Expect a lively and engaging interactive classroom experience! We will focus on the role of the real estate developer and the primary stages and steps in the real estate development process, including: identifying development opportunities; defining financial objectives and the development program; preparing project schedules and budgets; undertaking feasibility studies incorporating zoning, environmental, design, market, and financial factors; evaluating risks and rewards and defining risk management strategies; defining site selection criteria and gaining site control; negotiating required entitlements; assembling and managing the development team; creating the appropriate legal ownership entity structure; securing debt and equity financing; managing the design and construction process; marketing the asset; and managing the completed asset, including both property management and asset management.

This “nuts-and-bolts” program introduces potential entrepreneurs to real estate development and helps new members of established development teams understand how real estate development fundamentals relate to their primary design, engineering, construction, legal, permitting, financing, marketing, or property management roles as members of a real estate development team. The program is also valuable to intermediaries in the real estate development process including public officials responsible for reviewing, approving, and/or monitoring proposed real estate projects, particularly public-private partnership (PPP) projects.

We will present critical real estate development principles and practices in a simple, understandable, and interactive manner that will demystify the real estate development process regardless of participants’ prior level of real estate development experience. Via breakout groups, we will choose several possible properties from among those nominated by students, and use them as case-study developments for stress-testing risks and risk mitigants.

Varied asset types (residential, office, retail, hospitality, industrial and mixed-use) will be referenced to illustrate critical development principles. We will also discuss the skill, personality and style characteristics often shared by successful real estate developers.

• Understand the role of the developer in the real estate development process.
• Identify and understand the key stages and steps in the real estate development process, including an understanding of the interrelationships among these stages and the relative importance of each step.
• Evaluate the potential risks and rewards associated with real estate development.
• Appreciate real estate development process similarities and differences among varied asset types.
• Understand the importance of a project’s “Cap Rate” as a critical financial measure of return.
• Recognize the skill, personality, and skill characteristics often shared by successful real estate developers.

• Beginning or potential real estate development entrepreneurs; design, engineering, construction, legal, permitting, financing, marketing, or property management professionals who are members of a real estate development team; and public regulatory officials responsible for reviewing and approving proposed real estate developments.
• This course is not designed for real estate professionals seeking an advanced real estate development course. For experienced executives, please consider the Advanced Management Development Program.