College Park, MD--A student team from the UM School of Architecture, Planning and Preservation, Master of Real Estate Development Program (MRED) won first place and $15,000 in a national real estate development case competition. Nineteen teams from around the country submitted entries.
The REIDO competition, hosted by the George Washington University Real Estate Investment and Development Organization, consisted of six finalist teams presenting a full-scale redevelopment plan for a site in Rosslyn, Va. near I-66. The proposals focused on three key components: creativity, economic feasibility and design.
In their entry, the Maryland students from the Colvin Institute of Real Estate Development proposed transforming the site into 'Roosevelt Gateway,' a mixed-use, pedestrian-friendly environment with a luxury hotel, street-level shopping and sweeping public spaces. The standout feature was an arching pedestrian walkway connecting Rosslyn to Roosevelt Island - a National Park Service site just beyond the reach of the city.
The MRED team brought expertise in multiple disciplines including real estate development, architecture, urban studies and planning and historic preservation. The team members include Peter Mellen (Team Leader), Tyler Abrams, Eric Raasch, Tiffany Williams, Robert Goodspeed and Malav Patel.
"The students' plan reflects our approach of a 'quadruple bottom line' -- finance of course, but also environmental sustainability, community cohesion and beautiful design," says Margaret McFarland, Director of the Colvin Institute and the Master of Real Estate Development program. "Our students brought a fresh, comprehensive and practical perspective to their plan. It proposes not only a beautiful new asset for the community, but a design that adds space that can be developed, while enhancing the ever-important financial bottom line. That's a winning combination."
The UM MRED team was sponsored by Robert Rosenfeld, adjunct professor of finance in the MRED program and President of JBG Rosenfeld Retail. McFarland and Julie Smith, MRED adjunct professor of property management and President of Bozzuto Management, served as the team's mentors.
Another team from the University of Maryland Robert H. Smith School of Business was also a finalist.
The competition, held on April 5, was sponsored by Vornado/Charles E. Smith and the Gould Property Companies.
The mission of the School of Architecture, Planning & Preservation at the University of Maryland is to advance the leadership and effectiveness of the disciplines responsible for designing, planning, developing and preserving the health and integrity of the physical environment. This is accomplished through integrated education programs (at the undergraduate, graduate, professional and Ph.D. levels), funded research and creative work (in all our fields), and community and professional service. For more information, e-mail us or call 301.405.8000.