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M.S. in Real Estate Development

Why Study at NSU?

Real estate markets are complex, dynamic, constantly evolving, local and increasingly global. Success demands leaders who understand all the facets of commercial real estate, are knowledgeable, skilled and ethical professionals who can create value by visioning new opportunities that are financially, socially, and environmentally sustainable.

NSU's program is one of the country's most comprehensive master's level real estate university programs. The program offers the essential courses in real estate so students gain an in-depth understanding and learn the skills required for success and leadership in the industry. Unlike M.B.A. degrees which offer real estate concentrations, NSU's program is focused exclusively on core courses, real world learning and projects that develop the industry's future leaders.

NSU's M.S. in Real Estate Development (M.S.R.E.D.) program prepares graduates to undertake mid and senior level responsibility in development, management, investment and sales and marketing firms. Graduates enter the industry as emerging leaders knowing how to locate and analyze the diverse aspects of real estate from legal, economic and financial considerations to political and regulatory requirements. The rigorous program is taught in an "Executive" format. The full immersion curriculum is taught by highly experienced leaders with in-depth knowledge gained from years of actual experience. Classes, in-field case studies and real world projects from noted professionals focus on providing hands-on applications of practical knowledge that can be immediately used. Program graduates provide significant added value to their companies.

The Master of Science in Real Estate Development is one of the innovative professional programs taught by Nova Southeastern University's H. Wayne Huizenga College of Business in Fort Lauderdale.

Graduates enter careers in development, entrepreneurship, finance, investment, banking, asset management and other fields within the industry. The program emphasizes the cornerstone disciplines finance and investment with particular focus on:

  • Urban and suburban redevelopment
  • Economical and Environmentally sustainable real estate
  • Entrepreneurship in small/mid-sized real estate companies

The Office of Enrollment Services
Ask to speak with an Admissions Manager
954-262-65067
info@hcbe.nova.edu

Program Director
Dr. Fred Forgey
954-258-3630
fforgey@nova.edu

Learn more about the curriculum, faculty, software, and employment opportunities available to participants in the MSRED program.

Information Sessions

NSU's M.S. in Real Estate Development program builds industry leaders by preparing graduates with the multidisciplinary knowledge and tools to succeed in real estate development, investment, finance, management and marketing. Graduates learn core knowledge and advanced application skills to locate and analyze property, determine the physical, market, legal and political parameters and create viable financial, development and management structures. The program knits a close relationship between students and industry leaders at regional and national levels, through executive mentorships, participation in professional programs and networking.

Graduates can expect to build an extensive network of regional and national professional contacts within the industry among other students, alumni and professional networks. Students come to NSU from across the nation, the Caribbean, Latin America and Europe.

South Florida as a Classroom

NSU's master of real estate program immerses students into the profession using South Florida's dynamic market as a living urban laboratory. The program provides in-field studies of developed projects with their developers detailing lessons learned about what worked, what did not, and why. Throughout the degree program, industry leaders in finance, banking, construction, design and development, management and marketing meet with students in class and on-site to talk about the issues and challenges of their specializations - from sustainable "green" development to investment trends and new product opportunities. Learning from leading professionals enables students to clearly understand an industry that is at once local, but essentially the same no matter the location. It also highlights the diversity of career opportunities, specializations and companies available for possible career paths.

Starbucks Coffee location from MS RED field study

"The hands-on projects and case studies provided throughout the program increased my use of real estate terminology, as well as my comfort to interact on a professional level with highly skilled industry executives."

Ben Boies, M.S.R.E.D. Alumnus

"As a member of the Advisory Board, I am pleased to be associated with such a high caliber program that provides students with a solid academic education as well as 'hands-on' field experience."

Gloria Fernandez, Advisory Board Member, Elion Partners

Photo of MS RED field study at Lincoln Road in South Beach
Photo of South Beach shopping center from MS RED field study

"Each case study provides a rare opportunity to get an insider's glimpse into the project's history, details, and development from the project's players who led the effort to overcome project-specific challenges and macro-level economic issues and deliver an exceptional product to the market."

Kelli Nelson, M.S.R.E.D. Alumna, Centerline Homes

Careers

NSU graduates find rewarding careers in a variety of industry segments including finance, development, sales and marketing, consulting, investment and banking. Graduates find placement in firms ranging from small entrepreneurial development companies to national portfolio managers. The program strives to provide graduates with a strong combination of skills in finance and development to give them a competitive advantage. As the industry grows more complex NSU's graduates are highly valued because they can understand, analyze, value and manage existing assets as well as create opportunities for new investment.

Students and graduates are expected to seek and pursue firms with whom they wish to work. A student's career planning begins at enrollment when each entering class is placed into NSU's active alumni network and South Florida's dynamic industry organizations. Faculty members expect to assist students with making contacts, career counseling and interview preparation. Year-long professional mentorships with members of the program's Advisory Board help students by pairing them with a seasoned industry leader who will work one-on-one with them to help establish their career goals while advising and mentoring on leadership qualities.

A selected list of companies NSU M.S.R.E.D. graduates work includes: Stiles Corporation, Flagler Development, Apple, GE Capital, Soverign Bank, Starwood Capital

Internships

Internships provide students with valuable professional experiences that prepare them to enter or advance in the industry. The program works with a diverse array of development, financial, marketing and consulting firms as well as agencies to provide paid and unpaid internship opportunities within key segments of the industry.

Representative internship sponsors include: Flagler Development Company, Continental Real Estate Company, Silver Companies, Stiles Corporation, Lauderdale Lakes CRA, South Florida Regional Planning Council, Town of Davie

Recruiting

NSU's Real Estate Program offers employers easy and effective recruiting tailored to suit the needs of recruiters and companies. We are able to accommodate whatever schedule meets your individual recruitment needs.

Jobs E-blast. Send us your job and we will email it to all of our students and alumni for your company. NSU encourages employers to advertise job opportunities on through the M.S.R.E.D. jobs e-blast at no cost. The Jobs E-blast provides a resource to facilitate the search process with a free job posting source that generates a talent pool of enthusiastic, knowledgeable and skilled applicants

Resume collection and interviews. Provide your requirements and we will arrange to collect resumes and organize interviews of your candidates. The program offers employers the use of interview rooms with multiple cameras and recording features. Interviews may be broadcast live or recorded and uploaded for remote access and viewing. NSU's M.S.R.E.D. students are encouraged to cultivate a portfolio of their work to provide employers with an immediate understanding of their capabilities, communication skills and analytical understanding of the industry.

