MRED+D Courses
The Abbey MRED+D program places strong emphasis on foundational skills, including real estate finance, development economics, land use law and entitlements, construction, and market analysis. Graduates emerge well-prepared to address the challenges facing contemporary cities, with applied, hands-on experience that complements rigorous classroom instruction. The curriculum also goes beyond tradition to foreground the role of AI, urbanism, sustainability and resilience, equity and inclusion, and the value of design and basic placemaking, intentionally structured to be accessible and relevant to students from non-design disciplines. Both the full-time program and part-time program share the same curriculum.
Finance + Affordable Housing Concentrations
In the Abbey MRED+D program, you have the option to pursue a concentration in finance or affordable housing, available to both full-time and part-time students. To earn a concentration, students must complete pre-approved electives — finance concentration electives are offered through the UC Berkeley Haas School of Business, while affordable housing electives are offered through the Department of City & Regional Planning. Ben Metcalf, managing director of the Terner Center for Housing Innovation and research professor of City & Regional Planning, serves as the affordable housing concentration advisor.
Course of Study
- Required Courses
- Electives
- Sample Full-Time Student Program
- Sample Part-Time Student Program
- RDEV 200: Construction + Land Development (3)
- RDEV 209: Integrated Development, Architecture + Urbanism (4)
- RDEV 210: Real Estate Economics + Market Analysis (2)
- RDEV 220: Foundation Principles of Real Estate Finance (4)
- RDEV 225: Applications in Real Estate Finance (3)
- RDEV 235: Real Estate Capital Markets (3)
- RDEV 240: Professional Practice of Real Estate Development (3)
- RDEV 250: Land Development Law + Regulations (3)
- RDEV 260: Sustainable Real Estate Development + Approvals (3)
- RDEV 270: Development + Design Studio (5)
- RDEV 277: Equitable + Resilient Development (2)
- RDEV 280: Capstone Project (1)
You are able to take up to six (full-time) or three (part-time) optional elective units in the fall and spring terms, in any class with seats available, at no additional cost.
Popular Electives
- ARCH 242: Sustainability Colloquium
- CYPLAN 230: U.S. Housing, Planning, and Policy
- CYPLAN 235: Affordable Housing Finance and Development
- CYPLAN 290B: An Interdisciplinary Approach to Land Development + Investment
- LAW 294.15: Real Estate Transactions + Litigation
- MBA 280: Real Estate Investment Analysis + Sustainability
- MBA 282: Real Estate Development
- MBA 283: Real Estate Finance and Securitization
- MBA 295A: Entrepreneurship
- RDEV 290 S1: Small-Scale Development
- RDEV 290 S2: Real Estate + Design Intensive
- RDEV 290 S3: PropTech, AI, and the Future of Real Estate Development
- RDEV 297: Real Estate Internship
Summer
- RDEV 209: Integrated Development, Architecture + Urbanism (4)
- RDEV 210: Real Estate Economics + Market Analysis (2)
- RDEV 220: Foundation Principles of Real Estate Finance (4)
- RDEV 277: Equitable + Resilient Development (2)
Fall
- RDEV 200: Construction + Land Development (3)
- RDEV 225: Applications in Real Estate Finance (3)
- RDEV 250: Land Development Law + Regulations (3)
- RDEV 260: Sustainable Real Estate Development + Approvals (3)
- Elective(s) (0–6)
Spring
- RDEV 235: Real Estate Capital Markets (3)
- RDEV 240: Professional Practice of Real Estate Development (3)
- RDEV 270: Development + Design Studio (5)
- RDEV 280: Capstone Project (1)
- Elective(s) (0–6)
All students participate in the national Urban Land Institute Annual Fall Meeting and complete a capstone project. Capstone projects synthesize knowledge from the full Abbey MRED+D curriculum to propose a program for a predetermined site.
Year 1
Summer
- RDEV 220: Foundation Principles of Real Estate Finance (4)
- RDEV 277: Equitable + Resilient Development (2)
Fall
- RDEV 225: Applications in Real Estate Finance (3)
- RDEV 250: Land Development Law + Regulations (3)
- Elective(s) (0–3)
Spring
- RDEV 235: Real Estate Capital Markets (3)
- RDEV 240: Professional Practice of Real Estate Development (3)
- Elective(s) (0–3)
Year 2
Summer
- RDEV 209: Integrated Development, Architecture + Urbanism (4)
- RDEV 210: Real Estate Economics + Market Analysis (2)
Fall
- RDEV 200: Construction + Land Development (3)
- RDEV 260: Sustainable Real Estate Development + Approvals (3)
- Elective(s) (0–3)
Spring
- RDEV 270: Development + Design Studio (5)
- RDEV 280: Capstone Project (1)
- Elective(s) (0–3)
All students participate in the national Urban Land Institute Annual Fall Meeting and complete a capstone project. Capstone projects synthesize knowledge from the full Abbey MRED+D curriculum to propose a program for a predetermined site.
