The Real Estate Council has put out a call for entrants for its first-ever Shark Tank-style competition.
TREC is seeking real estate projects aimed at driving economic development in Southern Dallas within the footprint of the GrowSouth Initiative.
Here’s how the competition will work:
The panel of ‘Sharks’ will be investing their own money in selected projects.
Prospective pitchers must complete an intent form by June 30, and complete the final proposal by July 20.
Semifinalists will be notified by Aug. 11, and participants selected to compete will get feedback in August from industry mentors to help refine their proposals. The semifinalists then will present to the selection committee in September.
No more than three finalists will be notified in September, and they will pitch their ideas in the fall in front of a live audience and a panel of “Sharks,” who are qualified investors. The so-called Sharks will be investing their own money, TREC said.
REAL ESTATE PROPOSAL CAN BE IN A VARIETY OF SECTORS
Proposals can be new construction or a rehabilitation project in multifamily, single family, residential, retail, hospitality, health care, office, leisure, and industrial.
TREC will host an information session at 4 p.m. June 21, at the TREC offices, 3100 McKinnon St., Suite 1150 in Dallas.
To find out more about the competition and how to apply, go here.