Utah Real Estate Challenge 2025

2025 UREC Kick Off Video

Overview

The Utah Real Estate Challenge (UREC) is an intercollegiate real estate development competition for undergraduate and graduate students throughout the State of Utah. The competition fosters an understanding of real estate development by giving students the opportunity to prepare and present a development proposal to a panel of expert judges. A grand prize of $20,000 will be awarded to the team with the most promising and economically viable real estate development plan. A second-place prize of $10,000, and a third-place prize of $5,000 will also be awarded. The competition is made possible by the generous support of the Ivory-Boyer Real Estate Center Board, sponsors, mentors, judges, and faculty from participating schools.

Interested in participating or sponsoring the event? Please reach out to Alicia Brooks at alicia.brooks@eccles.utah.edu.

Resources

SAVE THE DATE
Online Information Session

Wednesday, Dec. 4, 2024
5 p.m.

Taco Night!
In-Person Info Session
and Team Networking
Wednesday, Jan. 22, 2025
Spencer Fox Eccles Business Building
7th Floor, Child Hall, 5 p.m.

2025 Competition Details

Information Sessions

We would love to have you involved in the competition! The UREC team will hold information sessions at various colleges and universities throughout the state. These forums will include a UREC presentation in December explaining the parameters of the competition with Q&A sessions. In January, we are planning an in-person info session at the U which will also offer an opportunity to meet students from other disciplines and schools so you can build your team. We will create an online team-building spreadsheet to assist with team creation. To schedule a session at your school, please contact Alicia Brooks at Alicia.Brooks@Eccles.Utah.edu.

Team Eligibility

Each team must have at least two members and no more than five members. All team members must be enrolled students at a college or university in the State of Utah. A graduating student may participate if they complete all the graduation requirements during the 2024 fall semester. Student standing will be verified by the UREC planning team. Teams may utilize unpaid outside consultants and mentors, but only registered team members are eligible for award money. Previous winning teams have had a strong combination of planning, construction, finance, and design.

Resources

Students who register for the competition may utilize educational forums and other resources to aid in the creation and implementation of their real estate development plan. UREC will provide important reminders of upcoming events, forums, key submission deadlines, and judges decisions via email and the UREC website.

More Info

Should you have any questions regarding the competition or if you’d like to arrange an information session for your school, please reach out to the following:

Alicia Brooks – Alicia.Brooks@Eccles.Utah.edu

Questions about the packet? Confused about the competition rules? Reach out to the following:

Russ Dilworth – russ.dilworth@utah.edu
Samuel McConkie – Sam.Mcconkie@gmail.com

Awards

First-Place
$20,000

Second-Place
$10,000

Third-Place
$5,000

Competition Timeline

Team Registration Opens
Friday, Jan. 24, 2025, 8 a.m.

Team Registration Deadline
Friday, Feb. 14, 2025, 5 p.m.

5-page Development Proposal Submission Deadline
Friday, Feb. 28, 2025, 5 p.m.

First-Round Judges Presentations
Wednesday, March 5, 2025, 8:30 a.m.

25-page Development Business Plan Submission deadline
Monday, April 7, 2025, 5 p.m.

Finalist Presentation and Awards Luncheon
To be announced.

2024 UREC Winners

First-Place Winner

Red Arch Development: The Outfield

The Outfield is a 216-unit mixed-use development, prominently featuring a public library, situated in the heart of the Ballpark neighborhood. With a strong emphasis on promoting family values, this project creates a new nexus that preserves the authentic history of the neighborhood while providing housing opportunities for families of all backgrounds to live within the community.

Team Members: Sagan Gotberg, Kristofer Long, Vance Siebers, and Camden Woll

View The Winning Proposal
View The Winning Business Plan

Second-Place Winner

Revive Development Group: Fender Station

Fender Station is a mixed-use project located in the Ballpark neighborhood, just northwest of the Bees stadium. The project includes market-rate and affordable apartment units, townhomes, condos, retail, and restaurant space. This site accommodates the growing demand in the area for rentable and for-sale living space in the area. It serves to establish an enduring urban village, characterized by a community of long-term residents.

Team Members: Ted Arlington, Rex Buys, Harrison Merrill, Kennedy Perry, and Peter Redd

View The Winning Proposal
View The Winning Business Plan

Third-Place Winner

Apis Partners: The Diamond District

The Diamond District is a pioneering development to the Ballpark neighborhood, promising to enhance community safety, stimulate small business growth, and foster local engagement through a mix of retail spaces, for-rent apartments, and for-sale townhomes. This initiative seamlessly meets the city’s diverse needs and aspirations while ensuring profitability through innovative financing and leveraging city programs. Financial strategies include securing a loan from the RDA, tapping into the state’s H.B. 572 program for affordable housing, and utilizing townhome sales to reduce construction loan interest. Design-wise, the project emphasizes accessibility to TRAX, family-friendly amenities, ground-floor retail, and extensive green spaces, aligning with a vision of community and environmental consciousness. Collectively, these efforts highlight the project’s dedication to creativity, innovation, and long-term value for the Ballpark community.

Team Members: Eli Falk, Payton Smoot, Molly Sutherland, Spencer Ward, and Matt Wilcox

View The Winning Proposal
View The Winning Business Plan