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Real Estate Development (M.S.)

Program Director: Howard Ways III, AICP

Mission

The Master of Science in Real Estate Development fosters professionalism, expertise and responsibility in the field of real estate development through the program’s emphasis on economic and environmental sustainability, social consciousness, design excellence and financial feasibility. The next generation of real estate developers must not only be cognizant of the far-reaching impact of real estate development upon society and the environment, but also possess the skills required to respond creatively to dynamic economic, social and ecological conditions. The program aims to provide a comprehensive, innovative and multidisciplinary education that is intimately linked to the longstanding effects and complex demands of the real estate development industry today.

Program Learning Goals

Graduates of the M.S. Real Estate Development will be able to:

  • Apply analytical, computational, and evaluative skills in financial and quantitative real estate decisions
  • Assess fundamental legal principles and ethical practices applicable to real estate development
  • Apply sustainable planning paradigms on multiple scales from the micro of neighborhood development to the macro urban condition
  • Synthesize core competencies that include finance, planning, design concepts, market analysis, legal principles, construction and project delivery
  • Evaluate the dynamics and valuation of a capital-driven market within a risk/reward framework as intrinsic to decision-making and the sustenance of healthy communities
  • Address and solve pressing design, planning, and ecological challenges with creative, research and evidenced-based solutions
  • Display the interpersonal skills, flexible problem-solving abilities and ethical behavior needed to provide leadership to employees and inspire confidence among professionals
  • Analyze the diverse needs, values, behavioral norms and spatial patterns of various regions and communities as a guide to development decisions
  • Function as an effective participant in a collaborative, cross-disciplinary team
  • Analyze demographic, technological, and economic trends using current technologies such as ArcGIS and Argus Developer
Program Description

Master of Science in Real Estate Development will train students to assume leadership roles within this increasingly multifaceted and cross-disciplinary industry. Future entrepreneurs must demonstrate mastery of a broad spectrum of skill sets and knowledge bases that address the economic, political, social and physical issues inherent in developing complex commercial, industrial, institutional and residential projects.

To meet this end, the curriculum synthesizes several areas of study, including: market analysis and valuation; finance, brokerage and investment; legal aspects of ownership and land-use; gap-financing and private-public partnerships; construction science and management; city and regional planning; in addition to multiple design and development paradigms and their long-term local, national and global impacts.

A key component of the program will be the integration of “green” planning principles, as outlined by the Urban Land Institute (ULI) and the United States Environmental Protection Agency (EPA), into the development process. Sustainable strategies inform a curriculum sensitive both to the ethical dimension of development and to the parameters of a capital-driven market.

Curriculum Design

Master of Science in Real Estate Development program is designed as a 37-credit, 12-course curriculum that can be completed in 1 ½ to 2 ½ years depending on the course load taken by the student. The courses will be offered in two 15-week semesters per year, as well as two online course offerings in the 12-week summer semester. The program is not cohort-based; therefore students may enter in the summer, fall or spring semesters. Courses are self-sufficient and not sequential with the exception of the cumulative Capstone Project which must be taken in the student’s final semester.

Courses will be offered in the following rotation:

Fall Semester

  • MRE-620 Case Study Studio: Urban Revitalization, Adaptive Reuse & Historic
  • Neighborhoods (3.00 Credits)
  • MRE-601 Sustainable Real Estate Development Process (3.00 Credits)
  • MRE-615 Real Estate Finance and Investment (3.00 Credits)
  • GEOD-625 Internet GIS for Design and Development (3.00 Credits)

Spring Semester            

  • MRE-xxx Case Study Studio: Mixed-Use, Commercial and Health Care Facilities (3.00 Credits)
  • MRE-xxx Real Estate Law and Ethical Practices (3.00 Credits)
  • MRE-xxx Real Estate Market Analysis and Valuation (3.00 Credits)
  • MRE-xxx Public/Private Partnerships (3.00 Credits)

Summer Semester

  • SDNX-601 Principles and Methods of Sustainable Design (3.00 Credits: online)
  • MCM-600 Construction Estimating and Scheduling (3.00 Credits; online)

Fall Semester

  • MRE-xxx Entrepreneurship and the Deal-Making Process (3.00 Credits)
  • MRE-xxx Capstone Project/cross-listed SDN-622 Sustainable Design Studio (4 credits; fall semester) or SDN-621 Ecological Design Studio (4 credits; spring semester)