Other Real Estate Courses
Fall 2009
PHYSICAL DESIGN & CONSTRUCTION
(includes site planning, design typologies/standards, construction management, design lab)
- GSD 3329. Methods of Urban Planning.
Judith Grant Long- GSD 6120M1. Techniques of Physical Planning I.
(Fall – first half of the term)- GSD 6323. Brownfields Practicum: Regeneration and Reuse of Brownfield Lands .
(Fall)- MIT 11.349 RED I. The Development Process
Tony Ciochetti (Fall)- MIT 11.350 RED II. Products and Systems
Yanni Tsipis(Fall)- MIT 11.950. Real Estate Development I: The Development Process.
Fisher/Ciochetti (Fall)- MIT 11.954. Real Estate Development II: Products & Systems.
Tsipis (Fall)
URBAN ANALYSIS
(includes land use/planning, housing, law, transactions, approvals, and negotiation)
- GSD 4353. Imagining the City: Literature, Film, and the Arts.
Giuliana Bruno (Fall)- GSD 5206. Planning and Environmental Law.
Brian Blaesser (Fall)- GSD 5476. Housing Delivery Systems in the United States.
James Stockard (Fall)- GSD 5476M2. The Housing Delivery System in the United States.
Stockard (Fall – second half of the term)- KSG HUT-263 or GSD 5206. Planning and Environmental Law.
Blaesser (Fall)
FINANCE & DEAL STRUCTURING
(includes real estate finance, capital markets, and deal-structuring)
- HBS 1428. Venture Capital and Private Equity.
Gaompers/Lerner/Kropf (Fall)- HBS 1440. Private Equity Finance.
David S. Scharfstein- KSG API-141. Finance. Deep (Fall)
- FAS ECON 1745. Corporate Finance.
De Borja Larrain (Fall)- MIT 11.345J. Entrepreneurship in Construction and Real Estate Development.
John Kennedy- MIT 11.431J. Real Estate Finance and Investment.
McGrath (Fall)
COURSE DESCRIPTIONS
GSD 4353. Imagining the City: Literature, Film, and the Arts
Giuliana Bruno
Fall. W 7:00 - 9:00 (Carpenter Center Lecture Hall CCVA), Th 11:30 - 1:00 (Room B-04 CCVA)
How do visual representation and narrative figuration contribute to construct urban identity? Explores the urban imagination in different artforms: architecture, cinema, literature, photography, and painting. Topics to be mapped out include: cities and modernity, metrophilia and metrophobia, the museum and cultural archaeology, the ruin and the construction site, interior space and public sphere, technology and virtual cities. The montage of imaginary cities traverses aspects of different urban environments. This year, we focus on the European city, as we travel through Paris, Berlin, St. Petersburg, Moscow, Naples, and Rome.
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GSD 5206. Planning and Environmental Law
Brian Blaesser
Fall. MW 8:30 - 10:00 AM (Gund Hall 109)
This course examines the key substantive legal issues that affect the use, preservation, and development of land in the United States, and the principles and thinking process by which the legal system reaches decisions intended to resolve these issues. The course will explore how land use and environmental laws reflect the fundamental tension in our society between government regulation and constitutionally protected rights of individuals, and discuss the role that planning can play in helping to define the balance between the means used to achieve public goals and the protection of private property rights. The course will also address certain federal laws that impact land use and local land use regulation. The course concludes by examining programs that seek to integrate land use and environmental concerns, notably, growth management or 'smart growth' / 'sustainable development' programs intended to influence the rate, amount, type, location and quality of development, and New Urbanist/form-based code initiatives which emphasize the importance of a physical design framework to achieving community, economic and environmental objectives. Course readings include court decisions, statutes, and ordinances, and secondary critical materials
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GSD 5476. Housing Delivery Systems in the United States
James Stockard
Fall. W 2:00 - 5:00 (Gund Hall 510)
This course will examine the process by which housing is produced in the United States. The course considers the primary actors in the delivery system, including consumers, developers, lenders, regulators, subsidy providers, and others. A substantial focus will be placed on the three types of developers, private for-profit companies, private non-profit organizations (including CDCs) and public agencies. The class will examine the history of each type of developer, the goals that motivate them, the parts of the housing market to which they respond, and the tools and techniques they use in their work. Attention will be given to the interaction among the various actors and changes that might improve the system.
