Mason Capstone Students Take on Nine-Property Project for DC Non-Profit
- Nine properties owned by DC-based Sasha Bruce Youthwork
- Seven students
- Thirteen weeks
Those were the basic parameters of the Fall 2013 Capstone project undertaken by senior students in the Mason Master of Science in Real Estate Development program.
Their mission: To help SBY officials determine the highest and best use of each property — rent, sell, renovate or otherwise.
To tackle this charge, each student took on one of properties and, as a first step, conducted zoning and market analyzes to determine the highest and best use for each site. They then had the opportunity to work with
· architectural consultant Cooper Carry to explore how that “best use” might be developed
· general contractor Clark Builders Group to determine development costs
· lender Cardinal Bank to quantify the amount of debt equity that might be required to bring the project to completion, and
· the law firm of Holland & Knight for clarification of zoning limitations.
The students’ final product on each property was a pro forma detailing the returns SBY might achieve on their investment in each project. Mason adjunct professor Michael Curran and MRED program director Bob Wulff served as project advisors.
“This was the perfect Capstone project in that it allowed each student a hands on opportunity to gain practical experience in every phase of the development process from market analysis up through the point of construction,” said Bob Wulff. “It was a terrific end to their graduate studies.”
To read the full story on the Mason MRED students Capstone project, visit the George Mason University website.
From left to right(Mason student names are bold.):
Chris Churmusi; Professor Michael Curran; Lina Hassan; Larry Fullerton, SBY Real Estate Committee; Carolyn Eaves, SBY Operations Manager; Bryan James; Kaveh Safa; SBY Founder Deborah Shore; Becky Oliver; Travis Brown, SBY Board Chairman; Mariana Sonu, and Nick Rubino.
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