The NAIOP San Francisco Bay Area Chapter hosted its 37th Annual Real Estate Challenge on April 29, 2026, at the Julia Morgan Ballroom, bringing together industry leaders, public partners, and rising talent for one of the region’s premier real estate competitions. The event was completely sold out, underscoring the continued enthusiasm and support for this signature program.
This year’s Challenge once again delivered a compelling Battle of the Bay, as teams of graduate students from UC Berkeley and Stanford University presented bold visions for the future of Kirkland Yard, a 2.6-acre SFMTA site located at the intersection of Fisherman’s Wharf and North Beach. With San Francisco’s waterfront continuing to evolve, the site presented a unique opportunity to balance transit operations with housing, economic vitality, and public realm improvements.
The program featured presentations before a distinguished jury panel including Ross Stackhouse (Tidewater Capital, Jury Chair), Amy Campbell (Gensler), Norm Hayes (Nibbi), Chris Osborn (U.S. Bank), and Ashley Weinstein-Carnes (Coblentz Patch Duffy & Bass LLP).
The atmosphere throughout the ballroom reflected the best of the industry—friendly competition, strong school spirit, and deep engagement from the real estate community, all supported by close collaboration with the City and site partners.
While the concepts presented were exploratory in nature, the San Francisco Municipal Transportation Agency (SFMTA) emphasized the broader value of the exercise: “While we are not endorsing any specific ideas or concepts, we value the opportunity to see the students’ creativity and gain fresh, aspirational perspectives. These conceptual exercises can help inform our longer-term thinking about this important site, which remains critical to the agency’s core transit operations.”
Competing Visions for the Waterfront
The UC Berkeley team presented Stockton Commons, a mixed-use waterfront neighborhood designed to reconnect Fisherman’s Wharf with the surrounding city through what they described as the “Gateway Effect.” Their proposal emphasized housing delivery at scale, with approximately 500 residential units including a significant affordable component, alongside a pedestrian-first promenade, active public spaces, and integrated transit solutions aligned with SFMTA’s long-term plans. The project also demonstrated strong financial performance and long-term revenue generation for the agency.
In one of the memorable moments of the day, the Berkeley team pushed beyond a traditional presentation by incorporating a multi-sensory experience, distributing a signature scent inspired by their development at each table—a creative element that brought their placemaking vision to life.
Stanford’s team countered with Waypoint at the Wharf, a dynamic proposal focused on restoring Fisherman’s Wharf as a destination not only for visitors, but for San Franciscans themselves. Their plan combined 273 residential units with destination retail, a food hall, and a privately maintained public park, anchored by a 5,000-person live music venue designed to inject energy and cultural activity into the neighborhood. And yes—at one point, the team even floated the idea of bringing Justin Bieber to headline the venue, adding a lighthearted moment that drew smiles across the room. The proposal balanced strong financial returns with a clear focus on community activation and long-term vibrancy.
Together, the two teams showcased distinct yet equally compelling approaches—one grounded in connectivity and urban integration, the other in activation and cultural revitalization—highlighting the depth of thought and creativity that defines the Challenge.
The Teams Behind the Ideas
The UC Berkeley team included Hayley Carter, Brian Krall, Colin McCarthy, Christian O’Connor, and Isabella Tangherlini, guided by advisors Bill Falik of Westpark Communities and Abigail Franklin of UC Berkeley Haas School of Business.
Representing Stanford were Alia Bader, Juan Garcia, Fritz Rehmus, Marshall Stovall, and Aaron Schur, with advisory support from Carl Shannon and Katherine Evers of Tishman Speyer.
And the Winner Is…
After careful deliberation by the jury, the recipient of the 2026 James W. Brecht Memorial Golden Shovel Award was UC Berkeley.
The Team Behind the Challenge
Delivering an event of this caliber requires a significant collective effort. The Challenge was led by Chair Alysia Vigil of Shorenstein Realty Services, alongside Evelyn Weis of Calzada Capital Partners, Anna Cole of TA Realty, Linda Kemby of Fidelity National Title, and Dan Whelan of Presidio Bay Ventures, with guidance from Dennis Williams of Northmarq Capital, Member Emeritus.
Honoring a Lasting Legacy
A special and heartfelt moment of the program was dedicated to recognizing Dennis Williams, who has served as Chair of the Real Estate Challenge for an extraordinary 26 years. This year marks a meaningful transition as Dennis officially passes the torch to the next generation of leadership.
In a touching tribute, attendees who had been impacted by Dennis were invited to stand—prompting a powerful show of support that filled the room. Among those who shared remarks was Challenge Founder Steve Chamberlin, alongside colleagues, students, and industry leaders who reflected on the countless ways Dennis has shaped careers and educational journeys, both within the Challenge and far beyond it. His leadership, mentorship, and unwavering commitment have left an indelible mark on the NAIOP SFBA community and the broader commercial real estate industry.
Thank You to Our Sponsors
NAIOP SFBA extends its sincere appreciation to the sponsors and partners whose support made the 37th Annual Real Estate Challenge possible.
Special recognition goes to site partners including: San Francisco Municipal Transportation Agency (SFMTA), the San Francisco Chamber of Commerce, and the Fisherman’s Wharf Community Benefit District, along with Challenge supporters such as U.S. Bank, Gibson Dunn, Alere Property Group, Calzada Capital Partners, Cumming Group, Ellis Partners, First Bank, NorthMarq, PCCP, PGIM, and Terrence J. Rose, Inc.