Advanced Development Practices

Advanced Development Practices

Advanced Development Practices is a sequel to the Essentials of the Development Process and builds on the concept of a Development Matrix where the seven stages of Real Estate Development are combined with the eight Tasks required in each stage to produce a 56-cell matrix.

This survey course focuses on the eight Tasks in each stage of the real estate development process. Each Task is really a category of tasks that must be completed in order to create value throughout the development process. Each Stage of Development begins with the Acquisition Task and ends with the Disposition Task. In between, the developer must address and complete the following Tasks: Finance, Market Studies and Marketing Strategy, Environmental, Approvals and Permits, Improvements, and Transportation and Accessibility. In reality these Tasks are completed in various orders and usually they are done simultaneously. The order of the Tasks presented in this course is arbitrary, and most tasks interact with each other to some extent and the completion of individual task is dependent on the completion of other Tasks. This course broadly describes the Tasks and the sub-tasks from a developer’s point of view. Students are not expected to be experts in all of these tasks, but they are expected to understand and appreciate what needs to happen for a successful development, i.e. one that creates value in excess of the costs needed to create value.

Lesson Plans

October 20, 2016

Acquisitions

Time: noon - 2 p.m. (Eastern Standard Time)

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This session begins with a brief review of the Development Matrix and then focuses on the five sub-tasks in the Acquisition Task category.  A review of various acquisitions strategies is presented using two class exercises.

Learning Objectives and Outcomes

  • Explain the real estate development process, 7 stages
  • Articulate the five sub-tasks of acquisition
  • Differentiate among feasibility, underwriting, and due diligence
  • Define various acquisition strategies

October 27, 2016

Market and Feasibility Analysis

Time: noon - 2 p.m. (Eastern Standard Time)

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This module addresses the need for accurate financial projections and record keeping as well as the accumulation of debt and equity capital for the real estate development. The special skills address the sources and uses of funds in a development, and estimating construction loans.

Learning Objectives and Outcomes

  • Articulate the 3 subtasks of financing.
  • Recognize importance of accurate record-keeping and timely reports.
  • Define various capital requirements needed in each stage of development.
  • Estimate development budgets
  • Estimate sources and uses of funds

November 3, 2016

Market Studies and Marketing Strategies

Time: noon - 2 p.m. (Eastern Standard Time)

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This session discusses the need for accurate and thoughtful market forecasts and projections and then emphasizes the need for a coherent marketing strategy to capture the market opportunities. The special skills outlines estimation techniques for projected rental rates and absorption.

Learning Objectives and Outcomes

  • Estimate and analyze future market conditions
  • Create a matrix for market condition analysis
  • Evaluate and determine marketing strategies for each stage of development
  • Estimate market absorption rates and rental rates

November 10, 2016

Environmental Tasks

Time: noon - 2 p.m. (Eastern Standard Time)

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This module discusses environmental challenges in terms of environmental studies; sustainability certifications; surface, sub-surface and atmospheric characteristics of the site; and possible historical and cultural restrictions on a site. Evaluating potential environmental concerns is demonstrated through two class exercises.

Learning Objectives and Outcomes

  • Differentiate between Phase I, II and III environmental studies
  • Understand the role of sustainability certifications in the development process
  • Provide examples of environmental conditions related to surface, sub-surface and atmospheric characteristics of the property
  • Include historic and cultural factors when analyzing a properties environment and understand the possible restrictions on use due to those facts.

November 17, 2016

Approvals and Permits

Time: noon - 2 p.m. (Eastern Standard Time)

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This module emphasizes the need for developers to obtain permits and approvals that are specific to the stage of development that is being undertaken. The special skills focus on deciphering local approval codes and timelines. Students are also expected to provide examples of approvals and permits they have encountered.

Learning Objectives and Outcomes

  • Understand the natural tension that exists between approvals, permits, and various agencies.
  • Understand that the approval process is complex, with numerous agents and agencies.
  • Identify communication and negotiation techniques of the approvals/permits process.
  • List and define the various types of approvals and permits needed at the federal, regional, state, local, and private level.

December 1, 2016

Improvements

Time: noon - 2 p.m. (Eastern Standard Time)

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This module emphasizes that all improvements must be planned, designed, engineered, constructed, maintained, and renovated or replaced. Each stage of development requires improvements to be addressed in a different way. The special skills section compares design-bid-build and design/build models, and promotes student discussion with two class exercises.

Learning Objectives and Outcomes

  • Define “Improvements” in the broadest sense
  • Articulate the sub-tasks of physical improvements
    • Plan and Design
    • Engineer
    • Construct
    • Maintain
  • Differentiate between Design-Bid-Build and Design-Build models

December 8, 2016

Transportation and Accessibility

Time: noon - 2 p.m. (Eastern Standard Time)

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This module discusses location, location, and location issues in terms of off-site transportation systems and on-site accessibility requirements. The special skills section discusses how a developer gets paid including a simple promotion strategy.

