A 17-credit certificate in real estate development offers graduate students in many fields the opportunity to supplement their major areas of study with broad knowledge about making substantially better metropolitan developments. The program is also a stand-alone certificate for those full-time and part-time students who want to focus only on real estate development.
Eligibility
- Current U-M Rackham graduate student (for instance, MURP, MPP, MS SEAS, Ph.D.)
- Current U-M non-Rackham graduate student (for instance, M.Arch., MUD, MBA, JD)
- The program also considers applications from individuals who are not current U-M graduate students. Applicants must have completed a bachelor’s degree and have work experience that has led to the need for more background in real estate development.
- As Visas cannot be given for Certificate programs, International Students that are considered “Stand Alone” applicants are not eligible to apply for the Graduate Real Estate Development Certificate.
Prerequisite
Students are encouraged but not required to have completed a course in microeconomics before beginning the certificate.
Certificate Requirements
The 17-credit real estate development graduate certificate requires completion of courses in six categories:
- An introductory real estate overview course (3 credits)
- At least three credits in real estate finance and investment
- At least three credits in real estate and land use law
- At least three credits in real estate in the urban development context
- At least three credits in design and implementation
- A two-credit integrative seminar
Certificate Courses
A list of courses that count toward each category is included below. The approved list of courses is dynamic and evolving. Click the link below to view it as a Google Spreadsheet.
1: Introductory Real Estate Overview Course (3 credits)
The aim of these courses is to give students an overview of the process of real estate development from conception to completion before they enter courses that deal with detailed aspects of development.
| Course Number | Course Name | Credits | Term |
|---|---|---|---|
| ARCH 517 | Architect/Planner as Developer | 3 | Winter |
| URP 555 | Architect/Planner as Developer | 3 | Winter |
| URP 596 | Fundamentals of Real Estate | 3 | Fall |
| URP 597 | Acquiring and Repositioning Real Estate | 3 | Winter |
2: Real Estate Finance and Investment (3 credits)
These courses provide an understanding of how real estate is financed and why investors are interested in real estate. Students will learn about the role of real estate finance in capital markets and about the structure of financing for real estate projects.
| Course Number | Course Name | Credits | Term |
|---|---|---|---|
| FIN 566 | Real Estate Finance and Investment I | 2.25 | Winter |
| FIN 575 | Financial Modeling | 1.5 | Winter |
| URP 591 | Financing Real Estate Development | 3 | Winter |
| URP 597 | Acquiring and Repositioning Real Estate | 3 | Winter |
| URP 598 | Affordable Housing Development in Practice | 3 | Fall |
| URP 599 | Is a Career in Real Estate Right for Me? | 2 | Fall |
3: Real Estate and Land Use Law (3 credits)
These courses provide background in the legal structure that encourages, discourages, and controls different types of real estate development. These courses provide the background for understanding why jurisdictions regulate development and how regulation can enhance the quality of development.
| Course Number | Course Name | Credits | Term |
|---|---|---|---|
| BL 511 | Real Estate Law | 1.5 | Winter |
| LAW 432 | Tax Planning for Real Estate Transactions | 2 | Fall |
| LAW 560 | Property | 4 | Fall, WInter |
| LAW 612 | Alternate Dispute Resolution | 3 | Fall, Winter |
| LAW 735 | Land Use Law and Policy | 2 | Fall |
| LAW 826 | Fair Housing Law and Policy | 2 | Winter |
| URP 502 | U.S. Planning Institutions and Law | 3 | Winter |
| URP 503 | Comparative Planning Institutions and Law | 3 | Winter |
4: Real Estate in the Urban Development Context (3 credits)
These courses encourage students to consider what constitutes desirable development that enhances the quality of life in the context of market, political, and social factors.
| Course Number | Course Name | Credits | Term |
|---|---|---|---|
| SM 513-004 | Sports, Economic Development and Urban Revitalization | 3 | Fall |
| FIN 563 | Real Estate Development in Practice | 3 | Fall, Winter |
| URP 572 | Comparative Housing and Property Policy | 3 | Fall |
| URP 573 | Infrastructure Planning | 3 | Winter |
| URP 580 | Metropolitan Structures | 3 | Winter |
| URP 581 | Housing Policy and Economics | 3 | Fall |
| URP 582 | Neighborhood Planning | 3 | Fall |
| URP 584 | Economic Development Planning | 3 | Winter |
| URP 594 | Real Estate and Urban Development | 3 | Winter |
5: Design and Implementation (3 credits)
These courses aim to give students a background in areas of design and implementation of real estate development projects.
