Archive for category: Real Estate Development

Advancing Affordable Housing Through UCLA Luskin’s Masters in Real Estate Development Program Francisco Castañeda is leveraging Luskin’s MRED program to deepen his impact in the affordable housing sector.

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Francisco Castañeda, a native of San Ysidro, California, brings six years of professional experience in the affordable housing sector across both nonprofit and for-profit sectors to Luskin’s Master of Real Estate Development (MRED) program.

Castañeda’s professional path was shaped by his personal experience dealing with housing instability. Those early experiences inspired him to pursue a graduate degree focused specifically on affordable housing.

“I was really interested in UCLA’s MRED program because it of its people-focused real estate development curriculum,” Castañeda explained. “Many other programs treat affordable housing as an afterthought, but at Luskin, it’s a central focus.”

That focus is embedded throughout the MRED program and reinforced by the Jaeger Alter Standard Communities (JASC) Affordable Housing Program, launched in 2025 with a $2.5 million commitment from Standard Communities’ Jeffrey Jaeger and Scott Alter. Students who participate in the program earn a Certificate in Affordable Housing, gaining specialized training in development, capital solutions, and policy-informed approaches to equitable housing.

For Castañeda, the certificate adds both depth and credibility to his professional toolkit.

“I believe the Affordable Housing Certificate gives extra credence to my skill set,” he said. “It signals to employers that I have focused, hands-on training in housing development and understand the complexities of the field.”

Launched in fall 2025, MRED is an accelerated, one-year program designed in collaboration with industry leaders, with 70% of courses taught by practitioners. The curriculum blends real estate fundamentals—finance, investment, land use law, site planning, design, and construction management—with a policy-oriented perspective that integrates urban development, sustainability, and equity.

Castañeda emphasizes that it’s not just the curriculum that matters, but also the diverse cohort and the guidance from experienced industry leaders.

“The diversity of our peer group contributes to a robust classroom environment,” Castañeda said. “We all bring different interests, skill sets, and experiences. Also, having industry leaders teach our classes allows us to learn firsthand from those who have succeeded in the field, and to understand what really works in practice.”

Through the JASC Affordable Housing Program, students engage with emerging capital market strategies and development models designed to expand housing production beyond traditional public subsidies.
“Housing affordability is a critical issue,” Francisco noted. “Many people spend more than 50% of their income on rent or a mortgage. My interest in affordable housing comes from my own experience with housing instability, and I hope to use the skills and knowledge I gain here to create housing solutions that are more equitable, affordable, and accessible to communities like mine.”

Q&A with Diana Liu, Masters in Real Estate Development (MRED) Student With nearly two decades of experience in real estate, Diana Liu brings a global, executive-level perspective to UCLA

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You came to UCLA Luskin with senior leadership experience at companies like Tesla and Walmart. What made this the right moment to step back into the classroom, and why UCLA’s MRED specifically?

I have spent most of my career in corporate real estate, primarily focused on execution — new site selection, store openings, service facilities, and office locations. At Walmart in particular, I was fortunate to gain broad exposure across construction, project management, commercial leasing, and asset management, which gave me a very comprehensive understanding of how large-scale real estate organizations operate.

At this point in my career, I felt ready to step back and think more deeply about the why behind development — not just how to execute projects, but how to plan commercial real estate for the long term in a way that is sustainable and resilient. UCLA Luskin stood out because the MRED program is grounded in public impact. It focuses on preparing future real estate leaders to think beyond short-term returns and consider sustainability, resilience, and community outcomes as central parts of development.

The MRED program emphasizes sustainability and affordable housing. How does this approach differ from how real estate has traditionally been taught or practiced?

Traditionally, real estate education and practice have focused heavily on profitability and transactional returns. While financial performance is still critical, the MRED program challenges us to think about how sustainability can be thoughtfully integrated into long-term financial goals rather than treated as an afterthought.

Headshot of Diana Liu in front of Royce Hall

Diana Liu

Two aspects of the program really stood out to me. First, sustainability as not just a concept but a central tenet of the curriculum. Second, the curriculum prioritizes applied learning. Many of our courses are built around real case studies, and we frequently connect with senior real estate leaders throughout the program. For someone with extensive industry experience, this approach allows me to stay connected to market leaders and continue to grow my professional network. Approximately 70% of our courses are taught by senior industry leaders, not just academic lecturers.

As a member of the inaugural MRED cohort, what has your experience of the program been like so far?

The school has made a significant investment in our cohort and is deeply committed to our success. As members of the inaugural class, we are actively shaping the culture of the program. Our cohort is highly diverse, with peers from backgrounds in development, finance, design, and policy, which makes our discussions really interesting and informative. The experience closely mirrors a professional environment — you are constantly coordinating different perspectives, like a conductor, bringing together construction, design, finance, legal, and policy considerations into a cohesive whole.

