MSRED: Master of Science in Real Estate Development
SUNY’s only degree in real estate development
Students present their proposals for a mixed-use development in downtown Buffalo during the final review of their capstone course. The interdisciplinary studio places students on a real project, with a real client, in real time.
The Master of Science in Real Estate Development prepares students for careers in one of the world’s most dynamic and influential industries. The industry makes places where people live and work, develops local economies and employment, and shapes cities and environments. Those who commit themselves to ethical pursuit of careers in the industry can take pride that they can see the fruits of their work and help make better communities.
Our courses feature first-hand instruction from experienced developers and real estate professionals. Many courses engage the resurgent City of Buffalo, a vibrant laboratory for applied study in proximity to global financial and employment centers in New York, Boston and Toronto. Students have the opportunity to work closely with allied professionals in architecture, urban planning, management, and law.
Students will explore complex trends in this rapidly evolving industry, including place-making and urban design, affordable housing and community development, suburban transformation, energy innovation, sustainable development and the effects of technological changes in the workplace. Courses are highly multidisciplinary, spanning architecture and design, planning and public policy, financial analysis and modeling, market analysis, construction management, building technologies, and the structuring of deals and transactions. Elective courses allow students to dive deeper into topics such as historic preservation, inclusive design, property management, and regional economic development. The program's capstone course organizes multidisciplinary student teams in a semester-long project involving a real site, for a real client, in real time.
Students in the MSRED program will build a network of relationships with industry executives through faculty networks, field visits, social events, guest speakers and paid and academic-credit internships. The program receives guidance from an Advisory Committee of seasoned real estate executives, and is led by a faculty consisting of thought leaders and top real estate professionals.
Students are also involved with the Urban Land Institute, New York State Commercial Association of Realtors, Society of Industrial and Office Realtors, and New York State Association for Affordable Housing, among other organizations.
What will you be studying?
SAMPLE CURRICULUM
Semester 1: Fall
END 500: Processes of Real Estate Development (4 credits)
END 525: Financing Development Projects 1
END 543: Construction Management
Elective
Elective
Semester Total: 16 credits
Semester 2: Spring
END 526: Financing Development Projects 2
END 581: Market Analysis
END 521: Technology Colloquium (1 credit)
END 504: Structuring Deals and Transactions
ARC 631: Design for Development
Elective
Semester Total: 16 credits
Semester 3: Fall
END 593: Capstone (7 credits)
ARC 544: Building Technology
ARC 646: City and Environment in Real Estate Development
Elective
Semester Total: 16 credits
PROGRAM TOTAL: 48 CREDITS
All courses 3 credits unless otherwise indicated
Revised August 1, 2017
Cost of study
The University at Buffalo is the only institution in the SUNY system to offer graduate-level options in real estate development. Make a smart investment in your future – pursue an MSRED at UB.
Full-Time per Semester
| Domestic In-State | Domestic out-of-State | International | |
| Tuition | $5,545.00 | $11,325.00 | $11,325.00 |
| Fees | $1,307.50 | $1,307.50 | $1,307.50 |
| International Student Fee | $ - | $ - | $ 100.00 |
| School Fee | $237.00 | $237.00 | $237.00 |
Further details are available at: http://www.buffalo.edu/studentaccounts/tuition-and-fees.html
Note: tuition and fees are subject to change at any time.
Updated: July 2018
Part-Time per Semester
| (per credit up to 11) | Domestic In-State | Domestic out-of-State | International |
| Tuition | $462.00 | $944.00 | $944.00 |
| Fees | $101.46 | $101.46 | $101.46 |
| Activity Fee (per semester) | $85.00 | $85.00 | $85.00 |
| Transcript fee (per semester) | $5.00 | $5.00 | $5.00 |
| International Student Fee (per semester) | $ - | $ - | $100.00 |
| School Fee (per semester) | $237.00 | $237.00 | $237.00 |
Further details are available at: http://www.buffalo.edu/studentaccounts/tuition-and-fees.html
Note: tuition and fees are subject to change at any time.
