Master of Real Estate Development
From Wikinvestor
The Master of Real Estate Development, Master of Science in Real Estate Development, MRED or MsRED, is a degree offered at several universities in the United States. MRED programs generally focus on the three main elements of real estate development; design, finance, and policy. Students are generally exposed to the full range of development functions - market analysis, finance, site planning, and project management and operations, in addition to all real estate product types - residential, retail, office, hospitality, and industrial. Whether in the context of urban redevelopment, historic preservation, or suburban growth, MRED students learn from the developer's perspective the importance of relevant issues in law, economics, finance, market analysis, negotiation, architecture, urban history, planning, and construction project management.[1]
The programs are a full-immersion focusing on the entire real estate development process-from dirt-to-deal, finance to façade-and includes industry topics presented by leading local and national developers. The typical MRED student is a highly motivated individual who seeks to radically alter or enhance their career paths and join the real estate development industry. Students who graduate from the programs are committed to a career in real estate development.
Contents |
Background
For a long time, those wishing to study real estate development had to content themselves with pursuing a Master of Business Administration degree, perhaps with the option of concentration in real estate, and usually with a focus in finance. Seeking to fill a gap in the scope of the traditional MBA, real estate development leaders across the country needed a way to education men and women to compete in the global market with superior qualifications — providing the research-based expertise necessary to solve complex problems in contemporary real estate development. In the past three decades, a number of top academic institutions in the United States have created masters degrees specifically in real estate development.
Formal graduate education in real estate development began with the founding of the MIT Center for Real Estate in 1983. Other universities followed in establishing masters level programs with University of Southern California (1986), Clemson University (2001), Arizona State University (2003), University of Maryland (2006) and University of Miami (2009). George Mason University in Fairfax, Virginia is currently seeking approval to offer a degree program by September 2009[2].
Degree Programs
| University | Degree granted |
|---|---|
| Arizona State University | Master of Real Estate Development[3] |
| Clemson University | Master of Real Estate Development[4] |
| Columbia University | Master of Science in Real Estate Development[5] |
| Massachusetts Institute of Technology | Master of Science in Real Estate Development[6] |
| University of Miami | Master of Real Estate Development and Urbanism [7] |
| University of Maryland | Master of Real Estate Development [8] |
| University of Southern Californi] | Master of Real Estate Development [9] |
| Texas A&M University | Master of Science in Land Development [10] |
Executive or Professional Education
- Harvard University, Master in Design Studies, Real Estate and Urban Development [11]
- MIT Center for Real Estate [12]
Curriculum
Schools offering MRED programs can typically be completed with one full year study. Some programs as an example, the MRED program at Clemson University requires 54 credits of coursework in a full-time two year study. By contrast, the one-year MIT program focuses solely on the real estate asset and its related disciplines. The slight difference in coursework is usually contributed to additional study in general business.
Difference from MBA Programs
The MRED programs teach the specific analytical skills necessary to succeed in all aspects of the real estate development process, whereas the traditional MBA aims for a broad understanding of general business management. The MRED programs features unique coursework that stresses immersion within a focused curriculum including Real Estate Finance, Asset Management and Repositioning, Architecture, Real Estate Law, Construction, City Planning and Public Sector Partnerships. These courses are not offered in traditional MBA programs that typically offer only two or three classes focusing on real estate. The MSRED does not contain classes unrelated to Real Estate Development.
Additionally, the MRED programs offer greater exposure to the working real estate experience by providing access to industry networking events and conferences. At most schools, industry experts and leaders in the field are adjunct professors.
Other Comparable Master Degree Programs
- Master of Science in Real Estate (MSRE)
- Master in Land Economy (MLE)
- Master of Urban Planning (MUP)
- Master of Urban Studies (MURB)
- Master of Science in Finance and Real Estate (MSF&RE)
References
- ↑ Urban Land Magazine School for Developers, Washington, D.C.: Urban Land Institute, March 2008
- ↑ http://realestate.gmu.edu/degree.html
- ↑ http://mred.asu.edu/
- ↑ http://www.clemson.edu/caah/pla/mred/index.php
- ↑ http://www.arch.columbia.edu/realestate/
- ↑ http://web.mit.edu/cre/education/masters-degree.html
- ↑ http://arc.miami.edu/programs/m-real-estate-development-and-urbanism
- ↑ http://www.arch.umd.edu/real_estate_development/
- ↑ http://www.usc.edu/schools/sppd/programs/masters/mred/
- ↑ http://archone.tamu.edu/laup/Programs/MSLD_index.html
- ↑ http://projects.gsd.harvard.edu/redclub/mds.htm
- ↑ http://web.mit.edu/cre/education/profed/
See Also
External links
- The Urban Land Institute - A professional association for real estate developers and related professions
