Lecturer, University of Michigan Taubman College of Architecture and Urban Planning
Real Estate Development: Building Value in Your Community
What You'll Learn
- Describe the roles and responsibilities of a development team and the steps required to push a project forward
- Analyze the financial returns and investment potential of a development project using a financial modeling template
- Explore the relationship between real estate and community development, focusing on socially responsible practices and equitable approaches
- Assess market data, site conditions, and other metrics to ensure that due diligence is met
5 Modules
15 Hours
3 hrs per module (approx.)
Rating
About Real Estate Development: Building Value in Your Community
“Real Estate Development: Building Value in Your Community” provides an introductory understanding of real estate and community development. You will learn the fundamentals of real estate development, including development stages, team building, project feasibility, social impact, and financial modeling.
Through immersive, augmented reality experiences, you will be able to identify and analyze neighborhood-scale real estate development projects to determine feasibility and understand the implementation process. The course's unique focus on the community's history, demography, and culture will equip you with the knowledge to develop projects that center the community you’re building them in. By the end of the course, you will have gained the skills and knowledge to begin working with your community to invest in your area and create a positive impact for years to come.
Skills You'll Gain
- Community Development
- Community Organizing
- Due Diligence
- Financial Literacy
- Property Analysis
- Real Estate Valuation
- Risk Management
What You'll Earn
- Certificate of Completion:
- Certificates of completion acknowledge knowledge acquired upon completion of a non-credit course or program.
Welcome Message
Welcome to Real Estate Development: Building Value in Your Community, a course introducing the principles, processes, and financial analysis behind real estate development. Learners evaluate development decisions through community, financial, and risk-based perspectives.
This abbreviated syllabus description was created with the help of AI tools and reviewed by staff. The full syllabus is available to those who enroll in the course.
Course Schedule
Module 1: Introductions & General Principles
- Video: What to Expect
- Video: Program History
- Reading: Course Syllabus
- Reading: Impact of the Building Community Value In-Person Course
- Discussion Prompt: Sharing Your "Why"
- Reading: Pre-Course Survey
- Video: Real Estate: Defining Concepts
- Graded Assignment: Check for Understanding: Defining Concepts
- Video: Real Estate: The Development Team
- Graded Assignment: Check for Understanding: The Development Team
- Reading: Defining "Real Estate Development"
- Discussion Prompt: Reacting to "Defining Real Estate Development"
- Video: Defining Development Stages
- Reading: Real Estate Development: Eight-Stage Model
- Discussion Prompt: Reacting to the Eight-Stage Model
- Graded Assignment: Check for Understanding: Real Estate Key Concepts
- Video: Flow of Development Phases
- Video: The Price of Time
- Reading: Summary of Module 1
- Graded: Module 1 Quiz
Module 2: Idea and Approach
- Video: Understanding the Needs of Your Target Market
- Reading: The Power of Ten
- Discussion Prompt: Implementing the Power of Ten
- Graded Assignment: Check for Understanding: Paths of Growth & Power of Ten
- Video: Real Estate Development and Community
- Video: Project Goals & Impact
- Graded Assignment: Check for Understanding: Community Development & Project Goals
- Reading: Equitable Development Scorecards
- Video: Community Benefits of Real Estate
- Graded Assignment: Check for Understanding: Community Benefits of Real Estate
- Reading: The Public Interests
- Discussion Prompt: Grappling with Public Interests
- Video: Identifying and Understanding Risk
- Graded Assignment: Check for Understanding: Risk Management
- Video: Neighborhood-Scale Evaluation
- Video: Property-Scale Evaluation
- Discussion Prompt: Risk Evaluation
- Reading: Summary of Module 2
- Graded: Module 2 Quiz
Module 3: Feasibility Through Due Diligence
- Video: Due Diligence: Site Conditions
- Video: Due Diligence: Market Research
- Graded Assignment: Check for Understanding: Due Diligence
- Reading: Risk Control Through Due Diligence
- Discussion Prompt: What Should Have Been Done?
- Video: Comparative Sales and Rental Data
- Reading: Activity: Examine an Appraisal
- Graded Assignment: Check for Understanding: Interpret an Appraisal
- Video: Design and Construction Budget
- Video: Building the Capital Stack
- Reading: Activity: Examine a Construction Budget
- Graded Assignment: Check for Understanding: Construction Budget
- Discussion Prompt: Importance of Itemized Budgets
- Reading: Summary of Module 3
- Graded: Module 3 Quiz
Module 4: Financing
- Video: Financial Benefits of Real Estate
- Reading: Maximize Cash Flows and Grow Your Equity
- Discussion Prompt: Considering Cost Saving Implications
- Video: Calculating the Net Operating Income
- Graded Assignment: Check for Understanding: NOI
- Reading: A Closer Look at NOI
- Video: Before You Talk to a Lender
- Video: Using Leverage in Your Deal (Part 1)
- Video: Using Leverage in Your Deal (Part 2)
- Reading: Capital Stack, Leverage, and the Affordable Housing Shortage
- Discussion Prompt: Reacting to Capital Stack, Leverage, & Affordable Housing Reading
- Video: Understanding Financial Returns
- Discussion Prompt: Determining Your Ideal Return
- Reading: Summary of Module 4
- Graded: Module 4 Quiz
Module 5: Financial Modeling
- Reading: Pro Forma Preparation
- Video: Introduction to the Pro Forma
- Graded Assignment: Check for Understanding: The Pro Forma
- Reading: Case Study Details
- Video: Case Study: Pro Forma Walkthrough
- Discussion Prompt: Explore the Case Study Pro Forma
- Graded Assignment: Check for Understanding: Interpret the Case Study Pro Forma
- Reading: Preparing for Uncertainty
- Video: Sensitivity Analysis
- Reading: Introduction to the Module 5 Quiz
- Reading: Summary of Module 5
- Video: Course Wrap-Up
- Reading: Further Resources
- Reading: Post-Course Survey
- Graded: Module 5 Quiz
Grading Policy
This course consists of five content modules. Each module concludes with a graded quiz that assesses your ability to demonstrate the key learning outcomes for that module. Each quiz is worth 20% of your final grade. In order to pass this course and earn a certificate of completion, you will need to pass all of the graded assessments listed above AND achieve an overall course grade of at least 80%.
Course content developed by U-M faculty and managed by the university. Faculty titles and affiliations are updated periodically.
Beginner Level
Those who wish to learn more about the real estate development process to implement neighborhood-scale projects within their community.
Course Video
What Learners Are Saying
Community is vital to the success of real estate development projects of all types and at all scales. The main goal of community development is to build safer, healthier, and more resilient communities.
Chase Cantrell Lecturer, Taubman College of Architecture and Urban Planning
