Master of Real Estate Development


The Master of Real Estate Development [MRED] program at the University of Maryland provides a comprehensive graduate level education designed to prepare students for a successful career in real estate development. The MRED Program promotes a multi-disciplinary approach to real estate education. It delivers a comprehensive curriculum with a foundation in the business, finance and entrepreneurial aspects of real estate, paying special attention to the “quadruple bottom line:” economic viability, environmental respect, social responsibility and beautiful design. The program offers a unique mix of elements and a strong finance foundation that prepares students to successfully address industry challenges and become accomplished practitioners. It includes the following components:


• Professors who are active industry professionals, committed to providing the working knowledge of how real estate is being developed and managed under current conditions.
• A location rich with real estate challenges—land development on the Eastern Shore, infill development in Washington, DC, redevelopment of suburban transit corridors, river and harbor
front makeovers in Baltimore and Washington—allowing students to explore classroom concepts with enriching site visits.
• A flexible and personal study program with start dates, course sequences and core requirements tailored specifically to each student’s needs.
• A diverse student body, whose broad mix of academic backgrounds, practical experience, age, gender, ethnicity and culture provide an exceptional setting for learning, collaboration
and professional connections.
• Involved and connected alumni at top real estate companies, actively support the program, its students and each other. Our graduates are making their marks at such notable companies as Jones Lang LaSalle, JBG, RCLCO, Somerset Development, First Potomac and the Peterson Companies, as well as in public/private development at the federal, state and local level.


In sum, the University of Maryland’s Graduate Programs in Real Estate Development offer an unparalleled combination of realworld knowledge, real estate industry connections and a vibrant, diverse student body.

File Info Abstract:

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RDEV_Brochure.pdf (RDEV_Brochure.pdf)

Tuition and Fees

The MRED degree is a Non-Standard Tuition program. Please see PDFs below for more info.

The Master of Real Estate Development (RDEV) program is designed as a complete degree for those interested in real estate careers. There are also options to combine the degree with a second (dual) degree with Architecture (ARDV), Planning (CPDV), Historic Preservation (HPDV), or Business Administration (MBRE), or to do a shorter set of real estate courses for a Certificate in Real Estate Development (Z029).  


To apply, follow these steps:

  1. Begin your online application by clicking on the Graduate School.  (Note, if you get taken to a page that shows the Robert H Smith School of Business, scroll down to and click on “All Other Applications”.)
  2. Select the School of Architecture, Planning & Preservation
  3. A menu will drop down to select the RDEV master program or any of the other dual degrees using its 4 letter code. 
  4. For the dual degree with business administration select the Robert H. Smith application to begin and program code MBRE.  The Smith application is in a different application system and it is not possible to switch back and forth.


If you have any questions about which application to file, contact the assistant program director at


Application Codes in the Graduate School are:


RDEV = Master of Real Estate development

ARDV = Dual degree with Architecture

HPDV = Dual degree with Historic Preservation

CPDV = Dual degree with Urban Planning

Z029 = Certificate Program in Real Estate Development

MBRE = Dual degree with Business Administration

The Master of Real Estate Development (MRED) program is comprised of 14 courses with two foundational core courses in law and finance; a capstone course undertaken as either a project feasibility study or a topical applied research paper; three electives; and 5 cognate courses with students selecting one course from multiple offerings in valuation/market analysis, planning, design, construction and asset management. Students without prior real estate courses or expereince take additional levelling courses as a part of the degree program. On a case-by-case basis, the Program Director may accept a substitute course for a required core or cognate course if justified by the student’s prior educational background or work experience.


MRED is not a cohort program with a required sequence of courses, although students taking additional levelling courses must do so in their first and second semesters. Thereafter, students go on to take the fundamental courses in Development Law and Foundations of Development Finance. No courses from prior degrees may be transferred for credit towards the MRED degree except for additional leveling courses required for students without a business degree or extensive real estate experience. 


Many related electives are available in such focused areas as sustainability, adaptive reuse, finance, affordable housing, planning, and transportation. In addition, students may take relevant courses at the Smith School of Business, the Clark School of Engineering, the Department of Landscape Architecture, and the School of Public Policy. 


Program Philosophy: Educating for The Quadruple Bottom Line

The location of the MRED program in the School of Architecture, Planning and Preservation means you will have the opportunity to study with professors and students in highly related, but often overlooked parts of the development process—the broader context of planning and politics, design and construction, and property management—as well as standard finance and investment courses.


We believe here at Maryland that this is not only the best the University and our development partners and sponsors have to offer you, but that it is also a superior preparation for entering or advancing in the development industry. Your professors will provide theoretical and academic materials as well as the practical application of theory. Most of your professors will be practitioners active in the real estate arena.


In sum, your degree from Maryland is about preparing you to build for a sustainable future. Development projects you promote and participate in or undertake yourselves will aim for a rich quadruple bottom line—one that is not only economically viable, but also environmentally respectful, socially responsible and, not to be overlooked, aesthetically pleasing.


Program Pedagogy: Collaborative, Comprehensive, Professional Education

We take an integrated, interdisciplinary and balanced approach to real estate development education. This means you take courses that address all aspects of the real estate business. Yes, real estate is a business, and finance is critical to making it work, but all the other principles and professionals from planning to property managers, are an integral part of successful development. None of those aspects are overlooked in Maryland's Master's degree in Real Estate Development.


You will take at least one course in every phase of development, plus two or more cross-cutting courses, such as development law, and at least one or more "skills" classes, such as negotiations. In addition you will have the opportunity to select several narrowly focused electives. If you are keen to start your business you can take a course in entrepreneurship (RDEV688P) to learn business plan skills and hear from local developers about the multiple paths to success.


Your professors and courses will provide both a theoretical and practical knowledge base, with site visits, practice exercises and visiting lecturers who are active in all facets of development. Textbooks, journal articles and theses, are balanced with pro formas, policy memoranda and field studies. Each student is expected to become actively engaged in the local chapter of a real estate trade association, to stay up with current business reporting on real estate in the region, the nation and the world, and to participate in the life of the community they seek to shape going forward.


By the time you complete your capstone project you should be well equipped to understand and communicate with the array of professionals who contribute to a successful real estate project—planners, politicians, policy makers, community advocates, financiers, architects, appraisers, market analysts, engineers, contractors, investment bankers and property and asset managers. 

On behalf of the faculty, staff, and students we want to welcome you to the University of Maryland School of Architecture, Planning and Preservation. We are happy that you will be joining us and hope that your experience is productive, rewarding, and enjoyable. We have assembled some information to aid you in your transition into our classroom environment. Should you find that there are items that are not addressed, please let us know so that we can help you get the answer to your question as well as include that information for future applicants. Feel free to contact us to discuss your concerns.


As you scroll down this page, please click on the topic of interest to you in order to expand the window.


To schedule a meeting with the Program Director contact:


Maria Day-Marshall
Director, Real Estate Development Program

(301) 405-8000




Gérard Boulin

Program Assistant
(301) 405-9415 


Keep up to date on what's happening in the school and be informed about important deadlines by visiting the MAPP calendar.