What do students learn?

The following core knowledge and core competencies are acquired by students of the Land Development program:

Real Estate and Planning Law

  • Ownership rights, interests, property conveyance, title insurance,  easements and encumbrances, deed restrictions, eminent domain, land use regulation
  • LOIs, purchase and sale contracts, options, contingency contracts, specific performance, subordination and assignment, leases; takings, due process, zoning case law, and court rulings

Real Estate Economics

  • Supply and demand for space, market and capital cycles, real estate characteristics
  • Bid rent curves, impact of policy on value, types of markets

Real Estate Valuation

  • Appraisal techniques and importance, highest and best use
  • Three approaches to valuation, developer and lender reliance in financing

Real Estate Finance, Feasibility Analysis and Project Funding

  • Deal structuring, debt and equity markets, project performance measures, return expectations, loan agreements and closing
  • Pro formas, computer DCF modeling, capital stacking, term sheets, types of loans, carve-outs, guarantees/enhancements, risk reduction, loan and investor packages
  • Waterfall distribution of returns to equity and promotes

Development Organizations and Agreements

  • Development operating companies, project ownership entities, development agreements, business plans
  • Creation, operation and advantages of LLCs, Limited Partnerships and Joint Ventures
  • Operating agreements and partnership agreements

Market Analysis

  • Commissioning, critiquing, and using market studies
  • Market segmentation, marketability analysis, demographics, standards and differentials, absorption and capture rates, target markets

Identification and Qualification of a Development Opportunity

  • Development programs, deal sourcing, idea inception techniques, site evaluation, situs, due diligence, and public/private partnerships
  • Development program requirements, value creation, development timing, location analysis, accessibility, legal, physical, environmental, social, and financial considerations

 Development Conceptualization and Design

  • Site analysis, conceptual, preliminary and final design techniques, design efficiency, land planning and infrastructure design, emerging sustainable design concepts
  • Soils, slope, floodplains, wetlands, grading, utilities and paving design, conservation easements, parks, amenity and product designs and sustainability innovations

Development Entitlement and Regulation

  • Comprehensive planning, zoning, annexation, PDs and PUDs, plan and plat approvals, infrastructure finance
  • Entitlement process and procedures, neighborhood approval, exactions, impact fees, facilities agreements, proportionality fees, pro rata agreements, and rezoning

Development Budgeting, Process and Delivery

  • Capital budgeting, cash management, construction scheduling, final acceptance and plat filing
  • Construction contracts, bids, awards, timelines, invoicing, progress payments, bank draws, substantial completion, lien releases, performance bonds, record plats and plans

Marketing, Leasing and Sales

  • Establishing marketing strategies, employing marketing companies, negotiating contracts
  • Managing marketing companies, leasing and sales agents, establishing performance goals, timelines and budgets

Property Management and Project Termination

  • Engaging property management companies, establishing property owners associations, asset management techniques and strategies
  • DCCRs, HOAs, property governance strategies, positioning the project in the marketplace, asset management strategy, property reversion and dissolution of ownership