You bring a global real estate perspective from China and multinational firms. How has studying real estate in Los Angeles expanded or challenged the way you think about markets and development?

Coming from China, I was accustomed to faster development timelines and more centralized decision-making. Studying real estate in Los Angeles has challenged me to think much more deeply about community engagement, regulatory complexity, and the intersection between the public and private sectors.

This experience has shifted my perspective from simply thinking about getting a project to the finish line to thinking more holistically about long-term community value. It is not just about speed and scale, but about inclusion, collaboration, and sustainability. This type of learning has prepared me to approach development with a more global and holistic mindset.

How do you hope to carry forward your commitment to inclusive leadership as you continue your real estate career after UCLA?

I strongly believe that better outcomes come from listening to diverse perspectives. Real estate remains a male-dominated industry, and women’s voices are still underrepresented in leadership and decision making. We need to be seen and heard.

As I move forward, I hope to mentor younger women who are building their careers in real estate. I also want to continue balancing professional success with social responsibility, ensuring that development decisions reflect inclusive leadership and long-term impact.

Any final thoughts or advice for prospective MRED students?

The MRED program offers an exceptional level of support and real-world engagement. Each student is paired one-on-one with an industry mentor, which provides invaluable guidance and perspective.

One of the most impactful experiences for me has been our capstone project. We were tasked with identifying a real property, visiting the site, engaging brokers, developing a proposal, and pitching it to real investors. That experience truly placed us in a real-world development environment and reinforced how closely the program is connected to industry practice. For anyone considering MRED, this program is deeply practical, highly engaged, and designed to prepare you for the realities of today’s real estate landscape.

UCLA’s Master of Real Estate Development Program to Receive $2.5 Million Gift The pledge from Standard Communities’ Jeffrey Jaeger and Scott Alter will support innovative approaches to affordable housing

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By Kate Shirley

The new Master of Real Estate Development Program (MRED) at the UCLA Luskin School of Public Affairs has received a $2.5 million commitment to support its affordable housing program. The pledge comes from Jeffrey Jaeger and Scott Alter, co-founders and principals of Standard Communities, a Los Angeles–based real estate company dedicated to building and preserving affordable and workforce housing nationwide. In recognition of the gift, the program will be known as the UCLA Jaeger Alter Standard Communities (JASC) Affordable Housing Program. Participating students would earn a Certificate in Affordable Housing.

Launched in fall 2025, the UCLA MRED is a one-year graduate program designed in collaboration with industry leaders. Students gain hands-on experience through case studies, site visits and competitions, preparing them to address pressing housing, environmental and equity challenges. The JASC Affordable Housing Program will ensure UCLA MRED graduates enter the real estate field with the skills, networks and vision to create lasting social impact.

headshots of two men in dark suits

Scott Alter, left, and Jeffrey Jaeger

“This enduring gift enables us to develop new coursework focused on innovative approaches to building affordable housing — drawing on emerging capital market solutions that can scale production far beyond what traditional public subsidies can support,” said Greg Morrow, executive director of the UCLA MRED program. “Through this effort, UCLA MRED is helping to pioneer new ways of addressing the affordable housing crisis.”

Standard Communities has built a reputation as a national leader, delivering innovative, high-impact housing solutions that expand access to safe, dignified and affordable homes. By leveraging creative financial structuring and public-private partnerships, Standard Communities preserves and develops communities that uplift residents, strengthen neighborhoods and help address the country’s urgent affordability crisis.

As part of the UCLA MRED focus on industry partnerships and collaboration, Jaeger and Alter plan to provide guest lectures, mentorships and internships with the goal of strengthening the pipeline of talent committed to addressing housing affordability.

“We’ve seen firsthand how access to safe, stable, dignified, affordable housing can transform lives,” said Alter. “This gift is an investment in the leaders who will emerge from the UCLA MRED program and will carry that mission forward — building stronger, more resilient communities for generations to come.”

Standard Communities was founded during the 2008 housing crisis, and this gift aligns with the company’s mission, which reflects a belief that affordable housing is not only central to thriving communities but also a meaningful and rewarding career path for young professionals.

“What makes the affordable housing industry so powerful is that it allows us to have a profound impact in our communities and in the world at large, while offering meaningful and financially rewarding careers,” said Jaeger. “By supporting the program, we hope to expand the pipeline of talented professionals who will bring fresh ideas, energy and commitment to this space, ultimately helping to deliver housing solutions that are sustainable, equitable and capable of transforming lives.”

The JASC program underscores UCLA MRED’s dedication to offering specialized skills through several certificate programs, including sustainable development, property technology and asset management, as well as affordable housing.

