Real estate development is a high-risk, high return business. Professionals must navigate changing business cycles, adaptations in design and functionality, a growing interest in sustainability, and variations in investment structures.
AUBURN UNIVERSITY INSTITUTE FOR REAL ESTATE DEVELOPMENT
HARBERT COLLEGE OF BUSINESS | COLLEGE OF ARCHITECTURE, DESIGN AND CONSTRUCTION
REAL ESTATE DEVELOPMENT IS A HIGH-RISK, HIGH- RETURN BUSINESS. PROFESSIONALS MUST NAVIGATE CHANGING BUSINESS CYCLES,
ADAPTATIONS IN DESIGN AND FUNCTIONALITY, A
GROWING INTEREST IN SUSTAINABILITY, AND VARIATIONS IN INVESTMENT STRUCTURES.
As the scope of client needs change, and a global economy demands greater innovation, increased technology, and more sophisticated solutions, REAL ESTATE DEVELOPMENT AND INVESTMENT HAS BECOME ONE OF THE WORLD’S FASTEST EVOLVING FIELDS. From shopping malls, hotels, and warehouses to data centers and office buildings, functional obsolescence – or the decrease in a property’s desirability or functionality due to outdated design – is changing the way the industry addresses its future. The field now requires a multi-disciplinary approach to education bringing together the expertise of design, construction, finance, marketing, accounting, and other disciplines. Drawing on the strengths of its Harbert College of Business and College of Architecture, Design and Construction, Auburn University is now poised to help the industry meet the demand for expanded real estate education, innovative research, and continuing education for industry professionals through the creation of a new Institute for Real Estate Development.
INDUSTRY RESEARCH AND EDUCATION ELEVATING A RENOWNED PROGRAM Building on the foundation of Auburn’s Master of Real Estate Development program (MRED) program, Auburn’s new Institute for Real Estate Development (the Institute) will be a world-class institute designed to bring greater expertise, professionalism, training, and talent to the industry. Advancing and supporting real estate development and investment education at both the undergraduate and graduate level, the Institute will elevate Auburn’s existing program by: • Attracting top students and providing a real-world, practical education that develops tomorrow’s leaders in real estate development and investment • Fostering industry-relevant research to inform best practices, including creating and disseminating expert analyses, market forecasts, and other empirical studies • Supporting professional development and continuing education for industry practitioners through access to up-to-date learning methods, experienced instructors, and leading professionals from across the industry • Emphasizing programming on topics and issues that lie at the intersection of real estate and technology • Providing sector-specific courses and certificates designed to advance practicing professionals
MCCLAIN TOWERY ’03, ’14 After graduating from Auburn with a bachelor’s degree in civil engineering, McClain spent a decade in land design and development before starting Towery Development in 2012, a company focused on urban core real estate development and investment projects. He began pursuing a master’s degree from Auburn’s MRED program at the same time. He graduated in 2014 at the top of his class and is currently on Auburn’s MRED Alumni Council and Advisory Board. “In short, Auburn’s MRED program provided me with confidence. Leveraging my knowledge as a civil engineer and my experience in land design, the MRED program positioned me to take on new development ventures from the business side, creating a portfolio of innovative real estate holdings. A new Institute of Real Estate Development will guide Auburn to the forefront of the industry on a national and international scale.”
