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 to understand how real estate development fundamentals relate to their primary design, engineering, construction, legal, permitting, financing, marketing, or property management role as a member 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. This program is not designed for real estate professionals seeking an advanced real estate development course.
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. Varied asset types (residential, office, retail, hospitality, industrial and mixed-use) will illustrate certain development principles, with examples from both the US and worldwide. We will also discuss the skill, personality and style characteristics often shared by successful real estate developers.
