Real Estate Development Boot Camp
Real Estate Development Boot Camp will help you learn the fundamentals of developing affordable housing in Michigan, equipping you with the tools you need to transform your community. Whether you are new to the industry or could use a refresher in current trends and standards, learning the fundamentals of this complex industry can play a major role in the success of a project.
*Individual members are not eligible for the member rate on trainings. Learn more about the different levels of a CEDAM membership and the benefits associated with them here.
- When: June 3-7, 2019
- Where: Kettunen Center in Tustin, Michigan
- The 2019 draft agenda will be available soon. It will differ slightly from the 2018 draft agenda.
What is Involved in the Training?
2019 Lead Trainer: Kirsten Elliott, Vice President of Development at Community Housing Network (CHN)
- Day 1-3: Curriculum
- Day 3-4: Group Work
- Day 5: Formal Presentations to Funding Panel
Led by renowned industry professionals from CEDAM partner organizations, these industry leaders are equipped to position you in the field and leverage the work that you do with both broad-based and Michigan-specific development fundamentals.
- Explore the order of activities in which real estate development usually occurs
- Understand at which points decisions must be made in order to move forward on a project
- Provide a flow chart of the CD real estate development process
- Understand basic pro forma development and how affordable real estate financing works, including tax credits
- Explore the necessity of market knowledge in the real estate development process
- Understand the components of a housing market study and market analysis
- Identify ways of gaining marketing information at little or no cost to the organization
Site Selection & Control
- Gain an understanding of the site characteristic that are notable when selecting a site for development
- Understand the site control process
- Review methods of site control and receive model site control documents
Whether you come with others from your organization or participate independently, this training is designed to be collaborative and practical. After the curriculum is presented over the first two days, you are put into groups with peers to prepare a project and demonstrate your understanding of the material while bringing your own experiences, skills and backgrounds to the table.
Developing a Concept and Team Objectives
- Understand the components of a concept and team for a piece of real estate
- Determine who should be engaged and when
- Practice developing concepts and creating a team for real estate development projects
Formal Presentations to Funding Panel
On the final day of the training, each group presents to a funding panel, made up of representatives from various lending institutions and nontraditional funders. Past panelists have included PNC Bank, FHLBI, Cinnaire (formerly Great Lakes Capital Fund), MSHDA, OppFund and others. Panelists provide constructive feedback and pointers for how best and feasibly prepare a project.
Final Project Objective
- Practice putting the above learning objectives to use in a comprehensive case study
- Practice presenting a project in front of a panel of funders and real estate experts
Who Should Participate?
This training is intended for a beginner or intermediate level of understanding of the real estate development process working in the community-based economic development industry.
What is Included in the Cost?
The cost for attendance includes training, lodging (hotel-style room with single occupancy) and meals. You must attend the entire training, including the overnight stays. Early arrival is available for a nominal fee. Please note, there are NO refunds available for this boot camp.