2008 Woodie Awards
CMU alumnus says follow your passion
By: Heidi Fenton
Issue date: 3/21/08 Section: News
Real estate is not just a career - it's a passion.
Or at least that's how Michael Bowen sees it.
"I don't know one person I work with who doesn't love what they do," Bowen said Monday evening as he spoke to a group of almost 65 students in the IET building. "We can take a huge chunk of land and make it into a meaningful contribution to the community."
It's that very idea that has served as a launching pad for Westwood Development Group, the commercial real estate business for which Bowen serves as chairman and CEO.
The company first began with the creation of a shopping center close to its home base in Norton. That project was completed in 1998.
Since then, Westwood Development has extended its reach to the national and international levels.
Students at Bowen's presentation saw pictures and 3-D images of projects he has been involved with on the Hawaiian Islands.
He asked students to guess what the value of homes might be in one affordable housing community close to a Westwood commercial development called "Laulani Village."
After a couple of audience guesses, the price range was revealed amid a sea of quiet laughter.
"We're talking $1 million for a starter home. That's $1,000 per square foot," Bowen said. "And that's no granite - no gold plated sinks."
He went on to explain that the Hawaiian economy's largely Asian influence has played a significant role in maintaining financial stability within the country.
"Hawaii is not subject to quite the same economic cycles," Bowen said. "They've struggled, but just not as severe."
He also talked about the United States' financial market, one that many consider to be a factor of discouragement when considering the real estate industry.
"We see it as a positive," Bowen said. "It's opened up our market a lot. There is much more for us to look at, and for foreign investors too."
He explained a cooperative effort between the Westwood Development Group and the Mongolian Government to create a cultural center in the Niagara Falls area.
"It's all real, it's happening," Bowen said, "but the vast majority of opportunity is outside of the United States."
Students who attended the presentation were encouraged by the many examples of commercial success they saw.
"There is lots of financial opportunity in real estate, and that drew my attention," said Detroit senior Ryan Davis.
Farmington Hills senior Christina Smith said people in development are all very optimistic.
"You have to put your money out there though. It's risky, it's a gamble," Smith said.
news@cm-life.com
Or at least that's how Michael Bowen sees it.
"I don't know one person I work with who doesn't love what they do," Bowen said Monday evening as he spoke to a group of almost 65 students in the IET building. "We can take a huge chunk of land and make it into a meaningful contribution to the community."
It's that very idea that has served as a launching pad for Westwood Development Group, the commercial real estate business for which Bowen serves as chairman and CEO.
The company first began with the creation of a shopping center close to its home base in Norton. That project was completed in 1998.
Since then, Westwood Development has extended its reach to the national and international levels.
Students at Bowen's presentation saw pictures and 3-D images of projects he has been involved with on the Hawaiian Islands.
He asked students to guess what the value of homes might be in one affordable housing community close to a Westwood commercial development called "Laulani Village."
After a couple of audience guesses, the price range was revealed amid a sea of quiet laughter.
"We're talking $1 million for a starter home. That's $1,000 per square foot," Bowen said. "And that's no granite - no gold plated sinks."
He went on to explain that the Hawaiian economy's largely Asian influence has played a significant role in maintaining financial stability within the country.
"Hawaii is not subject to quite the same economic cycles," Bowen said. "They've struggled, but just not as severe."
He also talked about the United States' financial market, one that many consider to be a factor of discouragement when considering the real estate industry.
"We see it as a positive," Bowen said. "It's opened up our market a lot. There is much more for us to look at, and for foreign investors too."
He explained a cooperative effort between the Westwood Development Group and the Mongolian Government to create a cultural center in the Niagara Falls area.
"It's all real, it's happening," Bowen said, "but the vast majority of opportunity is outside of the United States."
Students who attended the presentation were encouraged by the many examples of commercial success they saw.
"There is lots of financial opportunity in real estate, and that drew my attention," said Detroit senior Ryan Davis.
Farmington Hills senior Christina Smith said people in development are all very optimistic.
"You have to put your money out there though. It's risky, it's a gamble," Smith said.
news@cm-life.com
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