1401 east university boulevard administration, room 302 p ... · development finance, and real...

1401 East University Boulevard Administration, Room 302

P.O. Box 210066 Tucson, AZ 85721-0066 Phone: (520) 621-7815

Fax: (520) 621-4101 grad.arizona.edu

October 31, 2017 Lauri Macmillan Johnson Professor and Director School of Landscape Architecture and Planning College of Architecture, Planning, and Landscape Architecture RE: Approval of

MRED Online Graduate Certificate in Real Estate Development Analysis Graduate Certificate in Real Estate Development Finance Graduate Certificate in Real Estate Development Practice Dear Prof. Johnson: The Graduate Programs Executive Review Committee, with members representing the Graduate College, Curricular Affairs, and Graduate Council, approved your request for curricular re-design of the Masters of Real Estate and Development degree to be offered via UA Online. As this curriculum requires the same number of units and meets the same learning outcomes as your existing MRED offered on the main campus, no further approval is needed. The curricular comprises course work contained in three graduate certificates, each representing a distinct area of study, and when combined along with the required capstone course, complete the requirements for the Masters of Real Estate Development (MRED). In addition to the Grad Programs Executive Review Committee, the College Academic Administrators Council also approved the Graduate Certificates in Real Estate Development Analysis, Real Estate Development Finance, and Real Estate Development Practice. The committee requests that the program description for the degree and for each certificate clearly state the options a student may have to earn the certificates as stand-alone options, or as components leading to the MRED. Students may earn the certificates independently as non-degree seeking students, or while in degree status. Those intending to earn an MRED degree should be advised to apply to the degree program at the earliest possible opportunity. We are requesting that the appropriate changes be made to the academic systems, records, and publications to reflect the creation of these new certificates and the online MRED. The first admit term for all will be Fall 2018. Sincerely,

Janet L. Sturman, Ph.D. Associate Dean Graduate College cc. A. Carnie, P. Coonan, W. Klimecki, J. Field, M. Marquez, K. Van Renterghem, E. Bowler, P. Pronze, R. Gowin, A. Moraga

MRED Program Coordinator Adam Boudreaux 520.626.1151 CAPLA Student Advising Center [email protected] Graduate Program Coordinator Amy Moraga 520.621.9819 [email protected]

Director Lauri Macmillan Johnson CAPLA Room A303A [email protected] 520.621.8790

School of Landscape Architecture and Planning PO Box 210075, Tucson, AZ, 85721-0075 1040 N. Olive Rd., A303B, Tucson AZ, 85719-0075 520.621.1004 Capla.arizona.edu

Updated 4-6-16

For more information, please visit us on line at capla.arizona.edu

Online MRED Degree - 30 Units

Certificate 9 - 12 units

Certificate: Process

RED 610 Survey of Responsible Development A. Nelson 3

RED 576 Land Development Process Pivo/ Bidolli 3

RED 625 Market Analysis B. Bidolli 3

Certificate: Finance

RED 501 Intro to Real Estate Finance D. Sanderford 3

RED 605 Advanced Real Estate Finance D. Sanderford 3

RED 585 Economic for Planning & Real Estate Development A. Nelson 3


Certificate: Development

RED 509 Due Diligence & Entitlements L. Kafka 3

LAR 515 Sustainable Ecotourism Development B. Yang 3

RED 515 Construction & Project Management K. Currans 3


Capstone: MRED Degree

RED 698

Professional Project for Responsible Development

E. Guerrero

3

MASTER OF REAL ESTATE DEVELOPMENT

MRED Program Coordinator Brian Bidolli 520.626.1151 CAPLA Student Advising Center [email protected] Graduate Program Coordinator Amy Moraga 520.621.9819 [email protected]

Director Lauri Macmillan Johnson CAPLA Room A303A [email protected] 520.621.8790

School of Landscape Architecture and Planning PO Box 210075, Tucson, AZ, 85721-0075 1040 N. Olive Rd., A303B, Tucson AZ, 85719-0075 520.621.1004 Capla.arizona.edu

For more information, please visit us on line at capla.arizona.edu

MRED Degree ‐ 30 Units

The MRED degree is comprised of three certificates: The Graduate Certificate in Real Estate Development Analysis, The Graduate Certificate in Real Estate Development Finance, The Graduate Certificate in Real Estate Development Practice, and RED 698 Professional Project for Real Estate Development. The certificates and related courses may be taken in any order, with the exception of the following: RED 610 must be taken within the first 9 units of the program. Certificates can be taken independently of the degree but students are encouraged to apply for the degree within the first 9 units of study.

