November 23, 2015
On November 19, more than 300 real estate professionals gathered at USC’s Town and Gown for the annual NAIOP SoCal UCLA vs USC Real Estate Challenge.
During this iconic Southern California real estate event, five-member student teams from the Lusk Center for Real Estate at USC’s Marshall School of Business and Price School of Public Policy and UCLA’s Ziman Center for Real Estate at the Anderson School of Business competed head to head on their innovative development proposals for the highest and best use of a 950,000-square-foot former indoor shopping mall in Hawthorne.
Tom Wulf, Lowe Enterprises Real Estate Group and NAIOP SoCal 2015 President, said, “The NAIOP SoCal Real Estate Challenge is a unique opportunity for real estate students from USC and UCLA to gain exposure to a real world challenge and then work as a team and with industry leaders to develop their solution.”
The UCLA team presented their concept called Hawthorne Crossing, a true mixed use development, with 390 multifamily apartments, 250,000 sf of ground floor retail with major anchor tenants, 100,000 sf of class A medical office and more than 55,000 sf of community oriented uses. As the UCLA team shared their vision they called Hawthorne Crossing “a catalytic development that will start the downtown Hawthorne renaissance.”
USC’s proposal dubbed Avenir Park, was called a new urban park that provides a venue for celebration and events, while adding much needed housing, retail, and hospitality programming to Hawthorne. As USC’s student team shared “Avenir means ‘future’ and looks to bring a bright future to Hawthorne.”
The teams spent their day presenting their proposals to a panel of 12 industry-leading judges and then presented as well to the assembled audience at Town and Gown. Based on their presentations and proposals, the judges gave the Silver Shovel to USC!
The Real Estate Challenge included emcee James “Watty” Watson, CEO and president, CT Realty and game commentary from Chris Roberts, former voice of the Bruins, and Pete Arbogast, voice of the Trojans.