NAIOP’s annual Real Estate Challenge (REC) matches teams from regional universities’ real estate programs in a competition focusing on a development or redevelopment project in the Puget Sound area. Teams are tasked with forming a proposed investment strategy based on the site sponsor’s needs.
Sponsored by Sound Transit and the City of Bellevue, the 2016 Real Estate Challenge subject site is TOD in the Bel-Red corridor. The Bel-Red Corridor in Bellevue is set to transition into a dense, urban, largely residential community with an active retail “main” street, a restored Goff Creek corridor and arts district. The 2016 REC focuses on three parcels to develop active TOD adjacent to the transit station that is consistent with the Bel-Red vision, including 300 parking spaces and bike facilities, to be delivered before the start of light rail service in 2023. Student teams from the University of British Columbia, Portland State University and the University of Washington will propose development solutions to satisfy the requirements of Sound Transit and the vision for the BelRed Corridor with respect to density, use and livability.
Meet the Real Estate Challenge 2016 team members at the Developing Leaders' annual St Paddy's Day Bash.