NAIOP Washington State is excited to partner with Alaska Airlines for the 2025 Pacific Northwest Real Estate Challenge, NAIOPWA’s annual development case competition in which Master of Real Estate (MSRE) students take on the role of developer to craft creative and innovative development proposals for a selected project site. At the end of the quarter, student teams will present their proposals to a panel of industry judges who name the Challenge winner and recipient of the coveted Bob Filley Cup. 

Through the NAIOP Washington State Foundation, NAIOPWA is able to apply the skills and resources of our membership to initiatives that give back to our community, engage students and foster their careers, and help create a more diverse, equitable, and inclusive commercial real estate industry. These initiatives are possible because of the generous support of our Foundation Committee Sponsors. Click on any committee name below to learn more about these sponsorship opportunities:

NAIOP Washington State is excited to partner with the Low Income Housing Institute (LIHI) and Onni Group for the 2023 Real Estate Challenge.

The University of British Columbia bested both Portland State University and the University of Washington to emerge as the victor of the 18^th Annual NAIOP Washington State Real Estate Challenge!

Teams evaluated the highest and best use for the Alexandria Real Estate-owned site at 1600 Eastlake, which sits at the center of Alexandria’s Eastlake biotech campus. As the site sponsor for the Challenge, Alexandria tasked students with creating a feasible development proposal that would enhance the surrounding biotech campus, enliven the neighborhood, and adhere to Alexandria’s commitment to sustainability.

McKenzie Darr (The Wolff Company) is one of the current co-chairs of NAIOPWA's Real Estate Challenge Committee. In her capacity as a co-chair, she helped spearhead the 2020 Challenge, even as COVID-19 altered in-person presentation and competition judging. She has been recognized by her peers for her excellent leadership and dedication to the committee's educational efforts. We asked McKenzie about her work with Wolff, the REC Committee, and her love of live music.  

How would you describe your company’s primary work and scope?
The Wolff Company is a fully integrated real estate investment firm focused on multifamily investment and development. Since 2000, Wolff has invested in, acquired, or developed more than 150 multifamily assets and more than 35,000 multifamily units.
The Northwest Division based in Seattle is responsible for the investment and development of multifamily and senior housing communities in Washington, Oregon, Idaho, and Montana.

PSU Edges Out UW and UBC for NAIOP Real Estate Challenge Victory

Portland State University won NAIOP Washington’s Real Estate Challenge for the second year in a row, besting both University of British Columbia and University of Washington with a mixed-use multifamily and retail project that featured, among other things, cross laminated timber (CLT). The innovative PSU proposal named The Lighthouse, “pays homage to the history of the Pacific Northwest’s timber industry,” and seeks to cater to the tech innovation playing out in Bellevue.

At the March breakfast, we joined the Real Estate Challenge Committee for the culmination of the 16th Annual Challenge with three university teams presenting their proposals for Merlino Properties’ 5th and Bell site, and we heard from four Belltown neighborhood experts on the area’s future growth.

NAIOP WA's Real Estate Challenge is an annual contest matching teams from real estate programs at Portland State University, the University of British Columbia and the University of Washington in a competition that focuses on a development/redevelopment project in the Puget Sound area. Teams are tasked with forming a proposed investment strategy based on the site sponsor’s needs.

NAIOP WA is pleased to announce the City of Tacoma as the site sponsor for this year’s Real Estate Challenge. The 0.56 acre property, located at 728 Market Street in downtown Tacoma, is zoned Downtown Commercial Core, providing teams with an opportunity to evaluate market-rate urban development consistent with Tacoma’s urban design guidelines.

The winning team poses in Bellevue. Source: UW Think Runstad blog.