New York Association of Realty Managers
October, 2001

REAL ESTATE EDUCATOR ESTHER MULLER DEVELOPS PLAN
with Goodstein Realty and Board of Ed to Create Affordable Housing for Teachers

Immediately Secures 200 Efficiency Apartments for Temporary Housing for Out-of-Town Teachers

With a need for more than 8,000 new teachers in the New York City public school system, real estate educator Esther Muller has teamed up with the Board of Education and Goodstein Realty to make affordable housing available to entry-level teachers from across the country. Ms. Muller developed the concept as a means to attract qualified teachers.

“I responded to an RFP in the New York Times which requested an advisor of the New York City Board of Education,” says Ms. Muller. “It occurred to me that one of the reasons we hadn't been able to attract good teachers was because they couldn't afford to live here. I felt that if presented with the right incentives, most importantly affordable housing, New York City could bring in the finest educators the world has to offer.”

While negotiating with the Board of Education, she contacted Len Bayer, president of Goodstein Realty, and discussed the opportunity of developing the project together on behalf of the teachers. The Goodstein Organization has been at the forefront of development for more than 75 years. Through Goodstein's effort, the Ramada Inn made available 200 efficiency apartments in three locations.

It is Ms. Muller's position that by mobilizing developers to create affordable housing, as well as utilizing existing housing stock from owners, and then offering it at affordable rates, teachers will be encouraged to enter the New York City public school system. In addition, the Board of Education is adding its own incentives by paying off student loans, subsidizing Masters Degree pro- grams and providing health benefits, pension plans and annuities to those committed to working with the children of New York.

Ms. Muller has dubbed the new program E=HIT, which stands for Education Equals(=) Housing Incentives for Teachers. The immediate goal of the program is to hire 8,000 teachers by year-end 2002, and the long-term goal is to attract and retain the numbers needed as determined by the Board of Education. To accomplish this task, she is continuing her efforts by contacting other members of the real estate community to participate in the endeavor.

“But 'the more the merrier', as they say,” states Muller. “This project will become a model for educational institutions all over the country, maybe the world and as befitting the greatest city in the world, New York will be the benchmark.”

As founder and president of the Academy for Continuing Education, Esther Muller has been educating real estate professionals for over ten years. Her incisive thoughts and perceptive ideas have distinguished her as an authority and often quoted spokesperson on industry issues. She now brings her talents and energies to one of the most worthwhile projects of her career. Ms. Muller holds a B.A. in Education from Brooklyn College. Along with her expertise in the real estate market, she is an acclaimed lecturer on real estate investing and a fierce advocate of quality education.