Updated: July 2018
Scholarship Opportunities
The School of Architecture and Planning - in partnership with the university, our alumni, faculty and staff and philanthropic supporters - provides a range of scholarship opportunities to our graduate students.
The following scholarships are uniquely available to students in our real estate development program:
Alumni-Supported Scholarships
Due to the generosity of UB alumni in the real estate field, we have resources to assist you in your studies, with scholarship opportunities for Real Estate Development students. Some include mentorships from leading professionals. Students applying to our program should indicate their interest on the application form, and describe the reasons for their interest in the personal statement. Applicants and current students may contact Professor Daniel Hess for more information at dbhess@buffalo.edu.
Upstate New York SIOR Scholarship
The SIOR Scholarship in Real Estate Development is awarded annually, and is funded by the Society of Industrial and Office Realtors (SIOR), a leading commercial real estate association, representing the world's top producing brokers (www.sior.com). This $5,000 annual scholarship provides support for UB graduate students in the real estate development program, enables SIOR to partner with the school and program, supports SIOR’s mission to support education, and grows awareness among students for SIOR and the profession. Scholarship preference will be given to a student contemplating a career in commercial real estate brokerage.
WNY NYSCAR Scholarship
Awarded annually starting in 2016, this dedicated scholarship is for an incoming full-time student who will be pursuing an MSRED at UB. In the sum of $4,000, the award represents the generosity of the Western New York chapter of the New York State Commercial Association of Realtors (www.wny.nyscar.org), and the dedication of its members to the education of the future leaders of the real estate development industry. The WNY NYSCAR Scholar will be named each spring for the next academic year.
Western New York (WNY) Prosperity Fellowship
The Prosperity Fellowship program is dedicated to supporting promising UB students who are committed to contributing to the economic viability of the WNY Region. The program provides Prosperity Fellows with professional development opportunities, as well as resources and access to WNY business leaders and the community. This fellowship program assists graduate students in the School of Architecture and Planning who are actively preparing for careers that further economic development and growth, especially in the WNY region. Up to $25,000 in scholarship and internship support for an academic year will be awarded to each Fellow based on demonstrated financial need.
https://www.buffalo.edu/content/www/entrepreneurship/programs/wny-prosperity.html
Students are also encouraged to apply to other competitive national scholarships, which are not unique to UB, but also open to the aspiring and advancing real estate professional:
Appraisal Institute Education Trust -- The Appraisal Institute Education Trust awards several types of scholarships annually, including scholarships for graduate real estate students. The award for graduate real estate study is $2,000.
http://www.aiedtrust.org/pages.asp?id=5
CREW Network -- The CREW (Commercial Real Estate Women) Network and its scholarship program partners GBWM Initiative, CBRE, Prudential Real Estate Investors and Wells Fargo, awards ten (10) $5,000 scholarships each year to women who are enrolled full-time in a real estate program with the intent to pursue a career in commercial real estate.
https://crewnetwork.org/foundation/college-scholarships
Institute of Real Estate Management – The IREM Foundation offers the George M. Brooker Collegiate Scholarship for Minorities, which is intended to assist minority students, on the basis of academic excellence, who are committed to a career in real estate management after graduation. Graduate school awards are up to $5,000.
International Council of Shopping Centers – The ICSC Foundation offers two (2) Charles Grossman Graduate Scholarships per year. The awards are in the amount of $10,000, and are available to graduate students who are ICSC members and have a stated preference for a career in retail real estate.
https://www.icsc.org/who-we-are/foundation/talent/general-scholarships-graduate
NAIOP -- NAIOP, the Commercial Real Estate Development Association, offers five $5,000 scholarships to support graduate and undergraduate students pursuing a degree that will lead to a career in the commercial real estate industry. Preference will be given to students who have been traditionally under-represented in the commercial real estate field.
