Real Estate Challenge Overview

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. In 2017, the REC is being hosted by NAIOP BC; the program returns to Seattle in 2018 and is now seeking committee members, including incoming committee co-chairs.

 

NAIOP Real Estate Challenge Committee Member Application

In a one-page cover letter, please comment on your preferred area of focus from the descriptions below, and address the following:

  • Why are you interested in becoming a member of the NAIOP Washington State Real Estate Challenge Committee?
  • What professional skills do you have that would help support our efforts?
  • Tell us about previous leadership experiences that demonstrate your qualifications for this role.

More information on the roles and responsibilities for the committee, activities, timeline and time requirements for the committee are listed below. Please reach out to committee co-chair Kristen Link, klink@tarragon.com, with any questions, and to submit your application.

Committee Roles & Responsibilities:

  • Co-chair (year 2): Liaison to professors, main coordinator between universities, NAIOP (including board) and the REC Committee. REC/Nexus Committee lead.
  • Co-chair (year 1): Liaison and communications for the site/site sponsor.
  • Additional Committee Members:
    • 1-2 members responsible for procuring all required participants for the competition including the judges, analysts, and mentors.
    • 1-2 members responsible for planning, coordinating and executing all events (breakfast, happy hours and tours) and sponsorships other than the site sponsorship.

Annual Timeline/Time Commitment:

Quarter 1 (Jan. – Mar.) Heavy, 1 - 10 hours per week

  • Student kickoff meeting
  • Answer/manage professor/student questions and concerns
  • Coordinate questions and information with the “Client” 
  • Coordinate the March NAIOP breakfast:
    • Line up, prep and coordinate breakfast panel
    • Coordinate breakfast venue with NAIOP staff
    • Write summary of NAIOP breakfast panel
    • Create breakfast content blurbs for email blasts
  • Coordinate the RE Challenge for March:
    • Line up, prep and coordinate assumption reviewers
    • Line up, prep and coordinate judges

Quarter 2 (Apr. – June) Medium/Light, 0 - 3 hour per week

  • Nexus program coordination/event as required:
    • Find Real Estate Exercise Sites
    • Help find and secure mentors
    • Help coordinate Happy Hour
    • Help Coordinate Tours
  • Start looking for future potential REC sites

Quarter 3 (July - Sept.) Light, 0-2 hours per week

  • Nexus program event items:
    • Happy hour assistance as required
    • Mentor coordination as required
  • Continue to look for sites (work on notifications to board/member base) and start to touch base with professors 
  • Create annual business plan and budget

Quarter 4 (Oct. – Dec.) Medium, 1-5 hours per week

  • Finalize list of potential sites (if not already complete)
  • Coordinate professors to determine site/dates for the challenge
  • Edit/write the site RFP
  • Determine and secure the student mentors. Prep the mentors for the kickoff meeting.
  • Work on sponsorships 


 Image: Artist rendering of the Bel-Red Corridor, 2016 REC site

Project Archives
2016 Real Estate Challenge: The Bel-Red Corridor
2015 Real Estate Challenge: Historic Renovation in Georgetown