Course Descriptions
- RDEV 200: CONSTRUCTION + LAND DEVELOPMENT (3)
- RDEV 209: INTEGRATED DEVELOPMENT, ARCHITECTURE + URBANISM (4)
- RDEV 210: REAL ESTATE ECONOMICS + MARKET ANALYSIS (2)
- RDEV 220: FOUNDATION PRINCIPLES OF REAL ESTATE FINANCE (4)
- RDEV 225: APPLICATIONS IN REAL ESTATE FINANCE (3)
- RDEV 235: REAL ESTATE CAPITAL MARKETS (3)
- RDEV 240: PROFESSIONAL PRACTICE OF REAL ESTATE DEVELOPMENT (3)
- RDEV 250: LAND DEVELOPMENT LAW + REGULATIONS (3)
- RDEV 260: SUSTAINABLE REAL ESTATE DEVELOPMENT + APPROVALS (3)
- RDEV 270: DEVELOPMENT + DESIGN STUDIO (5)
- RDEV 277: EQUITABLE + RESILIENT DEVELOPMENT (2)
- RDEV 280: CAPSTONE PROJECT (1)
- RDEV 290 S3: PROPTECH, AI, AND THE FUTURE OF REAL ESTATE DEVELOPMENT (1)
- OPTIONAL UC BERKELEY ELECTIVES
Construction + Land Development is designed as a deep dive into construction through the lens of the developer. The course gives real estate development students a strong working knowledge of the concepts, materiality, and methodologies surrounding the construction of buildings. The material reviews each of the major approaches to construction as classified by construction type.
In addition to vertical construction, the course covers land development fundamentals, including grading, site work, reading soils and geotechnical reports, and evaluating various foundation systems. Subjects also include a review of building typology, structure, systems, rough and finish materials, construction drawings, details, sequencing, code, and the vocabulary that surrounds these topics.
Students are challenged to analyze construction, design, and sustainability with regard to the complex relationships between budget, best practices, functionality, community benefit, aesthetics, and risk to ultimately determine project feasibility. The course serves as the first step in developing the skills necessary to facilitate the decision-making process. Balancing these competing objectives during design and through construction is emphasized throughout.
An understanding of the various roles of project stakeholders — ranging from developers to contractors to architects and engineers — is also addressed. Job site tours and interactions with stakeholders give students real-world applications, deepening their understanding of both vertical and horizontal construction processes.
This course investigates the interrelationship between city-building, development, architecture, and urbanism. It introduces students to design ideas and challenges them to critically evaluate conventional development, illustrating the value of innovative design and urbanism in helping us create more sustainable, resilient, and inclusive cities. Students will develop a sensibility about the characteristics and qualities that successful urban places possess and why. You will also learn a process for conducting a feasibility analysis and proposal for a multifamily housing project. The goal is not to train you as designers but rather as developers who understand the value of design and who can advance a vision for innovative projects.
This course will provide students with a thorough grounding in the theories and methods of urban economics, as well as a complete introduction to professional methods in real estate market analysis. We will cover the full range of land uses and real estate product types, including mixed-use, lab space, TOD, affordable housing, and other specialized development types. Students will learn to prepare professional-level real estate market analyses for real-world projects in complex urban environments.
The course introduces the fundamental technical concepts and analytical methods and tools for making investment and development decisions in real estate. Students will learn the essential tools to understand how real estate value is determined, created, and influenced. We will focus on the basic building blocks and micro-level analyses that pertain to the financial viability and projected performance of individual properties and deals. We will learn to evaluate real estate projects including development projects and their costs and Net Operating Income by constructing pro formas and simple analyses.
This course is designed to facilitate a mastery of core finance and valuation skills required of real estate developers through a practical approach using real world examples / case studies. It is designed to develop students’ ability to think critically about how real estate value is created and develop analytical tools used to derive it. The primary emphasis in the course is on the acquisition, development, financing, and repositioning of real estate projects. The class will have a heavy emphasis on Public-Private Partnerships, and we will study a series of PPPs. Mission Rock will be used as a primary example, but we will study other sites and discuss in detail financing structures available to PPPs.
This course is designed to facilitate a mastery of core Real Estate Capital Markets for real estate developers through a practical approach using real world examples / case studies and extensive guest lectures. It is designed to develop students’ ability to think critically about how real estate is capitalized. The primary emphasis in the course is on the equity and debt markets that are active in real estate.
Professional Practice covers the fundamental business practices of real estate development to equip students for careers in private as well as non-profit development. The course is taught by an experienced real estate development practitioner and will include a variety of guest lecturers in the field including developers, project managers, architects, equity investors, bankers, lawyers, contractors, and property managers representing companies from around the Bay Area.
Course topics will follow the life cycle/sequence of a real estate project’s development including project conceptualization, financing, partnerships, site acquisition, zoning and permits, design, construction, marketing, sales or lease-up and financial reporting. The class will rely on active professional work products, reports, contracts, schedules and documents handled or produced by practitioners on a daily basis as course materials. Hands on assignments will focus on work products expected from real estate project managers to synthesize information, inform decisions, present a real estate development project to others and manage the development process.
