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Real Estate Development Certificate

Real Estate Development Certificate

Real estate developers apply the principles of planning and design to create new projects in a variety of market sectors. This challenging field requires the developer to identify opportunities, analyze project financial feasibility, and implement projects from design through occupancy. The Real Estate Development Certificate introduces students to the fundamental concepts and skills needed to participate in this field. Students may also select courses in historic preservation, sustainable design or community development to focus their studies and be more knowledgeable in specific real estate markets.

Eligibility

The Real Estate Development Certificate is an online offering and is open to anyone interested in real estate development. All real estate development courses are offered remotely in synchronous sessions (US Eastern Time). Some elective courses are offered in an asynchronous fully online format.

An undergraduate degree is recommended, but not required for enrollment in this certificate program. Courses are taught at the graduate level.

Required Courses

The Real Estate Development Certificate program requires the completion of 9 credits—6 credits of required courses and 3 credits of elective courses. It is highly recommended that you begin with one or both of the required courses before moving on to the elective courses. 

You’ll take the same courses as students in the Master of Design Studies in Real Estate Development.

Real estate development courses are offered in either the fall or spring semesters. When elective courses are offered varies. See what Continuing Education Courses are coming up soon.


    Required Course | 6 Credits:

    REA3010 Resilient Real Estate Development: Design, Principles, and Processes, 3 credits (Offered Fall Semester)**

    Real estate development occurs within a complex framework of planning, legal and policy regulations. A development proposal must demonstrate compliance with a community’s comprehensive plan, zoning ordinance, subdivision regulations, and other policies. A local, state, or federal government may require compliance with real estate law environmental regulations on each level. Knowledge of the integration of development with public infrastructure, such as transportation or utilities, as well as a working understanding of community outreach and the public approvals process is necessary for the success of any development project. This course offers an overview, readings, discussions, and applied exercises that address the planning, policy, law and regulatory influences on real estate development.


    REA3013 Real Estate Finance, 3 credits (Offered Fall Semester)**

    With an emphasis on responsible development practices, students will study real estate development finance concepts and tools such as discounted cash flow, return on investment (ROI), and capitalization rate analyses and how these concepts and tools are implemented from project conception, through development, construction and into asset stabilization for both commercial and residential projects. Students will explore options available for funding and financing a project such as capital, debt, and equity markets; review regulations for public financing options and application procedures for various types of financing; define key financial terms and concepts; and discuss ways to fund and raise money for a first project.


    **Highly Recommended as first course(s).

    Recommended Elective Courses

    Emphasizing the importance of innovative and iterative design thinking, this course will stress the role of the developer as the project designer writ large and the developer’s role in leading, managing and collaborating with the spatial design and construction team. Managing project design and construction Students will write a project design brief defining resiliency, social and financial goals, program design parameters, a project timeline/schedule, and the preliminary construction cost; evaluated project delivery options; engage in evaluating and hiring design and construction team members; and practice the process and procedures for leading and managing the project during design and construction.

    Students will investigate the physical characteristics and constraints of a site (and/or an existing building) and how those characteristics and constraints will affect a proposed development project. A typical site assessment includes analysis of topography, soils, environmental conditions, infrastructure, site access, adjacent properties and uses, existing building conditions, and other relevant factors.

    Students will review laws and legal principles applicable to real estate development, options for property ownership structures, environmental regulations, identify incentives, policies and taxes that influence development, and study real estate contracts and the transactions typically executed for real estate projects. Students will investigate strategies and procedures to gain control of a property and to secure jurisdictional approvals needed for a project. Students will study how to engage the local political and community participants and stakeholders that will influence a project’s development, timeline, and acceptance.

    Students will study the critical importance of market research and analysis in deciding the use and feasibility of a project and how market research and project marketing is conducted, developed, and implemented through the different stages of a development project from concept inception to on-going operations and property appraisal. Students will examine resources to assess market trends, to make decisions about acceptance of a proposed use in the marketplace, and to adjust a marketing strategy in the face of a changing marketplace.

    Students will investigate the options, risks, opportunities, responsibilities, principles and procedures related to the project after construction completion including the marketing and/or sale of the project and the operation and management of the project as a single asset, part of a property portfolio, or institutional management plan.

