Mitchell N. Schear ’80 was recently featured in the Washington Business Journal for challenging the Washington, D.C. region’s real estate community to raise $1 million for an after-school program-and seeing that goal met. Schear is the head of Vornado Realty Trust’s affiliate in Washington, D.C. and oversees the development of innovative high profile projects.
The article noted, “Shear said this year’s event raised just over $1 million – $1,060,000, to be precise, with additional donations expected in the days to come.”
As president of Vornado/Charles E. Smith, Schear oversees the region’s largest office portfolio with a total of 18 million square feet. He opened the first office building in metropolitan D.C. designed to Platinum level LEED standards. LEED certification is the industry recognized standard for measuring building sustainability and Platinum is the highest attainable level in the LEED rating system, which is measured by the U.S. Green Building Council through a rigorous third-party evaluation. This new trophy property, PNC Place, is 350,000-square-foot and will be the new regional headquarters for PNC Financial Services Group Inc. This is in addition to a property at 1999 K Street, NW that Vornado/Charles E. Smith completed in 2009, which was one of the highest price per square foot sales the market has ever seen.
Some of his other accomplishments include recognition in 1985, 1986 and 1987 by the District of Columbia Association of Realtors as one of the top 10 producers of commercial real estate leases. In 2007, Schear received the Achievement Award from the District of Columbia Building Industry Association. The award recognizes leaders that have made extraordinary contributions to both the D.C. real estate industry and the D.C. community. It is one of the most prestigious honors in D.C.’s real estate community. In October of the same year, Washingtonian Magazine named Schear to the list of 150 “Movers and Shakers” in D.C. who are not politicians. He was named recipient of the Commercial Property Executives 2010 Executive of the Year award, one of the highest honors in commercial real estate.
During his time at Hobart, Schear was an individual studies major and graduated with Honors. He was instrumental in founding and running the student activities center, was a member of the Hobart track team and was a Dean’s list student. He also was a Druid and received the Roger Frankel award for the greatest contribution to the Hobart community during his four years.
The full article follows.
Washington Business Journal
D.C. Real Estate Community Responds to Higher Achievement Goal
Daniel J. Sernovitz • Staff Reporter • October 19, 2012
D.C.’s real estate community responded to a call by Vornado/Charles E. Smith President Mitchell Schear to raise $1 million or more for Higher Achievement D.C. Metro.
A little more than a year ago, Vornado/Charles E. Smith President Mitchell Schear put out a stiff challenge to the region’s real estate community. At the annual Higher Achievement D.C. Metro gala, he asked the region’s real estate brokers and developers to raise at least $1 million for the after-school program aimed at helping city youth make it through high school and go on to college.
That might not seem like much, except when compared to prior years. The event raised just $318,000 in 2009, but trended upward since to $557,000 in 2010 and $815,000 last year. So how did the region’s real estate community respond?
At this year’s event, held Thursday at the Warner Theater, Schear reported that the region’s real estate community more than lived up to the challenge. With sponsors ranging from Arnold & Porter LLP and Clark Construction Group LLC to Quadrangle Development Corp., Shear said this year’s event raised just over $1 million – $1,060,000, to be precise, with additional donations expected in the days to come.
“We did, in fact, each and every one of you helped us make our goal,” Schear said. What’s more, Schear said, the donor pool increased from 137 givers last year to 207 this year. Schear didn’t up the ante for next year’s event but called on supporters to maintain their support level from this year to ensure Higher Achievement has a stable source of sponsorship in the years to come.