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The NAIOP + Prologis Inclusion in CRE Scholarship is awarded to 15 awardees annually across the United States for outstanding dedication and commitment to networking organizations in Commercial Real Estate as well as leadership in advancing the mission of diversity, equity, and inclusion in the sector. Awardees are matched with mentors from Prologis, as well as given the chance to attend an all-expenses paid trip to either of NAIOP’s I.CON East/West conferences, where they are recognized for their achievements. Roushan Kwatra attended the I.CON West conference in Long Beach, CA where he had the chance to network with his fellow awardees as well as industry veterans and professionals from companies like Prologis, Pannatoni Development, Altus Group etc. Roushan was the only awardee from NAIOP’s Washington State chapter in 2024 and is grateful to the chapter for their continued support of his goals in the commercial real estate space.

Read more about Roushan on NAIOP’s website here

Congratulations Roushan!

Each year at the Undergraduate Research Symposium nearly 1,000 undergraduate students from all three UW campuses and other local institutions present their research spanning over 100 disciplines.

Hanson Dai, a senior majoring in Real Estate, recently delivered an oral presentation discussing his work in collaboration with Professor Arthur Acolin at the University of Washington’s 2024 annual Undergraduate Research Symposium. Along with Professor Acolin, Hanson has been researching the effects of various rent measures on tracking inflation rates in the United States. Making up forty percent of the Consumer Price Index, accurate and timely rental data is critical in ensuring well justified decisions relating to the micro and macro economy. Through literature review and statistical analysis of various datasets, Hanson presented the discoveries he made with Professor Acolin regarding trends surrounding the housing market and economy. Click here to watch a recording of his presentation.

In recent years, the Washington legislature has enacted significant legislation intended to increase capacity for residential development in urban areas and thereby make housing more affordable. It is well understood that unnecessarily restrictive regulatory constraints are among the key factors leading to the inadequate supply and high cost of housing. This legislation directly targets these kinds of constraints.

A new report from the Washington Center for Real Estate Research focuses on the impacts of two key pieces of legislation: HB 1923 and HB 2343, enacted in 2019 and 2020, respectively. These provided grants to help municipalities develop and implement housing action plans intended to identify potential actions, including code changes, to enhance residential building capacity. Based on surveys of municipalities and administrative data from the Washington Department of Commerce, the report concludes that some 64% of grant recipients have adopted various types of code changes intended to facilitate the development of affordable housing.

The report can be found here: https://wcrer.be.uw.edu/research-reports/.

 

The University of Washington Real Estate Club held another successful event on April 5 in Gould Hall.  Organizer, Kevin Cao of Gemsdale, a frequent graduate student mentor, organized a diverse group of International MSRE graduates, who offered their unique perspectives and guidance on career exploration and networking. The panelists proved particularly adept at advising attendees on how to bridge cultural gaps with internal and external stakeholders, and blend into their future workplace. Moderator, Vivien Chim, kept the questions flowing and the students had numerous follow up questions as well.  This well attended event was peppered with current MSRE students,. undergraduates and recent alumni.  Before and after the panel, attendees had the opportunity to put their networking skills to use by engaging with the alumni. Food and beverages were provided by current Advisory Board president Shannon Underwood. Overall, this was an outstanding event that provided invaluable insights into the real estate industry and offered exceptional networking opportunities. We look forward to hosting more events like this in the future!

Yijia Chen, MSRE Class of 2023 shares her recent experience traveling to Singapore to compete in the CoreNet Global Academic Challenge 13

A team of four graduate students in a Master of Science in Real Estate program advanced to the final round of CoreNet Global Academic Challenge 13 (AC13) in Singapore competing against more than 30 student teams from universities around the world. The team was asked to play the role of an internal corporate real estate professional for a global home appliance manufacturer in the challenge and to develop future workplace strategies given the rise of the metaverse. Ultimately, the team decided to adopt the strategy of designing for a hybrid workplace where VR and AR technologies can be applied to deal with the current and anticipated challenges of a hybrid workplace faced by both manufacturing center workers and office workers.

