If you’re a regular reader, you’ve probably heard me talk about the Philadelphia Real Estate Council now and again. Since Llenrock is one of PREC’s founding sponsors, we’re heavily involved in the Council’s activities and work to promote research and discussion of real estate in Philadelphia and the Mid-Atlantic region. If you follow us on on Twitter, Facebook, or various other social media, you’ve probably seen that PREC has announced its second competition for real estate students: The PREC/Grosvenor Mid-Atlantic Real Estate White Paper Competition.
As the guy who’s running this competition, I’m doing a lot to hype up this opportunity. The 2013 competition had a solid first year, and I’m hoping the 2014 competition will be even bigger. What’s in it for real estate students who enter this competition?
- The chance to publish original research through an executives-only real estate organization, an achievement that looks great on a resume and can be a very useful networking tool.
- Cash prizes! First prize gets $1,000. Second prize gets $500. Third prize gets $300. Not bad for a single article!
- The opportunity to learn more about real estate conditions in the increasingly vibrant Mid-Atlantic market, which can lead to new interests and career opportunities down the road.
Real estate is an extremely diverse field. That’s why this competition is open to graduate and undergraduate students in a variety of majors and programs related to real estate: real estate development, finance, business administration, engineering, construction management, urban planning, law, architecture and design, hospitality, marketing and communications, entrepreneurship… The list goes on. Basically, if you’re currently enrolled in a college program and write an article in some way focused on real estate in the Mid-Atlantic region, it may be eligible for this competition.
Whether or not the author is from the area (this competition is open to students throughout the country), the white paper must be focused on conditions or subjects in the Mid-Atlantic region. Check out the flyer linked above for PREC’s definition of Mid-Atlantic. Basically, markets surrounding Philadelphia are included in this region, which means the article can focus on real estate dynamics in places like Baltimore, Wilmington, Atlantic City, Harrisburg, Princeton, among other markets in the area.
A very wide range of real estate subjects are open to competitors. To get a sense of the possibilities, take a look at the winning entries of the 2013 Competition:
- 1st Prize: Market Street East: A Promising Future? By Jessica Abel, Cornell University
In her fascinating article, Ms. Abel discusses the history and real estate fundamentals of Philadelphia’s Market East neighborhood. She addresses the challenges and development opportunities that can be found in this complex submarket and makes a case for the area’s resurgence.
- 2nd Prize: Pension Equity Development Partnerships: A Strategic Approach to Multifamily Development in the Mid-Atlantic Region by John Prisk, Drexel University
In this article, Mr. Prisk outlines a fundraising strategy for real estate developers in the Mid-Atlantic, demonstrating how domestic and foreign investment partnerships can boost development and opportunity in the region.
- 3rd Prize: Ecological Land Use Regulation to Mitigate Coastal Damage in Atlantic City by Renato Bruno, NYU
Mr. Bruno’s article looks at infrastructure and land use strategies on the coast of South Jersey, particularly Atlantic City’s Absecon Island. He argues for innovative funding strategies and infrastructure designed to buffer this area–and its real estate–from severe weather events.
As you can see, there are plenty of real estate-related areas that can be explored within this region, regardless of the student’s degree program or interests.
One last thing I want to mention: This year, PREC is asking competitors to register for the competition by October 21, in order to get a sense of how many competitors we will have this year. Info about registration, the white paper guidelines, and submission can be found on PREC’s website. Good luck to all our competitors!
PREC is grateful for the support of Grosvenor Fund Management, whose generosity makes the 2014 White Paper Competition possible.