15th Annual ULI Hines Student Competition Briefing ... Annual ULI Hines Student Competition Briefing Materials Chicago, Illinois ... enduring value for its investor ... the need for multidisciplinary solutions to

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  • 15thAnnualULIHinesStudentCompetitionBriefingMaterials

    Chicago,Illinois

    January2017

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    AbouttheSponsors

    Hinesisaprivatelyownedglobalrealestateinvestment,development,andmanagementfirm,foundedin1957,withapresencein192citiesin20countriesand$93.2billionofassetsundermanagementincluding$47.9

    billionforwhichHinesprovidesfiduciaryinvestmentmanagementservicesand$45.3billionforwhichHinesprovidesthirdpartypropertylevelservices.

    Hineshas105developmentscurrentlyunderwayaroundtheworld,andhistoricallyhasdeveloped,redeveloped,oracquired1,180propertiestotalingover379millionsquarefeet.Thefirmscurrentpropertyandassetmanagementportfolioincludes483propertiesrepresentingover199millionsquarefeet.Withextensiveexperienceininvestmentsacrosstheriskspectrumandallpropertytypes,andapioneeringcommitmenttosustainability,Hinesisoneofthelargestandmostrespectedrealestateorganizationsintheworld."Wewanttobethebestrealestateinvestor,partner,andmanagerintheworld."JeffreyC.Hines

    Sinceitsinceptionin1957,Hineshascreatedprojectsofthehighestquality,aestheticrelevance,andenduringvalueforitsinvestorpartners,clients,andlocalcommunities.WorkingwithsuchnotablearchitectsasCesarPelli,FrankGehry,I.M.Pei,andPhilipJohnson,Hineshasredefinedthewaydevelopersinteractwithandtreatarchitecture,promotingabalanceamongfunction,beauty,andsustainability,andreshapingskylinesaroundtheworld.

    TheUrbanLandInstituteisa501(c)(3)nonprofitresearchandeducationorganizationsupportedbyitsmembers.Foundedin1936,ULIhasmorethan39,000membersworldwide,representingtheentirespectrumof

    landuseandrealestatedevelopmentdisciplinesworkinginprivateenterpriseandpublicservice.

    Asthepreeminent,multidisciplinaryrealestateforum,ULIfacilitatestheopenexchangeofideas,information,andexperienceamonglocal,national,andinternationalindustryleadersandpolicymakersdedicatedtocreatingbetterplaces.

    ThemissionoftheUrbanLandInstituteistoprovideleadershipintheresponsibleuseoflandandincreatingandsustainingthrivingcommunitiesworldwide.

    MemberssayULIisaplacewhereleaderscometogrowprofessionallyandpersonallythroughsharing,mentoring,andproblemsolving.Withpride,ULImemberscommittothebestinlandusepolicyandpractice.

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    AbouttheCompetition:MissionandHistoryTheULIHinesStudentCompetition,nowinits15thyear,isoneofthecoreeducationinitiativesoftheInstitute.Thecompetitionoffersgraduatelevelstudents,enrolledineligibleprogramsintheUnitedStatesandCanada,theopportunitytoformmultidisciplinaryteamsandengageinachallengingexerciseinresponsiblelanduse.ItispartofULIsongoingeducationinitiativetoraiseinterestamongyoungpeopleincreatingbettercommunities,improvingdevelopmentpatterns,andincreasingawarenessoftheneedformultidisciplinarysolutionstodevelopmentanddesignchallenges.

    GeraldD.Hines,founderandchairmanoftheHinesrealestatecompany,wasthe2002recipientoftheULIJ.C.NicholsPrizeforVisionariesinUrbanDevelopment.Afirmbelieverinthepowerofpeopleandfosteringtransformativevalues,HinesdeclinedtheprizemoneyandmatchedittoseedtheannualULIHinesStudentCompetition.Sincefoundingthecompetition,Hinesendowedtheprogramwithanadditional$3millioninfunding,ensuringitslongevityandlegacyforfuturegenerationsofpractitionersinthebuiltenvironment.