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GSD 3329. Methods of Urban Planning
Judith Grant Long
Fall. Tu 11:30 - 1:00 (Gund Hall 517)
This companion course to the first-term Core Urban Planning Studio introduces students to selected methods used by urban planners in understanding, analyzing, and influencing the built environment. Students learn about the following: spatial analysis through GIS; visual representation techniques; projections and forecasts in plan-making, including how demographic, economic, and market forecasts inform land use and infrastructure needs assessments; how alternative land use scenarios are constructed, including approaches to allocating land use, estimating carrying capacity, and build-out analyses; and evaluation of land use impacts through fiscal, economic, social, environmental, and transportation frameworks.
GSD 6323. Brownfields Practicum: Regeneration and Reuse of Brownfield Lands
Niall Kirkwood
Fall. Tu 8:30 - 11:30 (Gund Hall 318)
"A Brownfields Site is real property, the expansion, redevelopment, or reuse of which may be complicated by the presence, or potential presence of a hazardous substance, pollutant or contaminant"
This course concerns the reclamation of sites altered by prior industrial or commercial uses and in particular those that are derelict, environmentally hazardous and located within neighborhoods and/or close to residential communities. The subject matter addresses recent advances in the legal, regulatory, environmental, economic and community landscape as well as the remediation of despoiled land in a manner that reclaims and redevelops these sites for future sustainable uses. Of interest to the instructor is how these advances can inform more progressive and creative planning and design work, and conversely, to what extent sustainable planning and design work can direct the regeneration and reuse of these urban environments. Under consideration this semester is the class of sites commonly known as brownfields.
The redevelopment of Brownfields presents a unique opportunity to marry environmental, economic, public health and social goals within a single problem-solving strategy or set of strategies, and to join diverse constituencies such as the environmental lobby, private and public community developers in the process. This class introduces students to the foundations of brownfields redevelopment as well as the science and applied technology of waste site cleanup, and connects brownfields redevelopment to broader issues in environmental policy and planning such as environmental justice, public health and sustainable development. The class will review the current regulatory, economic, environmental, community, public health and development conditions of brownfields, through site visits, classroom presentations and discussions with relevant stakeholders from federal, state, city and community agencies, as well as other professionals from the legal, financial, and environmental engineering private sector. Through a practice component (the practicum) class members working in teams apply this general brownfields knowledge to particular challenges in the field on behalf of a city government in the local area and gain hands-on experience in applied environmental and economic development research and analysis, community brownfield practices, and sustainability planning.
MIT 11.349 RED I. The Development Process
Tony Ciochetti
Fall. MW 3:00-4:30, Rec M 4:30-6:30 (Building W31, Room 301)
Presents the information, skills and techniques necessary to create the physical products of real estate and manage the process of real estate development in each of the functional areas. Assesses the fundamental characteristics of the real estate industry, its products, contracts, regulatory and legal context and its markets. Students work in teams to create a development proposal. Restricted to MSRED students. Restricted to MSRED students.
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MIT 11.350 RED II. Products and Systems
Yanni Tsipis
Fall. W 4:30-6:30 (Building 31, Room 301)
Provides students with a concise overview of the range of real estate product types and building systems that are encountered in professional development practice. Focuses on the relationship between real estate product types, building systems, and the multitude of factors that the development professional must consider when evaluating these products and systems for a specific development project. The first course module explores the physical attributes and value drivers associated with residential, office, retail, and hotel product types. The second course module surveys commercial building systems from foundations to roofing and analyzes the factors that lead development professionals to select specific systems for specific product types. Enrollment limited.
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MIT 11.430J. Leadership in the Real Estate Industry
Gloria Schuck
Fall. W 9-12 (Building W31, Room 305)
Provides and uses theories, concepts and tools to craft, articulate and refine a leadership point of view. Through reflection, self-assessment, discussion and feedback, develops an understanding of the readiness to lead, leadership style, emotional intelligence, and presentation of self. Students converse with leaders in the real estate industry and gain knowledge from their stories and insights. The course aims to provide students with a deeper understanding of leadership; a better understanding of themselves and their authentic leadership style; and a plan for the ongoing development of their leadership capabilities.
