Curriculum

Develop your critical thinking about real estate development. In the Master of Real Estate Development (MRED) program, you’ll learn side-by-side with peers from various backgrounds, deepening your understanding of the development process.

The development process involves all disciplines represented by MRED program partners: The W. P. Carey School of Business, the Sandra Day O’Connor College of Law, the Herberger Institute for Design and the Arts, and the Del E. Webb School of Construction. Leading faculty members from each institution are selected to deliver this unique curriculum, and small class sizes provide opportunities for individual attention and interaction.

Real-World application

Reflecting real-world problems and solutions, three formal MRED synthesis projects cover the entire spectrum of development:

  • Residential
  • Income-Producing
  • High-Density Mixed-Use and Public-Private Partnership

Synthesis projects are presented to MRED faculty and a panel of industry leaders, who will critically evaluate your work. Teams are balanced to include members with varying experiences in order to maximize the internal learning experience, and mimic the actual development process.

Course descriptions

Explores basic principles of urban economics and their application to real estate decision making, including urban economic theory, location analysis, and the impact of location on use and land value. This foundational course discusses what real estate developers do, how they manage the development process, and various participants and their roles in the real estate development and investment process.

Addresses the concepts of valuation applied to real estate and teaches students how to apply these principals, with emphasis on how real estate capital markets function, creating detailed financial models, decision making, risk analysis and measures of financial performance.

Focuses on market analysis and market data gathering methods, means and techniques necessary in identifying market opportunities and developing specific market strategies for successful real estate development.

Investigates methodologies of business management issues in real estate development projects and companies, including organization, structure, balance sheets, intro to managerial accounting, project reporting, contracts, corporate tax issues.

Explores the basics of U.S. land use law, how these laws impact real estate use and development and how developers achieve necessary property rights and entitlements to allow implementation of development proposals.

Covers federal and state statutes and local ordinances dealing with real estate, real property, property rights and interests, buying and selling real property, and more.

Investigate a specific parcel of land and prepare a market and segmentation analysis, define highest and best use(s), design a solution, prepare residual land value analysis, define a product offering, price points, building design, site planning and comparative valuation analysis.

Defines the basic principles of engineering and construction of real estate development projects. Learn the basics of civil engineering, property survey, legal descriptions, topography, hydrology and soils, as well as regulatory issues and agencies.

Teach complex financial analysis of income producing property, including various decision making tools such as Monte Carlo, option pricing, assessing alternatives and how to build these into financial models.

Focuses on the management of real estate development companies and process, emphasizing various ownership structures, services and roles developers play, strategic positioning, company structure, investor relations, ethics and community focused responsible real estate development.

Examines the built environment and how that applies to creation of places, market positioning, capturing value and the importance of good design to the business of real estate. Emphasis is placed on how developers should work with design teams to seek salient problems and solutions.

Discusses key issues faced by developers, including types of financing structures including special districts, TIF and bond financing. It also deals with issues and process of raising capital and various forms of securing equity.

Expands upon Real Estate Engineering and Construction. This course deals with various construction delivery methods, construction project management and scheduling, construction contracts, and pay applications.

Investigate a specific parcel of land for use as an income producing property. Prepare a market and segmentation analysis, define highest and best use(s), design a solution, prepare residual land value analysis, define a product offering, price points, building design, site planning and comparative valuation analysis.

Employs all you have learned throughout the program and applies your knowledge to a specific problem. Work in team to analyze and seek solutions to development of land for a complex, mixed use project.

The Practicum Class provides a supplemental learning relationship where the student has the opportunity to engage with industry supporters and learn the real estate development business. Students have the opportunity to experience application of what they learned in class, discuss operations and decision making with industry leaders so that the students can learn to make better decisions about actual projects and discuss critical industry issues and trends. This relationship provides for both a formal and informal transmittal of knowledge, social capital, and support relevant to the students work, career, and/or professional development. This process entails face-to-face meetings with various industry leaders within the classroom setting. This is an academic experience and industry partners are providing valuable insight and serving in an advisory capacity only.