For Immediate Release
The College of Environmental Design (CED) at the University of California, Berkeley is pleased to announce the formation of an innovative advanced degree in real estate development. The newly launched Masters in Real Estate Development + Design (MRED+D) is an 11-month interdisciplinary degree program incorporating finance and cutting-edge design to prepare real estate development professionals to build sustainable, equitable, and prosperous cities.
As our rapidly urbanizing world faces major challenges -- from climate change to social inequality -- creating a need for professionals who understand the power of design and have a deep knowledge not only of the mechanics of real estate, but also how development can bring positive benefits to society and the environment, is paramount to the future.
“As a developer with both private and public sector experience, I know the importance of the built environment and its design to local communities, urban economies, and metropolitan sustainability,” said Kofi Bonner, Regional President of FivePoint Communities, a 2011 CED Distinguished Alumnus and a professional affiliate of the MRED+D Program. “More than ever before, we need a new generation of professionals equipped to integrate real estate development and design. Development decisions must be financially sound while addressing the social, economic, and environmental challenges of our time."
Covering the fundamentals of real estate markets, finance, urban economics, property and land use law, project feasibility analysis, and the details of the urban development process, the MRED+D Program goes beyond a traditional approach to link real estate to the world of design based on two convictions: that successful real estate development requires excellence in urban design, planning, and sustainability, and that design thinking – the iterative process of problem finding, prototyping solutions, and iterative critique – is fundamental to producing the most highly regarded and valuable real estate projects.
"Developing well-designed, sustainable communities in urban areas requires vision, creativity and a skill set to navigate today’s real estate development complexities,” said Cynthia Parker, President and CEO of Bridge Housing and MRED+D Professional Affiliate. “This program will provide those tools for future leaders in the industry.
Led by Faculty Director Chris Calott, Lalanne Chair in Real Estate, Architecture & Urbanism, and Practice Director Carol Galante, the I. Donald Terner Distinguished Professor in Affordable Housing and Urban Policy and Faculty Director of the Terner Center for Housing Innovation, MRED+D’s faculty includes experts in real estate development practice across product types, housing and credit markets, land use and environmental law, infill development, conventional and prefab construction, urban transportation, sustainable design, green infrastructure, and more. Degree electives will also be offered by faculty at Berkeley Law and the Haas School of Business.
MRED+D students will also have the opportunity to interact with the program’s professional affiliates – distinguished developers, designers, and planners, who serve as resources and mentors to the program -- building dynamic career networks that can last a lifetime.
CED’s MRED+D program offers an especially competitive edge to students by providing a world-class education at one of the top research universities in the world. CED’s professional programs focused on the built environment ranked #1 among all public universities in the country, and Berkeley ranks #3 in the world in the area of architecture and the built environment.
The San Francisco Bay Area is a vibrant nexus of technology innovation, business leadership, and progressive real estate development firms -- an ecology in which the MRED+D is embedded. Students will engage with real estate entrepreneurs across a wide range of sectors in the Bay Area and across California. The UC Berkeley MRED+D Program goes beyond the traditional approach harnessing design thinking to prepare students for the major environmental and economic forces increasingly shaping real estate development.
“The College of Environmental Design welcomes the new MRED+D program -- the only such program in the entire University of California system -- and its students,” said Jennifer Wolch, William W. Wurster Dean. “They will not only learn from the faculty and each other, but the entire College and campus community will be intellectually enriched by the questions they pose and the concrete problems they tackle.”
Read more about the new MRED+D Program here.
Press contact: Elizabeth Bowler, Coordinator of Policy & Strategic Initiatives, firstname.lastname@example.org