2024 Winter Issue of Urban Land - 107

MIT CENTER FOR REAL ESTATE
PROGRAM TITLE AND OVERVIEW
Master of Science in Real Estate Development
(MSRED) Program
PROGRAM CONTACT
INFORMATION
Mary Hughes
Graduate Academic Administrator
mchughes@mit.edu
617-253-8308
The one-year MSRED Program prepares students for
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 in
the industry.
DEGREE REQUIREMENTS
ANNUAL TUITION AND FEES
Tuition for 2024-2025 is $90,999 for
fall, spring, and summer terms.
Estimated cost of living is $32,336.
(source: MIT Office of Graduate
Education)
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
* Unofficial 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
* Provide in their statement a rationale for their
candidacy and interest in the Young Leaders Program
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* 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:
* 25-30 students; average age of 30
* Geographically diverse, 30-60% 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.
Though it's traditionally an 11-month program, students
have the option to extend their program for one
additional semester and complete a thesis during the
following fall term for a 16-month program option.
The MSRED Program offers an internship elective
during the summer term, which may be counted toward
degree requirements.
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
the alumni network, networking contacts, and panel and
conference events.
2024 Winter Issue of Urban Land

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