The Master of Science in Real Estate Development is designed to provide real estate professionals with the knowledge essential to assume increasingly responsible leadership roles within the development industry. Areas of emphasis include real estate finance, investment analysis, project management, sustainability and economic development. The distinctiveness of this degree program lies in its multi-disciplinary curriculum, which incorporates coursework from the domains of business, engineering and public policy. Created in consultation with leading real estate development companies, the curriculum has been designed to strengthen the employment potential and upward mobility of industry professionals working in the areas of development, architecture, engineering, public planning, construction management, real estate finance, mortgage lending, property management, real estate law and related fields.



All students registering for School of Business graduate courses must have graduate standing.  Non-degree student status is not available. 

Full eligibility and admission requirements can be viewed at the School of Business website.


The 36-hour curriculum includes 21 hours of required courses and 15 hours of electives. Students are responsible for familiarization and compliance with AP.6 Graduate Policies.

Graduate level courses offered by the School of Business cannot be audited.

Banner Code: BU-MS-REAL

Degree Requirements

Total credits: 36

Required Courses

REAL 605Policy and Planning of the Built Environment3
REAL 615Brokerage and Market Analysis3
REAL 625Financial Analysis and Valuation3
REAL 635The Development Process3
REAL 645Law and Entitlements3
REAL 655Design and Construction3
REAL 750MSRED Capstone3
Total Credits21


Select 15 credits of electives 115
Total Credits15

Electives may be selected from other REAL courses (see below) and available offerings in appropriate areas including the Schar School of Policy and Government; the School of Business; the Volgenau School of Engineering; the College of Humanities and Social Sciences; the College of Science; and the Carter School for Peace and Conflict Resolution. 

Students wishing to choose a field for emphasis may select, with the approval of a faculty advisor, 3 elective courses within the field that together constitute an emphasis area. They must also then take 3 courses outside the selected emphasis to reach the required elective total of 15. With prior approval of an advisor, students may design their own emphasis. The following are examples of fields for emphasis and courses within each field which may be selected.

Organizational Issues Emphasis

Select 3 courses from the following:9
Entrepreneurship and Economic Development
Corporate Environmental Management and Policy
Persuasion Theory
Organizational Communication
Theories of Interpersonal Communication
Strategic Communication
Introduction to Conflict Analysis and Resolution
Business and Organizational Ethics
Real Estate Entrepreneurship
Real Estate Leadership and Project Management
Total Credits9

Project Feasibility Emphasis

Select 3 courses from the following:9
Regional Economic Development: Strategies and Applications
Topics in Transportation Policy, Operations, and Logistics
Infrastructure Finance
Introduction to Environmental and Resource Economics
Public Infrastructure Management and Finance
Multi-modal Transportation Systems
Legal Aspects of the Construction Process
Negotiating in Complex Systems
Financing Real Estate Projects
Real Estate Investments
Analysis of Financial Decisions
Total Credits9

Special Topics Impacting Development

The following courses may be included as electives by all students:

PUBP 745Transportation and the Environment3
EVPP 505Selected Topics in Environmental Science4
EVPP 670Environmental Law3
EVPP 533Energy Policy3
EVPP 635Environment and Society3
GGS 507Geographic Approaches for Sustainable Development3
PHIL 643Environmental Ethics3
REAL 790Special Topics in Real Estate3
REAL 796Directed Reading1-6