Winner Announced for First Annual Sustainable Real Estate Development Competition
 
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Winner Announced for First Annual Sustainable Real Estate Development Competition

The Center for the Sustainable Built Environment (SBE) at the NYU Schack Institute of Real Estate has announced the winners of its First Annual Sustainable Real Estate Development Competition.

NEW YORK, March 1, 2011 - The Center for the Sustainable Built Environment (SBE) at the NYU Schack Institute of Real Estate (www.scps.nyu.edu/schack) has announced the winners of its First Annual Sustainable Real Estate Development Competition (scps.nyu.edu/sbecompetition). The winning entries were decided during the second day of SBE’s First Annual Sustainable Real Estate Conference on February 23, 2011. The competition was open to graduate students in the United States and around the globe, providing them with an opportunity to develop innovative models of sustainable real estate development and redevelopment while working together with other graduate students from a range of disciplines. The winning team received a prize of $25,000.

In first place was a design called Broad | VUE which was submitted by a team from the University of Pennsylvania School of Design & The Wharton MBA Program. Second place went to the HUDSONgreen project design, which was jointly submitted by a team from NYU Schack and Columbia University. In third place was [RE]POWER - A Redevelopment Proposal For The City of Yonkers, which was designed by a team from the Columbia University Graduate School of Architecture, Planning and Preservation.

“The primary objective of this competition was to foster innovative thinking among graduate students by connecting real estate development decision analysis, strategic planning, and social and environmental responsibility,” said Constantine Kontokosta, director of the Center for the Sustainable Built Environment. “Only by exploring new ideas can we create a vision for a more sustainable urban future - - and this goal has clearly been achieved by our first-ever student competition.” 

“In addition, this competition gives students the chance to put their work and their ideas in front of some very prominent and influential sustainable real estate professionals.  A contest like this will open a lot of doors for these winning teams, and I am certainly proud of the NYU Schack team for taking one of the prizes.”

Teams were required to select a site and develop a comprehensive proposal for a real estate development or redevelopment project that responds to a pressing environmental and/or social concern. Participants will be provided with the metrics that will be used to evaluate their work as well as the parameters for selecting their project site and subsequent development proposal.

In addition to site and development parameters, teams will be given a "problem statement" that addresses a current global priority relating to social and/or environmental sustainability. Teams are required to shape their proposal to respond to the Problem Statement, within the constraints of the rules and guidelines in a manner that is innovative, financially feasible and replicable.

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