Pacific Northwest Real Estate Challenge Info

The 2010 Pacific Northwest Real Estate Challenge matches teams from Washington State University, The University of British Columbia and The University of Washington real estate programs in a competition focusing on a high profile development/redevelopment project in the Seattle Metropolitan area. The teams will be assigned the same real estate project and will be provided essential information and/or assumptions about the property. Each team will work to formulate a proposed investment strategy that, among other considerations:

• Demonstrates an understanding of the current economy, local market conditions, development and land uses that exist or can be reasonably anticipated for the property
• Contains ample information and support for evaluating costs, financing sources and economic returns to be expected from their recommended solution
• Identifies and responds to prevailing regulatory constraints, entitlement processes and local community interests
• Maximizes the value to the owner of the property

The students' final feasibility assessment and development plan recommendations will constitute a comprehensive analysis and conclusion of how to maximize the potential of the property from both a quantitative (financial) and qualitative (feasibility) standpoint.

Each school will establish and be responsible for its own team selection process and will be free to utilize both undergraduate and graduate level students. In early spring of 2010, three finalist teams, one from each school, will deliver a written analysis of their findings to a panel of judges selected by the Washington State NAIOP Chapter. Then at the competition event on March 23rd, 2010 each finalist team will present detailed oral discussions of their conclusions and recommendations to the panel of judges, and later that evening meet with the NAIOP Developing Leaders group to network with an audience of local industry leaders.

On March 24th, 2010, starting at 7:50 am, a NAIOP event where the student teams will be showcasing their proposals. This catered breakfast will be attended by professionals from throughout the Pacific Northwest who are active in commercial real estate and related industries, as well as educators and students from each of the competing schools.

The attendees will hear firsthand presentations by each school's team outlining their principal conclusions and recommendations followed by audience questions. Following judges' final deliberations, the event will be culminated with the announcement of the winning team and the presentation of the prestigious traveling trophy, The Bob Filley NAIOP Cup as well as a People’s Choice Award. Each school will be granted a $1,000 honorarium and the winning team will receive $2,500.

CLICK HERE to view the Project Overview and RFP (PDF)3mb