    Thecompetitionhasbecomeapivotalexperienceforgraduatestudentsastheyprepareforcareersinthebuiltenvironment.Sincethecompetitionbeganin2003,morethan7,500studentsonover1,500teamshaveparticipated.Thepurposeofthecompetitionistoraiseawareness,particularlyamongthenextgeneration,oftheimportantrolethathighqualityurbandesignplaysincreatingnotjustbeautifulbuildings,butlivingenvironments,Hinessays.Thecompetitionencouragescooperationandteamworkamongfuturerealestatedevelopersandthemanyalliedprofessions,suchasarchitecture,landscapearchitecture,historicpreservation,engineering,finance,andothers.

    Duringthecompetition,teamsoffivestudents,representingatleastthreedifferentdisciplines,applytoparticipate.Oncethehostcityandchallengeisannounced,theteamshavetwoweekstodeviseacomprehensivedesignanddevelopmentprogramforanactuallargescalesiteofferingchallengesandopportunities.Submissionsconsistoflargeformatpresentationboardsthatincludesiteplans,renderings,infographics,andmarketfeasiblefinancialdata.Thoughbasedonrealsiteconditionsandchallenges,thiscompetitionisanideascompetition:thereisnoexpectationthatanyofthesubmittedproposalswillbeappliedtothesite.(Toviewprevioussubmissionsandlearnmoreaboutthecompetitionformat,visitthecompetitionarchivesatuli.org/hines.)

    Thejurymeetsinpersontoevaluatealltheentries,submittedanonymously,andoverthecourseoftwointensedaysselectsthoseteamsreceivinganhonorablemention,andthefinalfourteamsthatadvancetothesecondphaseofthecompetition.Onememberofeachfinalistteamreceivesapaidtriptojoinatourofthecompetitionsiteandreceiveabriefingonit.Finalistteamsalsoreceiveanadditionalbriefingtohelpthemrefineandexpandtheiroriginalproposals.AllfinalistteammembersthenreceiveanallexpensepaidtriptomeetinthehostcityforalivepublicpresentationoftheirproposalandaQ&Asessionwiththefulljury.Afterjurydeliberations,thewinningteamisannounced.Thegrandprizeis$50,000($5,000ofwhichgoestotheteamsschool),andthefinalistteamsreceive$10,000each.

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    JuryReflectingthemultidisciplinarynatureofthecompetition,ULIselectstento12jurorsfromdiversebackgroundstoevaluateteamsubmissions,choosefourfinalists,andultimatelyselectonewinnerfromamongthefinalists.Whilethereisnoofficialprescriptionforcompositionofthejury,pastjurieshaveincludedastrategicmixoflanduseexperts,suchasdevelopers,brokers,architects,urbandesigners,landscapearchitects,urbanplanners,andpolicyofficials,amongothers.Severalmembersofthejuryarealsopractitionersinthecompetitionshostcitytoensureuptodateknowledgeofthesitechallengesandthevalidityoftheproposals.

    Inagreeingtoserveasmembersofthecompetitionjury,thejurorsattestthattheyhavereviewedthecompetitionprogramandagreetoabidebytherules,regulations,andguidelinesasstated.Jurorstypicallyserveinthiscapacitynomorethantwice.WhileULIstrivestoselectandpublicizethejuryrosterassoonaspossible,thereisnoguaranteethatULIwilldisclosethejurycompositionbeforetheendofthecompetitionperiod.Forthelatestinformationabouteachjuror,visitthecompetitionwebsite,uli.org/hines.

