2023 Winter Issue - 131

MIT CENTER FOR REAL ESTATE
PROGRAM TITLE AND OVERVIEW
Master of Science in Real Estate
Development (MSRED) Program
The one-year MSRED Program prepares students for
PROGRAM CONTACT
INFORMATION
Mary Hughes
Graduate Academic Administrator
mchughes@mit.edu
617-253-8308
rewarding, responsible leadership positions in the
real estate industry. The course of study is rigorous,
balanced, and grounded in professional practice
to help students achieve a broad understanding
of all aspects of real estate. Small class sizes and
an emphasis on team projects help students with
differing levels of experience and expertise learn from
one another. The curriculum is a demanding course of
study that balances theory with practice and focuses
on the real and practical needs of the industry, a
defining characteristic of an MIT education. The
program also benefits from MIT's interdisciplinary
tradition, which encourages academic work that
transcends departmental boundaries. The student
body generally reflects the mix of professions within
the industry.
ANNUAL TUITION AND FEES
Tuition for 2023-2024 is $88,349 for
fall, spring, and summer terms
Estimated cost of living is $31,395
(source: MIT Office of Graduate
Education)
DEGREE REQUIREMENTS
Students must successfully complete six core
courses, required elective units, and a thesis.
Students are required to maintain a 4.0/5.0 GPA.
Core and elective courses include topic areas such
as: finance, economics, development, engineering,
mixed-income housing, leadership, entrepreneurship,
negotiation, securitization, innovation, and
international housing.
ADMISSION REQUIREMENTS
The MSRED application deadline is January 15.
A complete application package consists of:
* Online graduate application form with application
fee
* Statement of objectives
* 3 letters of recommendation: 2 professional,
1 academic
* Official academic transcript(s)
* GMAT or GRE score
* TOEFL or IELTS score (as applicable)
* Professional résumé (3-5 years' experience in a
real estate-related field required)
* Financial aid application
* Optional portfolio/work sample
Applicants with less than 3 years of professional
experience may apply through the Young Leaders
Program. Participants make up, at most, 10% of the
student cohort each year. Exceptional individuals with
fewer than three years' experience in the real estate
industry may be invited to the MSRED Program as a
Young Leader. Young Leader applicants must:
* Demonstrate exceptional academic performance
* Perform exceptionally on requisite exams
2023 EDUCATION PROGRAMS URBAN LAND | 17
* Provide in their statement a rationale for their
candidacy and interest in the Young Leaders
Program
* Indicate on the online application their intention to
be considered for the Young Leaders Program
For Young Leaders, variances from required
application materials may include:
* Letters of recommendation may instead be:
2 academic, 1 professional
* Professional résumé-required if the applicant
possesses professional work experience
STUDENT DEMOGRAPHICS
The typical class profile of an MSRED cohort:
* 30-35 students; average age of 30
* Geographically diverse, 30% to 60% international
* Diverse professional backgrounds (planning,
development, finance, construction, architecture,
construction management, design, law, consulting,
brokerage, etc.)
ADDITIONAL PROGRAM/
CAMPUS DETAILS
Financial Assistance is available in the form of
Fellowships and Fellow Programs. The MSRED
Program participates in the Yellow Ribbon Award in
conjunction with the Office of Veterans Affairs.
Students have the option extend the MSRED Program
from 11 months to 16 months. Students who choose
this option may participate in an internship elective
during the summer term, which may be counted
toward degree requirements. They may participate in
classes in their second fall term and will submit their
thesis at the end of that semester.
The Center for Real Estate, through its professional
partnerships, has a robust program offering of
quality career development and experiential learning
opportunities. MSRED student participate in
experiential learning through: winter externships,
summer internships, and project-based learning.
Career development opportunities include: skills
workshops, individual counseling, industry
presentations, access to alumni network, networking
contacts, and panel and conference events.
2023 Winter Issue

Table of Contents for the Digital Edition of 2023 Winter Issue
