O CAt l a n ta .co m
issue 2 - 11
$2.95
atlanta
Networking the Commercial Real Estate Industry
Energy
Management
pg. 8
Being
Prepared
Young
Professionals
Programs
pgs. 18, 20, 28
pgs. 10, 12
ATLANTA
Downtown Atlanta Project
Wins Competition
24
O C AT L A N TA .CO M
issue 2 - 11
Georgia
State
University
team wins
development
proposal
competition
with project
aimed at
redeveloping
a prime
piece of
downtown
Atlanta real
estate
I
n the annual development proposal competition, The Real Estate Investment Advisory Council (REIAC) Challenge, a team
of students from Georgia State University
impressed a panel of judges with their creativity
and project details. The winning team presented a development plan chosen by the judges to
best balance the opportunities for the site with
legal limitations and financial feasibility. The
site selected as the basis of the competition
was an important location at the intersection
of Peachtree Center Avenue, Peachtree Street
and Ralph McGill Boulevard that marks the
gateway between Midtown and the Downtown
Atlanta central business district.
The annual REIAC Challenge pits four
teams of GSU real estate graduate students
against each other in a competition to find the
best development ideas for a site. The site this
year is an approximately 3 acre parcel currently
a surface parking lot adjacent to the Imperial
Hotel and a historic church at the intersection
of Peachtree Street and Ralph McGill Boulevard. Teams make their pitch to an audience of
students and real estate professionals. The presentations are judged by a panel of experts with
$1,000 scholarships awarded to each member
of the winning team.
The site at 303 Peachtree Center Avenue
is currently owned by a partnership called
SunTrust Plaza Associates made up of SunTrust
Bank and Portman Holdings. As part of a Master’s degree program in real estate, the REIAC
Challenge organizing group provided each
student team with a site for which the teams
would propose a development project.
The Georgia State University teams spent
months researching and preparing their project
plans, presentations and support materials. The
judges considered the teams’ ability to present
the concept, answer tough questions and stay
on time. Each team also submitted a written report which addressed legal constraints,
financial feasibility, and other key issues with
the site.
Judges for 2011 REIAC Challenge
Judges for the event were local real estate
executives and academics including Doug
Sinclair, Senior Vice President of Corporate
Real Estate, SunTrust Bank, Mickey Steinberg,
Member of the Board of Directors, Portman
Holdings, Mitch Powell, CFO, Integral Group,
Jeff Warwick, Regional Executive, Bank of
America, Rachel Tobin, Commercial Real
Estate Reporter, Atlanta Journal Constitution,
and Paul Gallimore, Professor, Department of
Real Estate, Georgia State University. Judging
deliberations took place behind closed doors
and concluded with an announcement of the
winning team and applause from the large
group gathered for the event.
About Georgia State University
GSU’s Real Estate Department is the largest independent real estate program in the
United States and offers a range of degree options including a BBA real estate major,
a graduate certificate in real estate, an MBA concentration in real estate, an MS in
real estate and a Ph.D. major in real estate. U.S. News & World Report currently ranks
GSU’s undergraduate programs in the Top 10 among all colleges in the nation.
About the
Real Estate
Investment
Advisory Council
(REIAC)
Winners of 2011 REIAC Challenge
When the winning team was announced, the
following students took the stage to celebrate
their victory: Michael Hellier, Marshall Willis, Aimee Bennett, and Daniel Russell. Each of
these students is seeking their Master of Science
in Real Estate at Georgia State University and
participated in the REIAC Challenge as a part
of an advanced course in Development Project
Management.
The sponsor of the competition, the Real Estate
Investment Advisory Council
(REIAC) is a national organization comprised of investment principals and senior
executives acting as principals representing most of
the country’s major owners,
REITs, developers, pension
funds and their advisors, life
insurance companies, banks
and large individual investors.
sales?
OC ATLANTA IS LOOKING FOR
CONTRACT SALES ASSOCIATES
TO GROW OUR SUCCESSFUL
ATLANTA PUBLICATION.
WWW.OCATLANTA.COM
770.952.7030
[email protected]
issue 2 - 11
O C AT L A N TA .CO M
25