The UNC Real Estate Development Challenge is a case competition hosted by the Leonard W Wood Center for Real Estate Studies at Kenan-Flagler Business School. An invitation-only event, the Challenge convenes 16 teams from the US’s top MBA programs to compete.
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 Associate Director Katie Hambrick.
The 2023 UNC Real Estate Development Challenge, presented by Hines, was held Feb. 23-24 at Kenan-Flagler Business School in Chapel Hill, NC. Fourteen teams from top business schools around the country tackled a development case provides by Hines, which focused on 11 acres of land adjacent to the American Tobacco Campus in Downtown Durham. Teams received the case on Thursday, February 16 and worked quickly to submit materials by Monday morning. To kick off the event, the 14 competing teams joined 27 judges from a variety of commercial real estate backgrounds for a welcome dinner with members of the Hines and UNC Wood Center for Real Estate Studies teams. On Friday, February 24, teams competed in a first round of presentations before four finalists moved onto the second round. Ultimately, the team from The University of Chicago Booth School of Business came out on top and claimed the $15,000 prize. To wrap up the event, teams and judges gathered at the American Tobacco Campus to tour the site and hear about plans for the future development.
The winning teams for the 2023 challenge: