Development Challenge

Challenge ROI

• $30,000 in total monetary prizes for top finalist teams
• Top industry judges
• Amazing networking opportunity
• Bragging rights and a resume highlight
• Recognition from industry, alumni, peers and potential employers
• Earn Challenge swag
• Visit Chapel Hill!

Drilling down

The Case Challenge officially begins with the distribution of the challenge case on the Thursday before Challenge week. Until the Monday morning of Challenge week, teams work furiously to put together the best comprehensive solution to the development case.

Thursday evening teams gather in Chapel Hill for a welcome reception and dinner. The next day, the challenge competition begins in earnest. Using four presentation rooms simultaneously, teams present their case solutions in a 20-minute presentation, followed by 5 minutes of questions from judges who are experts in the real estate industry.

After lunch, the teams learn which four teams will move to the finals in the afternoon. The “Final Four” present again in the afternoon to the entire judging pool and the remaining teams. Prizes are presented and teams celebrate at a social that Friday night in Chapel Hill.

If you would like more information on the UNC Real Estate Development Challenge, please contact Wood Center Communication and Events Manager Kelsey Faulkner.

2025 Challenge Case

Sixteen teams of MBA students from some of the top business schools in the nation gathered in Chapel Hill in February for the 2025 UNC Real Estate Development Challenge.

For the third year we partnered with Hines to sponsor our annual case competition. This year’s case challenged students to re-imagine an existing 235,000 square foot open air retail center located in suburban San Diego, CA. Each team was tasked with crafting three potential redevelopment scenarios, evaluating each for market, design, and financial feasibility. The teams then shared a final proposal which sought to maximize the long-term viability of the project

Due to surprise winter weather across North Carolina, we were unable to hold the annual welcome dinner on Thursday. On Friday, the 16 teams competed in a first round of presentations before four finalists moved onto the second round. Following the competition, teams and judges gathered at Carolina Brewery for a true Chapel Hill experience on Franklin Street.

“At Hines, we are incredibly grateful for the opportunity to sponsor the UNC Development Challenge and to be able provide a new case each year,” said Hines Campus Programs an Partnerships Lead Lauren Zalaski. “There is so much value for us in the partnership, both from a recruiting standpoint and from an industry talent development angle. We have access to top MBAs from some of the best business schools in the country, all of whom are learning about one of our best-in-class projects, and we get to help develop the real-world skills for this next generation of commercial real estate developers.”

The winning teams for the 2025 challenge:

• 1st place: UCLA Anderson School of Management
• 2nd place: Northwestern Kellogg School of Management
• 3rd place: Texas McCombs School of Business and NYU Stern School of Business