April 14, 2010

TCU MBA REAL ESTATE TEAM TAKES FIRST PLACE

The demolition of Texas Stadium paved the way for a case competition for the best use of the 80-acres it sat on, and a First Place prize of $10,000 for TCU MBA students. 

For the second year in a row, a team of MBAs from the Neeley School of Business at TCU took First Place and at the Texas Shoot-Out Real Estate Case Competition in Dallas on April 12, sponsored by the North Texas Chapter of National Association of Office and Industrial  Properties. The team was made up of TCU MBA students Aaron Duncan (team captain) Natalie Ayala, Russell Martin, Brent Nicewonger, Scott Scherer and Cody Smithers.

The TCU MBA team won over teams from the University of Texas-Austin/McComb, Texas A&M/Mays, Texas Tech/Rawls, Baylor/Hankamer and SMU/Cox. 

This year’s case challenged MBAs to propose the best use for the 80-acre tract of land left in Irving, Texas, now that Texas Stadium has been demolished.  

We were challenged with providing a solution that responded to the public sector and the private sector, who typically have differing opinions and interests in the property,” said Aaron. “The city owns the land and is interested in a long-term solution that utilizes the property to re-energize the city, spur future adjacent redevelopment and assist in rebranding Irving.  The private sector may have a shorter timeframe, depending on the developer, and an interest in delivering a product to the market for which there is a demand.  The city may have a longer vision for the property for certain types of developments that may not be ready for today's market.  You can't take the approach of if you build it, they will come.” 

Joe Lipscomb, who led the team, said: “We had a particularly strong team again this year. The judges were very impressed with the professional quality of our team’s solution, graphics and presentation.”

 

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MEDIA CONTACT
Elaine Cole
PR Manager
Neeley School of Business at TCU
817-257-5724
e.cole@tcu.edu