About UrbanPlan: Overview

• UrbanPlan is about a neighborhood called Elmwood in the city of Yorktown. Urban communities all over the country share Elmwood’s problems: what was once a thriving part of town is now run-down and deteriorated. Like many cities, Yorktown is seeking a private real estate development team to propose and build a project that will revitalize this once proud neighborhood.

• You and your classmates will form development teams and create a proposal for the neighborhood. Each person on the team will take on a different role in the development process.

• Your development company specializes in the development of urban projects that include residential, retail, and office components. Its goal is to reclaim economically depressed neighborhoods and cities and make a profit doing so.

• Your company has been invited to compete for the Elmwood District Redevelopment Project through the Request for Proposal (RFP) sent to you by the city of Yorktown. The RFP describes the city’s goals and objectives for the project.

• Your challenge is to create a redevelopment plan to revitalize the Elmwood District that responds to:

• The economic, social, and political goals of the city and neighborhood;
• Good urban planning and design concepts;
• The demands of the real estate market; and
• The requirements of the investors who will provide the money (capital) you will need to build your project.

• Large real estate development projects like this one are long-term projects. Your project has a 3-year time line. At the end of 3 years, you will have sold all the structures on the property to repay your investors their original investment plus a profit.

• Your team will make an oral presentation of your plan to the City Council, which will award the contract to the development team that presents the most responsive plan and compelling vision for Elmwood. This site contains all the information your company needs to create its proposal.

• In the process, you will encounter the challenges faced every day by public officials and private developers working to balance the needs, wants, and goals of public and private interests in a market economy.

Step 1: Team Steps

Step 2: Understanding the City’s Development Request

Step 3: Creating an Effective Development Team

Step 4: Developing Your Ideas for Elmwood

Step 5: Meeting Financial Goals

Step 6: Presenting Your Project to the City Council