4.254J / 11.303J
Real Estate Development Studio

Prerequisites: 
Permission of instructor

This subject provides students with skills and experience in synthesizing mixed-­‐use real estate development projects. It addresses the interaction among design, finance, market and public policy factors. As potential developers, or participants in the development process, students need to understand: steps in conceiving a project, what is good design in the private sector, how to make it financially viable, and how to synthesize a project from multiple constraints. The course is based on the philosophy that real estate development is a creative process. Students are encouraged to innovate as they synthesize all aspects of a project.

The subject is oriented to students who have already taken Real Estate Products and Real Estate Finance, although these are not prerequisites. We will also accept a limited number of additional students who bring skills in architecture, city planning, urban design or other disciplines related to real estate. This policy reflects the reality that development is a team effort requiring multiple disciplines. In the past, students from many backgrounds have benefited from, and contributed greatly to the class.

At the end, we expect students to submit a professional proposal for development that reflects their ingenuity and progress across the term.