Real Estate, Society, Environment
This course examines the emerging context for real estate practice worldwide that measures success not solely by the financial bottom line but also by achievement of beneficial spatial, social, and environmental outcomes. Real estate developers, investors, owners, lenders, and public agencies globally are applying “environmental, social, and governance” metrics (ESG) to their investment and development decisions, even as some observers are skeptical about how effective or genuine this move is. Students will learn how transnational, national, and local legal mandates and market-driven preferences for sustainable and inclusive real estate can be viewed as positive, generative opportunities rather than constraints to be overcome. Understanding and operationalizing social and environmental principles can lead to a more successful and meaningful real estate practice whether originating in private for-profit, private not-for-profit, or public sectors.