Real estate development is the process by which ingenuity and financial capital are transformed into the built environments that shapes our cities and lives. This course takes students through the real estate development process. Starting with inception phase, we walk through the processes of market research, site selection, and working with public and private stakeholders. Students study how developers perform due diligence and manage risks in the pre-development phase. Students learn how developers raise capital through construction loans and complex joint venture partnerships. For managing the physical construction, we examine a variety of delivery methods, risk sharing agreements, and the construction contracts that govern them. Students also learn strategies for achieving stabilization, operation, and exit from the project. At every stage, we learn to balance risk and reward, with a focus on generating investment returns while making a lasting, positive impact on our cities.
