Student Team Finishes First in Statewide Competition

2013 NAIOP L to R: Steve Prochnow, Eddie Munoz, Ellen Boyer, Brent Card, Lonnie Hendry, and Fred Forgey
April 22, 2013—A team of UT Arlington graduate students in the Master of Science in Real Estate (MSRE) program came away with a first-place finish at the 2013 Texas Shoot-Out, a case study competition sponsored by the North Texas chapter of NAIOP, the association for commercial real estate development. UTA was the unanimous winner among judges, beating teams from SMU, Texas Tech, and Texas A&M.
The annual competition challenges student teams from universities across Texas to submit revitalization and development plans based involving a local real estate-oriented issue. In 2012, UTA placed third in the competition.

This year, the Texas Shoot-Out case highlighted the proposed Dallas Midtown development in North Dallas. A panel of judges graded the plans based on how effectively each team evaluated and resolved the case’s development issues including assessment of community needs, economic base, functional design, aesthetics, risk mitigation, and financial analysis.

The UT Arlington student team consisted of Ellen Boyer, Brent Card, Lonnie Hendry, Eddie Munoz, and Steve Prochnow. “We had great team chemistry and were singularly focused on winning the competition,” says the team’s captain Lonnie Hendry. “The MSRE program’s experiential approach gave us a competitive advantage. Through relevant site visits and field studies, we’ve learned firsthand from developers, property owners, and financial servicers how to apply our real estate knowledge to a real world development scenario. It was an honor to represent our university and bring the NAIOP Texas Shoot-Out trophy home to UTA.”

The team, presenting as UTA Maverick Development, proposed the redevelopment of the declining Valley View Center site near the Galleria in North Dallas. The team’s Dallas Midtown concept incorporated a sustainable, pedestrian-friendly design with signature architecture and a mix of high quality office space, retail, and multifamily housing that will complement and enhance the nearby Galleria rather than compete with it. Download the UTA Maverick Development team case.

In recognition of the team’s winning case, UTA Maverick Development presented to the North Texas Chapter of the NAIOP on April 19. Each student on the UTA team will also receive a scholarship award from NAIOP.

“The NAIOP competition is an excellent exercise for our students to apply their knowledge and analytical skills in real estate to an actual redevelopment challenge in the North Texas region.” says Fred Forgey, Executive Director of Graduate Real Estate Programs. “The team’s concept and strategies were outstanding. They confirmed the strength of our program to the region’s commercial real estate community.”

The Master of Science in Real Estate is a 36-hour cohort-based program designed to accommodate working professionals and offered at UT Arlington’s Fort Worth Center.