RED 507: Urban Economics and Synthesis Project #1 - Residential Development
This course explores the basic principles of urban economics and their application to real estate decision making. The course addresses urban economic theory, location analysis, and the impact of location on use and land value. In addition, the course discusses what real estate developers do, how they manage the development process, the various participants and their roles in the real estate development and investment process. Students learn about due diligence and conversion of information into decision making methods. This course is the foundation for many of the other courses taught in the program. In addition, this course employs the students learning through application to a specific problem given by faculty. Students work in teams to analyze and seek solutions. Students investigate a specific parcel of land and are required to perform due diligence, prepare a market and segmentation analysis, define highest and best use(s), design a solution, prepare residual land value analysis, define a product offering, price points, building design, site planning and comparative valuation analysis.
