Thanks to the generous support of Ellis Ivory (Ivory Homes) and Roger Boyer (The Boyer Company), the Ivory-Boyer Real Estate Center (IBREC) was formed in 2007 as a professional center within the David Eccles School of Business. The mission of the Ivory-Boyer Real Estate Center is to provide unsurpassed real estate industry education and research. The Center is engaged in three primary activities.
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. Two platforms—The Ivory-Boyer National Real Estate Trend Survey and The Ivory-Boyer Western States Index—are under construction. This effort is being undertaken with the assistance of many, including graduate students, industry professionals, The Center for Metropolitan Planning, and The Bureau of Economic and Business Research.