What is the Challenge???
The Rocky Mountain Real Estate Challenge (RMREC) is an annual event designed to serve as a learning tool for students of the University of Colorado and University of Denver’s graduate real estate programs and local business community to interface, while assisting the Project Sponsor with development options for the specific property.
A property is selected in the region that will serve as the competition site that is under control of the Project Sponsor. In 2017, we will celebrate the 15th Anniversary the Challenge that historically has placed the two graduate real estate programs against one another in creating a preferred development real estate proposal for the selected property.
Each school forms multiple student teams who are enrolled in the real estate development classes in each real estate program. Each team is charged with creating a vision for the property conducting market research on uses for the property, working with a local architectural firm (secured to participate by NAIOP) to assist them in the project’s design, refinement of the vision the respect with respect to the zoning and entitlements carried by the property. The finalists from each school are judged by a group of seasoned real estate professionals the day of the event. A traveling trophy is awarded to the winning team. The event will be held on Wednesday, May 3, 2017 at the Marriott City Center in downtown Denver to an audience of approximately 700 registrants. REGISTER NOW!
2017 PROJECT: TERMINAL AT 51st
The 2017 featured project is the TERMINAL AT 51st; an assemblage of sites located in north Denver's Globeville neighborhood and the Project Sponsor is JRL 51st Street LLC, a joint venture between real estate entrepreneurs Joe Henry, Ryan Oliver and Loren Snyder.
The Project Sponsor, JRL 51st Street LLC, recently had the property rezoned to C-MX-5 and anticiaptes that the Project will be a change agent that will transform this North Globeville neighborhood. This neighborhood has, and will, continue to see massive change with the redevelopment of the Asarco site to the north (Crossroads Commerce Park, Trammell Crow Company) and the National Western Center Redevelopment to the east.
Student teams will evaluate development opportunities on this 20 acre site to create a mixed-use development that is both responsive to the Project criteria defined in their project competition materials and market-driven factors.
The students will form teams that will compete against one another for scholarships, future employment and the NAIOP Cup (awarded to the winning school each year). In January 2017, student teams will begin a four-month period of working with industry professionals and the Project Sponsor, JRL 51st Street LLC, to analyze every aspect of the site.
The Challenge culminates with the largest real estate event in Colorado on May 3, 2017 at the Denver Marriott City Center, where students will present their recommendations to the Project Sponsor and an audience of more than 750 real estate professionals!