Real Estate Development (RDEV)

Abstract

The Graduate Program in Real Estate Development Program is based in the School of Architecture, Planning & Preservation and offers a Master of Real Estate Development (MRED) degree as well as a graduate Certificate. The 33-credit MRED stresses a comprehensive and collaborative approach to real estate development, going beyond the traditional finance emphasis to address the full range of development issues--from property acquisition, to planning and permitting, law and finance, design and construction, as well as marketing, commercial leasing, property, portfolio and asset management. The program takes full advantage of the School's programs in Architecture, Historic Preservation, Smart Growth and Urban Planning. The program aims to assure that graduates can effectively engage bankers, investors, architects, contractors, lawyers, accountants, and public officials as well as how to bring a project in on time and the ability to deliver dynamic marketing and effective property management. The program uses not only the traditional graduate reading and research mode of learning, and the popular case study review and discussion method, but embraces 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. Many of the instructors for the program, by design, are professionals in the real estate field Energy efficient design and green building, as well as adaptive reuse of existing structures, public/private joint venture financing, accessible housing for senior and disabled housing, join Smart Growth as signatures of the program.

Admissions Information

Acceptance to the program is on a competitive basis. Applicants are required to have a minimum undergraduate grade point average (GPA) of 3.0 on a 4.0 scale from an accredited University. Applicants who demonstrate a strong interest and aptitude with a GPA below 3.0 may be considered based on recommendations or proven success in the field. Such applicants may be admitted provisionally or conditioned on additional preparatory course work. Applicants are required to submit a GRE score, unless they have more than 5 years of experience beyond their undergraduate degree. A GMAT or LSAT score may be submitted in the alternative. Students are accepted on an accelerated (12 month sequence), full time (18 month course sequence) or part-time basis (36 - 60 month sequence). There is no restriction on the applicants' previous field of study, and diverse applicants, in all senses, are very welcome. Students with no economics, finance or accounting background will be required to take 1-3 preparatory courses. Most students will be be required to take an additional 1 credit lab course before, or in conjunction with, the Fundamentals of Finance Course. The lab course covers use of the financial calculator, excel pro formas and ARGUS software. Applications are also accepted from students completing the Certificate in Real Estate Development with up to four courses applied to the MRED degree. Graduate courses taken at other institutions prior to application cannot be transferred to the Program.

Application Deadlines

Fall

Spring

Domestic Applicants:
U.S. Citizens and Permanent Residents

Domestic Applicant Deadlines

Applications must be received by April 15. For best consideration apply by March 1. International Applicants must apply by March 1. April 15 (March 1 preferred) .

Applications must be received by September 15 for preferential consideration; Applications will be accepted until November 1. International Applicants must apply by July 15. November 1 (September 15 preferred) .

International Applicants:
Applicants from Outside the U.S. or U.S. Citizens / Permanent Residents with Non-U.S. Credentials

IMPORTANT: International Applicants and U.S. Applicants with Non-U.S. Credentials must follow the domestic deadlines above if they are earlier than the deadlines listed below.

Applicants seeking admission under F (Student) or J (Exchange Visitor) visas

February 1
If Domestic Deadline is after Feb. 1

June 1
If Domestic Deadline is after Jun. 1

Applicants seeking admission under A, E, G, H, I, and L visas and immigrants

May 1
If Domestic Deadline is after May 1

October 1
If Domestic Deadline is after Jun. 1

U.S. Citizens and Permanent Residents with foreign credentials

May 15
If Domestic Deadline is after May 15

October 31
If Domestic Deadline is after Oct.31

Application Requirements

Complete application form (On-line version):
Academic credentials (official transcripts to the Admissions Office of the Graduate School):
Standardized test scores: GRE, GMAT or LSAT required unless undergraduate degree awarded more than 5 years ago.
Letters of Recommendation: Two confidential letters submitted by professors or others familiar with your capabilities (three letters preferred but not required);
Statement of Goals, Research Interests, and Experiences: 1000-2000 word statement of graduate goals, any special practice focus or research interests, and anticipated post-graduate professional expectations.
Resume identifying all work experience

	Fall	Spring
Domestic Applicants: U.S. Citizens and Permanent Residents
Domestic Applicant Deadlines	Applications must be received by April 15. For best consideration apply by March 1. International Applicants must apply by March 1. April 15 (March 1 preferred) .	Applications must be received by September 15 for preferential consideration; Applications will be accepted until November 1. International Applicants must apply by July 15. November 1 (September 15 preferred) .