On Campus Recruiting. We will assist with all aspects of on-campus recruiting, from arranging interview rooms, food service for receptions, guest speaker engagements or a showcase of your company.

Internships. While many NSU students are already in a career, internships are a value added experience for many to gain additional insight into specific aspects of the industry. We will post openings and solicit students to fill professional internship requests.

"While the program addresses and exposes students to leading and emerging industry topics, it is the classmates, faculty and advisory board members involved with the M.S.R.E.D. program that truly makes it rewarding both personally and professionally. The fostering of friendships and business relationships will carry on far beyond graduation."

Kelli Nelson, M.S.R.E.D. Alumna , Centerline Homes

Field Studies

A significant part of NSU's program uses South Florida's dynamic market as a living urban laboratory. As a world-gateway city and international and global business center for banking, trade and investment operations from Europe, Asia and South America, the program teaches best practices and lessons learned from significant developed projects in its Field Studies component. Students view first-hand innovative projects and hear what it took their developers to accomplish the project and why - or why not - it was successful.

The Field Studies program puts students with industry leaders from finance, banking, construction, design and development, management and marketing on-site to talk about, see and understand the issues and challenges of their specializations with specific projects - from sustainable development to new products. Learning from professionals on-site enables students to clearly understand the critical aspects of making successful real estate developments. It also highlights the diversity of career opportunities and specializations as well as puts students in front of company leaders for job opportunities.

Fifth and Alton Field Case Study

Fifth and Alton Case Study Fifth and Alton Case Study Fifth and Alton Case Study Fifth and Alton Case Study Fifth and Alton Case Study Fifth and Alton Case Study Fifth and Alton Case Study Fifth and Alton Case Study

Lincoln Road and Spanish Village

Lincoln Road Field Case Study Lincoln Road Field Case Study Lincoln Road Field Case Study Lincoln Road Field Case Study Spanish Village Field Case Study Spanish Village Field Case Study Spanish Village Field Case Study Spanish Village Field Case Study

Executive Mentor Program

Students enter the mentorship program after completing several classes and maintaining a 3.0 average. Often after graduation mentors and mentees frequently maintain long-standing personal friendships throughout a student's professional career and serve as superior references during job searches.

Students enter the mentorship program each October and conclude the following September, often after graduation mentors and mentees frequently maintain long-standing personal friendships throughout a student's professional career and serve as superior references during job searches.

The Executive Mentorship program wields student experiences from inside and outside the classroom to professional ethical understanding of the role of real estate leaders in business and the community in which they work.

Most program mentors are drawn from NSU's Real Estate Advisory Board which comprises a diverse background in the leading segments of the industry - from residential, commercial, retail and industrial development to finance and investment, law, design and construction, to sales and marketing - for students to be mentored.

"One of the most rewarding parts of being a member of the Advisory Board has been the opportunity to meet with the students and better understand their interests and challenges as aspiring real estate professionals. Whether at a reception, field study or lecturing in the classroom, the personal involvement of local professionals in the program distinguishes the M.S.R.E.D. at Nova from many others." --Debbie Orshefsky, Advisory Board Member

Real Estate Competitions

Real world application of the skills and knowledge learned in class and in the field is a powerful tool. Program students are offered the opportunity to compete in the South Florida NAIOP Collegiate Challenge, a development competition that provides unique and valuable industry exposure to students in a competitive and realistic environment. The Challenge fosters team building and leadership skills in addition to providing exceptional exposure and real-world experience. The Challenge presents an actual problem facing a developer. NAIOP supplements faculty with architectural and other technical support to help the teams operate as they would in professional circumstances to arrive at solutions. Teams from other graduate real estate programs compete against each other, presenting their proposals in both professional report form and in-person to a Who's Who in South Florida panel of distinguished industry leaders. The winning school team receives the traveling NAIOP Challenge trophy. Judging is based upon problem definition, clarity of communication, analytical methods, creativity and thoroughness, as well as the Team's ability to defend their proposal with in-depth questioning.

2012 Competition Preparation Photos

2012 NAIOP Collegiate Challenge 2012 NAIOP Collegiate Challenge 2012 NAIOP Collegiate Challenge

2010 Competition Photos

NAIOP Collegiate Challenge NAIOP Collegiate Challenge NAIOP Collegiate Challenge NAIOP Collegiate Challenge NAIOP Collegiate Challenge NAIOP Collegiate Challenge NAIOP Collegiate Challenge NAIOP Collegiate Challenge

In 2010 teams from NSU and the University of Miami faced off in the 1st South Florida NAIOP Collegiate Challenge, held at Nova's Huizenga College of Business. The problem was a development case provided by Flagler Development Corporation at Miami's Government Center Metrorail station. Flagler has owned the 8.8 acre site, Miami's former FEC Railroad station, since 1894. The objective was how to unlock the land value with new development. NSU's student team generated and submitted a detailed concept and financial plan to the panel and an audience of more than 200 guests. The M.S.R.E.D. Program team ultimately took home the traveling trophy.

NSU MSRED wins South Florida NAIOP Challenge
  • Multidisciplinary immersion curriculum
  • Faculty who are leaders and highly experienced real world experts
  • Hands-on case studies of actual South Florida projects - America's laboratory of innovation in real estate
  • Mentorship by NSU's Real Estate Advisory Board of industry leaders
  • Training in CoStar, ARGUS, communications and graphics programs
  • Advisory Board committed to national program advancement
  • Paid membership to national real estate organizations and industry leaders
  • MSRED Alumni association
  • Concierge career advising
  • Study tour
  • Certified Commercial Investment Member (CCIM) University Fast-Track Partner

The M.S. in Real Estate Development program's forty-credit (40) curriculum is offered in a lock-step, executive format, designed to accommodate both full-time working professionals, and full-time students.

The M.S.R.E.D. degree at NSU is a 12-month program with tuition costs of approximately $35,000. The program starts in January or August and classes meet in Fort Lauderdale on all day Saturday or Tuesday & Thursday evening.

Class sizes provide the opportunity for one-on-one attention and a high degree of interaction with the faculty and Advisory Board members. Courses stress the importance of both individual and team projects which reflect real-world approaches to business operations, problem solving and solutions. Students take part in diverse project assignments designed to teach and sharpen essential written and oral communications skills, develop concise and impactful visual and media presentations, and develop clear financial analytics. Individual research assignments allow students to explore a wide spectrum of personal interests and leading edge industry trends.

Industry professionals and Advisory Board members actively participate in all classes, presenting case studies of actual projects and serving as panel members evaluating individual and team projects. Both professionals and Advisory Board members guide students by providing feedback on their presentations along with solid "how to" advice.

