Real Estate Design and Development Fundamentals --- This course examines the mechanisms through which real estate is developed in the United States. Through lectures, reading, field trips, and guest speakers, the course analyzes the interaction of public agencies, developers, and designers in the initiation, financing, and design of developments. Case studies drawn from the local context as well as specific regions throughout the U.S. provide concrete demonstrations of how buildings emerge through negotiation among these various parties. By analyzing the structure of existing developments and generating their own development proposals, students will develop the skills to participate effectively within the complex ecology of powers and agendas governing real estate development and its effects on the building, the city and the region. The course address the following topics: Development fundamentals: Theoretical and historical analysis of how markets interact with regulatory systems such as zoning, land use regulations, building codes, tax codes, and government approval processes. Evaluating economic feasibility: Analysis of developers' spreadsheets and decision-making process as proposals interact with lenders, governmental agencies, and other stakeholders in the development process. Structuring developments: Training in how to evaluate risk, structure financing, understand incentives for spurring development as well as social and environmental goals. The course will also engage students in negotiating and presenting proposals collaboratively.
Tue, Thu 11:30am-1:00pm 1360 A&AB