Graduate Certificate in Real Estate Development Analysis

RED 610 Survey of Responsible Real Estate Development A. Nelson 3

RED 576 The Land Development Process Pivo/ Bidolli 3

RED 625 Market Analysis for Responsible Real Estate Development B. Bidolli 3

Graduate Certificate in Real Estate Development Finance


RED 501 Intro to Real Estate Finance D. Sanderford 3

RED 605 Advanced Real Estate Finance: Software & Technology D. Sanderford 3

RED 585 Foundations of Economic for Planning & Real Estate Development

A. Nelson 3

Graduate Certificate in Real Estate Development Practice


RED 509 Due Diligence & Entitlements L. Kafka 3

RED 522* Landscape Analysis B. Yang 3

RED 515 Construction & Project Management K. Currans 3 Capstone: MRED Degree

RED 698 Professional Project for Real Estate Development E. Guerrero 3

* RED XXX Urban Form & Placemaking (will replace RED 522 in 2019) B. Yang 3

MASTER OF REAL ESTATE DEVELOPMENT

GRADUATE CERTIFICATE – IMPLEMENTATION REQUEST

I. Certificate Name and CIP Code

a. Indicate the title and level of the certificate (e.g., Medical Anthropology Graduate Certificate or Medical Anthropology Post‐Master’s Certificate).

Graduate Certificate in Real Estate Development Analysis

b. Indicate the CIP Code for the proposed certificate. Select an appropriate CIP Code for the certificate from National Center for Education Statistics web site (http://nces.ed.gov/) or contact Patti King (621‐4107 or [email protected]) for assistance in selecting a CIP Code.

CIP CODE 04.10

II. Requested by ‐ managing department, college, and oversight committee membership

Master of Real Estate Development (MRED) (faculty oversight) School of Landscape Architecture and Planning College of Architecture, Planning & Landscape Architecture (CAPLA)

III. Program Affiliation – specify whether the UA offers an affiliated graduate program – the affiliated program may or may not have the same name as the proposed certificate.

Master of Real Estate Development (MRED) Program

IV. Certificate Description and Purpose:

This certificate is one of three certificates that culminate in the completion of the MRED degree. These include: The Certificate in Real Estate Development Analysis, the Certificate in Real Estate Development Finance, and the Certificate in Real Estate Development Practice. To receive the MRED degree a student must successfully complete all three certificates (in any order) + RED 698 Professional Project for Real Estate Development (a 3 unit capstone project). The Office of Academic Initiatives and Student Success (AISS) will offer assistance in on‐line course development and marketing of the MRED degree and the three “stackable” certificates outlined in this proposal.

Specifically, the Certificate in Real Estate Development Analysis focuses on the

fundamentals of real estate development and the processes by which public and private

sector decisions are made. Students will understand the historical development of real

estate markets and the associated impacts on risk and return.

V. Certificate Requirements

a. List the certificate requirements, including number of credit hours required and any special requirements for completion. Certificate requirements should include sufficient units to provide a substantive program and an appropriate level of academic rigor and in no case be less than 9 units of credit.

Graduate Certificate in Real Estate Development Analysis (9 units)

b. List current and new courses needed to meet certificate requirements, including course prefix/number, title and number of units. New courses should be designated as such and include a proposed prefix/number, title, catalog description and number of units. No less than 50% of the course work applied to a certificate must be taken for a regular letter grade.

There are no new courses proposed as part of this certificate. Courses in the Graduate Certificate in Real Estate Development Analysis will be offered as follows:

RED 610 Survey of Responsible Real Estate Development (3 units): There is an interest in assuring that real estate development of the future is more socially, environmentally, and economically responsible than in the past. Emerging research shows that responsible real estate development can produce competitive short‐term and superior long‐term financial returns. This introductory course will review sweeping changes occurring in real estate development.

RED 576 The Land Development Process (3 units): A case‐oriented approach to site selection, rezoning, financing, architectural design, economic feasibility, and other facets of the land development process. Graduate‐level requirements include the completion of a series of research projects.

