The team鈥檚 proposal focused on The 78 鈥� a 62-acre site along the South Branch of the Chicago River that is planned to become Chicago鈥檚 78th neighborhood. The development includes the future McDonald鈥檚 Park stadium, a major sports and entertainment destination, in partnership with the Chicago Fire FC soccer team, designed to support year-round activities.

Representing UA 糖心视频logo were students Brennan Gasaway, Ashley Lopez, Isabel Hortelano, Kodiak Cannedy, and Ryan Hunt, who competed as BAIKR Development, a team name built from each member鈥檚 initials. The team developed the award-winning proposal with guidance from industry experts Siteng Ma and Andy Ahitow, while Elizabeth Small, an instructor of real estate, served as the academic advisor throughout the competition. 

鈥淒eveloping this pitch taught us patience, discipline, commitment, and teamwork,鈥� the team said. 鈥淎s the project evolved, we all became deeply invested in the vision, and receiving this recognition validated the hard work and passion we put into it.鈥�

The proposal centered on creating a mixed-use district guided by the principle of 鈥減eople first, buildings second,鈥� with an emphasis on building a development that complemented the surrounding neighborhoods while supporting long-term activity beyond stadium events. 

Taking Ma鈥檚 advice to follow the 鈥淟ive, Work, Play鈥� concept, the team focused on creating a development that complemented the existing neighborhoods and future McDonald鈥檚 Park stadium while giving the 78th neighborhood its own identity.

For 鈥淟ive,鈥� the students envisioned a walkable residential community with a mix of affordable and market-rate housing designed for students, families, and working professionals, creating a stable environment year-round.

For 鈥淲ork,鈥� the proposal introduced office, retail, hospitality, and educational spaces anchored by a Culinary and Hospitality Institute designed to support workforce development and generate daily activity within the district.

For 鈥淧lay,鈥� the team incorporated restaurants, entertainment venues, hospitality spaces, and public gathering areas intended to extend activity beyond game days while supporting both residents and visitors. 

As the project developed, the team focused on creating a district that could sustain activity beyond major stadium events. With McDonald鈥檚 Park serving as a major anchor for the district, the team introduced the Culinary and Hospitality Institute as a second anchor tenant designed to support workforce development, hospitality training, and year-round engagement. 

鈥淲e wanted to stay focused on building a community that recognized and included the people already surrounding the space,鈥� Hortelano said. 鈥淎 big part of our approach was making sure the development felt welcoming and connected to the existing neighborhoods rather than creating something that isolated or displaced them.鈥�

Small encouraged the students to look beyond the site itself and understand the surrounding demographics as real people and neighborhoods, a perspective that shaped many of the team鈥檚 design decisions throughout the project. 

鈥淲e could see how much the team genuinely believed in its pitch, and we were impressed with how they created an ecosystem that could grow organically with the surrounding community over time,鈥� one competition judge said.

Throughout the development of their pitch, team members reached out directly to industry professionals and businesses to test ideas and refine the proposal鈥檚 feasibility. 

鈥淲e were all really surprised how open all of the professionals we spoke to were,鈥� said the team, 鈥淲e spent a lot of time on the phone or talking over email about all of our options, and which made the most sense for the development.鈥�

As the team refined the project, members said their collaboration became one of the group鈥檚 greatest strengths.

鈥淏ecoming friends made everything much easier,鈥� Lopez said.

What began as a competition project ultimately became a collaborative learning experience that challenged the students to think beyond the classroom. Through countless conversations, revisions, and real-world outreach, team members said they developed stronger friendships, discovered their individual passions within the project, and gained a deeper understanding of how thoughtful developments can shape communities. Their success at the Eisenberg Competition reflected not only the strength of their proposal, but also the teamwork and shared vision behind it.

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Presented by the , the Real Estate Challenge immerses students in real-world development scenarios. Teams research market conditions, community demographics, local history, and Chicago city policies to create viable project proposals.

Representing UA 糖心视频logo are Kodiak Cannedy, Brennan Gasaway, Isabel Hortelano, Ryan Hunt, and Ashley Lopez, led by instructor Elizabeth Small.

Their research includes studying the surrounding real estate market, learning an area鈥檚 history, analyzing community demographics, and examining the Chicago City Council鈥檚 positions on economic development. Teams also evaluate the financial aspects of their ideas by exploring financing options, projected returns, and potential partnerships.

Through this process, students see how the fundamentals of successful development in Chicago apply anywhere. They also begin to understand how a concept can move from an idea to a real-world project, helping prepare them for future careers in the field.

鈥淲atching students reach that realization is always one of the most rewarding parts of the experience,鈥� Small said.

The Real Estate Challenge will welcome 29 undergraduate and graduate teams from universities across the country to compete in a high-profile redevelopment project in Chicago鈥檚 South Loop neighborhood. Each team is assigned the same project and core information, ensuring a level playing field to develop a comprehensive plan to maximize a property鈥檚 potential from financial and feasibility perspectives.

The UA 糖心视频logo team will present its analysis and recommendations to maximize the site鈥檚 potential. A panel of industry leaders will judge the presentations and select the finalists and winners.

Small has taken four teams to Chicago for the Eisenberg Challenge. In 2023, her team took first place, and the 2024 team finished second in the final round.

鈥淲e are looking forward to this year鈥檚 challenge, and the determination to do well is strong,鈥� she said.

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Paul Rainwater, owner of in the Promenade at Chenal, has donated his time and skills to create custom business outfits for a team of UA 糖心视频logo students who will be competing in the Harold E. Eisenberg Foundation鈥檚 Annual Real Estate Challenge in April. Trojan Champions, a new initiative of the UA 糖心视频logo Annual Fund, donated the cost of the materials for the business outfits.

鈥淚 chose for these students a classic business look, a navy blazer and gray business pants,鈥� Rainwater said. 鈥淚t鈥檚 a timeless, classic look right out of the 鈥楧ress for Success鈥� formula. I first got that book in 1976, and there is a whole chapter on the navy blazer. It鈥檚 a timeless look that they can use for meetings, interviews, and business activities. If there is anything that has more than one purpose, it鈥檚 a blazer. You can also wear it with jeans and khakis. It has a lot of versatility to dress up and down.鈥�

Rainwater is a seasoned veteran in the fashion industry with five decades of invaluable experience under his belt. He opened his first shop in 1974 and is currently celebrating his 50th anniversary of being in the clothing business.

鈥淚鈥檝e always built my business on making friends, and I can鈥檛 think of a better investment than college students who are on their way up in the world,鈥� Rainwater said.

The Eisenberg Foundation Challenge matches teams from selected universities in a competition focusing on a high-profile development/redevelopment project. Last year, UA 糖心视频logo鈥檚 team won the competition for the first time, and they are competing for a $7,500 scholarship during this year鈥檚 competition.

鈥淲e as a team were trying to coordinate what we were going to wear so we could look in unison during our presentation, and actually getting a custom suit that makes us all look so sharp is a huge blessing and is just really awesome for us as a team,鈥� said Osman Bagandov, a senior finance major. 鈥淲ith UA 糖心视频logo winning the competition last year, the target is definitely on our backs, but we are embracing the challenge and hoping to deliver a great presentation and hopefully win back-to-back titles.鈥�

Elizabeth Small, director of business networks and instructor of real estate development, will be leading the team of students 鈥� Bagandov, Adison Cummings, Ashlin Graveline, and Lamar Townsend 鈥� who all have a keen interest in commercial real estate development.

鈥淭he school is sending us back in style, and we are just showing the other schools that we have quite a few new tricks up our sleeve,鈥� said Adison Cummings, a senior architectural and civil engineering major. 鈥淚 definitely see myself wearing this outfit to potential job interviews or any other events where I may need to dress up. It’s a snazzy outfit.鈥�

Ashlin Graveline, a senior finance and real estate major, thinks having the outfit will be beneficial during the competition and after.

鈥淚 am so thankful for receiving a custom outfit for the real estate competition,鈥� Graveline said. 鈥淭he team has worked very hard on this project, and it will be rewarding to see the presentation and ideas come together. The outfit will be very beneficial with the competition and outside of it. It will be great for multiple uses, an example being a job interview.鈥�

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A week before she began college in 2019, the 糖心视频logo native was set to attend another college as a biology major, but Temples had a change of heart and has never looked back.

