A community-nurturing, mix-used development with panoramic views of Greater College Park earned first place in the Spring 2025 John B. Colvin Capstone Competition. The Haven was one of five projects presented to a jury of industry experts that capitalized on the booming growth surrounding the University of Maryland and a burgeoning need for market-rate housing for young professionals.
“The students’ presentations demonstrated the breadth of knowledge that they have in the industry,” said Maria Day-Marshall, director of the Colvin Institute for Real Estate Development. “It gives me a lot of pride and joy to see their growth in the program.”
The Capstone—which challenges students to conceive a full-blown feasibility study for a real site in just one semester—is the hallmark of University of Maryland’s Master of Real Estate degree and a culmination of the skills developed during the program. With guidance from an industry mentor—this year, Jessica Jones from Terrapin Development—students leverage their knowledge of market analyses, financials and proformas, feasibility, and construction timelines to deliver a dynamic, economically viable, socially and environmentally responsible project that enhances the surrounding community.
This year’s proposal site—a double plot on Baltimore Avenue just blocks from campus’s main entrance—offered a blank, asphalt canvas for students to develop. With a front-row seat to a rapidly growing college town and the nearby Discovery District—which is quickly becoming an epicenter for innovation, research and start-ups—housing was the overarching theme, but with decidedly unique approaches, from rent-to-own units to affordable housing.
“I think they all were focused on ways to keep students in the area after they graduate, so that alums who love College Park can actually afford to stay in the area,” said Jones. “It’s a great redevelopment opportunity and you could really do anything—and that’s what I encouraged students to do, to think outside the box.”
Haven, developed by MRED candidate Lexi Fuhrman, offered six floors of residential housing atop a foundation of retail, with amenities ranging from a green roof and community garden to two expansive terraces for residents to take in city and natural views. Second place winner Jaye Nelson offered a mix of retail, office and affordable housing that includes a large public plaza, a regenerative food forest and strong community programming.
While the jury applauded each entry for their innovative development plans for College Park, they noted that Fuhrman’s project feasibility—and compelling storyline—cinched the win.
“When I presented this project, I had my grandmother in mind,” said Furhman. “I grew up watching both her and my mother make their careers in real estate, and they have been so influential for me. I wanted to honor them through this project.”
In addition to Jones, students received design help from Nick Aello '08 M.Arch '11, Melissa Arriagada '23, Kaitlyn Briller '21 M.Arch '24, Benjamin Ripley '20 ARCP '23 and Maryssa Timberlake M.Arch '17. This year’s capstone jury were Sam Bohmfalk, CPDV '20, Development Manager, Cross Street Partners; Mariachiara Baroni, MRED '16, Senior Development Manager, Hoffman & Associates and Max Glikman, Development Manager, Enterprise Community Development, Inc. The poster judge was Weishi Zhang MRED '21, Osprey Property Company.