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This course provides a rigorous treatment of real estate development from the entrepreneurial perspective. The course is organized around the four dimensions of real estate: economic/market, financial, legal/institutional, and physical. The last part of the course focuses on vibrant centers. The course emphasizes risk management and the inherent uncertainties of real estate development. The ability to manage risk, solve problems creatively, and attend to details are the hallmarks of successful developers. Students will have the opportunity to focus on a topic of interest relevant to real estate development or vibrant centers.