Colvin Institute Takes Capital Challenge!
Last night at NAIOP, the Capital Challenge crowned a new champion in Terrapin Development, the student team from the University of Maryland’s Colvin Institute of Real Estate Development. All five competing schools presented their proposal for the Clarksburg, Maryland site before Chapter President Tim Zulick (CBRE) and Bob Elliott of Challenge Sponsor Lantian Development presented the trophy and $10,000 scholarship to the Maryland contingent.
An enthusiastic Elliott noted that for Lantian, “it was rewarding because we weren’t committed to a plan going in… it was really a privilege to see such a range of ideas from the different groups.” Maryland Faculty Sponsor and developer Ron McDonald applauded the program as “a platform that best simulates what the development professional goes through, and excellent practical experience for the students.” Asked about the reasons for this year’s team’s victory, McDonald noted that “[the team was] successful because they were able to stand up and justify their choices to the judges.” Pressed about whether victory amplified the experience, McDonald smiled. “Well… everyone likes to feel that validation, that you can get a project from inception to shovel-ready.”