Schedule of Courses

MSRED Program Courses
REE 5862 Real Estate Market Analysis
REE 5864 Real Estate Development Software
REE 5865 Real Estate Construction Principles
REE 5868 Real Estate Development e Portfolio
REE 5878 Real Estate Development: Part I
REE 5879 Real Estate Development: Part II
REE 5880 Real Estate Finance
REE 5881 Real Estate Law and Ethics
REE 5882 Land Use Planning & Project Design
REE 5884 Land Use Regulation
REE 5890 Real Estate Accounting
REE 5894 Real Estate Capital Markets
REE 5887 Real Estate Investments
REE 5866 Real Estate Special Topics  

Additional Work:

Argus Enterprise Training
Microsoft Project Pro Training
DProfiler Training

  • No foundation courses required

Full-Time professionals are available to discuss the M.S. in Real Estate Development curriculum with you in greater detail. Simply call 800.672.7223 Ext. 25168 or contact our Enrollment Services Staff.

Course Descriptions

Student Cruise to Cuba

Cuba Study Tour

Over thirty-five Huizenga College of Business and Entrepreneurship graduate students, faculty, and administrators will be travelling to Cuba on board Fathom's Adonia from December 11-18, 2016. The Cruise to Cuba is part of a Cuba Study Tour focused on Entrepreneurship and Real Estate. The students will have discussion sessions with NSU faculty on board the ship as well as faculty from multiple universities throughout Cuba. In addition, they will be meeting with local Cuban entrepreneurs and business owners to discuss emerging opportunities. President George Hanbury Will be joining the group on this 1st Annual Academic Study Tour of Cuba.

The all-inclusive price for the December 11-15, 2017 Cuba Study Tour is only $1125 plus tuition for 3-credit hour elective course (ENT 5966 – Special Topics in Entrepreneurship). Entrepreneurship MBA students will receive first priority in reservations. For more information, contact Dr. Thomas Tworoger at tworoger@nova.edu (or) Dr. Fred Forgey at fforgey@nova.edu.

You can read a firsthand account of the experience with this student's blog from December 2016 below:

You can read a firsthand account of the experience with this student's blog below:

Cuba trip blog

http://www.thegemwithin.com/blog/cuba-the-trip-that-changed-everything

Real Estate Masters of Science - Study Tour 2014

When studying Real Estate Development at Nova Southeastern, students have been given the opportunity to meet with many industry professionals to include a study tour abroad. This year (Fall-2014) the tour encompassed a cruise aboard Carnival Cruise Line- Freedom, in the Western Caribbean that boarded off the coast of Ft. Lauderdale, FL. and visited Key West, FL, Grand Cayman, Cayman Islands, and Cozumel, Mexico. It also included a general tour of the ships exhibiting sustainability efforts and their responsibility to comply with regulations at each port. The study tour aimed to expose students to sustainable development, environmental ethic and practices as they relate to real estate development. Individually, locations had their own approach or contribution to the fabric of their social awareness of sustainability and economic growth. Both of which play an important factor in the eyes of investors who seek out these locations to "park" their moneys.



Key West Tour

Key West

The first destination in Key West was to its historic town hall where their sustainability coordinator presented innovative solutions to an out dated comprehensive plan over 10 years old. The new measures being put into place green initiatives that educated the community, aided in the preservation of natural resources and directed the growth of its community in a sustainable way. It may seem like the norm in our local communities to see green initiatives in form of regulations but Key West has a particular need for these efforts in order to do day to day things. Because of their dependence of the mainland (FL), Key West has to budget their water consumptions and to draw from reserves incurs a higher cost. The water they have access to is caped at a certain point and to sustain any more development that would require an increased water demand would require the developer to allocate their own resources.

Key West Tour

Historically, water infrastructure was not as developed as it is today and those who owned land also had to be self-sufficient in this aspect. They capture water in cisterns that in fact still are in use today. This was true on the tour of a cistern used for irrigation at Casa Marina, A Waldorf Astoria Resort. The hotel's Chief Engineer was kind enough to open the doors to his operation of the water cistern and its treatment process. It had only one point of entrance after being closed off by the expansion of the hotel. Although they have access to public water, this system provided water for irrigation as well as for fire sprinkler reserves.

Key developers tried to create master plans once the military had decided to leave the space they had occupied. The vision for a sense of place was carried out through standards for construction in the smallest of details that are evident today. Walking the streets of Key West would leave this study tour with a deep respect for preservation, sustainability, and a duty to re-develop spaces into something for everyone to enjoy.

Grand Cayman, Cayman Islands

Cayman Islands Tour

For a small Island such as Grand Cayman, there are many regulations to comply with as a developer. Interestingly enough, the Environmental Agency had a contrasting opinion to this concept. They felt that little importance was given to the ecology and sustainability efforts. These standards were not required for development.

After sitting down with Joseph Imparato, a long-established real estate developer in Grand Cayman, it was clear that despite the encouraged development, neighborhood oppositions had put one major project to rest. Mr. Imparato had elaborate plans for the development of a port that would stimulate the economy but it never went beyond planning stages. To his benefit, a renowned heart surgeon form India proposed to bring in a hospital on that very same land the port would have occupied. Displayed in the conference room where we met with Mr. Imparato were several site plans. One of these was of the "medical truism" - Health City, it is now underway with its hospital in place, also a site destination on the tour.

Cayman Islands Tour

Currently, not too many developers could be named on the island. In the case of the Caymana Plaza, a strong hand dominated tenants to move from downtown into this new development almost drying out downtown from its livelihood. Such practices are common and may be the difference between a successful project and a failure.

Cozumel, Mexico

Cozumel Tour

Students teaching students; local students took the time to meet with the study tour to tell a little about what their University had published regarding the environmental tourism preservation initiatives. In Cozumel, environmental tourism preservation is a topic worth studying all on its own because tourism is the greatest driver of their economy. The intent of this visit to the University was to interview Dr. Alberto Gonzales who has published many studies on the sustainability of tourism on the island. Unfortunately he was not available because there were many conferences for sustainability taking place and collaborative studies were being arranged with sister universities. The students on campus had no problem speaking with us on the importance of the program. They informed use that being environmentally friendly was becoming a norm in Cozumel. Recycling was second nature and many loved to commute on bicycles.

Cozumel Tour

Environmental responsibility was in fact a norm all around, but not by default. It was the Iberostar Resort Hotel that first achieved Green Globe standards and had taken on the role to impart knowledge to the locals. Besides the common practices that are found in hotels (such as the re-use of towels and recycling of organic, non-organic and different plastics), the resort is self-sufficient in supplying their own water. All water consumed one way went out the other and was all treated on site.

