Our third annual ULI Hines Student Competition – Europe included a diverse array of academic institutions from across Europe. Six teams of finalists—ESSEC (France), IE University (Spain), INSEAD (France), London Business School (UK), London Business School/University of Glasgow (UK) and LSE/UCL/Oxford Brookes (UK)—presented their vision and innovative solutions to reimagine a site in Spain to make it a vibrant place to live, work, play, visit and stay.
The students were tasked with a real-life project in Madrid, a former 1970’s dairy factory, situated in a disused area with complex challenges including dated infrastructure, a rail line punctuating the area and the need to create community connection and enhance social cohesion while minimizing environmental impact. The development spans 93,000 square meters of space in addition to the 17,000 square meters of the factory itself.
The challenge for each integrated and multidisciplinary team was to reinvent this area of the city, in the process repairing and knitting together the urban environment. To aid the process, the announcement of the arrival of a major biotech anchor tenant, a nearby hospital and the encouragement to take inspiration from the 17 UN Sustainable Development Goals to help deliver ESG features highlighted as by the jury.
The team from ESSEC won due to best overall approach considering a strong focus on ESG, balancing positive societal outcomes with reasonable financial returns, understanding the challenges of placemaking yet integrating it into the fabric of the project as a catalyst to spurn redevelopment in the wider urban area.
Winner Théo Roché, commented, “We are infinitely grateful to Hines and ULI for giving us this fantastic opportunity to establish relationships with such high-quality professionals. We will seize this chance to make our mark on the real estate industry.”
Each of the winners will each receive a one-year ULI membership, a fast-track to Hines’ internship program, and the opportunity to participate in a live Hines project, including a tour and participation in project meetings.