RED 625 Market Analysis for Responsible Real Estate Development (3

units): This course serves as a primer for the analysis techniques

and data sources used to segment real estate markets, quantify

demand, and evaluate competing supply. This course considers

the balance of demand and supply as a key component to

responsible real estate development. Students will complete a

real estate market analysis, including the written study and

concept presentation, as part of this course. The course focuses

on real estate industry methods to evaluate development

opportunities and the skills needed to identify and quantify new

and emerging opportunities for more sustainable development

types.

c. Will students be allowed to substitute required and/or elective courses at the advisor’s discretion? (The standard substitution allowance is up to 25% of the total required units without Graduate College approval.)

No, given the scope and content requirements of the certificate no course substitutions will be allowed.

d. Indicate which courses will be offered on‐campus and those offered off‐campus, as well as the method of delivery.

These courses will be delivered in person and online. It is expected that the majority of students seeking the certificate will be online students.

e. If courses will be offered online, how will you protect academic integrity?

Courses will be designed in accordance with all academic integrity policies of the university and its online programs. Professors will be actively engaged in tracking student progress and learning outcomes, and establish opportunities for real‐time and peer interaction.

Note: Future changes to the curriculum originally approved for the certificate must be approved by the Graduate College and Curricular Affairs Office.

VI. Student Admittance/Advising/Completion – completion of a bachelor’s degree is required for admission to a graduate certificate. Completion of a Master’s degree or current enrollment in a graduate level program is required for admission to a Post‐Master’s certificate.

a. List any prerequisites or standardized tests required for admission.

A cumulative GPA of 3.0 on a 4.0 scale from an accredited undergraduate degree program. Students will be required to submit a portfolio including a writing sample, PowerPoint presentation, and a demonstration of proficiency in Microsoft Excel.

b. Indicate if concurrent enrollment in a degree program is allowed or required.

While the certificate is a stand‐alone product, it is designed to encourage students to enroll in the MRED degree.

c. Can students be enrolled full‐time (9 units) in the certificate in their first semester? What is the standard length of time to finish the certificate if students are enrolled full‐time the first semester?

Students enrolled in the Graduate Certificate in Real Estate Development Analysis will typically be enrolled in 9 units over two semesters. If students are in the MRED degree program (or are taking multiple certificates concurrently) they can be full‐time in their first semester.

d. Indicate the maximum number of transfer units (courses taken at institutions other than the UA) that may be applied to the certificate, keeping in mind that no more than 6 units of transfer credit may apply to a graduate certificate.

Transfer credits may not be applied to the certificate.

e. What provisions are included for student advising?

The MRED program currently employs a dedicated program coordinator for student advising. This position would be utilized to support the MRED degree program and the three integral certificates. Currently this is a half‐time position, but is expected to transition to full‐time based on projected student enrollment.

f. If there are affiliated graduate programs (refer to section III above), may the units earned for the certificate be applied to the degree program? If so, how many?

Yes, the Master of Real Estate Development degree has been designed as three stackable certificates that may be taken in any order. Following successful admission into the program by the graduate college, obtaining all three certificates, and completing RED 698 Professional Project for Real Estate Development (a 3 unit capstone project), students will receive the MRED degree.

g. May a student use any units taken in Graduate non‐degree status (GNDS)? If so, how many? (Per policy, 6 maximum may be used.)

Yes, a maximum of 6 GNDS units shall be permitted.

h. Will students utilize Outreach services? (If so, contact Mary Staugaard, [email protected] to make arrangements.)

No additional outreach services are required other than those provided by the Office of Academic Initiatives and Student Success (AISS).

VII. Certificate and Student Outcomes – provide a plan and frequency for assessing the intended certificate outcomes both for students and the certificate.

a. Student Learning Outcomes – describe what students should know, understand, and/or be able to do after completing the coursework for this certificate.

The Graduate Certificate in Real Estate Development Analysis covers real estate development principles in the United States and the Southwest with an emphasis on Responsible Property Development. The objective is to provide an understanding of land analysis processes and how these methods relate to the practice of real estate development. Faculty have established the following learning objectives and assessment tools: Learning Objectives:

Communication: Written, Oral, and Graphic: Students will prepare clear, accurate, and compelling communication in speaking, text, and media including graphics and maps for use in documents and presentations.

Process Comprehension: Students will collect and analyze complex data such as legal and market information in a logistically sound and accurate manner.