Carnival Cruise Line - Freedom

As important as the ports were and their effect on the local economic growth, cruise ships are also sustainable developments of their own. They too have regulations to comply with, each port required different sustainability practices. Nothing is over looked, from separation of recyclables to the disposal of treated gray water. Every effort is made to minimize waste. No clean energy is captured on the ship but engine power is reduced when feasible to conserve fuel. Unlike development on land, the ship did not have much of a focus on monetary gains from recycling, the practice is a requirement of international waters. None the less, development along the port for ships such as Carnival Freedom, benefit from the collaboration of its crew, guests aboard the ship, and local governance.

A Valuable Experience

Study Tour

At the Keys, historic preservation was highly desirable by the locals, meanwhile their comprehensive development plan grown out of necessity. The Cayman Islands, has an environmental agency that feels they have little influence on development. Their political stands of low priority for preservation results in a higher focus on development. Cayman locals have a perception that more development translates to more jobs. Lastly, there was Cozumel, a small island off the coast of Mexico whose economy strongly relays on tourism and is small enough that a resort, such as Iberostar Resort, actually teaches the locals how to be environmentally sound because after all, they do live off of the natural resources that attract tourist from all over the world. The one thing that all of these sites have in common are their ports. Because of this, learning about Carnivals' efforts to comply with various port regulation was a key component to understand. Collectively, the visits on this tour framed development in a global standpoint. Interwoven by lasting memories, learning experiences, and a world of opportunities to explore, the tour is a must for any real estate development student.

Admission to the M.S. in Real Estate Development program is competitive and the number of students enrolled is limited to ensure that each student receives personal attention in small classes. Admission is selective and based on work experience and academic record. Work experience in real estate is preferred, but not essential.

The program considers motivation, work experience, professional activities and academic background. Applicants are encouraged to interview with the program director and visit the campus, if possible.

Students with varying backgrounds and undergraduate or graduate studies in finance, real estate, architecture, engineering, management, marketing, law, hospitality and business have successfully completed the Program. Most students have business or professional experience and have familiarity with the real estate industry.

Tuition and Fees

A detailed overview of M.S.R.E.D. tuition and fees can be found here.

Additional Fees and Costs

Books are not covered in the price of tuition.

Financial Support

The Huizenga College of Business offers several scholarships to admitted students. Visit our Scholarships Page for additional information. Additional real estate scholarships can be found in the scholarship section below. All admitted students are encouraged to immediately apply for Financial Aid regardless of need and other general scholarships available at the Huizenga College of Business. For questions regarding financial aid, contact NSU's Financial Aid Office.

Application Requirements

  • A conferred bachelor's degree from a regionally accredited U.S. institution or an equivalent degree for international applicants is required.
  • An overall undergraduate GPA of 3.10 or greater on a 4.00 scale as reflected on official, final transcripts from all undergraduate institutions attended will automatically be admitted. Applicants will automatically be admitted if their undergraduate GPA in the final 60 hours of their enrollment is a 3.10 or greater on a 4.00 scale.
  • For applicants who have earned less than a 3.10 cumulative undergraduate GPA or in the last 60 hours of their undergraduate program, a minimum GMAT (Graduate Management Admission Test) score of 540 or an equivalent GRE (Graduate Record Examination) score may be required.
  • Applicants that have earned a graduate degree from a regionally accredited institution with an overall GPA of a 3.10 or greater will be considered for admission.
  • Work experience will receive favorable consideration and may waive GMAT/GRE requirement for a GPA less than 3.10.
  • Two letters of recommendation from undergraduate faculty familiar with academic work or from employers knowledgeable with professional work experience are optional, but will strengthen your application.
  • An essay of at least 500 words related to career goals and how the M.S.R.E.D. Program is envisioned to further those goals is optional, but will strengthen your application.
  • Phone or in person interview with Director (or Associate Director) of Master of Science in Real Estate Development Program is optional, but will strengthen your application

Required Documentation

  1. Completed Master's Application for Admission and non-refundable $50 application fee.
  2. Official transcripts from all colleges and universities previously attended. The applicant's bachelor degree transcript must show degree conferral date in order to be evaluated for admission consideration. If graduate degree has been earned, the transcript must show degree conferral date in order to be evaluated for admission consideration. Electronic transcripts can be sent to electronictranscript@nova.edu or by mail at:

    Nova Southeastern University
    Enrollment Processing Services (EPS)
    Attn: H. Wayne Huizenga College of Business and Entrepreneurship
    3301 College Avenue
    PO Box 299000
    Fort Lauderdale-Davie, Florida 33329-9905
  3. Other admission documentation may be required, please continue to read below.

International Applicants

To be considered for acceptance into the M.S.R.E.D. program, international applicants must fulfill additional admission criteria.

  1. Are references required?
    References are not required to be admitted to this program but can help strengthen ones application. If an applicant chooses to submit references they should submit two references from credible sources.
  2. What is considered to be "work experience?"
    Work experience means full time employment experiences, preferably in the real estate industry. Experience in finance, sales and marketing, construction, planning, design, development, or law is a plus. A minimum of two years prior work experience is highly desirable and will receive favorable consideration in application review to the M.S.R.E.D. program.
  3. Is the work experience required to be in the real estate industry?
    Not necessarily. Candidates admitted to the M.S.R.E.D. program come from a variety of professional backgrounds and disciplines. The M.S.R.E.D. curriculum is built upon several disciplines, and the scope and dynamic of classroom experience benefits from student diversity.
  4. How are interviews scheduled?
    Candidates will be notified by the Admissions Office when all application requirements other than the interview have been met. If selected for an interview, candidates will be given three specific dates from which to select an interview.
  5. What does the M.S.R.E.D. admissions process seek in an applicant?
    The application process is competitive and based on a thorough review of undergraduate preparation and performance, intellectual vitality, professional promise, work experience, and personal characteristics. Candidates from diverse backgrounds are sought whose past achievements demonstrate creative approaches to addressing professional challenges. Because real estate development is a collaborative and dynamic process, candidates are expected to be innovative and entrepreneurial thinkers.
  6. How do I know that my application has been received and I met all the application requirements?
    Applicants will be notified via email about the status of their application by the M.S.R.E.D. program in the weeks following the application deadline.
  7. Where are application materials such as letters of recommendation and transcripts to be sent?
    When mailing, please send all documents to:

    Nova Southeastern University
    Enrollment Processing Services (EPS)
    ATTN: H. Wayne Huizenga College of Business & Entrepreneurship
    3301 College Avenue
    P.O. Box 299000
    Fort Lauderdale, FL 33329-9905

Welcome to the M.S.R.E.D. Scholarships/Awards section. The purpose of this section is to inform prospective/current students of the various scholarships/awards that are available to them to help them financially to achieve their goals of obtaining an M.S.R.E.D. from Nova Southeastern University. The scholarships sections are broken down into three sections. Scholarships/Awards that are only available to M.S.R.E.D. students, Scholarships/Awards that are available to Huizenga College of Business & Entrepreneurship students and Real Estate Industry Scholarships/Awards that are available to students pursing a graduate degree in real estate.