Applicants must be a NAIOP University member in good standing; be a full-time undergraduate student of junior or senior standing or enrolled in an applicable graduate program; and have a minimum 3.0 GPA (4.0 scale). Each award recipient will receive a complimentary registration to the NAIOP Annual Commercial Real Estate Conference.
http://www.naiop.org/en/Connect/Diversity-Resources/Diversity-Scholarship.aspx
Pension Real Estate Association -- PREA awards scholarships to students studying real estate (with an apparent primary emphasis on finance) at the graduate school level. Average awards are $2,000.
http://www.prea.org/awards/scholarship-programs/
WX -- WX is an organization of New York Women Executives in Real Estate. Its scholarship program is designed to encourage and support women in their pursuit of careers in real estate in the NYC metro area. Average awards appear to be $4,000-$5,000.
Meet our faculty
Some of our instructors are industry professionals with long experience in real estate development and a love of teaching. Others are academic faculty members devoted to exploring architecture and planning for urban development. Together, they provide wide-ranging, innovative education for the industry’s direct needs and for its roles in urban affairs.
Meet our professional advisors
Members of our Real Estate Development Advisory Committee review our curricula and advise in our courses to ensure we are keeping up with a changing industry. They also help us prepare for the future expansion of our program, provide mentoring to students, serve as guest lecturers, and sometimes offer their projects as cases for instruction. Students have the opportunity to meet many of them during the course of their studies.
Internship and Employment Opportunities
For a well-rounded real estate development education, we encourage our students to pursue internships during their course of study, and we support them in their search for employment.
Students may apply for one-time approval to get up to 3-credit hours for internships demonstrating substantial individual accomplishment as reflected in a report, study, or analysis completed for the employer. In addition, we encourage students to pursue full-time paid internships for the summer between their first and second year of study. Our faculty and professional advisers have significant national industry relationships, and make special efforts to assist students in obtaining internships and permanent jobs. As a result, our students have had an excellent record of success in the job market. To date, all our students have obtained internships and graduates have obtained full-time, post-graduate employment within 30-60 days of graduation.
Employers for internships and full-time, post graduate employment include the following leading firms in Buffalo, Charlotte, and New York City:
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We are proud of our students’ impressive start in the professional world of real estate development.
As we move forward, we have strong relationships with numerous UB alumni in real estate industry leadership positions, in cities such as New York City, Boston, Chicago, Philadelphia, San Francisco, and Washington, DC. These seasoned and innovative professionals have been instrumental in expanding our program’s geographical reach and impact.
Career resources in real estate development
Resources on Careers in Real Estate
CCIM Institute: A professional commercial real estate association, provides a job search engine via Select Leaders.
https://ccim.selectleaders.com
NAIOP Commercial Real Estate Development Association: Career center with job opportunities and career tips.
http://www.naiop.org/
NAIOP Upstate Chapter: Upstate New York conferences, job listings, networking opportunities, and current events.
http://www.naiopupstateny.com/
Select Leaders: A job board and resource site for those looking for positions in the real estate industry.
https://www.selectleaders.com/
Simply Hired: Job Board provides keyword searches pertaining to real estate development in NYC and surrounding areas.
http://www.nycrealestatejobs.com/a/jobs/find-jobs
The Real Estate Roundtable: A guide to over a dozen real estate development trade associations, some with their own career information.
http://www.rer.org/About_Us/Partner_Associations.aspx
Urban Land Institute: Career Center has career news and Job Board of national real estate development opportunities.
http://uli.org/programs/career-center/
Stan Ross, The Inside Track to Careers in Real Estate, Urban Land Institute, 2006; a book that addresses careers in the real estate industry; will help the reader determine whether a career in real estate is the right choice, and reveals how to get started in the field.
Interested in a MS in Real Estate Development?
Would you like to learn more?
Contact:
Kevin P. Donovan
Director of Graduate Recruitment
129 Hayes Hall
716-829-5224
gradrecruitment@ap.buffalo.edu
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