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HBS 1428. Venture Capital and Private Equity
Paul Gompers, Associate Professor Matthew Rhodes-Kropf
Winter.
The growth of private equity internationally has been dramatic, to the point that the asset class has been both lauded as the savior and vilified as the cause of our current economic malaise. Over the past two decades, private equity- ranging from venture capital to buy- outs and even to certain activities by absolute return funds (hedge funds) -has come to play an increasingly important role in shaping our economy. Their promise of "above market" returns has attracted investments from pension funds upon which millions of our elders rely and universities which educate future contributors to society. Yet private equity organizations often operate in mysterious ways, with little public visibility. This course seeks to understand how these organizations work, why they take the forms that they do, and where crucial problems-and opportunities for innovation-exist. We examine the strategies and incentives of the various players and how they maneuver through the business cycle. Cases are recent and class speakers are common so the current private equity environment and the changing landscape are features of every class.
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HBS 1440. Private Equity Finance
David S. Scharfstein
Fall.
This course is intended for students interested in careers related to private equity. This includes those who want to work for private equity firms, invest in private equity firms as limited partners, or provide investment banking or consulting services to private equity firms. This course is also appropriate for students with more general interests in deal structuring, mergers and acquisitions, and business development.
The private equity industry is in flux. Deal volume has fallen dramatically as credit has tightened, and the types of deals that are now being done are very different from those that were done just two years ago. But, even in difficult times, there are opportunities, some outside the realm of traditional buyouts. This course is designed to help students develop the skills to exploit these opportunities.
There are two main goals of this course. First, and foremost, the goal is to develop a rigorous approach to analysis of deal opportunities from both financial and strategic perspectives. Deal sourcing, due diligence, financing, valuation, exit, and fund strategy will be studied. The second goal of the course is to provide students with a broader perspective on the private equity industry. What are the sources of value creation? What works and what does not work? What changes can we anticipate going forward.
These elements are studied in a variety of contexts including: buyouts of all sizes (with a focus on middle market); private equity funds of all sizes; distressed buyouts and restructuring of failed buyouts. We will also study the new sorts of investments that private equity firms are engaging in.
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KSG API-141. Finance
Akash Deep
Fall. MW 11:40-1:00 (L140), F 8:40-10:00 (L280)
This course provides a general survey of finance and investments. It emphasizes an intuitive, logically rigorous understanding of the theory and practice of financial markets, illustrating the concepts through examples and cases drawn from the public, private, and nonprofit sectors. Topics covered include: present value analysis and discounting; diversification; the trade-off between risk and return; market efficiency; pricing of stocks and bonds; the capital asset pricing model; the arbitrage pricing theory; term structure of interest rates; the principle of arbitrage; derivative securities such as forwards, futures, and options; use of derivatives for hedging; and risk management. Prerequisites: Assumes a knowledge of basic high school mathematics, familiarity with spreadsheets, and a course in microeconomics (such as API-101).
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FAS ECON 1745. Corporate Finance
Francisco De Borja Larrain
Fall. MW 1:00 – 2:30 (Harvard Hall 201) and a weekly section to be arranged
Introduction to corporate finance, including capital budgeting, capital structure of firms, dividend policy, corporate governance, and takeovers.
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MIT 11.345J. Entrepreneurship in Construction and Real Estate Development
John Kennedy
Fall. W 12:30-2:00 (Building W31, Room 301)
The purpose of this subject is to explain the role of, and the opportunities for the entrepreneur in the built environment. The built environment is defined as all the components and services that go into the structures and infrastructure in which we live. Topics include: Entrepreneurship in New and Existing Firms, Analytical Framework of Entrepreneurship, Requirements for Success, Creative Visualization, Recognizing Opportunities in our Business, Strategic Positioning of Entrepreneurial Opportunities.
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MIT 11.431J. Real Estate Finance and Investment
Todd McGrath
Fall. TuTh 4:00-5.30, Rec Th 5.30-7:00 (Building W31, Room 301)
Concepts and techniques for analyzing financial decisions in property development and investment. Topics include leasing and property income streams, pro forma analysis, equity valuation, tax analysis, options, risk, and the financial structuring of real property ownership.
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