Real Estate Design and Development
This course will introduce the Real Estate development process and explore the interdependence of development drivers and the design process. Classroom learning, exercises and guest-lectures will introduce students to the concepts of market and financial analysis, as well as the basic techniques of budgeting, proforma development, and valuation. Parallel to this investigation, students will evaluate real world developments and interface with the development professionals that executed them to learn how development drivers shaped the development process and decision making. Students will study how market demand, tenant requirements, site constraints, and available capital affect feasibility, and through this the ultimate design solution. The semester?s effort culminates in the execution of a mini-development project. Students will work in teams to complete a basic market analysis, program evaluation, schematic design, construction and development cost estimate, proforma analysis, and a determination of financial feasibility. Development practitioners will interface with student teams during this mini-project to offer ?real world? guidance on student schematic designs and feasibility analysis.