A practicum about real estate development and decision making. Real estate development is a process during which the entrepreneur identifies a site which is underutilized, undertakes the necessary conceptual, design, market, economic, and financial analysis and brings the site to its highest and best use. Topics include market analysis of different types of real estate uses, massing studies, cost estimation and deal structuring, analysis of site constraints and regulation and financial analysis of to be-built properties. Students in teams undertake the background research and feasibility analysis related to a site and make a final proposal to the instructor. Prerequisites: BUEC 503, and FIN 501 or 502 (or consent of instructor).