| Course ID: | REAL 5070S. 3 hours. |
| Course Title: | Real Estate Development |
Course
Description: | The real estate development process, with particular emphasis on
analyzing the feasibility of design, location, and construction. |
| Oasis Title: | Real Estate Development |
| Duplicate Credit: | Not open to students with credit in REAL 5070, REAL 7070 |
| Nontraditional Format: | This course includes a service-learning project during the
semester that either employs skills or knowledge learned in
the course or teaches new skills or knowledge related to
course objectives. Student engagement in the service-learning
component will be up to 25% of overall instruction time. |
| Prerequisite: | REAL 4000 or REAL 4000E or REAL 4000H |
Semester Course
Offered: | Offered every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | 1. Familiarize the student with a variety of analytical tools
and methods applicable to the real estate development process.
2. Acquaint the student with current issues that will affect
those individuals who would like to be involved in property
development.
3. This course also includes a service-learning component.
Students will identify a vacant/abandoned/underutilized property
in Athens-Clarke County and will formulate a development plan
for the property. The students’ development plan will include:
a. A thorough site analysis of the property that they have
chosen.
b. A detailed site plan of their proposed
development/redevelopment of the property. Students will work in
consultation with the staff of the Athens-Clarke County Planning
Department to ensure that their site plan complies with the
local land-use regulations.
4. A detailed financing plan for their proposed development.
Students will work in consultation with local commercial real
estate lenders in order to ensure that their financing plan
reflects current market trends.
5. An assessment of the financial feasibility of their
development proposal. Students will work in consultation with
local real estate professionals in order to ensure that the
assumptions underlying their financial analysis are accurate
and indicative of current market trends. |
| Topical Outline: | I. Real Estate Development Concepts and Techniques
A. The Real Estate Development Process
B. Development Policy Issues
C. Site Selection Basics
D. Back-of-the-Envelope Feasibility Analysis
E. The Land Development Process
F. Site Analysis and Evaluation
G. Land Development Financing
H. Intensity of Use
I. Analysis for Redevelopment and Renovation
II. Urban Economics and Real Estate Markets
A. The Formation of Cities
B. Theories of Urban Growth
C. Urban Rent Theory
D. Real Estate Markets
E. Introduction to Real Estate Market Analysis
F. The Economic Base Model
G. The Retail Market Study
H. The Office Market Study
I. The Housing Market Study
J. The Real Estate Development Pro Forma
III. The Public Sector and Real Estate Development
A. Land-Use Regulation
B. Tax-Increment Financing
C. Brownfields
D. Wetlands
E. New Urbanism and Smart Growth
IV. A service-learning group project is included. |