Utilizing cross-disciplinary teams of faculty and industry professionals, the Institute will provide professional and continuing education to address the growing need for industry practitioners to continuously develop their business mindset, skills, and knowledge. With a national focus on multiple real estate sectors and the integration of design and capital, the Institute will bolster the industry by setting a new standard of excellence in mission-critical areas. The Institute has three overarching pillars, including:
Exceptional Real Estate Education As the industry becomes
Thought Leadership For Industry
Professional Development And Continuing Education The Institute will support the industry’s growing need for students and practitioners to employ an appropriate set of professional standards of practice and to abide by a strict set of ethical guidelines by: • Providing professional development courses, certificate programs, and continuing education credit opportunities for real estate practitioners • Producing and disseminating timely and valuable real estate
Changing real estate trends and fluctuating markets are creating a demand for professionals who can navigate a new level of sophistication. The Institute will assist practitioners in understanding advances in technology, increased capital, global banking, and multiple cultures and languages by: • Serving as a premier source of thought leadership for the real estate industry • Conducting and disseminating authoritative real estate research and expert analysis • Providing real estate students, faculty and practitioners opportunities to network and learn through an expanded City Builders Symposium, speakers/panel discussions, market forecasting forums, and multi-day conferences
more complex, it is critical for professionals to have a well- rounded education and real- world knowledge that equips them to understand and address the emerging challenges and developments in the field. The Institute will support real estate education at Auburn by: • Recruiting highly qualified students • Providing innovative teaching inside the classroom and high- impact learning experiences outside the classroom • Connecting students and real estate faculty to accomplished real estate practitioners • Offering students and alumni real estate career development
education through short discussions, lectures and/ or interviews through such platforms as blogs, podcasts, and other social media
services, mentoring, and networking opportunities
AN INDUSTRY HUB
A VISION TO ADVANCE AN INDUSTRY PARTNERS FOR THE FUTURE
A central focus of the Institute will be the invaluable transfer of knowledge from leading real estate developers to students and other industry professionals. Rapidly becoming one of the premier events for people in the industry in the mid-south region, Auburn’s CityBuilders Symposium is a conference and networking event that capitalizes on the experience and expertise of leading professionals. Through sessions, panel discussions, and webinars that bring experts together, participants learn insights and best practices for economically sustainable development projects that better benefit communities. These shared learning opportunities benefit not only students and alumni of Auburn’s Master of Real Estate Development program, but also real estate professionals throughout the region.
Auburn has the necessary components to create one of the nation’s top real estate development programs. The university has secured a lead gift to establish the Institute. An additional $5M in support from individuals and companies will propel this initiative to a best-in-class, nationally recognized real estate institute. There are multiple ways to invest in the Institute, including the following naming opportunities: $2 million As one of the Institute’s premier programs, CityBuilders will continue to grow, creating an increased need for additional funding to expand in areas of importance to the real estate industry. Ongoing support will allow the symposium to become a multi-day conference serving thought leaders and practitioners throughout the real estate field. Named Executive Director $1 million Named CityBuilders Symposium This position will lead and direct the overall operations and strategic planning of the Institute. Representing the Institute and Auburn to practitioners, stakeholders, alumni, and students, the executive director will recruit for the program, manage memberships, and work closely with staff to plan and execute conferences and events. Named Academic Director $500,000 Serving as a liaison between the Institute and real estate academic programs at Auburn, the academic director will lead and facilitate the expansion of professional development and continuing education offerings. Initially, the faculty director of the MRED program will serve as academic director until the duties of this role grow beyond a single position.
Named Administrative Director $500,000 The administrative director will be a seasoned academic staff member who understands the internal operations and processes of Auburn. This position will lead day-to-day operations, manage budgets, supervise staff, and work with the executive director in planning and executing events. Named Market Forecasting Forum $500,000 To fulfill its vision to provide relevant, leading-edge education and research to the real estate industry, the Institute will present a forum to disseminate authoritative research and expert analysis, market forecasts, and other empirical studies for industry practitioners. Named Endowed Professorships $300,000 Endowed faculty positions help recruit and retain top faculty members. These endowments support real-estate education, professional development, and thought leadership for Auburn students and real-estate practitioners. Named Scholarships and Fellowships $50,000+ Endowed scholarships and fellowships help recruit and retain outstanding students to the real estate minor and to a curriculum centered on real estate. Fellowships allow graduate students the flexibility to focus on practical research and case studies, supporting the Institute’s vision to prepare exceptional leaders for industry. Named Funds for Excellence $50,000+ Endowed funds for excellence generate vital income for programs and initiatives, creating a dependable source of funding for years to come. These resources provide for ongoing current and future operations, as well as emerging opportunities that enable the Institute to grow and expand.
Your investment in the Auburn University Institute for Real Estate Development will enable us to leverage pioneering programs, executive education, research opportunities, and more to inform industry in new and innovative ways. We invite you to help Auburn create a leading institute poised to address the changing needs of real estate development and investment by preparing graduates and industry professionals to plan, finance, and build economically sustainable developments that enhance the way people work, live, and play in their communities. THE POSSIBILITIES ARE ENDLESS.
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