George Mason MRED Team Wins Fourth NAIOP Capital Challenge Competition
written by Kat Grimlsey, MRED Director
Each year the DC-MD chapter of NAIOP invites teams from the Masters of Real Estate programs at George Mason, American, Georgetown, Johns Hopkins, and the University of Maryland to compete in an intercollegiate development case study competition. Each team must create a development strategy and pro forma for a case study site and then present their proposal to a panel of judges, which includes the actual site owner. The winning team receives the Capital Challenge Cup and a $10,000 scholarship.
We are proud to announce that George Mason’s MS in Real Estate Development (MRED) team won the 2018 competition! This marks our fourth victory out of the last six competitions.
Our 2018 Challenge team members worked feverishly during the brief 6-week competition period in order to create a complete development recommendation for the subject site. This year’s site, which is owned by the Washington Metropolitan Area Transit Authority (WMATA), was located on 14th Street NW in Washington, DC and is currently occupied by a WMATA bus depot. Among the challenges the team overcame in their proposal was: keeping the bus depot while preserving the building’s historic façade; working through ground-lease/air rights strategies; and finding a suitable mix of uses compatible with the surrounding low-density residential area. Not only did team members demonstrate their creative and analytical skills, but they also maintained a positive attitude despite the grueling submission deadline. The team deserves recognition for their immense effort and for bringing another victory to our MRED program!
We owe the strength of our student body to the dedicated members of our local real estate industry who join us as students to grow their networks and fill in gaps in their professional knowledge. For those interested in being a part of our future Capital Challenge teams, click here to learn more about the MRED program. Join us for Fall Term 2018!
Tags: capital challenge
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