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Harvard Graduate School of Design

Real Estate Development Fundamentals

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Next dates

Jul 22—23
2 days
Cambridge, Massachusetts, United States
USD 1400
USD 700 per day

Description

This two-day program is an excellent introduction to real estate development for entrepreneurs just starting in the business or joining an existing real estate development team, and for professionals adjacent to the real estate development business to enhance their understanding. During the program, we will cover all of the steps of the real estate development process, using examples from many asset types at many scales from all over the world.

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.

Learning Objectives

  • 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; and,
  • Recognize the skill, personality and skill characteristics often shared by successful real estate developers.

Who should attend

Public officials, potential entrepreneurs, and design, engineering, construction, legal, permitting, financing, marketing, or property management members of a real estate development team.

This course is not designed for real estate professionals seeking an advanced real estate development course.

Experts

Edward Marchant, Adjunct Lecturer in Public Policy, teaches courses on real estate development and finance and on the development, financing, and management of affordable and mixed-incomehousing. He also serves as has served as a faculty member in Harvards Executive Education programs sponsored b...
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