Stanley E. Hunt Case Series

The spring Stanley E. Hunt Real Estate Development Case Series competition was held at the Kelley School of Business on the Bloomington campus on April 28. Four teams from the Real Estate Development and Appraisal class of 49 students were chosen to present their development plans and compete in the final competition.

The case sites were located on Kirkwood Avenue and North Grant Street in Bloomington, including Café Pizzaria and The Village Deli, each .2 acres. Students were asked to conduct a real estate development feasibility analysis to determine the highest and best use of the sites.

Real estate professionals are invited to speak in class throughout the semester to discuss their areas of expertise as they relate to the case site. This semester, Chris Cockerham, a commercial broker and manager with F.C. Tucker Company—which represents the property owners—spoke to the class about the properties, providing information related to the local real estate market and the political and legal issues surrounding the site.

• First place team: Zachary Domet, Kalvin Kerwin, and Abby Schwartz took home the $1,000 prize with their proposal for a $16.5 million mixed-use development including two high-end retail spaces and 30 units of luxury apartments.
• Second place team: Michael Capilla, Gavin Grossman, Ella Kertz and Tyler Kunkel won $750 with their proposal that included redevelopment of Café PIzzaria into a yoga studio, while preserving The Village Deli, adding 21 apartment units on top of the two buildings.
• Third place team: Charlie Budd, Zachary Cutka, Molly Pultz, and Matteo Procino received $500 for their plan to put in a gym in the Café Pizzaria space, keep The Village Deli, and add three floors of apartments above.
• Fourth place team: Jack Arenberg, Maxwell Daily, Cirilo Gonzalez, and Parekh Shyam, won $250 for their mixed-use retail and apartment design with a parking garage.