The University of Maryland (UMD) Colvin Institute for Real Estate Development has awarded a group of graduate students in real estate development from Columbia University the top prize in the first annual Colvin Case Study Challenge. The team beat out an initial 19 entries and four semi-finalists from university programs across the nation in a juried, live competition Saturday at UMD. A second place prize was awarded to SUNY Buffalo, third place to Clemson University and an honorable mention to University of St. Thomas in Minneapolis.
The Colvin Case Study Challenge is a national retrospective written case study competition that challenges teams to document a recent innovative real estate project within the its own metropolitan region. Projects are judged on the depth of understanding of markets, project valuation, finance, urban design, entitlement processes and operational issues by leading real estate professionals. The first-place team received $10,000, with the second place and third place winners receiving $5000 and $2500, respectively.
“We were thrilled by the national response to the first Case Study Challenge,” said Margaret McFarland, Director of the Colvin Institute for Real Estate Development. “The finalists’ presentations were outstanding representations of the future of our industry and reflected the core mission of the Colvin Institute, namely, forwarding the principles of sustainable development. Our goal with the Case Study Challenge was to showcase some of the emerging, innovative talent that will soon enter the profession.”
Colvin Case Study Challenge 2016 Winners:
First Place: Jamie Horton, Tuomas Raikamo and Daniel Vega, Columbia University
Manhattanville Factory District
Faculty Advisor: Patrice Derrington; Mentor: Scott Metzner
Second Place: Amy Downing and Lisa Hicks, SUNY Buffalo
Five Hundred Seneca
Faculty Advisor: Mark Foerster; Mentor: David Stebbins
Third Place: David Bivens, Randy Clack and Wain Owings, Clemson University
Redefining the Intersection of Downtown
Faculty Advisor: Robert Benedict; Mentor: Chandles Thompson
Honorable Mention: Tina Angell, Brandon Doyle and Nathan Thorvilson, University of St. Thomas
Pioneer Endicott
Faculty Advisor: Herb Tousley; Mentor: Rich Pakonen
One of the hallmarks of the competition is the opportunity for the students to present in a professional forum and glean feedback and counsel from experts in the industry, both through mentorship and jury interaction. This year’s jury comprised leaders in real estate development and education from across the country. The Colvin Institute thanks Tom Burton, Alex Brown Realty, Baltimore, Md.; Susanne Cannon, DePaul University, Chicago, Il.; Michael Johnson, Urban Core LLC, San Francisco, Ca; Davor Kapelina, AtSite, Inc., Washington, D.C.; David Roodberg, Horning Brothers, Washington, D.C.; and Rob Rosenfeld, Rosenfeld Realty, Chevy Chase, Md., for serving on this year’s jury.
“This is an unparalleled opportunity for students to hone their professional skills and test their industry knowledge with some outstanding professionals in the field,” said McFarland.
The Case Study Challenge is named for Baltimore Developer John Colvin, who founded the Colvin Institute for Real Estate Development in 2008. The Colvin Institute for Real Estate Development supports the interdisciplinary approach of the University of Maryland’s Master of Real Estate Development curriculum that comprehensively covers finance and capital markets, law and public policy, structure and site design, construction management, property, portfolio and asset management as well as marketing and commercial leasing. Learn more about the Colvin Institute for Real Estate Development here.