A team of five students at St. Cloud State University took second place in NAIOP Minnesota‘s 17th annual University Challenge this April for their redevelopment plan The Saddle at Canterbury Commons.
In the competition teams from six universities were presented with the objective of creating a hypothetical development plan exemplifying the highest and best use for Canterbury Commons, an 18.5 acre large-scale development surrounding Canterbury Park in Shakopee. Teams had to address a development plan, construction timeline, budget, pro-forma, leasing plan and schedule, financing plan and market analysis.
Janna Haeg, Michelle Hedges, Rebecca Herbert, Halle Hughes and Katherine Vanderwerf developed their $56 million proposal for The Saddle at Canterbury Commons with recommendations for including a hotel, brewpub and restaurant and a Topgolf entertainment venue.
A team from Marquette University took first in the competition, and a team from the University of Minnesota took third.
NAIOP is a leading organization for commercial real estate knowledge, networking and advocacy.
