College of Business

 College of Business News Room 

April 3, 2009

CONTACT:
Frances Ryan, WSU CB Public Relations/Communications Coordinator
509/335-3957, frances_ryan@wsu.edu  

WSU Students Participate in Real-World Real Estate Challenge

PULLMAN, Wash. – A 14-member team of Washington State University students participated in the 6th Annual Pacific Northwest Real Estate Challenge in March. The competition marked the fourth year for WSU’s participation, where they competed with the University of Washington, the University of British Columbia, and this year’s winning team, Portland State University.

Sponsored by the National Association of Industrial and Office Properties, the participating teams from each university's real estate program work from mid-January through late March to create and present a development proposal for a multi-faceted and challenging real-world project. The competition concluded on Wednesday, March 25 with a formal presentation before NAIOP members, university representatives, and a judging panel of industry leaders. This year’s competition saw students creating a redevelopment proposal for a real-life property located in north Seattle.

WSU’s team, SeaGreen Development, created a proposal for Northgate Landing, a lifestyle development consisting of 944 residential units, 57,000 square feet of retail space, and a 216-room Doubletree Hotel. The new development would replace an existing 211-unit apartment complex built in 1951. The goals in creating the proposed development were affordability for residents in the community, environmental sustainability through innovation and design, and connectivity and integration into the Northgate neighborhood.

SeaGreen Development’s multidisciplinary team included undergraduate students majoring in business, architecture, construction management, and communications. Graduates in these fields will be working together once they enter the workforce, but have limited opportunities to work together as students. The experience of working together as students is one of the major advantages of the competition.

Financial sponsorship for WSU’s team came from Greenfield Advisors; Jameson Babbitt Stites & Lombard PLLC; Macaulay & Associates; and Kennedy Associates.

“In addition to financial support, our students were given support from a large number of business professionals who lent their expertise by working with the students on the proposal,” says Glenn Crellin, Director of the Washington Center for Real Estate Research at WSU. “The networking opportunities given to our students through this hands-on support are invaluable to their studies as well as their professional development.”

The Department of Finance, Insurance, and Real Estate is part of the WSU College of Business, which is accredited at the baccalaureate, masters, and doctoral levels by the Association to Advance Collegiate Schools of Business. The college spans the four campuses of WSU with the largest campus in Pullman and urban campuses located in Spokane, Vancouver, and the Tri-Cities area. The college conducts scholarly and applied research, and offers degree programs in a variety of business disciplines, and in hospitality business management, supplementing face-to-face offerings through innovative online learning and international programs. For more information, visit the college’s Web site at http://www.business.wsu.edu.  
WSU College of Business, PO Box 644750, Washington State University, Pullman WA 99164-4750, 888-585-5433, Contact Us