Spring 2023  |  PA 5221 Section 001: Private Sector Development (68000)

Class Component:
3 Credits
Grading Basis:
Student Option No Audit
Instructor Consent:
No Special Consent Required
Instruction Mode:
In Person
Enrollment Requirements:
Graduate Student
Times and Locations:
Regular Academic Session
01/17/2023 - 05/01/2023
Mon 09:00AM - 11:45AM
UMTC, West Bank
Hubert H Humphrey Center 15
Enrollment Status:
Open (17 of 30 seats filled)
Also Offered:
Course Catalog Description:
Roles of various participants in land development. Investment objectives, effects of regulation. Overview of development process from private/public perspective.
Class Notes:
Class Description:
The course will provide students with a framework that integrates theory and practice into a developer's-eye-view of urban real estate development. Students will gain an understanding of the development process, real estate markets and products, the project cycle, and the developer's motivations and decision-making process. In completing this course, students will achieve the following three objectives:

- Overview of the Real Estate Development Business

- Develop a general understanding of the real estate development business including products, markets, and actors, with an emphasis on developers and particularly their personalities, motivations, and interests.

- Tools and Skills: Develop an understanding of the quantitative and qualitative tools used to evaluate a real estate opportunity and the skills required to build and use those tools.

Students will learn how to create and manipulate their own "pro forma" economic models and use them to evaluate the economics and finances of an investment or business.

Generalization to Urban Development: With this new knowledge, tools, and analytical skills, students will be able to generalize across a broad spectrum of urban development activities from the perspectives of a variety of actors ranging from developers, investors, and lenders to city planners, elected officials, and community members.

With this combination of knowledge, tools, and skills, students will also be prepared to work in the real estate development industry and will be able to confidently tell prospective employers, "I know how to create a proforma."

More information about Peter Brown's projects, teaching, and writing can be found at http://www.peterhendeebrown.com/.
Who Should Take This Class?:
This course is for graduate and qualified undergraduate students interested in learning the nuts and bolts of how real estate developer think, how urban real estate markets work, and how to analyze a real estate development opportunity. This course will prepare you to work in city government and work with developers with confidence, or to work in private or nonprofit development.
Learning Objectives:
See the syllabus
30% Case study write-ups
20% Homework exercises
20% Midterm Exam
20% Final Exam
10% Participation
Exam Format:
Take-home midterm and final exams. See syllabus for details.
Class Format:
30% Lectures (most lectures will be asynchronous)
30% Class Discussion of case studies
20% Student Presentations
20% Guest Speakers
20-30 Pages Reading Per Week
3 Homework Assignment(s)
7-9 Case Studies including write-ups and spread sheets
2 Exams
1 Book
Past Syllabi:
http://classinfo.umn.edu/syllabi/brow1804_PA5221_Fall2023.pdf (Fall 2023)
http://classinfo.umn.edu/syllabi/gunde208_brow1804_PA5221_Spring2021.pdf (Spring 2021)
http://classinfo.umn.edu/syllabi/gunde208_brow1804_PA5221_Spring2019.pdf (Spring 2019)
http://classinfo.umn.edu/syllabi/gunde208_brow1804_PA5221_Spring2018.pdf (Spring 2018)
http://classinfo.umn.edu/syllabi/brow1804__PA5221_Spring2016.pdf (Spring 2016)
Instructor Supplied Information Last Updated:
2 December 2020

ClassInfo Links - Spring 2023 Public Affairs Classes Taught by Peter Brown

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