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Master of Real Estate Development Receives Final Approval From UC The one-year degree program will stress instruction on the ethical underpinnings of a growing profession

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By Stan Paul and Les Dunseith

Beginning in the fall of 2025, the UCLA Luskin School of Public Affairs will enroll students in a new Master of Real Estate Development, or MRED, program.

“We are delighted and excited to receive approval for the MRED, which we envision as building a better future for our cities,” said Interim Dean Anastasia Loukaitou-Sideris, distinguished professor of urban planning. “We see the MRED as a transformative opportunity to train and diversify a new generation of real estate professionals who can best respond to the needs for more and more affordable housing, climate-adaptive and green-building technologies, and age-friendly developments.”

The Office of the President of the University of California notified the Luskin School of the degree’s final approval on Jan. 23. It has been working its way through the approval processes at UCLA and UC for about two years.

Led by Vinit Mukhija, a professor and former chair of urban planning, the program will be a one-year, full-time, self-supporting degree program that emphasizes the ethical underpinnings of a growing profession.

Mukhija said urban real estate development is “one of the most powerful forces shaping buildings, neighborhoods, cities and their suburbs, and metropolitan regions.

“From planning to finance to design, development decisions about what to build and where to build influence equity and urban sustainability in ways that are often neglected in traditional real estate development programs.”

 “Success in real estate development will require a nuanced understanding and ethical response to underlying environmental and social challenges.” —Professor Vinit Mukhija

The MRED will provide key practical skills, integrating students into real-world development projects. It will take advantage of UCLA’s location in the nation’s second-largest city, Los Angeles.

Mukhija also noted the profound role that development has in addressing global grand challenges.

“Success in real estate development will require a nuanced understanding and ethical response to underlying environmental and social challenges,” he said.

Coursework will be led by faculty experts from UCLA Urban Planning, the Anderson School of Management and UCLA Law. An inaugural class of 25 students is expected, growing to about 40 students in the program over time. 

The MRED will be a full-time (44 units minimum), primarily on-campus program spanning 11 months, with students in residence during the fall, winter and spring quarters, which is consistent with other real estate development programs in the United States. 

Applicants to the MRED program at UCLA Luskin must possess a bachelor’s degree or equivalent. At least two years of experience in real estate, urban development or a related field is preferred. 

Unlike other real estate development programs, Mukhija said the UCLA program will be distinguished with an Urban Development core requirement that situates the MRED program’s training within the broader terrain of urban governance and urban life, including the challenges and opportunities presented by concerns about equity and sustainability.

Mukhija expects that many of the applicants will be mid-career professionals who are not typically served by state-supported programs. A significant share of international applicants is anticipated, with some coming from countries with growing urbanization rates and thus facing  new challenges relating to urban growth.

In addition, the program proposes to prepare real estate development professionals who understand the fundamentals of development, as well as the context of urban development and the effect of real estate and urban development on urban life and economic opportunities.

Senate faculty will teach at least 30% of the courses, joined by distinguished and innovative real estate and urban development practitioners. These industry experts with practical experience in real estate will provide the development and experiential knowledge that is “crucial and essential for the holistic, integrative perspective that we intend to cultivate in our students,” according to the documentation prepared by UCLA Luskin in support of the program. 

Although situated within UCLA Luskin Urban Planning, coursework will also touch upon issues taught in the School’s social welfare, public policy and public affairs degree programs, which share a common thread of social justice and a desire to make society better. And the Lewis Center for Regional Policy Studies based at UCLA Luskin will play a role in the research component.

In addition to conducting research on real estate and urban development, the MRED students will receive training to become real estate development professionals who can recognize and address the challenges of inclusive urbanization.

“It’s part of our mission,” Mukhija said.

A Picturesque Welcome to the Luskin School Green spaces replace construction zones after seismic upgrades to Public Affairs Building

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Splashes of color now ring the UCLA Luskin Public Affairs Building, replacing fences and scaffolding used during months of seismic upgrades.

With the completion of renovations in the summer of 2023, construction zones have been replaced by green spaces populated by native grasses and flowers, planted by UCLA Facilities Management in coordination with UCLA Sustainability and Hien McKnight, the School’s assistant dean for operations and administration.

Fescues, needlegrass and wildflowers in shades of red, yellow, purple, pink and white are among the 17 types of plants seeded throughout the strips of land.

They were chosen for their biodiversity, support of pollinators and climate resiliency, in keeping with the UCLA Landscape Plan, whose guiding principle is to model responsible environmental practices.

The beautification project marks the official end of the two-year renovation. While making the Public Affairs Building earthquake safe was the No. 1 goal, the project also included several other improvements, including:

  • Installation of a high-security system at building entrances.
  • Upgrades to restrooms, including two all-gender facilities with diaper-changing stations.
  • Addition of 10 hydration stations, six of which have bottle fillers.
  • Installation of shade structures in the 5th floor atrium.
  • Remodeling of the 5th floor kitchen area.
  • Mechanical upgrades to the building’s elevators.

The following native plants were used in the Luskin School’s new landscape:

Grasses
  • Molate Creeping Red Fescue
  • Western Mokelumne Fescue
  • Idaho Fescue
  • Purple Needlegrass
Wildflowers
  • California Poppy
  • Arroyo Lupine
  • Farewell-to-Spring
  • Baby Blue Eyes
  • Chinese Houses
  • Golden Lupine
  • Globe Gilia
  • Bird’s Eye
  • Five-Spot
  • Tidy Tips
  • White Yarrow
  • Mission Red Monkeyflower
  • Blue-Eyed Grass

Homeownership Becoming ‘Out of Reach’ for Most Angelenos, Manville Says

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The median price of a home in Los Angeles is expected to soon hit $1 million, and UCLA Luskin’s Michael Manville recently told the Guardian that “homeownership for many people is now out of reach.” The professor of urban planning noted that most homebuyers do not have $400,000 for a typical 40% down payment, nor $4,000 a month to put toward mortgage payments. “The million-dollar home price is like the tip of a big iceberg” because soaring home prices also impact the cost of rental homes and apartments, contributing to the ongoing homelessness crisis in California, he explained. Manville also spoke to Bloomberg News about one approach to tackling the affordable housing crisis: building more duplexes, triplexes and similar “middle housing” options. Decades ago, when there was a lot more empty land, large areas were zoned for single-family homes. “There was always the next valley to go to,” Manville said. “Now, that’s much harder.”

Read the Guardian story
Read the Bloomberg story

 

Loukaitou-Sideris on Gentrification Near Transit

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Urban Planning Professor Anastasia Loukaitou-Sideris was featured in a Smart Cities Dive article about the growth of transit-oriented development in cities across the country. As transit ridership has declined and housing costs increase, cities have looked to mixed-use projects near bus and rail stations. This type of transit-oriented development aims to provide more housing and retail while making it easier for people to take trips on public transportation instead of by car. However, Loukaitou-Sideris pointed out that such developments sometimes replace affordable housing with luxury units where residents don’t use transit. According to her research, neighborhoods with transit stations are more likely to be gentrified than neighborhoods without. “What we are arguing is not to stop transit-oriented development because it can bring along the positives, but finding ways through policy to protect existing residents of these neighborhoods from displacement,” Loukaitou-Sideris said. She suggested anti-displacement measures such as rent control and eviction assistance for tenants.

Read the article

Luskin Housing Scholars Weigh In on California’s Crisis

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A UCLA Newsroom article on how to tackle California’s affordable housing crisis cited several scholars from UCLA Luskin. Associate Professor of Urban Planning and Public Policy Paavo Monkkonen sees the housing crisis as a combination of “unaffordability, instability and inability to house” and has urged the state to “use many levers to push cities to allow more new housing.” Los Angeles Initiative Director Zev Yaroslavsky has cautioned against changes that fundamentally undermine the character of neighborhoods. He suggested increasing zoning capacity but allowing the city to decide where it should take place. “You don’t need to destroy communities,” Yaroslavsky said. Associate Professor of Urban Planning and Public Policy Michael Lens highlighted the urgent need for more money for permanent supportive housing. The article was written by Jim Newton, editor of UCLA’s Blueprint magazine, who concluded that the competing arguments “reflect and shape California’s ongoing and urgent search for ways to adequately house every resident of the state.” 