The UW team competed with the New York University and the University of Malaya, Malaysia in the AC13 Competition. Even though the UW did not win the cup, the Singapore experience is invaluable. The team attended a variety of exhibits, networking luncheons, and informational events during the three days of the summit. The team also met corporate real estate professionals from across the globe – Australia, India, Malaysia, London, Philippines, and Japan, just to name a few. The opportunity to exchange ideas and learn from their experiences provides an excellent opportunity to broaden the team member’s horizons and allow them to bring fresh perspectives into the Spring quarter classrooms.

A sincere thank you to Sofia, Skylar, Sakriti, Josh and other professionals from the CoreNet Washington Chapter for all of your support and guidance.

This month, cultures worldwide recognize and celebrate women’s accomplishments. In what ways, if any, has recognizing these celebrated accomplishments of women in Real Estate impacted you as a woman entering that same career field?

Celebrating the accomplishments of women in Real Estate has had a significant impact on me because representation matters. As the saying goes, “If she can see it, she can be it.” As someone interested in real estate development, it’s inspiring to attend speaker panels and see women taking their rightful place at the table. 

What prompted you to declare Real Estate as a major, and what have been some of your highlights as a student of the major?

I chose to major in Real Estate because it provides a platform for me to utilize my skills and passions in areas such as creativity, business finance, and communication. As a student, some of my highlights include serving as a Communication Manager for the Real Estate Club and representing the student body on the College of Built Environments Diversity Council. I will also be competing in Toronto, CA for my first real estate development competition at the end of this month!

Commercial Real Estate has traditionally been a male-dominated industry. How are women in today’s society working to change that narrative?

Women in today’s society are reshaping the narrative by supporting and advocating for each other. Organizations such as CREW (Commercial Real Estate Women) are excellent examples of groups that aid and encourage female professionals.

In the area of real estate, why is mentorship important to women?

Mentorship is particularly vital for women in the real estate industry as it is historically male-dominated. It can be discouraging when one’s gender results in not being taken seriously. In an industry with such highs and lows, having a mentor can assist women in navigating these challenges.

How can we empower young women interested in real estate careers?

We can empower young women interested in real estate careers by addressing gender bias, educating ourselves, and celebrating successful women in the industry as role models. Small and consistent steps lead to big change. Progress is progress, no matter how small. 

Recognizing the hard work and dedication of women in real estate has definitely empowered me to step into a leadership role in this sector, even though there’s a high barrier to entry (but see presently). It’s also a great opportunity to learn from their work ethic and make note of attributes that helped them be successful in their careers.

The Runstad Department of Real Estate is seeking applicants for Affiliate Instructors to teach undergraduate and graduate level courses during the 2023-2024 academic years.

This week a team of graduate and undergraduate real estate students presented their proposal to a panel of judges at the annual NAIOP Real Estate Challenge, a development case competition in which teams from the University of Washington, University of British Columbia, and Portland State University real estate programs compete. Students create an investment proposal for a well-located development site. This year the site was in our own back yard, the Sound Transit owned site in the University District, where a tiny home village is  currently located. The UW proposal was heavily focused on affordable housing financing including low-income housing tax credits. This was a big challenge and a great learning opportunity for the students. Several industry experts were brought in to help the students with tax credit financing, land use code for high rise development in Seattle and other design challenges for this visible and important site.

The UW had a strong team for the competition.  Although they did not take home the Bob Filley cup this year, the real world experience creating a development project from the ground up is invaluable.

A sincere thank you to Al Levine and Hal Ferris, our faculty and industry sponsors for all the time you devoted to helping the students.

2023 NAIOP Challenge UW Team

Ye Won Carey Jang, MUP ‘2023
Vivien Chim, MSRE ‘2023
Sam Jarvis, B.S. Real Estate ‘2023
Aarie Liebreich, MSRE ‘2023
Morse Lin, MSRE ‘2023
Jennifer Liu, B.S. Real Estate ‘2023
Tianyi Liu, MUP 2023
Jacob Melaragno, MUP 2023
Maren Grunnet, MUP 2023
Sam Shadkhast, MSRE ‘2024
Amy Towillis, MSRE ‘2023