Foundations of Real Estate Development Analysis: Students will analyze how private developers conduct and finance their businesses; survey the historical development of real estate markets and the impact on future risk and valuation; perform feasibility analyses; and evaluate the role of private markets and the public sector in development processes.

Assessment Tools:

1) The assessment coordinator for the School of Landscape Architecture and Planning will indirectly measure student proficiency in these areas by administering a learning outcomes survey to students upon completion of the certificate. This will occur annually, at the end of each spring semester.

2) The program will directly measure learning outcomes for all students that complete the capstone class (RED 698 Professional Project for Real Estate Development) using a learning outcomes rubric completed by the instructor (note that not all certificate students will complete this class, only students who are pursuing the Master of Real Estate Development degree).

b. Certificate Outcomes – identify factors that indicate that completion of the certificate leads to gainful employment and/or advancement opportunities.

The program will indirectly measure other indicators of student success through an alumni survey, administered online to students one and two years post‐certificate by the assessment coordinator. The survey will include questions about employment outcomes in the field of real estate development, how different aspects of the certificate program were beneficial (or not) in preparing graduates for their current employment, whether they received any professional advancement opportunities as a result of the certificate, if there are topics that

graduates wish had been covered in the certificate program, and whether they have taken and successfully passed the Certified Commercial Investment Member (CCIM) exam.

The results from the learning outcomes survey, the capstone rubric, and the alumni survey will be compiled by the assessment coordinator and presented to faculty for their discussion and program evaluation toward goals for program improvement.

VIII. Student Demand – is there sufficient student demand for the certificate?

a. What is the anticipated student enrollment for this certificate by the third year the certificate is offered? Anecdotal indicators of students’ interest in the certificate are not sufficient. Provide market analysis or other tangible evidence to support projected enrollment numbers.

A nationwide market survey and competitive analysis was conducted of existing real estate development certificate and degree programs. There are only a few institutions which offer fully online programs, with no online degree available in the Southwest. With respect to market demand, research indicates the certificate can expect approximately 10 students per 1 million of the targeted population through online education. This is consistent with existing enrollment numbers in the MRED program (main campus). The online program significantly improves market exposure and capture rates. A more detailed market assessment has been attached.

b. Will the certificate serve a community need, preparation for professional certification exams, degree program recruitment, employability enhancement, or other?

Yes, this certificate will provide an opportunity for real estate and land development professionals to specialize their knowledge base and increase their employability through exposure to current real estate development practices and market trends. In addition, the three certificates in total are designed to prepare students for the Certified Commercial Investment Member (CCIM) exam and designation.

c. Will there be any collaboration with other departments or universities to maximize resources?

The interdisciplinary nature of real estate development enables significant collaboration across departments within the College of Architecture, Planning, and Landscape Architecture. Specifically, the MRED program has been working with the Master of Science in Planning program and the Master of Landscape Architecture program through a variety of co‐convened courses, and has

initiated discussions with the James E. Rogers College of Law and, the Eller College of Management. The proposed certificate courses would further this collaboration creating additional value for other departments. In addition, such offering will increase undergraduate exposure and interest in current and future Accelerated Master’s Program (AMP) programs.

IX. Expected Faculty and Resource Requirements

a. List the name, rank, highest degree, department and estimated level of involvement of all current faculty members who will participate in the program.

Arthur C. Nelson, Ph.D. ‐ Professor Drew Sanderford, Ph.D. ‐ Assistant Professor Gary Pivo, Ph.D. ‐ Professor Bo Yang, Ph.D. ‐ Associate Professor Kristi Currans, Ph.D. ‐ Assistant Professor L. Kafka, J.D. ‐ Adjunct Lecturer Brian Bidolli, MBA, MPA, MCP ‐ Adjunct Lecturer

b. Describe additional faculty needed for the first three years of the certificate.

As the certificate relies on existing courses that are currently being taught, no new faculty will be required initially as result of the certificate program. The funds generated from the online MRED program will be used to hire new adjunct faculty (2.4 FTE by year 2019‐2020) to accommodate enrollment increases.

c. Give the present numbers of FTE students (graduate and undergraduate) and FTE faculty in the department or unit in which the certificate is offered.

There are currently 10 FTE graduate students in the Masters of Real Estate Development program and 4.2 FTE faculty.

d. Give the proposed numbers of FTE students (graduate and undergraduate) and FTE faculty for the next three years in the department or unit in which the certificate is offered.

