Comprehensive Real Estate Development Tour (Jersey City)
Tuesday, October 20, 2015, 9:30 a.m.
Wednesday, October 21, 2015, 4:30 p.m. EDT
Jersey City, NJ,
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Using a case study approach, participants will learn the fundamentals of real estate development using actual development projects as a “backdrop” to the concepts, applications and discussion about redevelopment. Leading community-based real estate developers will present case studies on some of their latest “crown jewels,” highlighting their actual problems, challenges and opportunities encountered with their development projects. Participants will have the opportunity to tour the development site and examine the overall structure of the development project, focusing on the analyses behind the development and investment strategy employed. The two-day course will provide participants with an insider’s look on how the project was conceptualized and developed. For each location, consideration will be given to property and site analysis, market conditions, municipal approvals, acquisition strategy, 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. Participants can expect to learn new concepts, funding programs, development and leasing strategies, contract negotiations and other aspects of 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 course will be facilitated and taught by experienced real estate developers, while the NJRA Redevelopment Training Institute Real Estate Development textbook will serve as a tool to supplement the lectures and discussions. By examining actual development projects, participants can expect to gain a thorough understanding of the strategies and the details of a development project from beginning to end. Four classes been planned using different types of real estate development projects. --Hospital Repurposed Redevelopment Project --New Construction Brownfield Redevelopment Project --Adaptive Reuse Project --New Construction Community Development Project The key learning objectives are: • The determination and assessment of the primary factors affecting the feasibility and viability of a real estate development projects and how to minimize risks • Understanding of basic finance and real estate concepts and terminology • The resources and tools used to engage in the real estate development process