San Diego, CA (May 2, 2013) – University of California, San Diego is the winner of the 2013 NAIOP San Diego University Challenge, a real estate competition among student teams from UCSD Department of Urban Studies and Planning, SDSU’s Corky McMillin Center for Real Estate and the University of San Diego’s Burnham Moores Center for Real Estate. The winners were announced at the Marriott San Diego-Del Mar on Friday, April 26, 2013.
Each team submitted an extensive written development proposal for a 52,800-square-foot downtown San Diego site within the proposed I.D.E.A. District, in advance of the event. The land parcel is owned by the City of San Diego through Civic San Diego and is bounded by Market Street, 11th Avenue, G Street and Park Boulevard. The teams also made 45-minute oral presentations of their analysis and findings the day before the winners were announced.
The winning entry was for a project entitled The Remmen (named after a historical house that currently exists at the site), a “25-story building that incorporates hyper-local retail, creative office space, underground parking and 189 micro units, as well as an additional 378 studio, 1- and 2-bedroom condominiums.” The project would also include a 2,000-square-foot rooftop brewery and an “eco roof.” Ten thousand square feet of the ground floor retail space would be dedicated to the Steve Nash Foundation, an organization dedicated to improving the lives of underserved children.
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Although this project was presented as an academic exercise, the UCSD team secured letters of interest from potential tenants. The team thoroughly examined several development alternatives in crafting its development program.
The UCSD team was comprised of Kristen Cowell, Kate Elliott, Brianna Everett, Paul Gherini, Saahil Jain and Michael Yoon. Their advisor was Jack McGrory and their coaches were Sue Peerson, AICP and Mirle Rabinowitz-Bussel, Ph.D.
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“Each team did an excellent job and presented thoughtful, well-researched development concepts that responded to the constraints and opportunities available at this site,” stated Brig Black, one of the competition judges and senior vice president at Lincoln Property Company.
Judge Anne Wilson of Community Housing Works noted in her comments that the UCSD team, “demonstrated an excellent grasp of key concepts,” and “a very thorough analysis and presentation,” citing several imaginative and insightful solutions that were key to making the development plan feasible and “in-line with the I.D.E.A. District.” The I.D.E.A. District is a 93-acre, sustainable, mixed-use development in Downtown San Diego’s East Village neighborhood that is driven by a design-services job cluster.
The panel of judges consisted of commercial real estate professionals including Black, Wilson, Mike McNerney of Lowe Enterprises, Dennis Cruzan of Cruzan Monroe and Jim Nigro of U.S. Bank Commercial Real Estate. The judges scored the entries on financial analysis; market analysis; development strategy; response to codes, regulations and environmental concerns; support for assumptions and conclusion; adequacy of written report; and responses to judges’ questions.
Assisting the students on all teams were many local professionals from the areas of architecture, development, finance, title, construction, legal, appraisal and more. U.S. Bank served as master sponsor for the competition, and additional sponsors included LPA, Pacific Cornerstone Architects and Gensler.
About NAIOP San Diego
NAIOP San Diego is a chapter of NAIOP, the Commercial Real Estate Development Association, and it comprises more than 500 members serving the local San Diego market. NAIOP is the leading organization for developers, owners and related professionals in office, industrial and mixed use/retail real estate, with 18,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiopsd.org.
