This course introduces the foundations of real estate development and will introduce students to market analysis, capital markets, site development, pro forma and the funding of real estate development projects. Throughout the semester students will learn to understand, explain, and analyze, and play the role that a developer of real estate undertakes to transform an idea into a constructed project. Other topics addressed include community planning, entitlements, design, construction, and asset management. A variety of real estate development projects are explored during the semester including residential, retail, office, hospitality, industrial and mixed use.

R: Graduate Standing

Typically offered in Fall and Spring

The Urban Plan Practicum course is a project-based learning curriculum that engages both advanced undergraduate and graduate students. Over the course of the semester, students take on roles and form teams to respond to a Request for Proposals for a fictitious block-scale project site. They must reconcile the competing agendas and consider tradeoffs to create a well-designed, market-responsive, and sustainable project. Each student team creates a financial proforma and a physical model of their plan and presents their proposal to a mock City Council that awards the development contract to the winning team.

R: Graduate Standing

Typically offered in Spring only

The next generation of city builders must address important questions about how American cities can be more vibrant, livable, inclusive, and sustainable. These questions touch on topics such as diverse housing options, feasible and resilient infrastructure development, and inclusive and vibrant public realm, among others. This course will explore the interplay of design, economics, and policy to address these difficult questions. Students will learn an interdisciplinary approach to solving city-scale challenges and pursue semester-long projects that address real-world challenges facing cities in the Raleigh-Durham region. Throughout the semester, students will be introduced to the roles and responsibilities of various parties and disciplines that engage in the design of cities, and the various economic, political, and social forces that shape communities.

R: Graduate Standing

Typically offered in Fall and Spring

Real Estate Construction is a complex undertaking that requires knowledge of how real estate development projects transition from vision, to planning and design, to regulatory approval, and finally to the building and transformation of project site into a pre-occupancy construction project. Through this course, students will gain an understanding of the scope of construction projects and knowledge of best practices associated with the real estate development construction, including budgeting, contracts, and project close out. Delivery of the course involves lectures, discussions, and fieldwork.

Restriction: Juniors or Seniors or Graduate Standing

Typically offered in Spring only

This course provides students with an overview of the site design development process, integrating disciplines of landscape architecture and civil engineering, as well as transportation, water resources, environmental, geotechnical, and construction. Emphasizing the importance of innovative and iterative design thinking, this course examines the role of the developer as the project designer and their role in leading, managing and collaborating with a design team, construction team, and project stakeholders to implement real estate development. Students will assume the role of lead site designer for a development company and be responsible for managing key elements of a specific project.

Restriction: Juniors or Seniors or Graduate Standing

Typically offered in Fall only

This course will introduce students to local and state legal concepts that are relevant in real estate law and familiarize students with terminology, concepts and procedures. Although the primary focus will be land use and entitlement, the course will also cover other areas of law and policy relevant to urban planning, including real estate law, Constitutional law, environmental law, contract law, and administrative law.

R: Graduate Standing

Typically offered in Fall and Spring

This comprehensive course offers an in-depth exploration of real estate investing, finance, and economics, with a strong focus on commercial real estate and its unique financial structures & economic inputs. Dive into the essentials of analyzing cash flow statements, including capital expenditures (CapEx) and depreciation, and learn to navigate traditional and alternative loan types. Key topics include tax strategies, debt & equity markets, opportunity costs and a host of other important economic factors involved in all real estate asset classes. Gain insight into financing methods as well as understanding the basic financial metrics like Net Operating Income (NOI), Capitalization Rate (Cap Rate), Return on Investment (ROI), Internal Rate of Return (IRR), Yield on Cost (YOC) and other variables. You will also be introduced to topics in residential real estate to serve as a knowledge base as you transition into the commercial real estate genre. Special guest speakers and industry leaders

Restriction: Graduate Standing

Typically offered in Fall only

This graduate-level course equips students with the analytical tools and frameworks to interpret and construct detailed financial proformas for investment decision-making. Students will examine core components such as Net Operating Income (NOI), Debt Service Coverage Ratio (DSCR), and rent rolls, learning how to use financial calculators to compute amortizations, effective loan rates, prepayments, present and future values (PV, FV), and multiple forms of internal rate of return (IRR, XIRR, Modified/Partitioned IRR). A strong emphasis is placed on understanding how market variables--interest rates, opportunity costs, and supply/demand--impact financial projections and valuation.

Restriction: Juniors or Seniors or Graduate Standing

Typically offered in Spring only

This course focuses on the intersecting complex systems of housing and includes North American cultural, political, and economic contexts and current trends in land-use planning, housing policy, and production methods.

Restriction: Juniors or Seniors or Graduate Standing

Typically offered in Fall only

Offered as needed to present material not normally available in regular course offerings or for offering new courses on a trial basis. Students may repeat this course under a different topic.

Restriction: Graduate, Senior, or Junior Undergraduate Standing. Or, by permission from the instructor.

Typically offered in Fall, Spring, and Summer