Introduction to Real Estate Development and Finance

Urban planning and policy can shape cities, but in most cases our environment is actually built, project by project, by individual developers, whose choices of land use, building types, construction methods and operations are shaped by economic factors. Private equity funds, non-profit housing trusts, retailers, hotel operators and entrepreneurs all must grapple with the costs and risks, and potential returns and social impacts of a development project. Students in this course will learn the fundamentals of development, including the valuation of land and structures, financing with debt and equity, non-profit mission-driven development, modeling investment flows and managing risk.

Originally trained as an architect, David Hamilton has managed and consulted on innovative development and construction projects in tech office, healthcare, housing and farmland conservation. He teaches at Harvard University’s Graduate School of Design, and is the co-author of Professional Real Estate Development, ULI Press./