International Applicants: Applicants from Outside the U.S. or U.S. Citizens / Permanent Residents with Non-U.S. Credentials IMPORTANT: International Applicants and U.S. Applicants with Non-U.S. Credentials must follow the domestic deadlines above if they are earlier than the deadlines listed below.
Applicants seeking admission under F (Student) or J (Exchange Visitor) visas	February 1 If Domestic Deadline is after Feb. 1	June 1 If Domestic Deadline is after Jun. 1
Applicants seeking admission under A, E, G, H, I, and L visas and immigrants	May 1 If Domestic Deadline is after May 1	October 1 If Domestic Deadline is after Jun. 1
U.S. Citizens and Permanent Residents with foreign credentials	May 15 If Domestic Deadline is after May 15	October 31 If Domestic Deadline is after Oct.31

Degree Requirements

Master of Real Estate Development (MRED)
Masterof Real Estate Development (MRED) A 33 credit hour (1ccelerated Path is 12 months); Full time path is 18 months and part time can take anywhere from 24 - 60 months) program earning a Masters degree awarded by the Graduate School of the University of Maryland, Marylands flagship public university in College Park, Maryland. The program is not a cohort program, and all courses will not be offered every term. The curriculum has 7 core requirements, 3 electives and a required capstone course integrating knowledge from all parts of the curriculum. Graduates must have completed a capstone project or research thesis to be awarded the MRED degree The program allows for tailoring the core courses to a students background and interest, so that students with a strong background or taking other graduate work at Maryland in an area, such as architecture, law, planning, public policy or finance, would have the core courses in those areas waived and additional electives or more advanced courses substituted with the advice and approval of the Director. Application fees, matriculation fees, technology fees and etc are fixed by the Graduate School. Tuition rates for students qualifying for Maryland residency are $733/credit hour; non-Resident student tuition is $927/credit hour. Additional non-credit preparation and enhancement courses are offered by the Colvin Institute at comparable rates. Tuition costs are subject to adjustment by the Graduate School prior to the beginning of any term. The course work for the core courses is very intense, and off site visits are required in most courses anywhere from 2 to 3 times per semester. Students who are also working full time are advised that it is not realistic to take more than two courses in one semester. Course offerings in the Winter and Summer term are very limited, and generally no more than 1 per term in those sessions will be offered, requiring students in the accelerated path to seek early advising and plan carefully. Students on the accelerated and full time path should not plan to work off campus, or more than 10 hours a week at maximum, given the work load. Most RDEV courses are offered from 7:00 - 9:45 pm on one weeknight a week, with courses scheduled Mondays through Thursdays. Full time and Accelerated Path students may take electives in other programs of the school, some of which meet mornings. A few courses are available in the 4:00 - 6:30 pm slot.

Facilities and Special Resources

The University of Maryland is an exceptional location for the pursuit of graduate studies in the field of real estate development, and graduate students are encouraged to take advantage of the opportunities. The university is eight miles from the incomparable library and research facilities of Washington, D.C. In the nation's capital, MRED graduate students have access to the Library of Congress, as well as the specialized collections of professional associations and international organizations, such as the National Association of Home Builders, the Urban Land Institute, the American Institute of Architects, the National Building Museum and agencies at all levels of government, municipal, county and state as well as the unique opportunities and challenges of the District of Columbia.

Close by are key historically important and interesting places in the development of U.S. communities, including the 4th settlement in America at Historic St. Mary's City which is undergoing reconstruction. Just 10 minutes from campus is the original new town of the 1930s in Greenbelt, Maryland, as well as the 1960's new towns of Columbia, Maryland, St. Charles, Maryland and Reston Virginia. One of the best examples of new urbanism is the Kentlands development less than 30 minutes away. And not to be missed are the major redevelopment and urban living revivals in Baltimore City and the historic neighborhoods of Anacostia and Columbia Heights in the District of Columbia. The School of Architecture, Planning, and Preservation is also the home of the Colvin Institute of Real Estate Development, endowed by John and Karen Colvin, a key supporter of the MRED program and the home of the Real Estate Review and sponsors of the annual MRED spring symposium annually during the first weekend in May. Also associated with the School is the National Center for Smart Growth Research and Education, which involves faculty and graduate students from several campus units in: multi-disciplinary research on the fiscal, environmental and social impacts of alternative development patterns; evaluation of growth management strategies, national and international research as well as technical assistance to state agencies and local jurisdictions. The program's location in College Park, with Metro access to downtown Washington, and easy access up the Baltimore-Washington Parkway to Baltimore City, makes field work, site visits and interaction with ongoing real estate developments one of the signature features of the MRED program. The MRED Council of Advisors, as well as adjunct faculty who are active in all phases of development, are eager to engage with students in the program which offers formal and informal occasions for advice about the current trends in the industry as well as the very real possibility of full- or part- time employment or internships.

Financial Assistance

The MRED Program offers a very limited number of teaching and research assistantships. Currently there are three scholarships offered to applicants or returning students. Work opportunities both on, and off campus, are relatively plentiful.

Contact Information

Additional information on program offerings, degree requirements and financial aid can be obtained on the School's Web site (www.arch.umd.edu/real_estate_development) and by contacting:

Margaret McFarland, JD, Director Colvin Institute of Real Estate Development
University of Maryland Architecture 1243 College Park
MD 20742
Telephone: 301-405-6790
mmcf@umd.edu

www.arch.umd.edu/real_estate_development