A team of four Colorado State University finance and real estate students studying in the College of Business finished in third place, and won $2,000, for their pitch during the Villanova University Mulroy Real Estate Challenge earlier this month.
Sponsored by the Everitt Real Estate Center, the team traveled to Philadelphia for the case competition. They were tasked with consulting for a realty company on the development of a property in the heart of the city, which currently exists as a surface parking lot.
Proposed development site
The centerpiece of their plan entailed building a mixed use structure with underground parking, retail, office, and residential components, with the option to add housing units above the office space in the future.
It was an “innovative” idea, said Harry Turtle, a professor in the College of Business and chair of the Finance and Real Estate Department. The team also looked into negotiating with the city government to utilize space occupied by a nearby fire station and buying adjacent parcels of vacant land to capture the benefit of the planned new development.
“To have a finished development proposal that you can be proud of is an amazing feeling,” said Imran Bhimani, one of the real estate students who competed in the challenge. “It’s the best real world experience you could get aside from actually doing the job.”
Learn more about the College of Business Department of Finance and Real Estate.