A graduate student team from the University of California Irvine took home the top prize at the third annual NAIOP SoCal Orange County Real Estate Challenge. The annual competition centers around determining the best use of a unique parcel of land in Southern California. For 2024, the competition site was the U.S. General Services Administration’s Chet Holifield Federal Building in Laguna Niguel.
The 92-acre property features the pyramid-shaped Ziggurat building as well as a services support building, fleet and service yard areas, two guard houses, and 4,777 parking spaces. The winning concept, dubbed Pereira Place, includes for-sale residential, multifamily and artist lofts—in addition to retail, restaurants, commercial space and entertainment uses.
“This year’s competition site is truly iconic,” said David Salisbury, NAIOP SoCal OC Real Estate Challenge Co-Chair. “The presentations at this challenge are an excellent showcase for the graduate students from Chapman and UCI.”
The Chet Holifield Federal Building is one of Orange County’s largest and easily recognizable buildings. The federal building is also the site of a large photovoltaic system that produces electricity to support building operations. It’s primary tenants include offices of California Service Center for U.S. Citizenship and Immigration Services, Internal Revenue Services and U.S. Immigration.
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