Ideas to Foster Beneficial Social and Environmental Impact

The Impact Investing in Commercial Real Estate Competition is hosted annually by the University of Miami Business School and sponsored by the School’s Real Estate Advisory Board. The next competition will take place in late fall 2017 and early spring 2018.

Impact investing refers to investments made in commercial real estate projects with the intention to generate a measurable, beneficial social or environmental impact alongside an appropriate financial return. The case competition tasks teams with identifying such projects and presenting a plan for bring them to fruition

Competition Goals and Guidelines

2018 Competition

Projects to Transform Communities

Four schools were invited to the final judging, held in Miami Florida in April 2018

more about the 2018 competition

Highlights of the 2018 Competition

The University of Miami team presented “NoBe: A Sustainable and Resilient Plan for North Beach,” a $280 million five-block pedestrian-friendly town center with four residential towers, office and retail space, and a central plaza with a 50,000-square-foot community center. Of the 476 apartment units, 96 would be leased at below-market rates for lower-income North Beach residents

NoBe: A Sustainable and Resilient Plan for North Beach

 

The Cornell University MBA team – Miguel Klipstein, UM BBA ’11, Alejandor Garza and Mark Hughes proposed a creative retail-entertainment development for the eastern end of a former concrete roadway on the Rickenbacker Causeway to Key Biscayne. Under their $19.8 million “Sunset Pier” plan, shipping containers would be refurbished and transported to the 50,000-square-foot vacant fishing pier where they would be turned into restaurants, bars and retail shops. 

Sunset Pier

 

Graduate students Brian Theodore, Christian Ramos, Louis Marchetta and Owen Christensen at Rutgers, The State University of New Jersey, proposed “New Jersey City University – West Campus Redevelopment,” transforming a vacant parking lot into a $62 million mixed-use project. Under their proposal, the 22-acre site on the neglected western side of Jersey City would have a three-story commercial building with office, retail and educational space including a neighborhood pharmacy and job-training center, along with 750 new housing units.

New Jersey City University – West Campus Redevelopment

 

The New York University team of Stephanie Noyes, Sid Prabhakar, Jeffrey Slavin and Ronald Ying proposed “Broad Street Commons,” repositioning a landmark office building in downtown Newark as a $145.9 million mixed-use center. The 21-story building would have 341 apartments, including 68 with affordable rents, a job training center, health and fitness facilities and other office and retail, while retaining a Verizon data center on the fifth floor.

Broad Street Commons

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