Real estate development—no matter where, when, or for what purpose—presents a mix of legal and strategic puzzles. From selecting a site to designing a project, obtaining government approvals, and financing the project’s construction, real estate development is governed by varied and sometimes conflicting legal rules and norms, and successful real estate developers must have strong political and public relations savvy. This course introduces students to the legal frameworks that govern the use and development of real property. It will focus centrally on zoning as the primary means of public control of real estate development in the United States and will explore the substantive and procedural rules attendant to zoning as well as legal limits on local zoning laws. Students will also learn about environmental and historic preservation laws and mechanisms for public financing of real estate development, and we will review private development controls such as covenants and construction financing instruments. Although this course is designed for students interested in pursuing careers in real estate development, it will cover issues of law and policy that shape the built environment and it is therefore suitable for students in public policy, planning, architecture, economics, environmental science, and many other fields.
