Even with all the work currently happening in aspects of proptech, commercial real estate has never been known as a hotbed of innovation. Trepp, in partnership with NYU Stern's C.H. Chen Institute for Global Real Estate Finance, announced what they're billing as an inaugural innovation challenge.
"Commercial real estate is a fixed asset that requires space on the ground to build," they write. "The physical and economic environments which affect the performance of a building constantly change, but the location of a building cannot. Given that the pace of change is accelerating, how can commercial real estate be made more flexible and adaptable to thrive in a changing world?"
The program is aimed at university students, whether undergraduate, graduate, or postdoctoral, and professors.
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