Read the article

Monkkonen on UCLA as a Model for Affordable Housing

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Associate Professor of Urban Planning and Public Policy Paavo Monkkonen spoke to Curbed about UCLA’s new guaranteed student housing plan. UCLA is the first University of California school to offer four years of housing for first-year students and two years of housing for transfer students. Meanwhile, the city of L.A. continues to struggle to produce affordable housing. According to Monkkonen, the biggest lesson to be learned from UCLA is the power of consolidating everything from planning to financing in one department and essentially becoming a public-housing developer. “UCLA develops its own land-use plan and then executes capital programs like the construction of dorms,” Monkkonen said. “Proactively planning for housing to be built rather than setting up rules and waiting to see if developers build or not is the kind of paradigm shift we need.” He also recommended expanding affordable housing closer to schools in order to benefit students, families, teachers and staff.

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Shoup on How to Improve Sidewalk Accessibility

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Donald Shoup, distinguished research professor of urban planning, authored a Bloomberg CityLab article about the slow progress to repair broken sidewalks in Los Angeles. Roughly 40% of L.A. sidewalks are broken, a violation of the Americans With Disabilities Act, according to a 2016 class-action lawsuit won by disability rights advocates. Los Angeles is required to spend $1.4 billion over 30 years to fix its sidewalks, but in the first five years of the program, less than 1% have been repaired. “Fortunately, there’s a simple way to ensure that sidewalks will be accessible,” Shoup wrote. “Cities can require that the sidewalk abutting any property must comply with the Americans With Disabilities Act when the property is sold.” Property owners would not have to pay or do anything until they sell their property, and the city can subsidize sidewalk repairs for low-income owners. “A pay-on-exit program may be the fairest and most politically painless way to keep sidewalks accessible,” Shoup concluded.

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Callahan on the Future of High-Speed Rail

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Colleen Callahan, deputy director of the UCLA Luskin Center for Innovation, spoke to the Washington Post about federal funding for new infrastructure projects and the future of rail transit in the United States. President Biden has signed a trillion-dollar infrastructure bill into law, and $65 billion is earmarked for rail projects. However, Callahan expressed doubt that the new package will go toward high-speed rail. “This package is not the silver bullet for the bullet,” Callahan said. “We won’t see much of it go to high-speed rail.” Bullet trains are popular around the globe and can unite cities hundreds of miles apart without excessive carbon emissions. However, the federal funding for rail projects is expected to go largely to the federally owned Amtrak. Many transportation experts predict that Amtrak will use the funding to address problems on its traditional lines instead of investing in new high-speed rail projects.

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Wasserman Cautions Against Overinvesting in Rail

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Jacob Wasserman, research project manager at the UCLA Institute of Transportation Studies, spoke to the Los Angeles Business Journal about the explosion of rail construction projects in Los Angeles. Four major rail projects are currently under construction in L.A. County, with several more projects in the pipeline. “For the modern era, this is a huge investment in rail transportation on the scale rarely seen in recent memory,” Wasserman said. However, rail transit ridership has been steadily declining in L.A. County, a trend that was exacerbated by the COVID-19 pandemic. As a result, Wasserman cautioned against overly investing in rail. “Remember, the vast majority of people taking transit in L.A. County take the bus, so the rail system has drawn a disproportionate amount of funding and resources,” he said. “Rail should be reserved for those instances where the congestion and density are high enough that there’s a demonstrable time savings over other modes of travel.”

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Manville on Opportunities Created by SB9

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In a recent Bloomberg column, Associate Professor of Urban Planning Michael Manville weighed in on SB9, a new California law that allows people who own single-family homes to add additional units on their property by constructing a new building or turning an existing house into a duplex. SB9 creates opportunities to make land more valuable in areas where housing is in great demand by allowing small-scale projects and giving homeowners a financial stake in new housing. Manville said that many of those who oppose SB9 don’t want to see their neighborhoods change, in spite of the financial advantages of the new law. “They like their neighborhood, they are risk averse, and they don’t want to see it change,” he said. However, Manville also noted that many historic L.A. neighborhoods include attractive duplexes and fourplexes from the early 20th century. “If more of the city just looked like that, we probably wouldn’t have a housing crisis,” he said.

Read the column