* Please note that that these scholarships/awards have been compiled from various sources and in event that the source page conflicts with the M.S.R.E.D. Scholarship/Awards page the source page will take precedence with eligibility of the scholarship/Awards.

NSU M.S.R.E.D. Scholarships/Awards

Lori & Seth Wise/BBX Scholarship (BSWE)
Scholarship Amount: $1,000 one-time award
Requirements
  • Must be a graduate student currently enrolled at the HSBE pursing an M.S.R.E.D. degree.
  • Graduate GPA of 3.0 on a 4.0 scale
  • Demonstration of financial need through FAFSA
  • Open to international student (FAFSA not application to international students)
  • Deadline is April 1st
Contact the ESS Scholarship Dept at 954-262-3380

HSBE Scholarships/Awards

NSU Alumni Tuition Award
Scholarship Amount: An award amount of $147.50 per credit from published tuition rates
Requirements
  • Graduate students enrolled in business program at the HSBE
  • Completed Bachelor's degree at NSU
  • Begin master program at HSBE no later than one term after students completed final class for Bachelor's degree
  • At least one course every term for the duration of the Master degree
  • Maintain good academic standing in graduate program
  • Scholarship is awarded every term
  • Please submit information to your academic advisor
  • Open to international students
Contact Wendy Penha, Admissions & Corporate Relations Representative at penha@nova.edu

Graduate Business Student Tuition Award
Scholarship Amount: Up to $6,200 toward graduate tuition
Requirements
  • Completed Scholarship Application
  • Scholarship will be awarded to first time enrolled HSBE graduate students only
  • Scholarship is based on a student's undergraduate performance. Student must have a cumulative GPA of a 3.25 or higher (on a 4.0) scale.
  • Submission of the 500 word essay describing how a graduate business degree will be an asset to you both personal and professional
  • GMAT or GRE preferred
  • Two(2) signed letters of recommendation (1) Personal or Professional and (1) Academic
Contact Wendy Penha, Admissions & Corporate Relations Representative at penha@nova.edu

Real Estate Industry Scholarship Awards

Decisions for these scholarships are made by committee run by each separate organization.

International Council of Shopping Centers (ICSC)
Charles Grossman Graduate Scholarship ($10,000)
Retail Real Estate Diversity Scholarship $2,500

Commercial Real Estate Women (CREW)
CREW- Miami Real Estate Scholarship $1,000-2,500

Pension Real Estate Association (PREA)
Graduate Student Awards totaling $20,000
Robert A Toigo Foundation totaling $10,000

Society of Industrial & Office Realtors
SIOR Scholarship $6,000

Florida Real Estate Commission Education & Research Scholarship
Graduate Scholarship $2,500

Global Diversity Summit
Graduate Scholarship $5,000

Appraisal Institute Education Trust (AIET)
AIET Graduate Scholarship $2,000
AIET Minorities and Women Education Scholarship $1,000

We have provided you an assortment of videos from the classroom, alumni, and case competitions so that you may have an idea of what it is like to be a student in the M.S.R.E.D. program.

2015 NAIOP Collegiate Challenge
M.S.R.E.D. Alumnus Shawn Vann
2010 NAIOP Collegiate Challenge
Real Estate Development Strategy
Real Estate Due Diligence
Real Estate Law & Ethics
SIOR Florida Challenge Grant

Welcome to NSU's M.S. in Real Estate Development program, a master's level degree offered by the H. Wayne Huizenga College of Business and Entrepreneurship.

Our Real Estate program offers an intensive immersion in the core knowledge and skills required for success and leadership in the real estate industry. The Program is focused on applied real-world learning using South Florida's dynamic urban markets in Miami, Ft. Lauderdale and Palm Beach as laboratories of product innovation, inventiveness in design, financing, sustainability and marketing.

NSU's M.S.R.E.D. graduates offer immediate added value to their current firms or those that hire them. The program's practical approach to learning delivers immediately applicable knowledge and skills. Learning based on real-world experiences, with faculty and advisors who are current leaders in the industry who do for their companies every day what they teach in the classroom or in the field. We offer mentorships from renowned industry leaders, networking with a well-organized real estate alumni association, strong connections and immediate immersion into industry organizations such as ULI, NAIOP, and ICSC.

Courses are taught in Fort Lauderdale and on project sites with their developers. Students are active members of ULI, NAIOP and ICSC where they attend a national ULI Fall Meeting and participate in ULI District Council events as well as NAIOP and ICSC programs. The program seeks to match students with value-added internships that enhance knowledge and skills with hands-on application.

We are committed to assisting students succeed in the industry. The program is structured to provide each student with an Executive Mentor for a one-on-one mentorship. Mentors are senior real estate executives who guide mentees with aspects of their personal and professional development.

NSU graduates typically find positions in real estate finance, investment, asset management, development, and consulting with private firms, institutions and government. The program actively seeks employers for student, graduate and alumni recruiting and communicates extensively about the availability of positions. The Alumni Association is also an invaluable network resource.

Graduates arrive at their companies ready and able to make immediate and meaningful contributions. They share an enthusiasm and understanding for the real estate industry based on their core knowledge and skills demanded by today's challenging markets. Their preparation for, and understanding of, the business makes them valuable additions to their organizations. They are the future real estate industry leaders.

We encourage you to learn more about the M.S. in Real Estate Development Program by contacting me or our admissions office to schedule a visit to meet our faculty and students or sit-in on our classes to see if our program is right for you.

Fred A. Forgey, Ph.D.
Director
fforgey@nova.edu

The distinguishing aspect of NSU's M.S.R.E.D. faculty is that all courses are taught by practicing professionals who are leaders in their respective fields. Connecting theory with industry practice is the program's emphasis. Faculty use real-world case studies and projects to teach real estate principals and how to formulate solutions. Our faculty brings extensive industry experience and strong ties to the regional, national, and international real estate communities. Foundations and theory are applied in the classroom using "best practices" instruction that relates knowledge and skill development to immediately usable practical applications.

