A team of Kogod graduate students won first place in a real estate case competition hosted by the Maryland/DC chapter of NAIOP, a commercial real estate development association.
The students – Blaze Cambruzzi, Jason Fudin, Michael Husken, and Sanjay Mishra - beat out multiple rival teams from Georgetown University and the University of Maryland for the win at the 2010 Capital Challenge. They earned a $10,000 scholarship award.
Cambruzzi, Fudin, and Husken are master's students in Kogod's MSFRE program; Mishra is an MBA candidate.
The judges' comments praised the students' creativity and originality as well as their responsiveness to current market conditions.
The case involved a two-block section of "NoMa" (north of Massachusetts Avenue) located near the New York Ave. station on the Metro's Red Line. The student team proposed a collegiate-themed development named "University Center" that would feature dorms and classrooms for the many schools that desire a presence near Capitol Hill.
Retailers focused on the student market – including coffee shops and a Barnes & Noble – were planned, and the design featured a central green space for views and to preserve space.
The team noted that residential student housing could likely obtain financing, even in the current market, because it would qualify for lending from Fannie Mae, Freddie Mac and the Federal Housing Administration.
Judges of the first annual Capital Challenge competition included JBG's Dean Cinkala, Eastdil's Nick Pappas, Panattoni Development's Dan Hudson, Ross' Mike Schwartzman, and architect Shalom Baranes, according to Bisnow.