    Related Elective Courses

    Real Estate Development Related Electives in Community Development, Historic Preservation, and Sustainable Design

    Real estate development occurs within a complex framework of planning, legal and policy regulations. A development proposal must demonstrate compliance with a community’s comprehensive plan, zoning ordinance, subdivision regulations, and other policies. A local, state, or federal government may require compliance with real estate law environmental regulations on each level. Knowledge of the integration of development with public infrastructure, such as transportation or utilities, as well as a working understanding of community outreach and the public approvals process is necessary for the success of any development project. This course offers an overview, readings, discussions, and applied exercises that address the planning, policy, law and regulatory influences on real estate development.

    This course is based on the history and current practice of the community development process, the empowerment of communities through resident leadership, and the active participation of people living in neighborhoods where years of neglect by real estate developers left a deteriorating housing stock, boarded-up storefronts, and other signs of disinvestment. This is a place making course that takes into consideration the history of the struggle for land use in inner city communities that have encountered systematic neglect from developers. It also includes a summary of the development of affordable housing, main street district storefronts, youth centers, and other community based real estate initiatives that have emerged over the past five decades since landmark federal legislation such as the Civil Rights Act (1964) and the Community Reinvestment Act (1977). Introduction to Community Development details how past, active, and future real estate deals are connected to and arise from community leadership. Other topics include the expansion of a network of Community Development Corporations (CDCs), Business Improvement Districts (BIDs), Main Streets, and other non-profits directly involved in place making and land use decisions. Positive outcomes that reflect the desire of residents will also treated in some detail. Attention will be given to the financing of community development projects through government grants, private foundations, tax credits, and other gap funding sources. A history and summary of key community leaders in Greater Boston and other cities nationally is included. Emerging trends such as New Urbanism, Smart Growth, Greening the City, Green

    Buildings, and Historic Preservation are also profiled as communities expand the range of projects they are demanding. At the end of the first week, students will be divided into two groups: Group 1 – The Development Team; and Group 2: The Neighborhood to prepare a presentation and push-back for a major real estate development in Dudley Square. This will lead to a final class that models a Zoning Board of Appeal s (ZBA) hearing. Students should anticipate a series of guest lectures from community practitioners working on a wide range of real estate projects.

    Real estate development is a collaborative endeavor requiring leadership and management of a team of professional experts, diverse participants, and interested stakeholders. This course will present the developer as the iterative design thinker and innovator who leads the development team through effective decision-making, communication, and negotiation. Students will study leadership theories, principles of collaboration, negotiation strategies, and communication methods. They will study how effective written, oral, and graphic communication skills are essential to project leadership, decision-making, and management.

    This course will explore the history of the preservation movement worldwide, with a special focus on the philosophy and practice of historic preservation in the United States. We will explore and critique the social, historical and cultural roots and contemporary meanings of historic preservation and the future of the profession and examine case studies from around the country.

    This course introduces students to the regulatory landscape within which historic preservation practitioners of all types must operate. It examines the legislative hierarchy of federal, state, and local laws that provide the framework to implement historic preservation practices. This course also explores the social, economic, and policy issues that impact the practice of preservation. Such matters including housing justice, sustainability, gentrification, government transparency and the public process, community advocacy, zoning, building code, and local commission powers will be woven throughout the course. The role of the preservation planner and that of preservation planning in the larger context of strategic planning and community development will also be explored. Students will examine current preservation issues and gain a better understanding of how preservation policies impact the historic built environment and the lives of those who live in it.

    This course introduces the student to historic building adaptive reuse and the analytical techniques and decision-making processes that shape the certified rehabilitation project. By “certified”, the intent is to meet or exceed the Secretary of the Interior’s Standards and Guideline for Rehabilitation in terms of creating a “synthesis of form” in which a historic property that is listed on or eligible for listing on the National Register of Historic Places is adapted to a new use.

    In this course we will examine the tourism industry and how it connects to historic preservation and sustainable development. Students will learn the history of tourism, the different facets of the tourism industry, economic development and the concepts/methodology of placemaking. Students will have weekly assignments where they have to explore the various themes of the class by visiting local tourist sites and museums and reporting back to the class. Most of the class will focus on heritage tourism and tourism in urban areas, but topics of sustainability and environmental impact will be integrated into each course topic.

