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August 24, 2010
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Real Estate News

 

Buildings Commissioner Elevated to Fellowship Status in the American Institute of Architects

The American Institute of Architects (AIA) recently announced that New York City Department of Buildings Commissioner, Patricia J. Lancaster, FAIA, has been elected to the College of Fellows. The AIA selects architects for elevation to fellowship because of their notable contributions to the advancement of architecture. Of the approximate 70,000 national members of the AIA, less than 2,500 (3.5%) have been elected to the fellowship.

Appointed as the Commissioner for the New York City Department of Buildings by Mayor Michael R. Bloomberg in April 2002, Ms. Lancaster is the Chief Administrator for the Department that regulates the safety of the more than 900,000 buildings and properties in New York City. The Department is responsible for issuing over 87,000 building permits and performing 350,000 inspections per year. The Commissioner is also responsible for implementing the first strategic plan in the history of the Department and adopting a new building code for the City. She has also been the driving force behind making the Department more transparent to the public by putting the Building Information System on the web where it is now receiving 200,000 page hits daily.

Commissioner Lancaster said, "It's a great honor to be recognized by my peers for my contributions to the public sector. Through continuous collaboration with the AIA and the Department of Buildings, I hope we can make New York City a better place to live, work and build."

Commissioner Lancaster received her Masters Degree in Architecture from the University of Washington at Seattle. She remains active in the field of education, serving on the faculty of the Real Estate Institute at New York University. In 2003, she was named "Mentor of the Year (Public Sector)" by ACE, the mentoring program for students interested in architecture, construction and engineering. She was also given the Founders' Award by the Salvadori Educational Center in Harlem. Commissioner Lancaster is also a Fellow at the New York Academy of Medicine and a Fellow at the Urban Institute for Design.

In 2003, Ms. Lancaster was given the Industry Honor Award (public category) by the Society of Marketing Professionals, Inc., and she also received the Association of Real Estate Women's "Outstanding Achievement Award" at AREW's 25th Anniversary Gala. In November 2003, the Commissioner was also named "Woman of the Year" by the Associated Builders and Owners. In 2000, Real Estate Weekly named her one of the top 100 Women in Real Estate, and in 1996 the group Professional Women in Construction named her Woman of the Year.

In addition to being a registered architect, Ms. Lancaster is also a licensed real estate broker. Her other achievements include the 2001 publication of her book, Construction in Cities: Social, Environmental, Political and Economic Concerns.

 

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Did You Know?    
 
 
Proposed Construction is properties approved for mortgage insurance prior to the beginning of construction
This means that the DE Statement of Appraised Value or Early Start letter has been issued by the DE Underwriter for the property prior to pouring of the footing. For high ratio loans, provide either the appraisal or Early Start letter AND at least three inspections (initial, framing and final) by a HUD fee approved panel inspector or approved local jurisdiction.

 


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Real Estate Terms

 


Today's Terms

Good faith estimate

Definition:
An estimate of all closing fees including pre-paid and escrow items as well as lender charges; must be given to the borrower within three days after submission of a loan application.

Appraisal

Definition:
A qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate.

Lease

Definition:
A lease is an agreement between a landlord, property owner or property manager and a tenant. The agreement covers issues such as rental amount and length of time the lease is in effect. The rental amount may include or exclude property taxes, garbage pickup fees, utility costs, property maintenance and other expenses.

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