Dr. Fred Forgey
Director of Real Estate Development Program
fforgey@nova.edu 

Fred Forgey

Dr. Fred Forgey currently serves as the Director for the Master of Science in Real Estate Development Program at Nova Southeastern University. He has directed similar programs at the University of Texas at Arlington and Texas A&M University. In addition, he has served on the faculty at the University of Auckland-New Zealand, University of Texas at Austin, and the University of North Texas. He has also served as the Professor of Real Estate for ORIX Capital Markets, LLC in Dallas, Texas.

His teaching interests have always incorporated a blend of public/private sector approaches to real estate development, finance, valuation, and 

investment. For the past ten years or so, he has led sustainability focused real estate study tours across the United States as well as Costa Rica, Australia, and New Zealand.

His research interests are currently focused on sustainability issues related to the built environment. In the past, his research interests have been primarily focused on governmental intervention and inefficiencies in real estate markets.

He has also acquired, renovated, managed, and sold a variety of commercial real estate properties.

Dr. Thomas Wuerzer
Associate Professor

Thomas Wuerzer

Dr. Thomas Wuerzer is Associate Professor of Real Estate Development and holds a Ph.D. in Regional Development Planning from the University of Cincinnati. He adds additional international and interdisciplinary value to the faculty of the Huizenga College of Business and Entrepreneurship. He is originally from South Germany and earned his Master’s degree in Geography from the University of Bayreuth, Germany, as well as a Masters in Urban Affairs and Public Policy from the University of Delaware.

His in-depth background in Geographic Information Systems (GIS) with about 18 years of experiences bridges his work and research across disciplines. He was the first recipient of the prestigious 4 years CAGIS-Doctoral-Fellowship awarded by the Cincinnati Area GIS Consortium (CAGIS) for which he developed customized and cutting-edge GIS and urban management solutions. CAGIS is nationally recognized for its excellence in GIS-enabled services such as advanced workflow management, application development, and in providing spatial data and effective service delivery.

In “thinking spatial”, he consistently “translates” real world problems into the language of spatial relationship and GIS. In doing so, his current applied research focuses on investigating complex spatial issues supported by geographic information systems (GIS) with in economic development and real estate applications. Recent projects include research on wildfires in Idaho, economic impacts of open spaces and parks, and novel GIS approaches to cycling infrastructure (bike share systems) and behavior. In combining these various research platforms, he serves as co-director of the Florida Climate Institute at NSU.

Within the M.S. in Real Estate Development (MS RED) he is responsible for courses such as REE 5862 Market & Feasibility Analysis, REE5882 Land Use Planning and Project Design, and REE5866 Special Topics in Real Estate and GIS. He serves as the academic advisor to the Real Estate Development Student Association (REDSA).

Steve Ginestra
Adjunct Professor

Steve Ginestra

Steve Ginestra has practiced law exclusively in real estate matters in Broward County, Florida for 42 years. He has been Board Certified by the Florida Bar in the area of Real Estate Law since 1990. His practice has included the representation of institutional and private mortgage lenders, and of individual and corporate real estate developers and investors. He has concentrated on representing borrowers, primarily developers, in commercial acquisition, construction, and permanent mortgage loans, including negotiations, transactions, closings, modifications and workouts.

Steve Ginestra earned a BA degree from Vanderbilt University, majoring in business administration, and a JD degree with honors from Florida State University College of Law.

Tracy H. Lautenschlager 
Adjunct Professor

Tracy Lautenschlager

Tracy H. Lautenschlager practices in the areas of land use, environmental, airport and aviation and construction law. She represents a broad range of private developers in complex interactions with governmental entities, including obtaining entitlements for residential and commercial projects, platting, site plan approvals, land use plan amendments, vacations and abandonments and a variety of other contentious local permitting issues. She has 16 years of experience as an assistant county attorney, where she represented Broward County's regulatory and planning agencies in the areas of comprehensive planning, land use regulations, zoning, code enforcement and environmental enforcement, including litigation in those areas. She also represented the County's Aviation Department as construction counsel for its $600 million expansion program and handled a broad range of matters for the airports, including disputes with adjacent cities, airline lease negotiations, federal and state grant compliance issues, large consulting and construction contracts, an owner-controlled insurance program for construction projects and various tenant and consultant disputes.

Jorge San Miguel
Adjunct Professor
js2195@nova.edu

Joge San Miguel

Jorge San Miguel currently serves as President of The San Miguel Foundation, Inc., where he assumes full responsibility regarding this 501(c) (3) family foundation focusing on fundraising, investment and portfolio management; program selection, delivery and administration; as well as accounting and tax compliance. During his thirty year career Mr. San Miguel was Executive Vice President and Chief Information Officer of Florida East Coast Industries (FECNYSE), heading investment activities for this publicly traded holding company. Following acquisition of the Codina Group he spearheaded the company's strategic planning initiative, developed acquisition criteria, and identified and successfully executed a US $600 million reinvestment program.

As the Chief Financial Officer of Codina Group, Inc., he was responsible for all administrative functions of this leading South Florida based multi-disciplinary real estate development and operating company. There he led strategic initiatives that realigned corporate and support operations; enhanced the corporate IT platform; led contract renegotiations; asset acquisition and sales including extinguishment of debt and redemption of significant outside shareholding and negotiated and led the sale of the company to Florida East Coast Industries.

Mr. San Miguel earned his BS in Accounting/Finance and M.S. in Finance from Florida International University and is a Certified Public Accountant (CPA).

National Industry Groups

The program believes the most effective way to understand and succeed in the real estate industry is to be immersed in its leading professional organizations. A Program requirement is for each student to be an active member of the Urban Land Institute (ULI), NAIOP (National Association of Industrial and Office Parks) and the International Council of Shopping Centers (ICSC). Being an active member of these organizations is a powerful learning method that strengthens knowledge and skills by providing professional forums and events for student participation and networking with industry leaders locally and nationally.

The large and very active local chapters of these professional organizations provide an immediate connection to grow professionally. As members, students receive substantially discounted dues and admission to events and conferences across the state and the nation.

Urban Land Institute

"Founded in 1936, the Institute has members in 95 countries worldwide, representing the entire spectrum of land use and real estate development disciplines working in private enterprise and public service. As the preeminent, multidisciplinary real estate forum, ULI facilitates an open exchange of ideas, information, and experience among local, national, and international industry leaders and policy makers dedicated to creating better places. Members say ULI provides information they can trust and is a place where leaders come to grow professionally and personally through sharing, mentoring, and problem solving. With pride, ULI members commit to the best in land use policy and practice."