Table: MRED Degree Program

FTE 2018‐2019 2019‐2020 2020‐2021

Students 10 24 34

Faculty 4.2 6.6 6.6

* Faculty assumption based on 0.2 FTE per 3 credit hours

e. Provide a copy of the current departmental budget and budget projections for the first three years the certificate is offered.

A copy of the business plan and budget projections for the online MRED degree are attached. Please note there are no new costs associated in delivery of this certificate. The certificate is comprised of existing courses currently delivered within the Master of Real Estate Development (MRED) curriculum. The funds generated from the online MRED program will be used to hire new adjunct faculty (2.4 FTE by year 2019‐2020) to accommodate enrollment increases.

X. Contacts and Administration

a. List the name and contact information for the primary point of contact for the certificate.

Brian Bidolli, MRED Program Coordinator [email protected] Tel: (520) 626‐1151 Fax: (520) 621‐8700

b. List the name and contact information for the person or persons who will serve in the role of Director of Graduate Studies (DGS) for the certificate. (This is not always the same as the DGS for affiliated programs or head of the managing academic unit.)

Lauri Macmillan Johnson Professor and Director School of Landscape Architecture and Planning College of Architecture, Planning, and Landscape Architecture [email protected] Office: (520) 621‐8790




Graduate Certificate in Real Estate Development Finance


CIP CODE 04.10






This certificate is one of three certificates that culminate in the completion of the MRED degree. These include: The Certificate in Real Estate Development Analysis, the Certificate in Real Estate Development Finance, and the Certificate in Real Estate Development Practice. To receive the MRED degree a student must successfully complete all three certificates (in any order) + RED 698 Professional Project for Real Estate Development (a 3‐unit capstone project). The Office of Academic Initiatives and Student Success (AISS) will offer assistance in on‐line course development and marketing of the MRED degree and the three “stackable” certificates outlined in this proposal.

Specifically, the Certificate in Real Estate Development Finance focuses on the financial fundamentals of real estate development. Students will examine the capital markets and factors that shape the flow of funds into real estate investments.



Graduate Certificate in Real Estate Development Finance (12 units)


There are no new courses proposed as part of this certificate. Courses in the Graduate Certificate in Real Estate Development Finance will be offered as follows:

RED 610 Survey of Responsible Real Estate Development (3 units): There

is an interest in assuring that real estate development of the

future is more socially, environmentally, and economically

responsible than in the past. Emerging research shows that

responsible real estate development can produce competitive

short‐term and superior long‐term financial returns. This

introductory course will review sweeping changes occurring in

real estate development.

RED 501 Intro to Real Estate Finance (3 units): The focus of this course is

the analysis of capital formation in commercial real estate and

examination of the tools real estate investors use to make

investment decisions. The course includes sections on capital

sources, investor concerns and hurdles, data sources, investment

fundamentals and tools, discounted cash flow modeling, and pre‐

tax equity distributions for a range of partnerships. It is assumed

that students have a general familiarity with the property

development process, urban policy issues, and the basics of both

finance and MS Excel. Commercial real estate investment is

heavily rooted in analytical techniques for problem analysis,

projection, and evaluation, and communication of this

information in public discourse. This course will ask students to

analyze decisions made by real estate developers and investors

and to communicate clearly about risk and return.

RED 605 Advanced Real Estate Finance: Software & Technology (3 units):

This course is designed to advance students' knowledge of the

industry leading data and software required to succeed in real

estate development and finance. Drawing on tools from CoStar,

Real Capital Analytics, ARGUS, and Site To Do Business, the class

illustrates use of the programs in the context of solving real estate

development and finance problems.

RED 585 Foundations of Economics for Planning and Real Estate

Development (3 units): This is a core course that focuses on a

suite of economic approaches that broaden planners' and

developers' ability to make informed economic decisions from the

perspective of the public sector.








VI. Student Admittance/Advising/Completion – completion of a bachelor’s degree is required for admission to a graduate certificate. Completion of a Master’s degree or current enrollment in a graduate level program is required for admission to a Post‐Master’s certificate.






Students enrolled in the Graduate Certificate in Real Estate Development Finance will typically be enrolled in 12 units over two semesters. If students are in the MRED degree program (or are taking multiple certificates concurrently) they can be full‐time in their first semester.




