See our PDF flyer describing the MRED Program at the University of Maryland.
A comprehensive, collaborative approach to real estate development education focused on building sustainable communities for the future is at the heart of the new Master's in Real Estate Development Program (MRED). While there are many good real estate finance programs available to students around the country, there are only a handful of real estate development graduate programs that tackle the broader educational task of engaging the full range of real estate development--from property acquisition to planning and permitting, law and finance, design and construction, and culminating in marketing, commercial leasing, property, portfolio and asset management.
The program addresses all aspects of real estate and takes full advantage of the School's programs in Architecture, Historic Preservation and Urban Planning. It is multidisciplinary and focuses on developments that will deliver for a Quadruple Bottom Line: Financially Viable, Environmentally Respectful, Socially Responsible, and Beautifully Designed. Finance, the original bottom line, will not be left out, but taught as part of the whole, with advanced courses for those who wish to emphasize that aspect of development. A degree in real estate development should prepare each student to be the orchestra leader. He or she should know not only how to find the development opportunities, but effectively engage bankers, investors, architects, contractors, lawyers and accountants, as well as how to bring the project in on time and assure dynamic marketing and effective property management. An MRED degree from the University of Maryland will address every aspect of development.
Maryland's comprehensive and collaborative approach uses not only the traditional reading and research mode of learning, but also the popular case study review and discussion method, as well as embracing the studio, or practice method, engaging the development community as partners in class and in the field to enliven the concepts of the classroom lecture and discussion. Assignments and exams are about using knowledge and tools presented in the classroom or the field. The classes are enlivened by a rich mixture of students, some already working in some part of the real estate industry, others changing careers mid-stream, some building on their undergraduate degrees in architecture, engineering, finance, criminal justice, health or history to name a few, while others will be adding to their depth of specialty education following other graduate work in law, finance or architecture. Although the program is intense, it is relatively short, allowing for the program to be undertaken in conjunction with other graduate programs in planning, preservation, architecture, finance, landscape architecture and public policy.
The program emphasizes some key strategic areas in energy-efficient design and adaptive reuse of existing structures, public/private joint ventures, public school design integrated into effective community development, accessible housing for senior and disabled housing. These, joined with the concept of "Smart Growth" are the signatures of the program. In sum, the program is designed to educate its students in an academic and systematic way of thinking as well as the practicalities of developing livable and sustainable neighborhoods, communities and cities.