National Association of Industrial and Office Properties

"NAIOP is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP provides unparalleled industry networking and education, and advocates for effective legislation on behalf of our members. NAIOP advances responsible, sustainable development that creates jobs and benefits the communities in which our members work and live."

International Council of Shopping Centers

"Founded in 1957, ICSC is the global trade association of the shopping center industry. Its 600 members in the U.S., Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world."

CREW

"Founded in 1989, CREW Network is the industry's premier business networking organization dedicated to supporting the achievements of women in commercial real estate. Over 8,000 members represent nearly every discipline within the industry and are located in 74 major markets across North America. CREW Network seeks to influence the success of the commercial real estate industry by focusing on fulfilling four key initiatives: business development, leadership development, industry research and career outreach."

US Green Building Council

"The USGBC is a nonprofit trade organization that promotes sustainability in how buildings are designed, built and operated. USGCB is best known for the development of LEED green building systems and Greenbuild, a green building conference and expos that promotes the green building industry. USGBC offers an array of education opportunities, including workshops and internet-based seminars to educate the public and industry professionals on different elements of the green building industry. Through its partnership with the Green Building Certification Institute, USGBC offers more industry professionals the change to develop expertise in the field of green building and to receive accreditation as LEED Green Associates or LEED APs with specialty."

M.S.R.E.D. Alumni Association

The NSU Real Estate Alumni Association began in 2010 as a small group of M.S.R.E.D. and M.B.A.+R.E. alumni and now numbers over 75 members nationally and internationally. The Alumni Association is an active group of graduates, students and dedicated professionals from across the industry. Members promote and deliver meaningful networking and growth opportunities for M.S.R.E.D. Program students and alumni. Open to membership and participation by all current and former students of the Real Estate Program, the Association is an essential career network forum for interaction and professional development.

A member driven organization, the Alumni Association has a seat on the M.S.R.E.D. Program Advisory Board, and works closely with faculty, the Board and graduates to maintain and grow connections with peers in the industry. The Association maintains on-line resources, including a membership directory and on-line communication tools to facilitate job leads and position graduates for careers in real estate.

2010 Program Party 2010 Program Party 2010 Program Party 2010 Program Party 2010 Program Party 2010 Program Party 2010 Program Party 2010 Program Party

Growing network connections within the industry begins at Program Orientation with an Alumni Association welcome reception for new students. The Association is committed to growing and strengthening the Program to serve its student and alumni members with career connections, job leads, links and introductions.

Alumni Testimonials

MS RED Alumna Walter Ojeda

"After working in the real estate banking industry for seven years, the M.S.R.E.D. Program helped me acquired better knowledge and financial skills to determine the feasibility of a project from concept to development. From developers, architects, bankers, brokers, attorneys, consultants, or general contractors, all of them share their point of view in a real estate transaction. After completing the program, not only will you be a savvy developer/investor, but you will meet important industry leaders that will be able to help you throughout your real estate career and achieve your goals in the field."
Walter Ojeda

MS RED Alumna Jessica Joly

"Nova's M.S.R.E.D. Program was beneficial to my development as a real estate professional. The Program offers not only academic advancement through course readings and lectures, but opportunities for real life experience through the field studies program, networking opportunities, and presentation critique by professors and members of the real estate community. Program courses are taught by current real estate professionals with experience in today's changing real estate Industry. Small class sizes result in greater personal involvement by professors and learning opportunities for thorough group discussions."
Jessica Joly

MS RED Alumna Ben Boies

"The M.S.R.E.D. Program at NSU has prepared me with an array of tools to use in analyzing the feasibility of real estate projects. In addition, the hands-on projects and field studies provided throughout the program increased my use of real estate terminology, as well as my comfort to interact on a professional level with highly skilled industry executives."
Ben Boies

Message from the Advisory Board Chair

NSU's M.S.R.E.D. Advisory Board is committed to advancing the university's real estate education programs and serve as active participants in students educational and career development. The Board is comprised and led by acclaimed national and regional real estate industry leaders who are dedicated to making the program one of the top tier graduate real estate degree programs. It advises the Huizenga College on the content and direction of its Real Estate Program, augments the curriculum content and provides career guidance that produces graduates fully and immediately capable of meeting a variety of professional and leadership roles.

The Advisory Board is comprised of two distinct sets of advisory members; the Statewide Advisory Board and the National Advisory Board. Although serving similar roles each board provides the program with distinctly different perspectives - one regional and the other national - to assist the program in attracting and serving students. Both advisory boards support the program with mentorships, real life experiences and access to jobs that successfully transition students to industry.

As industry leaders, board members present seminars discussing important current issues and innovative developments in their fields, as well as provide topical in-field case studies where students can learn and see a diversity of product types first-hand.

Board Members serve as year-long executive mentors to guide and assist students with career advice, help with networking, interviewing and job search skills. Both boards work to provide regional and national job placement assistance, with exceptional results.

As Chairman of both the Advisory Steering Committee and the National Advisory Board, I want to assure all past, current and future students that both boards are dedicated to the success of Nova Southeastern University's Master of Science in Real Estate Development Program.

Our Boards are comprised of successful, experienced professionals from all segments of the real estate industry. These dedicated members draw from their industry experience to provide the Program and its curriculum with overview and guidance. Students have exceptional opportunities to interact and network with board members in the classroom, at industry trade events, during field visits to various real estate projects and on an individual basis as part of the executive mentorship program.

We view the program as a special venue for the development of tomorrow's real estate industry leaders. Graduates clearly understand the personal ethics and professionalism required to become industry leaders. Whether selecting a road of entrepreneurship or a role as a corporate executive, NSU's M.S.R.E.D. program provides graduates with the essential tools and skills necessary to achieve life-long successes.

Sincerely,

MS RED Advisory Board Member Joe Trella's signature

Anthony J. Trella

Advisory Board Description

NSU's M.S.R.E.D. Advisory Board is committed to advancing the university's real estate education programs and serve as active participants in students educational and career development. The Board is comprised and led by acclaimed national and regional real estate industry leaders who are dedicated to making the program one of the top tier graduate real estate degree programs. It advises the Huizenga College on the content and direction of its Real Estate Program, augments the curriculum content and provides career guidance that produces graduates fully and immediately capable of meeting a variety of professional and leadership roles.

