Innovative Products, Spaces and Technology in Commercial Development

The course's core objective is for students to explore the economic drivers and outcomes of innovation within the context of real estate development. Technological change, innovation and disruption are important dynamics within real estate development. Students will discover an array of innovative real estate development opportunities in buildings, land and technology space. The class focus is on pollinizing technological innovation itself and adopting economically sound innovation in mixed use development. 

Over the span of the module, the class will look at the economic foundations of innovation and its application to real estate; the financial implications of innovative products; a survey of existing innovative products just entering the real estate development pipeline; and some of the challenges faced by innovators in the real estate innovation domain. 

Course participants will sample the real option and financial performance of innovations in three domains of space: buildings, land and technology space. Just some of the innovations in buildings we will explore are green buildings (LEED, Energy Star, BREEAM, ect.), data centers, fiber-lit buildings, industrialized food production (urban food farms), micro-units, cell tower leases ect.. Secondly, we will explore innovations in land development like energy production and digital storage facilities. Lastly, we will look at new domains, microwave rights, air rights, and cable leasing. 

This course is designed as a supplement to enhance student creativity in courses like Real Estate Development Studio and Tools for Analysis. Class is designed to be fully participatory and students will be evaluated on a group proposal and presentation focusing purely on the types of innovative products one would like to incorporate into mixed-use developments.