UNIVERSITY OF COLORADO WINS 2017 REAL ESTATE CHALLENGE!
CU Winning Team - BRAND Partners for "Coalesce"
L to R: Chris Antonov, Daniel Nichols, Juan Nino, Connor Richardson, James Roy II, Katie Bloudoff-Indelicato, Joseph Donadio
FOR IMMEDIATE RELEASE
May 3, 2017
University of Colorado wins 2017 Rocky Mountain Real Estate Challenge
for redevelopment of Terminal at 51st in Globeville Neighborhood
DENVER, COLO. - With the momentum of the North Denver Cornerstone Collaborative, established by Mayor Michael Hancock, and the Globeville Neighborhood Plan, adopted by City Council in 2014 - Globeville presents the rare opportunity for the real estate industry to participate in redefining a community for generations of Coloradoans. In 2017, over 30 graduate students from the University of Colorado Leeds School of Business and the University of Denver Franklin L. Burns School of Real Estate and Construction Management, Daniels College of Business shared their unique redevelopment ideas for significant 20-acre assemblage in Globville known as Terminal at 51st - competing in the 2017 Rocky Mountain Real Estate Challenge, presented by Land Title Guarantee Company.
For the 15th year, NAIOP Colorado hosted the premier real estate event of the year featuring the state's best and brightest graduate students to elevate and make recommendations for a development parcel in the historic Globeville Neighborhood of Denver, Colorado. The students formed six teams to compete against one another for scholarships, future employment and the NAIOP Cup awarded to the winning school each year. Following an intensive four-month process, each school held an internal competition to determine who would represent their university at the event on May 3rd. Presenting in front of a crowd of more than 750 industry professionals, one finalist team from each of these prestigious MBA programs offered their redevelopment ideas for the Terminal at 51st site owned by JRL 51st Street, LLC.
The University of Colorado team, BRAND Partners, presented by Chris Antonov, Katie Bloudoff-Indelicato, Joseph Donadio, Daniel Nichols, Juan Nino, Connor Richardson and James Roy II claimed victory as the winners of the 15th Anniversary Rocky Mountain Real Estate Challenge, by envisioning a collaborative mixed-use development named Coalesce that is community-driven, inclusive, and dynamic. CU won the event with a proposal founded in solid fundamentals and by showing how to move the Globeville neighborhood forward as a place for people and community.
The runner up, Alcott Development Group from DU, presented by Tim Biere, Margo Black, Lauren DeBell, Greg Golding and Tommy Visconsi, made a compelling case for their Roots @ 50th, an "agrihood" or mixed-use development centered around the incorporation of a production farm as a community amenity. Scholarships were awarded to both the winning and runner-up teams totaling $10,000, courtesy of The Opus Development Company's Foundation grant.
DU Runner-Up Team - Alcott Development Group for "Roots @ 50th"
L to R: Greg Golding, Lauren DeBell, Margo Black, Tim Biere, Tommy Visconsi
In addition to taking home the coveted NAIOP Cup and receiving course credits, students involved in the Rocky Mountain Real Estate Challenge experience an enormous learning opportunity , a chance for scholarships as well as future employment. Over 150 real estate professionals from metro Denver devoted their time, energy and expertise to helping the teams along the development process.
For more information regarding the CU and DU development proposals, please click on the links below to their project summaries:
University of Colorado, BRAND Partners - Coalesce
University of Denver, Alcott Development Group - Roots @ 50th
If you are interested in learning more about the Annual Rocky Mountain Real Estate Challenge or to submit a project for the competition, please contact the NAIOP Colorado office by phone at 303-782-0155 or email.
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!
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.