Real Estate Development
Examine the interdisciplinary, high-stakes nature of real estate development and the mix of specialized analytical, financial, and organizational skills needed for successful project completion. This includes site selection, land use, entitlements, market and feasibility analysis, budgets, construction loan finance, construction, and income-producing property types (office, multifamily, and mixed-use).
The Professional Certificate in Real Estate Development credential is issued to students who successfully complete four 6-week courses.
Real Estate Development Principles and Process REDV-0020
Sec. 1: Online (self-paced). Sep. 19-Oct. 24 (6 sessions). Hamill
Sec. 2: Online (self-paced). Nov. 7-Dec. 12 (6 sessions). Hamill
Through a step-by-step examination of the project life cycle, gain a comprehensive understanding of the phases, procedures, and complexities of developing and redeveloping various property types including multifamily, office and mixed-use real estate. Topics covered include an overview of the real estate development process; assembling the team; project stakeholders; market analysis and site selection; land use; regulatory environment; entitlements; public private partnerships; environmental review; marketability and design considerations; hard- and soft-cost budgets; project pro forma; feasibility study; the raising of equity; interim and permanent financing; construction considerations for the owner; marketing; leasing; property stabilization and management.
Real Estate Development Pro Forma Analysis REDV-0030
Sec. 1: Online (self-paced). Nov. 7-Dec. 12 (6 sessions). Angley
Learn how to analyze a market for a proposed real estate development project, strategically integrate those market analysis findings into a feasibility study and pro forma, and determine through a variety of methods whether the proposed project will achieve stated goals. Topics include market and competitive analysis; property location analysis; economic base analysis; supply and demand analysis; absorption rates; marketability; highest and best use; determining a use for a known site; finding the best site for a desired use; finding the best investment opportunity for a willing investor; feasibility analysis; and risk assessment and management. It is expected that students have completed Real Estate Development Principles and Process, or have equivalent experience.
Real Estate Development Construction Loan Finance REDV-0040
Sec. 1: Online (self-paced). Sep. 19-Oct. 24 (6 sessions). Stern
Learn best practices for submitting a loan request to a lender for interim construction loan project financing, long-term permanent "take out" financing and mini-perm financing. Topics include presenting the development team; project assumptions and feasibility analysis; hard and soft cost budgets; construction contracts; loan types; lender’s term sheet; loan underwriting and decision criteria; the appraisal report; due diligence; environmental reports; insurance and bonding; title insurance; liens; draw requests; the lender’s engineer and work in place; the funding process; loan administration; retainage; stages of project completion; and the take out loan.
Real Estate Development Construction Essentials REDV-0050
Sec. 1: Online (self-paced). Nov. 7-Dec. 12 (6 sessions). Bialkowski
Learn how owners and developers equipped with a sound understanding of the phases, requirements and risks of the construction process can have a major impact on the success of the building project. Learn key components of the construction phase of a development project to effectively control the design and construction process, ensuring that every decision is made in the owner’s best interest. Topics include the project team and its roles and responsibilities, project delivery methods, hard and soft development costs, construction insurance and contracts including general conditions. Discuss budgeting and cost management, types of estimates, schedules, change orders, claims management, surety bonds, and mechanics’ lien.
Elective Course (Not required)
Real Estate Principles REDV-0010
Sec. 1: Online (self-paced). Sep. 19-Oct. 24 (6 sessions). Trotta
This course presents the principles and business fundamentals of real estate investment
through the examination and context of a real estate transaction. Topics include the nature of real estate; real property bundle of rights; ownership estates and interests; forms of ownership; real estate instruments including deeds, leases and contracts; liens; title; property types; mortgage and note; lending practices; sources of financing; loan instruments; leases; appraisal; property types; land use; and an introduction to real estate finance.
Transfer Credit Policy
Students who have recently completed comparable non-degree courses at an accredited two- or four-year college or university with a grade of B or higher may request approval to apply those courses toward the completion of a professional certificate at the Fordham Real Estate Institute. Students are encouraged to seek approval from the program director prior to the start of their first course at Fordham. With prior approval, students may transfer up to one course toward a four-course professional certificate at Fordham Real Estate Institute.
Students may enroll in individual courses at the Fordham Real Estate Institute without pursuing a certificate.