In Spring, 2004, a team of students in the Real Estate Development Workshop entered an inter-university competition sponsored by the National Association of Industrial and Office Properties (NAIOP). The students were challenged to produce a development plan for a 47-acre industrial site at Boeing Field in Seattle.
Their report describes a multiple-phase, multiple-use strategy for reusing the Boeing site, focusing on its unique water, rail, airport, and road access. The site has a large, high quality office building, which is very hard to divide for multiple tenants. The students identified a list of federal agencies as the most likely tenants.
For the industrial portion of the site, which has significant environmental liabilities, the students' short-term strategy identifies manufacturing, service, and storage of small boats and small aircraft. The students also propose development of a new and growing industry to recycle and remanufacture the Port of Seattle's growing supply of empty steel shipping containers into emergency housing and multi-family housing.
The students then proposed a long-term strategy of incorporation of the Boeing site into Boeing Field as part of a public-private partnership to take advantage of the high lease rates for airplane storage and air cargo operations.
Core Team Members: Eric Grindy, David Gull, Noel Johnson, Jonathan Konkol, and Jason Medema. Another seven students from a variety of programs assisted the core team.