    In recent years, numerous theories about sustainable development and urban living have emerged. New urbanism, landscape urbanism, ecological urbanism, sustainable urbanism, are just a few to mention. Each of these planning and design theories introduces new ideas and principles; some of them even issue manifestos. How different actually are these urbanisms? Does one preclude the other? How do these theories contribute to sustainable development? This course reviews the most current among these movements, their basic tenets and positions. Students will apply observations derived from the comparison of urbanist theories to sample urban and suburban sites, and draw conclusions about sustainable development. Course discussions and assignments are aimed at establishing sound and well-informed professional approaches.

    As the art and science of sensitively adapting historic buildings for continued and new uses, preservation is inherently a sustainable practice. Learn how old buildings were built with features that conserve energy and create a comfortable environment. Develop a framework for evaluating energy-saving options for historic buildings and the special considerations they require. Build your knowledge of current best practices in the field regarding windows, insulation, renewables and more. This course will help you design energy improvements that meet historic preservation guidelines whether you're trying to comply with regulatory requirements in a local design review process or federally funded project, or just want to promote the long term sustainability of historic buildings. Discussion topics will include environmental quality, materials selection, and energy rating systems like LEED.

    The existing building stock is here and much of it is responsible for consuming energy, water and other resources at an unsustainable rate from both the environmental and the economic standpoints. Focusing on non-residential buildings, this course will examine the issues, techniques and processes that are involved in turning these buildings into sustainable consumers, whether through relatively simple retrofits or major renovations. Among the topics to be reviewed will be assessing existing performance, instituting building commissioning, improving energy and water efficiency, limiting (re)construction waste, improving indoor environmental quality, supporting sustainable operations and considering renewable energy sources.

    That cities have the potential to be the most sustainable form of human development is coming to be widely recognized, as is the fact that most cities have a long way to go to realize that potential. Progress is being made, however, in terms of improvements to infrastructure and the building stock, innovative transportation and development policies and programs, revised codes, and other measures designed to encourage sustainability. This course will examine the most innovative approaches to greening cities around the US and other countries and consider both their successes -and failures- and their applicability to different regions and cultures. Among other things, the important role of conflict resolution as major changes are being made in a city will be considered.

    The concept of an environmentally conscious building should take into account energy consumption, the quality of indoor air, and most importantly human comfort. Indigenous strategies that adapt to the rigors of the local climate and contemporary bioclimatic architecture are part of this introductory course to sustainable design. Participants will be introduced to the human needs for comfort and shelter as well as psychrometrics and the physics of heat transfer and heat loss calculations. Building form, orientation, and indoor spaces will also be discussed as they relate to sun, wind, and site, as well as bioclimatic design, passive solar design, natural cooling, and daylighting.

    This course gives students the tools they need to evaluate a material based on how it impacts the built and natural environment. Since people in western cultures tend to spend most of their time indoors, specific attention will be paid to Indoor Environmental Quality (IEQ). Environmentally responsible materials selection will be discussed, including the importance of waste, Life Cycle Assessment (LCA), and all aspects of the manufacturing process. Interior design issues that are covered include the importance of natural daylighting, Indoor Air Quality (IAQ), and acoustics. Current materials rating systems and specification writing aids will be reviewed. Case studies representing best practices in sustainable design of interiors will be presented for discussion. This course is directly useful to anyone selecting materials for any kind of building project.

    This course will examine how communities across the nation are grappling with such smart growth issues as affordable housing, sprawl, urban revitalization, economic development, transportation investments, and open space protection. These issues are also collectively referred to as sustainable development, growth management or New Urbanism. The course will cover the history of sprawl and current policy debates about land use, urban design, regulation, and public and private investment. The course will feature critiques of specific development projects, tailored to the interests of students.

    How to Enroll in a Certificate Program

    To enroll in a BAC Certificate Program, submit the following application materials to Continuing Education and then register for courses during an open registration period:

    Please Note: An undergraduate degree is recommended for the Sustainable Design Certificate, the Real Estate Development Certificate, and the Historic Preservation Certificate. Courses in these certificate programs are taught at the graduate level.

    Certificate students must begin academic coursework in the program within two academic semesters of submitting the application materials. 

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