at the background of where we have been, in 2018, we saw market driver in our area. It’s the largest employer. It’s the largest economic year-to-date in our existing home sale market at almost 15 percent engine. It has all these resources that are tied to it, that in the last fi ve years growth. So the reason for that growth is the shortage of inventory. If have been kind of hamstrung with different types of bureaucracy. So Kevin you’ve been looking for a home or reading about real estate, you’re has come in and just blown open the doors, saying nothing is a sacred cow, hearing this about shortage about inventory, we don’t have enough everything is available for change. That has kind of crept over our market. homes for the demand that’s here. Demand has pushed up our values So this year, our football team went out and actually had a winning in our market creating this new issue for us going into 2019. That issue season for the fi rst time in what feels like a decade. These are the kind is affordability. So we’re seeing some affordability come into our area of things that really make a university truly its own community. So 2019 and probably get intensifi ed in 2019 due to the expected interest rate going forward is this opportunity for growth in our programs, growth in increases. We might go up another one percent through 2019. our program offerings and growth in our community. So, bottom line, in our industry, we’re still expecting growth.
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