The MRED program currently employs a dedicated program coordinator for student advising. This position would be utilized to support the MRED degree program and the three integral certificates. Currently this is a half‐time position, but is expected to transition to full‐time based on projected student enrollment.


Yes, the Master of Real Estate Development degree has been designed as three stackable certificates that may be taken in any order. Following successful admission into the program by the graduate college, obtaining all three certificates, and completing RED 698 Professional Project for Real Estate Development (a 3‐unit capstone project), students will receive the MRED degree.







The Graduate Certificate in Real Estate Development Finance is focused on study

of the financial fundamentals of real estate development. Students will examine

the capital markets and factors that shape the flow of funds into real estate

development investments. Faculty have established the following learning

objectives and assessment tools:

Learning Objectives:

Communication: Written, Oral, and Graphic. Students will prepare clear, accurate, and compelling communication in speaking, text, and media including graphics and maps for use in documents and presentations.

Data Analysis. Students will demonstrate familiarity with standard real estate related datasets, including how to acquire appropriate data, categorize and prioritize data and datasets, and utilize appropriate financial modeling techniques to inform real estate development investment decisions.

Foundations of Real Estate Development Finance. Students will have the ability to assemble and assess financial data into real world investment models. Students will demonstrate the ability to make a clear, quantitative case for the cost and benefit of real estate development investment decisions.

Assessment Tools:

1) The assessment coordinator for the School of Landscape Architecture and Planning will indirectly measure student proficiency in these areas by administering a learning outcomes survey to students upon completion of the certificate. This will occur annually, at the end of each spring semester.

2) The program will directly measure learning outcomes for all students that complete the capstone class (RED 698 Professional Project for Real Estate Development) using a learning outcomes rubric completed by the instructor

(note that not all certificate students will complete this class, only students who are pursuing the Master of Real Estate Development degree).


The program will indirectly measure other indicators of student success through an alumni survey, administered online to students one and two years post‐certificate by the assessment coordinator. The survey will include questions about employment outcomes in the field of real estate development, how different aspects of the certificate program were beneficial (or not) in preparing graduates for their current employment, whether they received any professional advancement opportunities as a result of the certificate, if there are topics that graduates wish had been covered in the certificate program, and whether they have taken and successfully passed the Certified Commercial Investment Member (CCIM) exam. The results from the learning outcomes survey, the capstone rubric, and the alumni survey will be compiled by the assessment coordinator and presented to faculty for their discussion and program evaluation toward goals for program improvement.



A nationwide market survey and competitive analysis was conducted of existing real estate development certificate and degree programs. There are only a few institutions which offer fully online programs, with no online degree available in the Southwest. With respect to market demand, research indicates the certificate can expect approximately 10 students per 1 million of the targeted population through online education. This is consistent with existing enrollment numbers in the MRED program (main campus). The online program significantly improves market exposure and capture rates. A more detailed market assessment has been attached.


Yes, this certificate will provide an opportunity for real estate and land development professionals to specialize their knowledge base and increase their

employability through exposure to current real estate development practices and market trends. In addition, the three certificates in total are designed to prepare students for the Certified Commercial Investment Member (CCIM) exam and designation.


The interdisciplinary nature of real estate development enables significant collaboration across departments within the College of Architecture, Planning, and Landscape Architecture. Specifically, the MRED program has been working with the Master of Science in Planning program and the Master of Landscape Architecture program through a variety of co‐convened courses, and has initiated discussions with the James E. Rogers College of Law and, the Eller College of Management. The proposed certificate courses would further this collaboration creating additional value for other departments. In addition, such offering will increase undergraduate exposure and interest in current and future Accelerated Master’s Program (AMP) programs.





As the certificate relies on existing courses that are currently being taught, no new faculty will be required initially. The funds generated from the online MRED program will be used to hire new adjunct faculty (2.4 FTE by year 2019‐2020) to accommodate enrollment increases.


There are currently 10 FTE graduate students in the Masters of Real Estate Development program and 4.2 FTE faculty.



FTE 2018‐2019 2019‐2020 2020‐2021

Students 10 24 34

Faculty 4.2 6.6 6.6



A copy of the business plan and budget projections for the online MRED degree are attached. Please note there are no new costs associated in delivery of this certificate. The certificate is comprised of existing courses currently delivered within the Master of Real Estate Development (MRED) curriculum. The funds generated from the online MRED program will be used to hire new adjunct faculty (2.4 FTE by year 2019‐2020) to accommodate enrollment increases.



