Alan Nevin

Mr. Nevin is the principal at Nevin Real Estate Advisors and also serves as Director of Economic Research and Valuations for Vertex, Inc.

He serves the real estate and legal community with residential and commercial market studies, valuations, fiscal impact reports, economic damage analysis and diminution of value.

Mr. Nevin also served as Chief Economist for the California Building Industry Association and currently serves as consulting economist for the San Diego Association of Realtors and produces its monthly newsletter.

He holds a Master of Arts degree in Statistics and Research from Stanford University, a Bachelor of Arts degree in Marketing and a Master of Business Administration in Real Estate Economics from American University in Washington, D.C.

Consulting economist for the San Diego Association of Realtors and produces its monthly newsletter.


Co-founder of the UCSD Economics Roundtable and a member of the Advisory Board of the UCSD Department of Real Estate Development. He also is a member of the Real Estate Committee of the Burnham Moores School of Real Estate at the University of San Diego.  


Author of “The Great Divide”, a book on demographics and real estate. His next book “The Next Fifty Years” will be published in 2023.


Past president of the San Diego chapter of Lambda Alpha International, an international honorary land economics society and was named an “International Fellow” of that organization in 2018.


Bill Kennedy CPA

With more than three decades in real estate development, Bill has held leading roles in managing complex large-scale projects for national and international firms, lenders, and top real estate developers including BCED Development, Campeau Corp. Ottawa, Bank of America, Bank of the West, BNP Paribas, Alecta Real Estate, Taisei Corp., Lewis Community Builders, and more.

He brings strengths in acquisitions & dispositions, operations, planning & development, construction oversight, stakeholder consultations, government relations, financial analysis, and cost controls.

Bill has led development teams on 12 residential / mix-use master plans and over 35,000 units and has directly managed the cycles of acquisition, planning, entitlements, engineering, development, guest builders, marketing and dispositions of residential, multi-family and retail / commercial properties.

Licenses and Certifications:

▪    CPA License – #21035E

▪    California Real Estate Broker’s License – #01395628

▪    State of California Contractor’s License – #814256

o    B – General Building Contractor / C-12 Earthwork and Paving / C-34 Pipeline



Jeff Elden

Jeff Elden is a long-time member of the San Diego real estate community and over the years has been active as a developer and broker of residential and commercial properties.


In the early 2000’s, Mr. Elden completed the development of a series of luxury homes in La Jolla Shores, culminating with the completion of an 8,000 square foot home that sold for more than $5.0 million. In that same timeframe, Mr. Elden completed the development of a luxury four-plex condominiums two blocks from the Ocean.


Prior to his development activities, Mr. Elden provided consulting services to landowners on the development of their properties, a service that included project management from the conceptual design stage through agency approvals, construction and marketing.


In the 1980’s, he tracked loan disbursements for lenders. The projects were generally subdivisions of 20 to 110 homes. The loans ranged from $2.0 to 10.0 million. In that same timeframe, he was a mortgage brokers specializing in subdivision construction loans, including underwriting project costs and regulatory approvals of all loan submissions.


In recent years, Mr.Elden has been a Realtor, specializing in luxury homes and the sale of undeveloped properties. He is presently affiliated with Siemienowsky & Associates, a brokerage firm specializing in smaller apartment complexes. Prior to his present affiliation, he was a Realtor with Pacific Sotheby’s International Realty.



Frank Downey

With more than four decades of construction experience, Frank Downey brings his skills, knowledge and accomplishments in military, commercial, retail, casino, hospitality, multi-family residential, school and university, school construction to Fairlead, LLC.

The foundation of his career is a degree in Construction Management from Arizona State University coupled with eight years of part time and summer work as a carpenter and cabinetmaker. After college, Frank worked as a Project Engineer, Project Manager, Estimator, Chief Estimator and as Operations Manager for a variety of general contractors on the East Coast and In Southern California.

After 32 years in the general contracting industry, in 2002, Frank branched out from general contracting and began to expand his experience into consulting to the construction and real estate industries. This consulting work was a combination of independent consulting and employment by direct employment with construction management firms. 

In the nearly 15 years since, Frank has worked on projects ranging in value from tens of thousands to hundreds of millions of dollars. Frank is well known as a project leader. He is a skilled consensus builder and problem solver. His project leadership skills have been effective in all project phases from initial programming through final move in.

Currently Mr. Downey is a founder and principal of Fairlead, LLC providing construction consultation services for owners, lenders, developers and general contractors 


Fred Nagel

Mr. Nagel is co-founder and principal of Fairlead LLC, providing construction management services for owners, developers, lenders general contractors and attorneys.

During the past two decades, he has worked on projects ranging in value from tens of thousands to hundreds of millions of dollars. A valued senior manager with a pragmatic, results-oriented approach, he facilitates solutions among all parties – from owners and developers to architects, engineers and general contractors. His services have included preliminary conceptual budgeting, pro-forma review, detailed budget analysis and cost to complete projections, contract administration, cost control oversight and pay app/change order analyses and evaluations.

Throughout his career, Mr. Nagel has worked with architects and engineers on plan and specification reviews to develop cost-effective constructible solutions. And, calling upon his experience as an on-site field manager and estimator, he has provided oversight services directly to lenders, owners, general contractors, other sub-contractors and various sub-consultants during the pre-construction and construction phases of numerous projects.

As an adjunct to his construction management expertise, he has established his credentials as an expert witness. He has been frequently called upon to participate in dispute resolution and litigation cases, working directly with attorneys and triers of fact, providing valued testimony in mediation, arbitration and court trials. His firsthand real-world construction knowledge, skills have provided the credibility needed in this role.

The foundation of his construction expertise is a decade of training: attending union trade school in Northern California, joining the carpenters’ union, becoming a journeyman carpenter and emerging as a highly skilled tradesman and onsite supervisor. During this seminal period, he continued to advance his skills under the tutelage of several distinguished custom homebuilders and commercial construction developers.

After relocating to San Diego, he became a licensed general contractor, owning and operating his own business for 13 years. In addition to general contracting numerous residential and commercial remodels, he and his company gained a well-deserved reputation in the custom home market for exceptional fine finish carpentry. He later capitalized on his management and business expertise by transitioning into senior level positions with some large construction and consulting companies.



Joel Grushkin

Regional Director,

Cost Segregation Initiatives

A Cost Segregation Study is an engineer-based study of all of the individual assets purchased in a real estate transaction. This allows the taxpayer to use an accelerated depreciation schedule resulting in higher tax deductions in the early years of the purchase of a property — keeping more dollars in the business.

His cost segregation experience has encompassed studies for developers and owners of apartments, hotels office buildings, medical facilities and shopping centers.

Joel brings 40+ years of executive experience to the CSI organization. His background includes eleven years with Arthur Young & Company (now Ernst & Young) as a principal and director of the firm’s Management Services and was
also a member of AY’s National Real Estate Industry Specialty Practice Group.

Previously, Joel was a founding shareholder and Chairman of the Private Equity/Venture Capital Practice Group of DHR International, the Nation’s fifth largest, retained, executive search firm.

Joel was also Chief Operating Officer of a national consulting firm specializing in the start-up and on-going consultation to financial institutions, real estate developers, the FHLBB, and FSLIC in the areas of economic feasibility, capital formation, governance, mergers and acquisitions, business and regulatory affairs.