Mason MRED Launches On-site Case Study Series

September 3, 2013

Alumni, Events, Other, Student Perspectives

First Stop–Penn Quarter’s CityCenterDC

citycenter2 Mason MRED Launches On site Case Study SeriesOne afternoon late this summer, thirty-five Mason MRED students and guests gathered on-site at  CityCenterDC–currently the largest urban development project underway in the US with 2.5M SF of vertical mixed use including office, apartment, hotel, restaurant, retail,condominium and public spaces. The students were there to meet with Hines director, John Mullin, and David Mayhood, president of Mayhood Companies, for a candid discussion of what it takes to successfully launch a high-end luxury development on the tail end of a Great Recession.

The answer?  At least in part—providing the right unit/amenity design (the Euro-style condos were designed by “star-chitects” Foster + Partners) and employing the right on-site sales tactics—as evidenced in the high-tech, high-concept Hines Sales Gallery, overlooking the condo units from directly across New York Avenue.

“It was great to get exposure to a high end global developer like Hines,” said Mason MRED student Chris Oursler. “It was interesting to get their insights on how to tailor a condo project to a specific buyer–and how that factors into a project’s overall success.”

hinesviewboard1 Mason MRED Launches On site Case Study Series

 

The Hines Sales Gallery video wall—designed to impress—does its job well as vividly detailed images of CityCenterDC’s luxurious amenities, high-end retail and expansive exterior spaces scroll by.

hinesmodel1 Mason MRED Launches On site Case Study Series

 

 

A highlight of the Mason MRED tour:
The Hines Sales Gallery features a full-scale, furnished model of CityCenterDC’s European style condos.  Ranging from 675 to 2675 square feet and boasting floor-to-ceiling window panels, the units offer “an entirely different feel for downtown DC,” said David Mayhood.

.

 

 

hinesbuildingmodel1 Mason MRED Launches On site Case Study SeriesHines’ detailed model of CityCenterDC’s offices, apartments, condominiums, retail and outdoor spaces offers buyers an overview of their new neighborhood.

About Janet Palmisano

I am the program coordinator for the Masters in Real Estate Development at George Mason University's School of Business.

View all posts by Janet Palmisano

No comments yet.

Leave a Reply

%d bloggers like this: