Victory! The Runstad Center’s student team took home the trophy winning first place in the annual NAIOP Real Estate Challenge, held March 10th at the Hyatt Regency in Bellevue. This event features teams from the University of Washington, the University of British Columbia, and Portland State University. Students from each university’s real estate program compete from January through March to create and present a development proposal for a mixed-use community project. This year’s site was TOD in the Bel-Red corridor. The 2016 Real Estate Challenge focused on three parcels to develop active TOD adjacent to the transit station, including 300 parking spaces and bike facilities, to be developed before the start of light rail service in 2023.
The Runstad Center’s team presented “Moment130”, a proposal that consisted of three mixed use residential buildings with affordable apartments, unique retail and underground shared parking.
If you weren’t able to attend the NAIOP breakfast, the team’s executive summary from the report is available online.
Congratulations to our hardworking students, and the tireless support and mentorship of our faculty sponsors, Chris Bitter and Al Levine!
Here are some renderings from the winning proposal