The Advisory Board is comprised of two distinct sets of advisory members; the Statewide Advisory Board and the National Advisory Board. Although serving similar roles each board provides the program with distinctly different perspectives - one regional and the other national - to assist the program in attracting and serving students. Both advisory boards support the program with mentorships, real life experiences and access to jobs that successfully transition students to industry.

As industry leaders, board members present seminars discussing important current issues and innovative developments in their fields, as well as provide topical in-field case studies where students can learn and see a diversity of product types first-hand.

Board Members serve as year-long executive mentors to guide and assist students with career advice, help with networking, interviewing and job search skills. Both boards work to provide regional and national job placement assistance, with exceptional results.

Advisory Board Committee

Advisory Steering Commitee

* Also a member of the National Advisory Board

National Advisory Board

M.S. in Real Estate Development News

Real Estate Masters of Science - Study Tour 2014

When studying Real Estate Development at Nova Southeastern, students have been given the opportunity to meet with many industry professionals to include a study tour abroad. This year (Fall-2014) the tour encompassed a cruise aboard Carnival Cruise Line- Freedom, in the Western Caribbean that boarded off the coast of Ft. Lauderdale, FL. and visited Key West, FL, Grand Cayman, Cayman Islands, and Cozumel, Mexico. It also included a general tour of the ships exhibiting sustainability efforts and their responsibility to comply with regulations at each port. The study tour aimed to expose students to sustainable development, environmental ethic and practices as they relate to real estate development. Individually, locations had their own approach or contribution to the fabric of their social awareness of sustainability and economic growth. Both of which play an important factor in the eyes of investors who seek out these locations to "park" their moneys.



Key West Tour

Key West

The first destination in Key West was to its historic town hall where their sustainability coordinator presented innovative solutions to an out dated comprehensive plan over 10 years old. The new measures being put into place green initiatives that educated the community, aided in the preservation of natural resources and directed the growth of its community in a sustainable way. It may seem like the norm in our local communities to see green initiatives in form of regulations but Key West has a particular need for these efforts in order to do day to day things. Because of their dependence of the mainland (FL), Key West has to budget their water consumptions and to draw from reserves incurs a higher cost. The water they have access to is caped at a certain point and to sustain any more development that would require an increased water demand would require the developer to allocate their own resources.

Key West Tour

Historically, water infrastructure was not as developed as it is today and those who owned land also had to be self-sufficient in this aspect. They capture water in cisterns that in fact still are in use today. This was true on the tour of a cistern used for irrigation at Casa Marina, A Waldorf Astoria Resort. The hotel's Chief Engineer was kind enough to open the doors to his operation of the water cistern and its treatment process. It had only one point of entrance after being closed off by the expansion of the hotel. Although they have access to public water, this system provided water for irrigation as well as for fire sprinkler reserves.

Key developers tried to create master plans once the military had decided to leave the space they had occupied. The vision for a sense of place was carried out through standards for construction in the smallest of details that are evident today. Walking the streets of Key West would leave this study tour with a deep respect for preservation, sustainability, and a duty to re-develop spaces into something for everyone to enjoy.

Grand Cayman, Cayman Islands

Cayman Islands Tour

For a small Island such as Grand Cayman, there are many regulations to comply with as a developer. Interestingly enough, the Environmental Agency had a contrasting opinion to this concept. They felt that little importance was given to the ecology and sustainability efforts. These standards were not required for development.

After sitting down with Joseph Imparato, a long-established real estate developer in Grand Cayman, it was clear that despite the encouraged development, neighborhood oppositions had put one major project to rest. Mr. Imparato had elaborate plans for the development of a port that would stimulate the economy but it never went beyond planning stages. To his benefit, a renowned heart surgeon form India proposed to bring in a hospital on that very same land the port would have occupied. Displayed in the conference room where we met with Mr. Imparato were several site plans. One of these was of the "medical truism" - Health City, it is now underway with its hospital in place, also a site destination on the tour.

Cayman Islands Tour

Currently, not too many developers could be named on the island. In the case of the Caymana Plaza, a strong hand dominated tenants to move from downtown into this new development almost drying out downtown from its livelihood. Such practices are common and may be the difference between a successful project and a failure.

Cozumel, Mexico

Cozumel Tour

Students teaching students; local students took the time to meet with the study tour to tell a little about what their University had published regarding the environmental tourism preservation initiatives. In Cozumel, environmental tourism preservation is a topic worth studying all on its own because tourism is the greatest driver of their economy. The intent of this visit to the University was to interview Dr. Alberto Gonzales who has published many studies on the sustainability of tourism on the island. Unfortunately he was not available because there were many conferences for sustainability taking place and collaborative studies were being arranged with sister universities. The students on campus had no problem speaking with us on the importance of the program. They informed use that being environmentally friendly was becoming a norm in Cozumel. Recycling was second nature and many loved to commute on bicycles.

Cozumel Tour

Environmental responsibility was in fact a norm all around, but not by default. It was the Iberostar Resort Hotel that first achieved Green Globe standards and had taken on the role to impart knowledge to the locals. Besides the common practices that are found in hotels (such as the re-use of towels and recycling of organic, non-organic and different plastics), the resort is self-sufficient in supplying their own water. All water consumed one way went out the other and was all treated on site.

Carnival Cruise Line - Freedom

As important as the ports were and their effect on the local economic growth, cruise ships are also sustainable developments of their own. They too have regulations to comply with, each port required different sustainability practices. Nothing is over looked, from separation of recyclables to the disposal of treated gray water. Every effort is made to minimize waste. No clean energy is captured on the ship but engine power is reduced when feasible to conserve fuel. Unlike development on land, the ship did not have much of a focus on monetary gains from recycling, the practice is a requirement of international waters. None the less, development along the port for ships such as Carnival Freedom, benefit from the collaboration of its crew, guests aboard the ship, and local governance.

A Valuable Experience

Study Tour

At the Keys, historic preservation was highly desirable by the locals, meanwhile their comprehensive development plan grown out of necessity. The Cayman Islands, has an environmental agency that feels they have little influence on development. Their political stands of low priority for preservation results in a higher focus on development. Cayman locals have a perception that more development translates to more jobs. Lastly, there was Cozumel, a small island off the coast of Mexico whose economy strongly relays on tourism and is small enough that a resort, such as Iberostar Resort, actually teaches the locals how to be environmentally sound because after all, they do live off of the natural resources that attract tourist from all over the world. The one thing that all of these sites have in common are their ports. Because of this, learning about Carnivals' efforts to comply with various port regulation was a key component to understand. Collectively, the visits on this tour framed development in a global standpoint. Interwoven by lasting memories, learning experiences, and a world of opportunities to explore, the tour is a must for any real estate development student.

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