With the generous support from Ellis Ivory of Ivory Homes and Roger Boyer of The Boyer Company, the Ivory-Boyer Real Estate Center was formed in 2007 as a professional center within the David Eccles School of Business. The primary mission of the Ivory-Boyer Real Estate Center is to provide unsurpassed real estate industry education and research. Highlighted herein are three vital initiatives that have received focus since inception of the center – The Utah Real Estate Challenge, Education, and Research.
The Ivory-Boyer Real Estate Center at the University of Utah’s David Eccles School of Business, prepares the next generation of leaders in real estate through academic programs, degree options, executive education programs and the Utah Real Estate Challenge.
Utah Real Estate Challenge
The Utah Real Estate Challenge (UREC) is a real estate development plan competition that invites submissions from students throughout the state of Utah. Launched in late 2007 with guidance from Fred Fairclough (Bonneville Mortgage) and Bob Moore (Commerce CRG), the student-managed UREC was up and running with full funding in less than twelve months. The UREC annually awards thousands of dollars in prize money to winners and finalists. Development plans typically cover a broad range of real estate types—from senior housing to big-box retail&mdashand submissions have come from nine colleges and universities from around the state.
Shortly after the establishment of the IBREC, focus was put on the creation of a Master of Real Estate Development program designed to utilize the most successful elements of other well established MRED programs from across the country, but tailored to the specific needs of the region. With the help of Dr. Arthur C. "Chris" Nelson, PhD, Presidential Chair, College of Architecture + Planning, and George W. "Buzz" Welch, the MRED program was approved by the Utah State Board of Regents in October 2009. The MRED degree is designed with strong emphasis on the development process, sustainability, and real estate finance. The MRED program was accredited by the CCIM Institute in 2011, and it one of just three programs in the western US to receive this prestigious designation.
The IBREC is currently engaged in developing a vibrant and applicable real estate industry research platform. This effort is being undertaken with the assistance of many, including graduate students and industry professionals, by the Metropolitan Research Center and the Kem C. Gardner Policy Institute.