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The seven graduate students defeated teams from University of Washington, Washington State University, and University of British Columbia. The winning proposal for Seattle’s Elliott Bay Lofts combined retail space with 285 condominium units, targeting young “creative class” workers, empty nesters, and single baby boomers. With many high-end condos opening in the downtown Seattle market, the team mitigated risks by focusing on buyers of more modest means. The proposal also called for rooftop gardens, energy saving devices, and other environmentally sustainable features, including updating an existing parking garage.
The Center for Real Estate is a joint program of the School of Business Administration, the Nohad A. Toulan School of Urban Studies and Planning, and the real estate community. The center educates future real estate professionals in finance, development planning, economic analysis, market analysis, and appraisal.