    EligibilityULIinvitestheparticipationofteamsfromaccreditededucationalinstitutionsintheUnitedStatesandCanada.Teamsmustbemadeupofgraduatestudentspursuingagraduatedegreewhilefullyenrolledfortheentireacademicperiodduringwhichthecompetitionisconducted.ULIallowstheparticipationofparttimegraduatestudentsandfifthyearstudentsonthefifthyearofafiveyearprogrammostcommonlybachelorofarchitectureandbacheloroflandscapearchitecturestudentsprovidedtheymeetspecificeligibilitycriteriaasoutlinedinthecompetitionguidelines.Ineligibletocompetearemembersofthejury;thecompetitionadvisers;allofficials,currentemployees,andrecentformeremployeesofULI;theemployees,students,andimmediatefamiliesofanyoftheaforementionedparties;andthosewhomULIdeemstohaveaconflictofinterest.Allstudentsfromthefinalistteamsinthe2015and2016competitionsarealsoineligible.

    ULIreservestherighttodisqualifyteamsortolimitthenumberofteamsallowedtoparticipateinthecompetition.TeamswerenotifiedoftheirparticipationstatusbyemailnolaterthanFriday,December16,2016.

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    2017CompetitionCityBackground:Chicago

    Chicago,Illinois,isthelargestcityintheU.S.Midwestandthethirdmostpopulouscityinthecountry.Hometomorethan2.7millionpeople,Chicagothrivesoninternationaltradeandisrenownedforitsboldarchitecture,planninghistory,anddiverseculture.

    Aviewofthecompetitionsitefromthenorth.OnthehorizonistheiconicdowntownChicagoskyline,wheretheWillisTower,formerlyknownastheSearsTower,remainsthesecondtallestbuildingintheWesternHemisphere.(NathanWeber/ULI)In1833,Chicagowasincorporatedasatown,andwhenitspopulationreached4,000in1837,itwasincorporatedasacity.Chicagogotitsfirstrailroadin1848andsoonbecameaboomingtransportationhubforimports,exports,andtravel.AlreadyChicagowastheworldslargestgrainportanditspopulationhadtopped30,000.Sincethemid1850s,ChicagohasplayedapivotalroleintheU.S.economyandhasbeenthedominantMidwestmetropolis.

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    Chicagoshistoryisladenwithiconicevents,suchastheGreatChicagoFireof1871andthePullmanstrikeof1894.Thefire,whichdestroyedonethirdofthecity,leftmorethan100,000peoplehomeless.Theensuingreconstructiontransformedcitymakingandhadalastinginfluenceonthedevelopmentofarchitecture,inparticularthroughtheuseofinnovativebuildingstructuresthattranslatedintoaconstructionrenaissanceoftallbuildings.

    Map1:Detailofan1857mapofChicagopredatingtheGreatFire.Theredcircleindicatesthelocationofthecompetitionsiteinrelationtothehistoricgrid.(RufusBlanchard;courtesyoftheDavidRumseyHistoricalMapCollection)

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    Economically,thecityhasplayedakeyanddynamicroleinU.S.history.Itgainedanearlyleadingroleintheinlandtransportationnetwork,basedonlaketrafficandrailroads,controllingaccessfromtheGreatLakesintotheMississippiRiverbasin.Thecitygrewrapidly,becomingthenation'srailcenterandthedominantMidwesternhub.However,inthe1950sthecityenteredalongperiodduringwhichitsfuturewasoftenquestioned.Thatdecade,Chicagosawitspopulationshrinkforthefirsttimeasfactoryjobsbegantoleveloffandpeoplemovedtothesuburbs.Deindustrializationafter1970wouldleadtoclosureofmostofthesteelmillsandfactories,butthecityretainedakeyroleasafinancialandtransportationhub.Chicagolostalmost22percentofitspopulationbetween1960and1990.Butaftertherecessionof19811982,theefforttoreviveitseconomicviabilitywouldsavethecityfromtheenduringcrisisexperiencedbyotherurbannodesintheregion.Chicagoembracedadowntownofficedevelopmentboomandmadeameaningfulpostindustrialturn.Businesssectorsgrew,resultinginadowntownofficemarketthataddedonetotwomillionsquarefeetperyearoverextendedperiodsandcapturedatleast50%ofregionalofficegrowth,D.BradfordHuntandJonB.DeVriesreportedintheir2013bookPlanningChicago.Areinvigorateddowntownculture,withexpandededucationandculturalo