VANCOUVER, BC--(Marketwired - January 12, 2017) - TransLink and the Commercial Real Estate Development of Metro Vancouver (NAIOP), have partnered to host the 14th Annual Pacific Northwest Real Estate Challenge for the first time in Canada. University of British Columbia students will compete against students from the University of Washington and Portland State University to propose a mixed-used, master planned community for TransLink's Coquitlam Central Station. The competition will kickoff at a launch event taking place at Douglas College David Lam Campus on Saturday, January 14th at 1pm.
"We want this station to become a community hub that embraces the principles and philosophy of a transit oriented development," said Guy Akester, Director of Real Estate Programs & Partnerships at TransLink. "The site needs to be highly walkable, offer a great mix of uses, and engages with the transportation infrastructure in a positive way. We're excited to see what the students propose while preserving the transit functionality of the site."
The Pacific Northwest Real Estate Challenge matches teams from university real estate programs in a competition focusing on a high profile development project in a major metropolitan area. Though UBC has participated in this event before, this is the first time the competition will be hosted in Canada.
"This Real Estate Challenge offers a great opportunity for students to work on a real world, challenging case, while also having a stake in the community. The newly constructed SkyTrain Evergreen Extension has great potential for the City of Coquitlam, as students will have to figure out how the transportation infrastructure can be optimized for the future tenants and residents of this 14-acre parcel as well as the surrounding community," said Jarvis Rouillard, President of NAIOP Vancouver.
The competing teams will see the site for the first time in January and present their ideas in March in front of a panel of judges, TransLink officials, and members of commercial real estate industry at the NAIOP Vancouver Breakfast Event. The winning team will be awarded the NAIOP Bob Filley Cup and potentially having their plan implemented by TransLink.
"This competition sheds light on how commercial real estate affects our neighborhoods, transportation, economy, and much more," said John Middleton, Vice President at Onni Group and Chair of the Real Estate Challenge. "Bringing the Real Estate Challenge to Canada for the first time has been an important initiative for our industry. Not only will it help foster the next generation, but it will also showcase the growth of Greater Vancouver internationally."
The kickoff event will be held on Saturday, January 14th at the Douglas College David Lam Campus Lecture Theater, A1470 at 1250 Pinetree Way, Coquitlam, followed by a walking tour of the Coquitlam Central Station site. Jarvis Rouillard, Guy Akester, John Middleton, as well as the competing students will be in attendance and available for interviews. This event is open to the media and interviews can be arranged. Please contact Shnane Liem at email@example.com or 778-866-0084 if you would like to attend.
About the Pacific Real Estate Challenge
The 14th Annual Pacific Northwest Real Estate Challenge presented by NAIOP Vancouver matches teams from the real estate programs of multiple Northwest universities in a competition focusing on a high profile development in a major metropolitan area. Each team will work to formulate a proposed development and strategy that may be implemented after the competition. This year TransLink and NAIOP Vancouver have partnered to have students propose plans for Coquitlam Central Station, a 14-acre project with a high volume of transit, residents, and commuters.
The Commercial Real Estate Development of Metro Vancouver (NAIOP) represents the interests of developers and owners of commercial real estate throughout North America. The Vancouver Chapter provides communication, networking and business opportunities for real estate related professionals within the local commercial market. The Association also provides a forum for continuing education and the promotion of effective public policy at all levels of government.