Learning Objectives and Outcomes

  • Differentiate between transportation and accessibility improvements
  • Explain the challenges of integrating new transportation systems into existing systems
  • List and define accessibility issues on-site and inside buildings
  • Understand the importance of life-safety networks and systems.
  • Articulate how a developer gets paid using various payment and financing structures

December 15, 2016

Sales and Disposition Tasks

Time: noon - 2 p.m. (Eastern Standard Time)

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This module discusses the disposition tasks that include the seller’s due diligence, sales contracts, pre- and post-closing conditions, and seller-financing opportunities. Various sales contracts are presented, with a discussion of strategies using two class exercises.

Learning Objectives and Outcomes

  • Define seller’s due diligence
  • Explain a disposition strategy
  • List important features of a sales contract
  • Analyze the pros and cons of seller financing
  • Explain post-closing conditions and concerns

Education Credits

Education Credits

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Advanced Development Practices is approved for the following Education Credit:
16 hours credit toward the Certificate of Advanced Study in Commercial Real Estate Development.

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16 AIA/CES Learning Units
16 Professional Development Hours (PDH)
1.6 Continuing Education Units (CEUs)

Course Objectives

Course Objectives

  • Define and explain the eight sets of tasks that are required in each stage of development.
  • Define and explain at least two sub-tasks in each major task set.
  • Understand why each task must be address even if the developer decides to undertake multiple stages of development.

Tuition & Register

Tuition & Register

Payment for a NAIOP online course entitles access for one person only to the course and all materials.

Course Tuition

  • Member: $795
  • Nonmember: $995
  • Developing Leader: $595
  • Student Member: $95
  • Student Nonmember: $145

How to Register

  • Register online
  • Fax: Complete the PDF form and fax to 703-904-7003
  • Mail: Send check payments to: P.O. Box 333354, Chantilly, VA 20153
  • Register over the phone/questions: 800-666-6780

Confirmation

All registrations processed online receive an automatic order confirmation and receipt. If you register via fax, mail, or phone, a receipt must be requested by contacting education@naiop.org.

Login instructions to access the online course are sent under separate cover from customercare@gototraining.com, approximately 1 week before the first class. If it is less than one week until the start of the course and you have not received the login instructions, please check your spam folder. If the login email is still not there, please contact the NAIOP Education Department.

Cancellation Policy

All cancellations must be in writing. Cancellations of registrants received after September 28, 2016, will be charged a fee of $100 per attendee. Cancellations received after October 12, 2016 will forfeit the registration fee. No refunds will be made for no-shows. Substitutions are permitted until October 11, 2016. Nonmembers substituting for members will pay the difference in fees. Cancellation/substitution notices should be sent to education@naiop.org or faxed to 703-674-1471.

FAQs

FAQs

What does tuition cover?

Payment for a NAIOP online course entitles access for one person only to the course and all materials.

Is there an online instructor?

Yes, there is a live instructor presenting each class. Students are able and encouraged to engage and interact with the instructor and each other.

How much out-of-class work is required for each course?

Courses offered online require no more than one hour per week of additional work outside of the scheduled class times.

What if I miss a scheduled class?

If a student misses a class, all materials and a recording of each class is posted in the material library for the student to review before the next class. A student must attend a minimum of 75 percent of the classes to receive credit.

Do I have to take an exam?

Course exams are not required unless you are enrolled as a candidate for the Certificate of Advanced Study in Commercial Real Estate or the Certificate of Advanced Study in Real Estate Finance.

What records are kept of my coursework?

The Center maintains records of all the coursework you complete, as well as optional exam scores, in a confidential transcript. Transcripts are available to candidates upon request. Please contact education@naiop.org.

What are the computer requirements?

The interactive sessions will be accessed via GoToWebinar.com.

Please use the list below to determine if your computer meets the minimum requirements recommended to participate in the online courses:

To attend on a PC, the following is required:

  • Internet Explorer® 6.0 or newer, Mozilla® Firefox® 2.0 or newer (JavaScript™ and Java™ enabled)
  • Windows® 2000, XP, 2003 Server or Vista
  • Cable modem, DSL or better Internet connection
  • Minimum of Pentium® class 1GHz CPU with 512 MB of RAM (Recommended) (2 GB of RAM for Windows® Vista)

To attend on a Mac®, the following is required:

  • Mac OS X 10.4 (Tiger®) or newer
  • Safari 3.0 or newer, Firefox 2.0 or newer (JavaScript™ and Java™ enabled)
  • Cable modem, DSL or better Internet connection
  • Power PC G4/G5 or Intel processor (521 MB of RAM or better recommended)

Participants wishing to connect to audio using VoIP will need a fast Internet connection, a microphone and speakers (a USB headset is recommended).

Contact Barb Parnarouskis at barbp@naiop.org for more information.