Utah Real Estate Challenge

Utah Real Estate Challenge 2024

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.

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

Past UREC Winners

2023 Winners

First-Place Winner

Pioneer Dev
Team Members: Russell Dilworth, Nathan Frame, Porter Openshaw, Annika Tingey, RaeLee Yancy
Proposal, Business Plan

Second-Place Winner

BCR Development
Team Members: Chase Dorius, Catherine Frost, Braxton Hackman, Braya Robbins, Ryan Ward
Proposal, Business Plan

Third-Place Winner

Cirque Studios
Team Members: Lucas Chimento, Jack Gordon, Addison Martin, Alaina Prasek
Proposal, Business Plan

Fourth-Place Winner

Altior
Team Members: Casey Bowen, Samira Marjaei, Courtney Nielsen, Valarie Williams
Proposal, Business Plan

2022 Winners

First-Place Winner

Pioneer Dev
Team Members: Bailey Johnson, Luke Littlefield, Cooper Parson, Kenley Roberts, Austin Taylor
Proposal, Business Plan

Runners-up

ARCH Group
Team Members: Austin Dent, Russ Dilworth, Blake Hanson, Hunter Murray, Kevin Peterson
Proposal, Business Plan

Runners-up

RJN Group
Team Members: Amro Al-Nimri, Morgan Julian, Scott Rojahn
Proposal, Business Plan

Resources

UREC 2024
Team Competition Packet

The packet has all the info you need to get your team ready to register for the 2024 UREC competition. It has timelines, submissions requirements, information sessions schedule, and more.

Download Packet

UREC 2024
Finalists Team Presentations
and Awards Banquet

Thursday, April 11, 2024
11 a.m. – 1 p.m.
Grand America Hotel
555 South Main Street
Salt Lake City, Utah

Please email Alicia.Brooks@Eccles.Utah.edu for information or to RSVP before Wednesday, April 3. Table sponsorships are available.

2024 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 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 2023 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: