Master of Real Estate Development

Clemson MRED Practicum Proposes New Mixed-use hub for Upper Peninsula, Charleston

Article written for  publication in the Upstate Business Journal by Bhavik Thakkar, MRED 1st Year Student, and Dr. Robert Benedict, MRED Program Director and Practicum Professor

Clemson University’s 2016 graduates from the Master of Real Estate Development program recently completed their capstone project on a technology-based project for the Upper Peninsula of Charleston. The development proposals offer great takeaways for the West End of Greenville. The students proposed innovative approaches were proposed to activate the social realm and a mixture of uses to spur the redevelopment of an eight-acre, underutilized site on Morrison Drive that is currently owned by Charleston County. The nondescript buildings on the site currently house the Magistrate’s Court and Disabilities Board.

Like the West End of Greenville, the City of Charleston foresees this area becoming a dynamic area for creative uses such as food ports and food halls combined with higher-density office, local retail and affordable residential units. Four teams presented to a jury comprised of County officials, the City of Charleston and professionals from the local real estate community.

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The teams were challenged to integrate a proposed bridge to the Laurel Island development, a 165-acre commercial and residential community to be developed by Charleston developer Robert Clement. One of the teams proposed a food hall underneath the bridge, acting as a crucial connection to mitigate the barrier of the proposed bridge and uniting a physically dissected site. Another team proposed a pop-up shipping container village, termed a Food Port, situated amidst landscaping on either side of the bridge, again functioning as an activating link. The Food Port creates a confluence of two elements that make Charleston unique, its high quality food and its historic port. This results in a space that can become an entertainment venue with restaurants and retail tenants housed in refurbished shipping containers and open green spaces.

The winning team was comprised of students Dalton Chester, Alexandra Ulmer, Tim Lengen and Rob Fauntleroy. The Practicum was sponsored by the Society of Office and Industrial Users (Carolinas Chapter) and Stuart Whiteside of Seamon Whiteside and Associates. Richard Gowe of LS3P provided the presentation venue.

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The Clemson University Master of Real Estate Development Practicum requires second-year students to complete a comprehensive development proposal during their last semester that is inspired by case studies of successful and creative infill projects from across the country. Professors Robert Benedict and Jeff Randolph taught the course.

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Like Greenville’s West End, the Upper Peninsula of Charleston is seeing considerable demand for new dining concepts, local retail and food stores combined with suitable office and retail uses. The Clemson MRED’s Practicum provided some fresh perspectives with creative development approaches and financially feasible proposals.

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2016 Atlanta Tour

The 2016 Atlanta Tour began with a tour of 725 Ponce and Ponce City Market with Jim Irwin, President of New City Properties, LLC. Students got a first hand look at PCM and learned of the site’s history as the former Sears & Roebuck Distribution Center, the challenges of the project, and how the site had changed to present day.

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MRED students also had the opportunity to learn about the current construction of SunTrust Park, the future home of the Atlanta Braves. The discussion and site tour was led by Mason Zimmerman, Senior Vice President with Pope and Land and John Strid, Operations Manager of Brasfield and Gorrie. Photographs were not allowed to be taken at this site.

 

The final tour stop included a presentation and tour of the State Farm Complex. Alex Chambers with KDC Real Estate Development and Investments provided the background presentation and Holder Construction assisted with the construction site tour.

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2016 Charlotte Tour

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The annual MRED 1st Year student trip to Charlotte started off with a visit to the AvidXChange NC Music Factory with a discussion of the site by Emma Littlejohn of The Littlejohn Group. Emma also discussed how she and her team transformed and re-developed Brightwalk, a former brownfield, into a walkable, healthy community. Charlie Rulick, MRED ’07 and Chad Platt, MRED ’15 both with Miller-Valentine Group, along with ABRED Director Dave Chandler of Faison, spoke about the light rail extension and current happenings in Charlotte as part of a driving tour.

Students toured Highland Mill Lofts with Yates Dunaway of Tribridge Residential. The group toured District Flats with Dave Chandler of Faison and Kris Fetter, Partner with Middleburg Real Estate Partners and learned of multi-family trends in Charlotte.

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Additional MRED alumni joined the group for lunch at Heist Brewery: Jeremy Bunner, ’14 with Mattamy Homes; Kate Graham Oliveria, ’12 with B2R Finance; and Michael Simmons, ’15 with Terwillger Pappas.

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David Miller, Senior Construction Managers of Crescent Communities’ Multi-Family Group provided an overview and upcoming plans for Stonewall Station. Rob Turk, MRED ’15 with Levine Properties led the tour of First Ward Park, along with his colleague Shannon Harris, a Clemson University graduate in Construction Science and Management.

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Bhavik Thakkar, 2016 Charles Grossman Scholarship Recipient

Feb. 26, 2016 - MRED student Bhavik ThakkarBhavik Thakkar is one of two recipients of the 2016 Charles Grossman Scholarship from the International Council of Shopping Centers (ICSC) Foundation. The award comes with a $10,000 scholarship and all travel expenses to attend ICSC RECon in Las Vegas this May. Bhavik is the first international student selected for the Charles Grossman Scholarship.  Awarded since 2012, prior recipients were graduate students at Auburn, Columbia, Cornell, Southern Methodist, and the University of Chicago.

We are proud of Bhavik’s accomplishment!  

 

 

Shark Tank: MRED Bull Session

MRED alumni, Tyler Jones ’10 and Darren Pellegrin ’12 each presented an investment deal to a shark tank committee for the Fall 2015 MRED Program Bull Session. MRED students had the opportunity to listen to both proposed investment opportunities that were presented to a mock investment committee, comprised of ABRED Directors, John Beaman, Dave Chandler, Russ Davis (moderator), and Deb Haskell.

MRED Alumni Presenters:
1st Case: Tyler Jones, MRED ’10 with The Rockefeller Group
–Presenting Project Tiger, Summerville, SC
2nd Case:  Darren Pellegrin, MRED ’12, with Poag Shopping Centers
–Presenting a historic mixed use property on Canal Street in New Orleans, LA

ULI 2015 San Francisco, CA

MRED Student Tour of Pier 70
MRED Student Tour of Pier 70

All MRED students and faculty attended the Fall meeting of the Urban Land Institute in San Francisco, CA from October 4-8, 2015. The five day trip began with ULI Mobile Workshop tours in downtown San Francisco. Tours for the MRED students included: The New Center of San Francisco: The Transbay District, Office Re-use Shining Up Old San Francisco Spaces for Creative New Uses, and Spin Old Into Gold: Residential Adaptive Re-Use. The fall meeting and tours focused the concept of “building for change” and used San Francisco as a technology city to explore developments for real estate investment.

MRED students also got an exclusive presentation from Alan Owings and his colleagues at Forest City on the development of Pier 70. Pier 70 built the first steel ships on the Pacific and is the oldest U.S. civilian shipyard. Today, Pier 70 is “a mix of vacant land, deteriorating buildings, storage and staging areas that restrict public activity and waterfront access behind chain linked and barbed wire fences.” On the tour, MRED students learned about the history of the site and gained insight into Forest City’s 26 acre master plan that will accommodate all uses. Click here for additional information on Forest City’s work with Pier 70.

At keynote sessions students heard from former Secretary of State Condoleezza Rice and attended the Emerging Trends in Real Estate 2016® Session. Students also had the opportunity to choose additional concurrent sessions to attend and heard presentations ranging from deal negotiations to shark tank sessions and an array of topics in between.