Posted on June 5, 2025
Post categories: News Real Estate Students
Fourteen Master of Science in Real Estate (MSRE) students recently wrapped up the 2025 Pacific Northwest Real Estate Challenge—an annual capstone competition that gives students the opportunity to step into the role of a developer and pitch creative, real-world development proposals to industry leaders.
Hosted by NAIOP Washington State and supported by Platinum Student Engagement sponsor Alaska Airlines, this year’s competition focused on a 3.4-acre development site in Renton, Washington, adjacent to Alaska Airlines’ Global Training Center at the Longacres Campus. The site offered a unique and complex opportunity, challenging students to explore the highest and best use of the land while responding to owner requirements and community context.
The competition kicked off in early April with a site briefing and introduction led by Alaska Airlines representative Teri Sato and Seneca Group’s Chris Kaloper. Over the following weeks, students engaged with a range of local professionals—including architects, contractors, analysts, developers, and investors—to refine their concepts and prepare for the final review.
Three teams of MSRE students—The Runstad Flyers, Builtwise, and 100 Keys & Counting—presented their proposals to a panel of industry judges, each aiming to take home the coveted Bob Filley Cup. The Real Estate Challenge is one of four capstone options available to MSRE students and offers hands-on experience, direct industry engagement, and a platform to apply classroom learning in a real-world context. In the end, 100 keys & Counting was named the winner of this year’s competition.
“We’re honored to continue our partnership with the University of Washington’s MSRE program,” said NAIOP Washington State. “This competition gives students valuable, hands-on experience and creates meaningful connections between academia and the professional real estate community.”
Explore scenes from this year’s final review below.
