Utah Real Estate Challenge

/Utah Real Estate Challenge
Utah Real Estate Challenge2021-05-27T13:24:37-06:00

Utah Real Estate Challenge

The Utah Real Estate Challenge (UREC) is an intercollegiate real estate development competition for undergraduate and graduate students throughout the state of Utah, which began in 2008. The competition fosters an understanding of real estate development by giving students the opportunity to prepare and present a real estate development plan to a panel of expert judges. A grand prize of $20,000 will be awarded to the student team with the most promising and economically viable Real Estate Development Plan. Second and third prizes are $10,000 and $5,000 respectively.

UREC 2021 Promo

Site Tour

Congratulations to our 2021 UREC finalists!

1st place: Foundry Group
2nd place: Empyre Development
3rd place: LMFJ Development

Congratulations to our 2021 UREC finalists!

1st place: Foundry Group
2nd place: Empyre Development
3rd place: LMFJ Development

2021 Awards Ceremony

2021 Finalists’ Presentations

Foundry Group

Empyre Development

LMFJ Development

Thank You to our Sponsors

Competition Details

ROUND ONE: Development Proposal – 5 pages
ROUND TWO: Development Business Plan – 25 pages

See the UREC packet for full details.

2021 UREC Competition Packet

See the Site packet for location details.

2021 UREC Site Preview Packet

To learn more about the competition and how to get involved as a participant, sponsor, or judge, contact Deborah.Hansen@Eccles.Utah.edu.

Each submitting team must have at least two members and no more than five. All team members must be matriculated students at a college or university in the state of Utah. A graduating student may participate if he/she completes all graduation requirements during fall semester. Successful teams have a strong combination of finance, construction, land planning and real estate development skills.

A grand prize of $20,000 will be awarded to the student team with the most promising and economically viable real estate development plan. Second and third prizes are $10,000 and $5,000 respectively.

After round one, three finalist teams will be selected to move on to the final round. Judging criteria was developed by real estate professionals from the community and is indicative of the emphasis that investors place on real estate investment opportunities.

See Judging Packet

The UREC team will hold online information sessions. These forums will include a presentation introducing the UREC and answering questions.

To schedule an information session at your school, please contact Danny Popowski at danny@wsmultifamily.com.

Registration

Registration opens: Tuesday, Dec. 15, 2020
Team registration deadline: Friday, Jan. 29, 2021

At least one team member must register prior to the deadline. Team members may be from different schools. Team names can be changed after registration. Please see the UREC packet for more details.

Register for UREC – Closes Jan. 29

Team Proposals

One-page summary deadline: Friday, Feb. 5, 2021

Submit your summary – Due Feb. 5

Five-page development proposal deadline: Friday, Feb. 19, 2021

Submit your proposal – Due Feb. 19

Five-Page Proposal Video Deadline: Sunday, Feb. 28, 2021, by midnight
Teams must submit the development proposal in video/link format to Danny Popowski (danny@wsmultifamily.com) and Deborah Hansen (Deborah.Hansen@Eccles.Utah.edu) by midnight MST on February 28, 2021.

Submit your video proposal – Due Feb. 28

First Round Judging

Thursday, March 4, 2021

Finalist Announcement

Thursday, March 4, 2021

Development Business Plan Submission Deadline

Monday, April 5, 2021 – 8 a.m.

Submit your final proposal – Due April 5

Final Presentation Video

The three finalist teams will be required to film their 10-minute presentation in person in Salt Lake City on April 5, April 6, or April 7 (one team per day). B-roll (site footage, etc.) will also be filmed that day. The filming date will be determined by a ‘draw’ by the UREC team after the finalists are chosen on March 4. Each team will be notified of their presentation date by March 5. Further details will be given at that time.

Winner Announcement

Thursday, April 22, 2021

Please continue to visit the UREC website for ongoing updates.

Sample UREC Submissions