Real Estate Development (M.S.)
The Master of Science in Real Estate Development is designed to ensure that every graduate will have a grasp of the specialized legal, physical, analytical, and management concepts and skills required in the multidisciplinary, creative, and entrepreneurial world of real estate development. Important core elements include real estate finance, investment, law, land use, entitlements, design, planning, market analysis, feasibility analysis, construction, and project management.
CPI Code
04.1001 - Real Estate Development.
You can use the CIP code to learn more about career paths associated with this field of study and, for international students, possible post-graduation visa extensions. Learn more about CIP codes and other information resources.
Admission to the Master of Science in Real Estate Development is highly selective. Requirements include superior performance in attaining the bachelor’s degree from an accredited institution. Successful candidates must demonstrate strong writing skills with the ability to effectively communicate concepts and ideas subtly and succinctly. Basic verbal, quantitative, and communication skills will be assessed prior to matriculation, and any deficiencies corrected prior to beginning the program’s core courses. A GMAT/GRE is not required but may be submitted by students for consideration toward admission. The committee will also consider the nature and extent of previous work, with preference given to those possessing a minimum of two or more years of professional experience.
Who Should Apply
Applicants should have a bachelor’s degree in business, accounting, finance, economics, design or construction or related field, and one year of professional experience; or a bachelor’s degree in another field and two years of professional experience in real estate, design, construction, business, or a related field. Ideal candidates include the following:
- Real estate asset management personnel who want to go to the next level in their career.
- Real estate developers, investors, owners, and attorneys who want to further their professional skills.
- Design and construction industry professionals who want to better understand the broader perspective of the real estate developer or sponsor of a project.
- Current or former M.S. in Real Estate, M.S. in Construction Management, Advanced Certificate in Real Estate Finance, and Advanced Certificate in Construction Management students who wish to add a specialized designation in Real Estate Development.
| Course | Title | Credits |
|---|---|---|
| Core Courses | ||
| REAL 5104 | The Real Estate Development Process | 3 |
| REAL 5006 | Real Estate Legal Concepts and Contracts | 3 |
| REAL 5002 | Real Estate Finance | 3 |
| REAL 5008 | Real Estate Economics and Market Analysis | 3 |
| REAL 6051 | Advanced Construction Methods and Materials | 3 |
| REAL 6014 | Land Use Law | 1.5 |
| REAL 6015 | Planning and Design for Development | 1.5 |
| REAL 5058 | Pre-Construction Project Planning and Development | 3 |
| REAL 5012 | Real Estate Valuation and Investment Analysis | 3 |
| REAL 6002 | Real Estate Development Feasibility Study | 3 |
| Electives | ||
| Select 6 credits from the list below. | 6 | |
| Capstone | ||
| REAL 6400 | Real Estate Development Applied Project | 3 |
| Total Credits | 36 | |
Students who wish to receive both the Master of Science in Real Estate Development and the Advanced Certificate in Construction Management or the Advanced Certificate in Real Estate Finance may apply up to 9 credits of successfully completed coursework with a grade of B or better toward each program.
Electives
Courses in this group have the REDM attribute.
| Course | Title | Credits |
|---|---|---|
| REAL 5004 | Real Estate Accounting and Tax | 3 |
| REAL 5010 | Real Estate Structures and Capital Markets | 3 |
| REAL 5014 | Negotiation | 1.5 |
| REAL 5016 | Ethical Issues in Real Estate | 1.5 |
| REAL 5051 | Advanced Construction Contracts, Claims, and Dispute Resolution | 3 |
| REAL 5052 | Construction Financial Management | 1.5 |
| REAL 5054 | Construction Cost Estimating and Bidding Strategies | 1.5 |
| REAL 5056 | Construction Scheduling and Impact Analysis | 1.5 |
| REAL 5060 | Construction Project Delivery | 3 |
| REAL 5106 | Real Estate Asset Management | 3 |
| REAL 5108 | Real Estate Credit Analysis and Underwriting | 3 |
| REAL 6001 | Real Estate Financial Modeling | 1.5 |
| REAL 6003 | Private Equity | 1.5 |
| REAL 6004 | Adaptive Reuse and Sustainability | 1.5 |
| REAL 6005 | Commercial Mortgage-Backed Securities | 1.5 |
| REAL 6006 | Development Project Leadership, Management and Communications | 1.5 |
| REAL 6007 | Real Estate Investment Trusts | 1.5 |
| REAL 6008 | Affordable Housing | 1.5 |
| REAL 6009 | Commercial Leasing | 1.5 |
| REAL 6010 | Development Project Finance | 1.5 |
| REAL 6011 | Building Systems, Operations, and Maintenance | 1.5 |
| REAL 6012 | Global Real Estate Investment | 1.5 |
| REAL 6013 | Real Estate Management | 3 |
| REAL 6016 | Real Estate Entrepreneurship Business Planning | 1.5 |
| REAL 6018 | Real Estate Technology | 1.5 |
| REAL 6020 | Internship | 1.5 |
| REAL 6021 | Special Topics in Construction | 1.5 |
| REAL 6022 | Special Topics in Real Estate | 1.5 |
About the Curriculum
Core
The 27-credit core curriculum is designed to give students an in-depth mastery of the academic disciplines and applied functional areas necessary to every real estate development professional’s success. The core leaves students with essential analysis, critical thinking and decision-making skills while creating a common student experience that fosters community. Students are required to complete all 10 courses in the core.
Electives
The 6-credit elective course requirement offers students the opportunity to immerse themselves in specialized topics of their choice. Students may assemble their own elective sequences or select the courses that are part of the Advanced Certificate in Construction Management or the Advanced Certificate in Real Estate Finance.
Capstone
The 3-credit capstone (REAL 6400) is the culmination of all the knowledge and skills acquired throughout the program. Students must be able to assimilate all that they have learned in the core courses and apply it within the context of a real-world setting. Subject to advisor pre-approval, students will undertake an applied project under the direction of a faculty supervisor, that upon completion, will demonstrate professional level mastery of the subject matter involved.