Upon completion of the course students will have an understanding of the timing and sequence of events and decisions in the real estate development process, the roles and responsibilities of third parties involved in the process, and a familiarity with reports and work products associated with development management.
This course offers a hands-on approach to understanding how land use and environmental laws and regulations affect development patterns and applying land development laws in real-life scenarios. Students will explore how real estate projects are modified by local government and land development laws and regulations through the planning stages, the design process, and the entitlement process, and how these laws and processes ultimately shape the look and feel of the built environment. At the completion of the course, students will understand the legal framework and entitlement process for developing real estate projects. Students will be able to identify, analyze, and apply the land use regulations affecting a given piece of property, including how environmental laws and regulations governing the physical environment — such as contamination and wetlands — affect the development process and potential of the site.
This course explores the principles, practices, challenges, and opportunities of sustainable real estate development through the lens of the developer and the approval process. Emphasizing innovative and practical approaches, students will examine case studies, learn about green building technologies, and develop strategies for creating economically-viable, environmentally-responsible, and socially-inclusive developments.
The course combines sustainable design and development practices with a deep dive into the approval and entitlement process, focusing on how land use policies, political dynamics, and regulatory frameworks affect developers and influence the feasibility and implementation of sustainable projects. This course approaches the subject from the developer’s perspective, emphasizing how approvals, negotiations, and entitlement strategies shape outcomes and can be leveraged to advance sustainability goals.
Students will explore the integration of approvals and sustainability as complementary rather than competing objectives — arguing that approvals and sustainability can and should go hand in hand.
Studios use real development projects — both local and nonlocal, domestic or international — to provide students with the experience and skills necessary to synthesize real estate development + design projects. The course operates on the premise that development + design are both creative and analytical acts. As developers and designers, students need to understand: the development process, program determination, how development teams work, what makes good design and how it adds value, and how to craft a feasible, innovative project proposal which integrates ideals of equity, sustainability and community benefit into its core. The studio will integrate interdisciplinary projects teams of MRED+D and other CED graduate students.
While the course is not intended to teach MRED+D candidates to be design experts nor teach design and planning students to be finance experts, by engaging in a studio process which incorporates both development and design considerations, students will become more sophisticated and critical participants in the act of shaping urban environments. Students will gather and evaluate market, construction and environmental data to inform design and program choices; evaluate the physical, market, and public policy constraints of a given site; apply best practices of redevelopment; advance innovative design solutions; and communicate their development proposals to a professional audience.
This course explores the interconnectivity of real estate, resilience, and equity across a wide range of scales and technical areas. At a time of great natural and societal change, cities and their inhabitants face unprecedented challenges — and the real estate industry, in particular, sits at the nexus of driving and responding to this change.
Students will examine the impact of natural threats such as sea level rise, flooding, wildfires, extreme heat, drought, and earthquakes, as well as human-influenced challenges such as land-use policy, racial and environmental injustice, income inequality, urban sprawl, inadequate infrastructure, and the need for new financial mechanisms like underwriting and insurance to address these complex conditions.
As part of the course’s focus on equitable development, students will also be introduced to affordable housing concepts and finance. While the course covers these topics at a foundational level, it provides students with a solid understanding of the principles, mechanism, and challenges of developing and financing affordable housing — framing housing equity as a key component of resilience.
The course features discussions of various approaches to resilience and includes multidisciplinary experts who bring resilience and equity into their professional work at multiple scales: region, city, district, and building. Major infrastructure investments and equitable community co-benefits are also key topics, as they influence the physical and financial requirements of real estate development. Students will examine resilient approaches to design, systems engineering, equity, insurance, and policy, and formulate frameworks that enhance both the quality and profitability of real estate investments while advancing equity and environmental impact.
As the culmination of the MRED+D program, this course gives students the opportunity to run through a complete real estate development exercise from start to finish. Students propose their own development topic and select a site, subject to instructor approval. Each student completes a full A-to-Z development project, including due diligence, entitlement strategy, design integration, market and financial analysis, delivery planning, and risk assessment. The course culminates in a professional pitch to a hypothetical investment committee and a written investment memo.
This advanced elective introduces students to the emerging technologies transforming the real estate development industry. Through a combination of hands-on exercises, case studies, and expert-led discussions, students will explore how artificial intelligence, machine learning, and PropTech innovations are reshaping site selection, market analysis, entitlements, design coordination, capital strategy, and project delivery.
Topics include predictive analytics for demand and pricing, AI-driven site and zoning analysis, automated financial modeling, generative design, risk assessment, entitlement tools, and technology platforms used by developers, investors, and public agencies. Students will experiment with new tools to understand how technology can enhance decision-making, reduce risk, and uncover new opportunities throughout the development process.
By the end of the course, students will be equipped to evaluate emerging technologies, understand their strategic implications, and apply forward-looking digital approaches to real-world development challenges. This course is taught by Raj Singh, Managing Partner of JLL Spark Global Ventures, a leading PropTech investment platform.
Please see the following course catalogs for descriptions of elective courses of interest outside the MRED+D program: