Last November, master’s degree students from the University of Washington chose Imagine Housing as one of their educational sponsors for the annual Bank of America Merrill Lynch Low-Income Housing Challenge student competition. The Challenge required the students to analyze a property site for low-income housing, research the market, plan for entitlements (legal and city approvals), design a complete site concept and building architecture, create a complete and viable finance structure and plan, set the work within a development timeline of 48 months, conduct community outreach, think about resident services, and create a three minute video.
The master’s degree students included Imagine Housing’s very own Housing Development Associate, Megan Adams, studying real estate and urban planning; Vicky Clarke Masters of Art in Public Administration; Emma Ramoy and Emily Darling studying architecture; Hang Yin and Youyang Wang studying real estate, and Fan Fan Masters of Science in Real Estate. Al Levine and Sarah Lewontin were the students’ academic advisors and teach the affordable housing graduate course through the Runstad Center for Real Estate Studies at UW. Sibyl Glasby, Imagine Housing’s Director of Housing Development, served as the students’ professional advisor and Chris Jowell, Imagine Housing’s Executive Director, was supportive and encouraged the students to be innovative in tackling the challenges of the project.
The students had to create an initial proposal to be accepted into the regional competition. They passed both the initial and regional competition phases and went to San Francisco to present in the finals which occurred in May. Vitus Group and the Runstad Center funded the students’ travels to San Francisco for the final presentation judging.
Imagine Housing plans to continue supporting the students’ efforts around this project. More to come in the next year.
~Megan Adams, Housing Development Associate
The student team left to right: Fan Fan, Vicky Clarke, Emily Darling, Youyang Wang, Emma Ramoy, Megan Adams, Hang Yin