| Course Number | Course Name | Credits | Term |
|---|---|---|---|
| ARCH 506 | High Density Design | 3 | Winter |
| ARCH 523 | History of Urban Form | 3 | Fall |
| CEE 531 | Construction Cost Engineering | 3 | |
| CEE 532 | Construction Project Engineering | 3 | Winter |
| EAS 533 | Negotiation Skills | 3 | Fall |
| EAS 787 | Metropolitan Dynamics Studio | 2 | Winter |
| FIN 563 | Real Estate Development In Practice | 3 | Fall, Winter |
| URP 522 | Negotiation, Collaboration, & Equitable Engagement | 3 | Fall |
| URP 539 | Sustainable Design and Construction in Real Estate | 3 | Fall |
| URP 541 | Urban Land Use Planning | 3 | Winter |
| URP 551 | Physical Planning Workshop | 3 | Winter |
| URP 595 | Public Private Partnerships | 3 | Fall |
6: Integrative Seminar (2 credits)
This two-credit seminar addresses topics in real estate that build on the knowledge gained in previous courses and that offer advanced students the opportunity to share ideas about current real estate issues such as walkable urbanism, innovative project financing, smart growth, regionalism, mortgage foreclosures, and others. Students should have completed at least one real estate certificate course offering before taking the integrative seminar.
| Course Number | Course Name | Credits | Term |
|---|---|---|---|
| URP 590 | Seminar in Real Estate Development | 2 | Winter |
Certificate Policies
When enrolled in a Taubman College-administered graduate certificate, students must abide by Rackham Graduate Schoolʼs policies regarding shared courses between a degree and a certificate or between two certificates.
- Students may take certificate courses in any order.
- All Real Estate Development Certificate students must take URP 590: Seminar in Real Estate Development. There is no alternative course that fulfills the Integrative Seminar category.
- Students must complete at least one course and the minimum number of credits for each category. (For example: Most of the categories require 3 credits. Most students will take one three-credit course per category. Others may take 2 1.5-credit courses to complete an individual category).
- Course credits cannot be split.
- Courses taken prior to applying to and enrolling in the certificate will count towards certificate requirements.
- Special topics or experimental courses often offer varied sections under the same course number. For example, URP 610 has previously been “Sustainable Design and Construction in Real Estate” (now URP 539) and “Affordable Housing Development in Practice” (now URP 598). Pay close attention to the Course Title to verify whether a particular course is approved to count toward the minor.
- The majority of the courses that count toward the certificate are open classes and you can register for them during your regular registration period for an upcoming term.
- Select courses will have enrollment restrictions. You’ll need to work with the academic unit that owns the course to elect these courses. For example, you should contact Taubman College for assistance with URP 502 or URP 503, Ross for assistance with FIN 563, and Engineering for assistance with CEE 531.
- Courses graded pass/fail may not be used toward the real estate development graduate certificate.
Counting credits from a single course toward both the certificate and another degree
Per Rackham Graduate School policy, students in a master’s program may double count up to one-sixth of their master’s credits but not more than one-half of the certificate program credits, provided they are courses from the approved certificate curriculum. Certificate students should consult advisors in their home units to confirm courses they wish to be double-counted.
For example:
M.U.R.P. 48 x 1/6 = 8 credits can be double counted
Requesting exceptions
While the pre-approved elective list is your primary resource for identifying appropriate minor courses, the list is always evolving and, in some cases, students may be able to petition for an exception to have an alternative course used toward the minor. If you are interested in submitting a petition for an exception simply email TaubmanCollegeAdvising@umich.edu with the following: the course name, number and title, course syllabus and/or course description. Submissions will be reviewed by the Graduate Certificate’s Faculty Director.
I changed my mind, can I drop the certificate?
We understand that academic plans change. If at any time you decide that you’d like to drop the graduate certificate, email TaubmanCollegeAdvising@umich.edu and we will work with Rackham to update your record.
Completing your certificate
Step 1: Apply to Graduate
All certificate students must apply to graduate from their certificate program. If you are also enrolled in a degree program, you will submit two applications to graduate – one for your degree program and one for your certificate.
Step 2: Complete Dual/Joint Degree Election Form
This step is only for students completing a certificate in addition to a degree. Those completing only the certificate as a standalone can disregard this section.
You’ll need to list the courses to be applied to your degree program on one side and the courses for your Real Estate Development Certificate on the other. Any courses being double-counted, should appear on both sides and be designated with a DC.
- If your degree is also a Taubman College program: Fill out the form and submit it to TaubmanCollegeAdvising@umich.edu. We will obtain the required signatures for you and submit the completed form to Rackham.
- If your degree is not a Taubman College program: Fill out the form and submit it to TaubmanCollegeAdvising@umich.edu first. We will obtain the required signature for your certificate and return the form to you for submission to your other school/unit.
If you have any questions while filling out the form, contact your academic advisor(s) for one or both of your programs.