Brian Bidolli, MRED Program Coordinator Tel: (520) 626‐1151 Fax: (520) 621‐8700 [email protected]

b. List the name and contact information for the person or persons who will serve in the role of Director of Graduate Studies (DGS) for the certificate. (This is not always the same as the DGS for affiliated programs or head of the managing academic unit.)





Graduate Certificate in Real Estate Development Practice


CIP CODE 04.10






This certificate is one of three certificates that culminate in the completion of the MRED degree. These include: The Certificate in Real Estate Development Analysis, the Certificate in Real Estate Development Finance, and the Certificate in Real Estate Development Practice. To receive the MRED degree a student must successfully complete all three certificates (in any order) + RED 698 Professional Project for Real Estate Development (a 3‐unit capstone project). The Office of Academic Initiatives and Student Success (AISS) will offer assistance in on‐line course development and marketing of the MRED degree and the three “stackable” certificates outlined in this proposal.

Specifically, the Certificate in Real Estate Development Practice focuses on the fundamentals of real estate development implementation through an in‐depth analysis of development projects from project conception to final proposals. Students will be

exposed to construction methods and project management within the development process, and the tools and methods utilized in the public and private sectors.



Graduate Certificate in Real Estate Development Practice (12 units)


Courses within the Graduate Certificate in Real Estate Development Practice currently exist. RED 522 Landscape Analysis (3 units) will be replaced by new course RED XXX Urban Form & Placemaking (3 units).

RED 610 Survey of Responsible Real Estate Development (3 units): There is an interest in assuring that real estate development of the future is more socially, environmentally, and economically responsible than in the past. Emerging research shows that responsible real estate development can produce competitive short‐term and superior long‐term financial returns. This introductory course will review sweeping changes occurring in real estate development.

RED 509 Due Diligence & Entitlements (3 units): This course provides students a review of the legal principles that inform and regulate the due diligence and entitlement process that is the basis of every successful real estate transaction.

RED 522 Landscape Analysis (3 units): Integrated field and classroom instruction introduces the student to inventory and analysis of biological, physical, social/behavioral, and cultural elements of the landscape. Projects will incorporate principles of landscape ecology and regional landscape planning. Output of the course will deal with implications of the above‐named elements on design. In addition, design programming and data manipulation will be introduced and a conceptual design for a given site will be developed.

RED 515 Construction & Project Management (3 units): The objective of the course is to introduce real estate development students, and those from other majors and programs, to construction management as a component of the real estate development process. The course will introduce students to the fundamentals of building construction, project budget estimation, project management, scheduling, and project leadership. The course will focus both case analyses and discussions of best practices. Industry experts will provide insight and help guide the course substantively. The course will ask students to analyze decisions made by real estate developers about construction management and communicate clearly about construction management and its role in mitigating risk and enhancing project returns.

RED XXX Urban Form & Placemaking (3 units): This course examines the development of concepts of place and practices of urban form and “placemaking.” The course takes an interdisciplinary approach, drawing from readings primarily in the history and theory of urban planning and landscape architecture. Students will explore the connection between private real estate development and its influence on the public realm.








VI. Student Admittance/Advising/Completion – Completion of a bachelor’s degree is required for admission to a graduate certificate. Completion of a Master’s degree or current enrollment in a graduate level program is required for admission to a Post‐Master’s certificate.






Students enrolled in the Graduate certificate in Real Estate Development Practice will typically be enrolled in 12 units over two semesters. If students are in the MRED degree program (or are taking multiple certificates concurrently) they can be full‐time in their first semester.




The MRED program currently employs a dedicated program coordinator for student advising. This position would be utilized to support the MRED degree program and the three integral certificates. Currently, this is a half‐time position, but is expected to transition to full‐time based on projected student enrollment.


Yes, the Master of Real Estate Development degree has been designed as three stackable certificates that may be taken in any order. Following successful admission into the program by the graduate college, obtaining all three

certificates, and completing RED 698 Professional Project for Real Estate Development (a 3‐unit capstone project), students will receive the MRED degree.