鈥淚 had a gut feeling that I should go to UA 糖心视频logo and study something that was more interesting to me than biology,鈥� Temples said. 鈥淚 knew UA 糖心视频logo had a good business program and was the only college in the state with a real estate program. That is what really piqued my interest.鈥�

While Temples is graduating this semester with a double finance degree in general finance and real estate, she has already started her new career as an assistant property manager in the Property Management Division at Colliers International.

鈥淭hrough UA 糖心视频logo鈥檚 Real Estate Program, I got to attend many events with the Commercial Real Estate Council,鈥� Temples said. 鈥淭hat is where I made connections with many people who work at Colliers, and that is why I knew I鈥檇 really like the job, because of the great work environment at Colliers International.鈥�

While at UA 糖心视频logo, Temples served as president of the Finance and Economics Association, where she helped organize events with leading industry experts in Arkansas. Additionally, she volunteers as a housing liaison, where she helps the homeless find affordable housing.

Temples said the highlight of her college career was being a part of the team that won the Real Estate Challenge this semester in Chicago, which brought in $5,000 for scholarships for real estate students at UA 糖心视频logo. UA 糖心视频logo was the Undergraduate Division Winner of the , which matches teams from selected universities in a competition focusing on a high-profile development/redevelopment project in the Chicago Metropolitan area.

鈥淚t was a phenomenal experience, and I absolutely loved it,鈥� she said. 鈥淢y favorite part was getting to see the full scale of a large development project, and what goes on from the beginning stages of planning to the end stages of the proposal. I learned so much knowledge that will be invaluable to my future career.鈥�

The new graduate leaves future UA 糖心视频logo students with the following advice.

鈥淚t鈥檚 great to form connections and grow in your professionalism,鈥� Temples said. 鈥淕oing to events in the industry you want to work in is critical. Reach out to your professors and try to form connections with them. They have a lot of resources to help you get involved in your industry.鈥�

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UA 糖心视频logo was the Undergraduate Division Winner of the , which matches teams from selected universities in a competition focusing on a high-profile development/redevelopment project in the Chicago Metropolitan area.

UA 糖心视频logo was one of a dozen teams competing in the high-profile competition, including Georgia State, Tulane, Loyola, Marquette, Michigan State, Ohio State, and the University of Illinois at Champaign-Urbana.

鈥淲hen they said our name, I was in total disbelief that we had actually won,鈥� said Lamar Townsend, a junior double major in finance-real estate and political science from Maumelle. 鈥淲e were up against some very elite and highly resourced schools, so I thought our chances of winning were slim. However, I am honored and humbled that the Eisenberg Foundation gave us the opportunity to participate in this opportunity. It was truly a great experience.鈥�

Each team is assigned the same case site and provided the same essential information and assumptions about the property. The students鈥� development plan must constitute a comprehensive analysis and conclusion of how to maximize the potential of the property from both a quantitative (financial) and qualitative (feasibility) standpoint.

鈥淲e decided to place an entertainment venue with retail and restaurants at the waterfront and then an office building and learning center on the interior of the island,鈥� said Adison Cummings, a junior double majoring in architectural engineering and civil engineering from Texarkana. 鈥淲e wanted to make that area a bustling hub to help bring back life into Goose Island.鈥�

The award-winning students were all a part of the Real Estate Development course taught by Elizabeth Small, director of business networks and instructor of real estate development.

The winning students include Adison Cummings, Paige Goodale, David Lopez, Victoria Temples, and Lamar Townsend. Presenting teams were limited to five students, but UA 糖心视频logo students Jake Anderson and Mika Berry were also members of the real estate class who worked on the project. In Chicago, the team was assisted by industry mentors Jenna Goebig and Siteng Ma.

鈥淲e had a wonderful teacher and mentors, coaching us through the process. They provided us with the connections we needed, as well as helping us to present,鈥� said Paige Goodale, a senior double majoring in business finance and real estate. 鈥淚 learned so much about development that I never expected to learn, like how to create a letter of intent, targeting a market audience, eliminating ideas that don’t work, contacting business owners, creating connections, the process of creating comps, and how financing and construction costs are created.鈥�

Small added that her students went above and beyond on this project, letting nothing, not even a tornado, stand in their way.

