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 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.
Competition Details
ROUND ONE: Development Proposal – 5 pages
ROUND TWO: Development Business Plan – 25 pages
See the UREC and Site Kick Off packets for full details.
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.
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.
The UREC team will hold information sessions at various colleges and university campuses throughout the state. These forums will include a presentation introducing the UREC and answering questions.
To schedule an information session at your school, please contact serralakomski@comcast.net.
Registration
Registration opens: Friday, Nov. 1, 2019
Team registration deadline: Thursday, Jan. 16, 2020
Site walkthrough: Saturday, Jan. 11, 2020
9:50 am Arrive at the Broadway Site
NW Corner of 300 S. & 200 E., Salt Lake City, UT
At least one team member must register prior to the deadline. Teams members may be from different schools. Team names can be changed after registration. Please see the UREC packet for more details.
Team Proposals
One-page summary deadline: Monday, Feb. 3, 2020
Five-page development proposal deadline: Monday, Feb. 17, 2020
First Round Judging
Thursday, Feb. 27, 2020
Finalist Announcement Luncheon
Thursday, Feb. 27, 2020
Development Business Plan Submission Deadline
Monday, March 30, 2020
Final Presentation and Awards Banquet
Wednesday, April 8, 2020
To learn more about the competition and how to get involved as a participant, sponsor or judge, contact MRED-Masters@Eccles.Utah.edu.