“Affordable housing is among the most urgent needs in our region and beyond,” said Anastasia Loukaitou-Sideris, interim dean of UCLA Luskin. “This gift enables us to train a new generation of real estate leaders who can design, develop and manage housing that is both affordable and sustainable. We are deeply grateful to Jeffrey Jaeger and Scott Alter for their foresight and generosity.”

UCLA Launches New Master of Real Estate Development Program Greg Morrow, a real estate professional, educator and UCLA alumnus, will lead the Luskin School-based initiative

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UCLA is launching a master of real estate development program, or MRED, which combines the resources of America’s top-ranked public university with hands-on learning from industry leaders in one of the world’s most dynamic real estate markets and learning labs.

The one-year UCLA Luskin MRED is a new kind of real estate program, distinguished by unprecedented collaboration with industry leaders and opportunities for students to apply their academic training to real-world challenges through case studies, site visits and competitions. Mentoring, internship and networking opportunities will give them further access to innovative thinkers and workplace experiences to enhance their career prospects.

The MRED program’s cutting-edge curriculum integrates academic and experiential learning to equip students with both the analytical and practical skills to succeed in a range of careers and a big-picture understanding of the real estate industry’s power to create meaningful community impact.

UCLA has appointed Greg Morrow, a real estate professional and educator who founded UC Berkeley’s MRED+Design program, to lead the new UCLA program. Morrow earned master’s degrees in city planning and architecture from MIT and a doctorate in urban planning from UCLA.

Headshot of a man with glasses

Greg Morrow

“I’m thrilled to be back in L.A. to launch an MRED program that is unlike any other in content, outlook and emphasis on real estate’s central role in shaping society,” Morrow said. “Working with our industry partners, we aim to cultivate future leaders who have superb professional skills and a deep understanding of socioeconomic and policy issues in order to create more livable, resilient, equitable communities.”

MRED students will study under and work alongside accomplished professionals, including developers, lenders, private equity investors, real estate and land use lawyers, affordable housing officials, policy leaders, architects, builders, construction executives, planners and innovators in sustainability. These industry experts helped design the curriculum and will teach most of the classes.

“We’re teaming up with UCLA’s faculty to ensure that students gain the essential skills to succeed in whichever real estate field they choose,” said Alex Rose, executive vice president for development at Continental Development Corp. and a member of UCLA Luskin’s board of advisors. “From day one, graduates of the UCLA Luskin MRED program will have the tools to contribute not just to their employers but to make a difference in their communities as well.”

The interdisciplinary program is housed in the Luskin School of Public Affairs’ urban planning department and will include courses in the Anderson School of Management, UCLA Law and other departments across the university. Students will also have access to broad real estate expertise at UCLA through the Ziman Center for Real Estate, Lewis Center for Regional Policy Studies and the innovative cityLab research center in the department of architecture and urban design.

The new program reflects the University of California’s effort to establish educational paths that address specific workforce needs. In addition to nuts-and-bolts real estate competencies, MRED students will be exposed to the latest trends in real estate —  from AI and new design paradigms to advanced construction techniques and financing tools. The program will also address key issues of affordability, equity, sustainability and how development interacts with larger urban development systems.

The curriculum is designed to develop students’ critical thinking, teamwork, communication and problem-solving skills, which are also essential for success in the workplace.

“Los Angeles is an ideal city in which to study real estate,” said Cecilia Estolano, a member of the Luskin board of advisors and a leading expert on contemporary urban planning issues with experience in economic and workforce development, land use, environmental equity and urban revitalization. “We have a diverse economy, dynamic neighborhoods and a range of real estate problems requiring bold, innovative, systemic solutions. UCLA’s MRED will challenge students to situate real estate development in a broader policy context.”

A cultural trendsetter that welcomes reinvention, Los Angeles is undergoing an ambitious urban transformation, including major housing and transit initiatives, as it prepares to host the 2026 World Cup, the 2027 Super Bowl and the 2028 Summer Olympics.

“Los Angeles has proven to be a laboratory marked by innovations that become models for the nation,” said Andy Cohen, co-chair of the Gensler design and architecture firm. “UCLA is at the heart of this global metropolis, giving students in this important new program front-line access to learn from the best so they can shape the real estate industry and build a better future for our cities — locally and internationally.”

“Luskin is a powerful platform that seeks to educate and challenge change-makers to tackle pressing societal issues,” said Anastasia Loukaitou-Sideris, interim dean of UCLA Luskin. “The new master in real estate program is a perfect fit for Luskin. We can’t wait to welcome our first class next year.”

The program is designed for applicants from diverse fields, within and outside real estate, and backgrounds.

“UCLA is a global brand that attracts leading scholars, students and industry partners and has a devoted international alumni network,” Morrow said. “By leveraging the best of UCLA and its alumni, the UCLA Luskin MRED program will build a global brand in real estate. Our graduates will not only change the industry but also change the face of real estate.”