鈥淭he students鈥� project paper was actually due at 4 p.m. March 31, the day the tornado struck 糖心视频logo and Central Arkansas,鈥� Small said. 鈥淲hile our Zoom meetings kept getting interrupted for students to take shelter, the paper got turned in with eight minutes to spare. One student, Jake Anderson, had to leave to check on his grandmother鈥檚 house in 糖心视频logo, but his first question that evening was whether the paper got turned in on time. I鈥檝e never seen such a dedicated group of students.鈥�

The students traveled to Chicago on April 14 and got to tour Goose Island, the site of the redevelopment project for the Eisenberg Foundation鈥檚 Annual Real Estate Challenge, with Goebig. Their second industry mentor, Ma, is in China, but met with the group virtually to give them tips for their presentation. Remarkably, Ma is a graduate of 糖心视频logo Central High School, and his parents have both worked at UA 糖心视频logo in the past, leading to his desire to serve as a mentor to UA 糖心视频logo鈥檚 team.

The team made their presentation to the Eisenberg Foundation on April 15, with four out of five students sporting business outfits they picked from UA 糖心视频logo鈥檚 Trojan Career Closet. The students proposed what to build on a three-acre empty waterfront lot and a six-story abandoned storage building. They decided on a multi-use office building called “The Cove,鈥� with space for an LA Fitness on the top floor, a STEM innovation hub, an art gallery, WeWork space, and rooftop green space for the abandoned building.

鈥淲e wanted to renovate the building with an adaptive reuse technique for sustainability reasons,鈥� Townsend said. 鈥淭he other waterfront site would be called 鈥楾he Boatyard,鈥� and this was planned to be a destination entertainment venue with a 125,000 square-foot building with multiple vendors including Keg Grove Brewery and a space for a bowling/ arcade area. We also wanted a lot of green space along the waterfront, a water taxi stop, and space for an outdoor stage.鈥�

Victoria Temples, a senior real estate and finance major from 糖心视频logo, added that the two proposed mixed-use buildings would create a bustling community hub that would complement the area developing around it.

鈥淎 new casino, a nearly 3,000-unit apartment complex, and expansive river trail system are currently underway, so our developments greatly enhance the surrounding area,鈥� Temples said. 鈥淏ecause we had a varied mix of uses, our development can be utilized 24/7, which is very important for the Chicago area.鈥�

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The awarded the Real Estate program with the Commercial Real Estate Impact Award. The council created the award to honor individuals and organizations who make an impact on the types of experiences and outcomes that are crucial to a healthy commercial real estate market.

鈥淚 think the UA 糖心视频logo Real Estate program is a perfect example of an impact award,鈥� said Susan Hill Gel茅, executive director of the Commercial Real Estate Council of Metro 糖心视频logo. 鈥淭he decision a student makes to follow a particular field of study will impact them for the rest of their lives. The impact on workforce development is clear from the students and graduates who have interned or accepted full-time positions with local real estate companies.鈥�

Elizabeth Small, instructor of real estate and director of business networks, accepted the award on behalf of the university during the Fifth Annual Commercial Real Estate Awards Ceremony held Feb. 21 at the Arkansas Pharmacists Association Building, which was the recipient of the Project of the Year Award.

鈥淩eceiving this award helps legitimize all the concepts we teach the students,鈥� she said. 鈥淚t was thrilling to realize there are so many agencies, companies, and organizations in town that appreciate our program and our students, and it provided awareness of our Real Estate program to those who may not realize what a resource we are.鈥�

Small reflected that receiving the award was especially memorable because the 鈥渟upport from the university was overwhelming to me. It took my breath away.鈥� She was joined by students and alumni of the Real Estate program as well as colleagues from the School of Business and Alumni and Development.

Under the leadership of Small, the UA 糖心视频logo School of Business began to restructure the Real Estate program in 2017. By 2020, the curriculum offered incoming freshmen a degree that integrated real estate classroom education with experiential learning and research in real estate issues and policy.

鈥淭he current students are involved in entrepreneurial activities and development projects and benefit from panels of executives with real life experience in the real estate industry and exposure to regulatory issues involving real choices and opportunities,鈥� Gel茅 said.

Some of those professional development opportunities are offered by the Commercial Real Estate Council of Metro 糖心视频logo, which has hosted photo scavenger hunts, panel discussions, and Women in Real Estate events that UA 糖心视频logo students regularly attend. Learn more about the School of Business by visiting the website.

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