LOS ANGELES—UCLA has been awarded the coveted Silver Shovel Award at this year's NAIOP Southern California Real Estate Challenge. The annual competition challenges teams from the Ziman Center of Real Estate at UCLA's Anderson School of Business and the Lusk Center at USC's Marshall School of Business and Price School of Public Policy to come up with a concept for a piece of real estate. This year, the teams presented plans to develop to a 5.07-acre land site in the City of Inglewood near the new Rams NFL Stadium.
“The challenge was excellent this year,” Mark Mattis, Real Estate Challenge Chair and SVP with PMRG, tells GlobeSt.com. “The site that the students competed over, although albeit much smaller on five acres, is a prime corner on Prairie and Century Blvd. These young adults, future real estate professionals needed to do entitlement work, architectural work, financial analysis, debt and equity and user analysis to determine the type of tenants that would be interested in coming to a project like this. I was blown away with their thought process and presentations. Did everything make the bar? No. They came short on a couple of things, but that is why this is a great learning experience for them.”
The winning UCLA team presented a project called Tribute, a campus with 45,000 square feet of light industrial manufacturing, 17,000 square feet of retail and restaurants and a 150-room lifestyle hotel. The team, which included Nora Collins, Daniel Gates, Joseph Pfeiffer, Scotty Weber and Alyssa Koehn, said that the location would become Inglewood's “third place.”
The Inglewood site was especially timely this year because it is near adjacent to the Hollywood Park development, which is expected to dramatically revitalize the area. The students' challenge was to create a site that could serve the future community as well the community currently living there. “I thought the students did a phenomenal job working on a very difficult site that is also very high profile because it is located across the street from the future Rams Stadium and Hollywood Park development, which will completely reenergize the Inglewood,” adds Mattis. “The Forum is already considered a top-grossing venue in Southern California, and the stadium and Hollywood Park will only enhance the already huge draw to the location.”
Attendees at the annual challenge included USC Honorary Team Captain John Papadakis, a former USC football player, and UCLA Honorary Team Captain Ed Kezirian, a member of the Bruin football staff and former UCLA football player. In school spirit, the event also included commentary on the upcoming UCLA vs. USC football game, which was held over the weekend. UCLA did not fair so well in the game. USC won 36 to 14.
LOS ANGELES—UCLA has been awarded the coveted Silver Shovel Award at this year's NAIOP Southern California Real Estate Challenge. The annual competition challenges teams from the Ziman Center of Real Estate at UCLA's Anderson School of Business and the Lusk Center at USC's Marshall School of Business and Price School of Public Policy to come up with a concept for a piece of real estate. This year, the teams presented plans to develop to a 5.07-acre land site in the City of Inglewood near the new Rams NFL Stadium.
“The challenge was excellent this year,” Mark Mattis, Real Estate Challenge Chair and SVP with PMRG, tells GlobeSt.com. “The site that the students competed over, although albeit much smaller on five acres, is a prime corner on Prairie and Century Blvd. These young adults, future real estate professionals needed to do entitlement work, architectural work, financial analysis, debt and equity and user analysis to determine the type of tenants that would be interested in coming to a project like this. I was blown away with their thought process and presentations. Did everything make the bar? No. They came short on a couple of things, but that is why this is a great learning experience for them.”
The winning UCLA team presented a project called Tribute, a campus with 45,000 square feet of light industrial manufacturing, 17,000 square feet of retail and restaurants and a 150-room lifestyle hotel. The team, which included Nora Collins, Daniel Gates, Joseph Pfeiffer, Scotty Weber and Alyssa Koehn, said that the location would become Inglewood's “third place.”
The Inglewood site was especially timely this year because it is near adjacent to the Hollywood Park development, which is expected to dramatically revitalize the area. The students' challenge was to create a site that could serve the future community as well the community currently living there. “I thought the students did a phenomenal job working on a very difficult site that is also very high profile because it is located across the street from the future Rams Stadium and Hollywood Park development, which will completely reenergize the Inglewood,” adds Mattis. “The Forum is already considered a top-grossing venue in Southern California, and the stadium and Hollywood Park will only enhance the already huge draw to the location.”
Attendees at the annual challenge included USC Honorary Team Captain John Papadakis, a former USC football player, and UCLA Honorary Team Captain Ed Kezirian, a member of the Bruin football staff and former UCLA football player. In school spirit, the event also included commentary on the upcoming UCLA vs. USC football game, which was held over the weekend. UCLA did not fair so well in the game. USC won 36 to 14.
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