ULI Real Estate School

Real Estate Development Process: Part I

Highlights

• The stages of the development proccess.
• Financial analysis.
• Project feasibility.
• Entitlements and the regulatory process.
• Construction management.

Real estate development is a complex business requiring interaction among multiple disciplines. To develop, finance, or supervise a project effectively requires a basic understanding of the process and its many facets. This course introduces, to public and private sector participants, the principles and concepts of real estate development. Emphasizing the iterative and interactive nature of the real estate development process, the course outlines the various stages of the process and discusses how each team member’s actions and performance affect the success and profitability of the project.

Employing a lecture/case study approach, top industry professionals drawn from ULI’s membership serve as course leaders and guest speakers, sharing their insights, experience, and opinions with participants.

This course involves some measure of homework, the use of a programmable financial calculator (the HP 10b II is used in demonstrations), and teamwork in building a pro forma for a mixed-use development.

The course is structured in three parts: preliminary considerations (market analysis, financial feasibility, strategy); land development (site selection, acquisition, negotiating and closing, acquisition financing, entitlements); and vertical development (planning and design, development financing, construction, strategic market -planning, sales and leasing, asset management).

Who Should Attend

This introductory course provides valuable information to new developers as well as planners, designers, architects, lenders, builders, attorneys, accountants, marketers, engineers, public officials, environmentalists, and others who want to understand the developers’ perspective.

Overview

• Establishing a development strategy and criteria.
• Market analysis: preliminary go/no-go decisions.
• Site analysis and selection.
• Development finance.
• Construction issues.

Faculty

Wayne Falbey
President
The Falbey Group
Naples, Florida

Wayne Falbey, DBA, JD, has been involved in all phases of land development for more than 25 years. He is president of the Falbey Group, LLC, a Naples-based consultant firm offering services in real estate development strategies that focus on acquisitions, land assemblage, planning and design, management issues, and marketing Falbey served as transactional counsel for developers, including Fortune 100 companies, prior to moving to the business side as a developer. He has been involved in many different types of developments including residential, multifamily, mixed-use, commercial, retail, and industrial. Among other developments, he has worked with Westinghouse Communities on the Pelican Bay, Pelican Landing, Bay Colony, and Pelican Marsh communities and with the Bonita Bay Group regarding Bonita Bay, The Brooks, and Mediterra.

Falbey is actively involved in the leadership of ULI–Urban Land Institute at the local, state, and national levels. He served as chairman of the ULI’s District Council of Southwest Florida from July 1999 through June 2002. He is a member of ULI’s Policy and Practice Committee, and the Recreational Development Council. He also serves on ULI Advisory Services panels.

He has served in civic and community organizations including the Naples Area Chamber of Commerce and the Economic Development Council of Collier County.

Falbey earned an MBA with a concentration in real estate development, and holds a law degree from Vanderbilt University as well as a doctorate in business administration with concentrations in management and marketing. In addition to membership in ULI, Falbey is a member in good standing of the Florida and Colorado Bars. Falbey also holds a Florida real estate broker license.

In addition to his duties with the Falbey Group, he is an adjunct member of the faculty at the Huizenga Graduate School of Business & Entrepreneurship at Nova Southeastern University, as well as Florida Gulf Coast University. Falbey has published a number of articles on issues relevant to the real estate industry in a variety of publications, most recently the June and August 2002 issues of Urban Land magazine. He has served on numerous panels addressing matters critical to the industry.

Additional faculty to be announced.

Program Manager
David A. Mulvihill

Accommodations and Class Location

Hotel accommodations are not included in the registration fee. If you would like to make hotel arrangements, please contact the appropriate hotel before the date indicated. The hotel has reserved a block of rooms for workshop participants until that date. As the number of rooms is limited, please make your reservations early. To receive the lower room rate, mention when making reservations that you are attending the Urban Land Institute workshop.

San Francisco, California Program
January 5–8, 2009

Omni San Francisco Hotel
500 California Street
San Francisco, California 94101
Reservations: 800.843.6664 or 415.677.9494
Fax: 415.273.3038
Room rate: $255 single/double + 14% tax
Hotel reservation deadline: December 15, 2008
Cancellation deadline for program: December 29,2008

Registration, Cancellations, and Discounts

Register early! Space is limited at each workshop and applications are taken on a first-come, first-served basis. Registrations will be processed only when full payment is received. You can register four ways: See registration form for instructions and fees. Registration fee includes tuition, course materials, a luncheon, and refreshments. Additional $100 charge for on-site registrations. Cancellations, which must be made in writing to ULI’s Events Management Department, will be subject to a $100 administrative fee. Cancellations must be received at least seven days prior to the start of the class to be eligible for a refund. No refunds will be granted thereafter. You may, however, transfer your registration, without penalty, to another member of your organization. Group discounts apply if three or more employees from the same company or organization attend the same program. Call David Mulvihill at 202-624-7122 for a special price. Airline Discount: Savings of 5 to 15% are available on United Airlines and their code-share partner, US Airways. Call United Airlines at 800-521-4041 between 8:00 a.m. and 10:00 p.m. EST and mention ULI file #581PT. The discount applies on all United, United Express, and United code-share flights (US) operated by US Airways, US Airways Express, and Air Canada. Mileage Plus members receive full credit for all miles flown to this meeting.