Law 794: Real Estate Development
This course is conducted in a format that incorporates traditional course materials, case studies, and guest lecturers and is designed to provide a practical “hands-on” approach to developing a parcel of land in a small setting. Due to the nature of the course, class size is limited. Students will be involved in all phases of the development process, including securing the land through negotiating options for acquisition; meeting with government officials to examine local planning and zoning issues along with an examination of various governmental incentives designed to drive development; discussing the necessary due diligence that must be conducted prior to commencing development; discussing appraisal issues unique to development parcels; discussing and meeting with engineering, surveying, and contractor parties to discuss infrastructure, design, and construction issues; discussing pre-development and post-development financing matters; examining lease and sales of completed projects and various exit strategies; and the course ends with examining the increasing importance of redevelopment of existing properties and hot topic issues such as potential conversions of vacant big box commercial space plaguing cities throughout the United States. The legal issues are multiple at each phase and might involve drafting as well as negotiating and coordinating techniques.
Sequence and Prerequisites: Real Estate Transactions is a prerequisite for enrollment in this course.
Evaluation: The course grade is based on a final examination paper focused on a single proposed development where students will navigate their client through the entire development process with an emphasis on the legal issues discussed in class.