The high demand for real estate knowledge and expertise by undergraduate students at the University of Arizona can now be met thanks to the new Minor in Real Estate Development launched by the College of Architecture, Planning and Landscape Architecture this fall. UArizona does not offer a major in real estate development.
The six-course, 18-unit minor will prepare students to create and sustain value across multiple types of firms within the real estate industry. Students who complete the minor will be prepared to work at a variety of real estate firms across an array of sizes and asset classes. They will learn from award-winning practitioners and thought leaders through cases, presentations, projects and networking events.
“We believe that real estate development is one of the key components to a healthy and diverse local economy,” says Allyson Solomon, executive director of the Metropolitan Pima Alliance. “Development is an incredibly rewarding and complex industry choice and the minor will give students the head start they need to be more competitive in the industry upon graduation.”
Jane McCollum, general manager of the Marshall Foundation, agrees: “We strongly support the University of Arizona offering all students the opportunity to minor in real estate, which is a major industry and job provider in our community.”
The minor—which will be of particular interest to students majoring in architecture, economics, finance, landscape architecture, law, marketing, mining, civil engineering, urban and regional development and sustainable built environments, among others—not only meets strong student demand, but industry demand, as well. Significant employment growth in Arizona and nationally is expected in the real estate industry over the foreseeable future, even with the economic challenges of the current pandemic.
The five-course core of the new program builds fundamental skills at the beginning of a student’s trajectory in the minor—providing introductions to major concepts, strategies and empirical analytical techniques in residential and commercial real estate. It also confronts major issues in the property markets, including sustainability and resilience. Core courses include Introduction to Real Estate—a popular course offered for the first time this fall—plus Introduction to Real Estate Finance, Survey of Responsible Real Estate Development, The Land Development Process and Professional Project for Real Estate Development.
“The Minor in Real Estate Development gives students the edge they need to be active players in the future of exceptional place making,” says Lauri Macmillan Johnson, director of the School of Landscape Architecture and Planning, which oversees the minor for CAPLA.
Students in the minor are required to take at least one elective, which facilitates student curiosity in complementary subject areas. While the core courses are offered by CAPLA, elective possibilities range from entrepreneurial leadership to construction engineering, economic geography to urban public policy, and are offered by colleges across the university.
“Over the last several years, evidence of demand for a real estate minor has been growing,” says CAPLA Dean Nancy Pollock-Ellwand. “CAPLA and the School of Landscape Architecture and Planning—with our leading real estate development, sustainable built environments and urban planning programs—are uniquely situated to offer this program so that students not only learn about real estate development, but about responsible development. We look forward to the program’s success under such esteemed faculty as James Brian Marian, adjunct lecturer in real estate development, Gary Pivo, professor of real estate development and urban planning, and Arthur C. Nelson, professor of urban planning and real estate development.”
Learn more about the Minor in Real Estate Development at capla.arizona.edu/realestate-minor.