University at Buffalo’s MS Specialization in Real Estate Development: Equipping Professionals to Answer the “Big Questions” By Sternberg and Foerster

What makes urban innovation districts and mixed-use developments viable? How well are collaborative, open office layouts working? Now that the “new normal” in retail is omni-channel sales, how can shopping centers flourish, and what can be done to re-purpose “dead malls?”  What are the implications of artificial intelligence on construction management? What are the best strategies for developing and investing in housing? These and other “big questions” present challenges and lucrative opportunities for real estate developers and investors. They are also integral to the 2015 launch of a new graduate course of study in real estate at the University at Buffalo, which will prepare aspiring professionals to move up in an increasingly complex industry. Over its history, the real estate industry has been led by many people who got into the business for family reasons, or when an unanticipated opportunity led to a career change.  For many, learning an expertise in real estate development and finance, and answering some of the “big questions,” meant getting on-the-job training. Today, real estate is more sophisticated, and like other professions, increasingly requires specialized degrees for career success. The work of real estate developers and investors requires comprehensive, multidisciplinary knowledge; having strong analytical skills is essential, as well as the ability to collaborate with architects and other professionals. A part of the University at Buffalo’s School of Architecture and Planning, this program is the first master’s-level program in real estate development in the State University of New York system – and the first in any state university in the Northeast U.S. It brings together faculty thought leaders and highly experienced executives and entrepreneurs for a focused curriculum. Historic preservation, inclusive design, construction management, finance and investment, structuring real estate deals and transactions - UB has that and much more. And we are in Buffalo, a robust learning laboratory, with affordable housing and vibrant culture. Compare UB’s educational ROI to that of any other great university - your investment wisdom will be seen first with your educational choice. Having a bachelor’s degree in any subject can open the door to a rewarding and life-changing education in as little as three semesters, and for those already in the field, can put you on a fast track to move up in a dynamic profession. Get the skills to answer the “big questions” and take your career to new heights. Ernest Sternberg is a director and Mark Foerster is a senior fellow, real estate development, University at Buffalo, Buffalo, N.Y.