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Stern Students Take 2nd Place in 2014 UNC Real Estate Development Challenge

UNC Challenge Winners_body

A team of four Stern MBA students (pictured above: Steven Stein, Kathleen Urbani, Lauren Sanders and Jason Davis) took second place and a $5,000 prize in the 2014 UNC Real Estate Development Challenge. It was the first time at the annual challenge that a team from Stern placed within the top three.

The Challenge is a 16-team, invitation-only real estate case competition which focuses on development, including financial analysis, feasibility and design. The teams were presented with a hypothetical 17-acre development site in a town outside of Hangzhou, China. The students role-played a local Chinese development firm pitching their design, phasing, financial and buyout program to a US-based equity partner. Their plan was required to follow a strict set of guidelines laid out by the Chinese Land Authority that restricted the use, zoning and coverage of their program while implementing strict tax provisions. The Stern team’s plan included a mix of retail, multi-family, office, small office/home office and green space.