The Graduate Certificate in Real Estate Development Practice focuses on the fundamentals of real estate development implementation through an in‐depth analysis of development projects from project conception to final proposals. Students will be exposed to construction methods and project management within the development process, and the tools and methods utilized in the public and private sectors. Faculty have established the following learning objectives and assessment tools:

Learning Objectives:

Communication: Written, Oral, and Graphic: Students will prepare clear, accurate, and compelling communication in speaking, text, and media including graphics and maps for use in documents and presentations.

Project Management: Students will demonstrate understanding of real estate development entitlements and project management techniques.

Foundations of Real Estate Development Practice: Students will demonstrate the ability to determine, describe, and implement the steps required to develop a property from property acquisition to design and construction.

Principles of Financing: Students will understand the role that public‐private partnerships have in financing real estate development projects. Students will learn basic tax principals and what effect they have on development.

Assessment Tools:

1) The assessment coordinator for the School of Landscape Architecture and

Planning will indirectly measure student proficiency in these areas by

administering a learning outcomes survey to students upon completion of the

certificate. This will occur annually, at the end of each spring semester.

2) The program will directly measure learning outcomes for all students that

complete the capstone class (RED 698 Professional Project for Real Estate

Development) using a learning outcomes rubric completed by the instructor

(note that not all certificate students will complete this class, only students who

are pursuing the Master of Real Estate Development degree).


The program will indirectly measure other indicators of student success through an alumni survey, administered online to students one and two years post‐certificate by the assessment coordinator. The survey will include questions about employment outcomes in the field of real estate development, how different aspects of the certificate program were beneficial (or not) in preparing graduates for their current employment, whether they received any professional advancement opportunities as a result of the certificate, if there are topics that graduates wish had been covered in the certificate program, and whether they have taken and successfully passed the Certified Commercial Investment Member (CCIM) exam. The results from the learning outcomes survey, the capstone rubric, and the alumni survey will be compiled by the assessment coordinator and presented to faculty for their discussion and program evaluation toward goals for program improvement.



A nationwide market survey and competitive analysis was conducted of existing real estate development certificate and degree programs. There are only a few institutions which offer fully online programs, with no online degree available in the Southwest. With respect to market demand, research indicates the certificate can expect approximately 10 students per 1 million of targeted population through online education. This is consistent with existing enrollment numbers in the MRED program (main campus). The online program significantly

improves market exposure and capture rates. A more detailed market assessment has been attached.


Yes, this certificate will provide an opportunity for real estate and land development professionals to specialize their knowledge base and increase their employability through exposure to current real estate development practices and market trends. In addition, the three certificates in total are designed to prepare students for the Certified Commercial Investment Member (CCIM) exam and designation.


The interdisciplinary nature of real estate development enables significant collaboration across departments within the College of Architecture, Planning, and Landscape Architecture. Specifically, the MRED program has been working with the Master of Science in Planning program and the Master of Landscape Architecture program through a variety of co‐convened courses, and has initiated discussions with the James E. Rogers College of Law and, the Eller College of Management. The proposed certificate courses would further this collaboration creating additional value for other departments. In addition, such offering will increase undergraduate exposure and interest in current and future Accelerated Master’s Program (AMP) programs.





As the certificate relies on existing courses that are currently being taught, no new faculty will be required initially as result of the certificate program. The only

new course being proposed in this certificate will be taught (2019) by a tenure‐line faculty in the school. The funds generated from the online MRED program will be used to hire new adjunct faculty (2.4 FTE by year 2019‐2020) to accommodate enrollment increases.


There are currently 10 FTE graduate students in the Master of Real Estate Development program and 4.2 FTE faculty.



FTE 2018‐2019 2019‐2020 2020‐2021

Students 10 24 34

Faculty 4.2 6.6 6.6



A copy of the business plan and budget projections for the online MRED degree are attached. The certificate is comprised of existing courses currently delivered within the Master of Real Estate Development (MRED) curriculum and one new course taught by a tenure line faculty member in the school. The funds generated from the online MRED program will be used to hire new adjunct faculty (2.4 FTE by year 2019‐2020) to accommodate enrollment increases.



Brian Bidolli, MRED Program Coordinator Tel: (520) 626‐1151 Fax: (520) 621‐8700 [email protected]

b. List the name and contact information for the person or persons who will serve in the role of Director of Graduate Studies (DGS) for the certificate. (This is not

always the same as the DGS for affiliated programs or head of the managing academic unit.)


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