Comprehensive Real Estate Development Class and Tour
Thursday, October 2, 2014, 9:30 a.m.
Friday, October 3, 2014, 4:30 p.m. EDT
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Using a class room case study and tour approach, participants will learn the fundamentals of comprehensive real estate development using actual development projects as “backdrops” to the concepts, applications and discussions about redevelopment. Leading community-based real estate developers will present case studies using some of their latest “crown jewels,” highlighting actual problems, challenges and opportunities encountered with their development projects. Participants will have the opportunity to tour the development sites and examine the overall structure of the development project, focusing on the analyses behind the development and investment strategies employed. The course will provide participants with an insider’s look on how the project was conceptualized and developed. For each tour location, consideration will be given to property and site analysis, market conditions, municipal approvals, acquisition, construction or renovation costs, economic viability, and community and governmental relations. Participants will be responsible for analyzing the project based on facts and opinions presented by the developer, as well as evaluating the merits of a set of different alternatives. Attendees can expect to learn new concepts, funding programs, development strategies and general approaches to redevelopment. Practical contemporary discussions on neighborhood characteristics, demographics, property acquisition, municipal and redevelopment law, community relationships, politics and more will be discussed. Participants will also learn basic finance concepts and terminology such as net operating income (NOI), debt coverage ratio (DCR), and return on investment (ROI), and construct basic development budgets and operating pro formas to assess the economic viability of the projects. This interdisciplinary, case study approach will place each participant in an actual business environment, by examining real situations and development projects. The workshop will be facilitated and taught by experienced real estate developers, and the NJRA Real Estate Development textbook will serve as a tool to supplement the lectures and discussions. By visiting and examining real development projects, the workshops will offer the participants a more efficient method for learning and developing the skill sets needed for redevelopment. Participants can expect to gain a thorough understanding of the strategies and the details of a development project from beginning to end.