News

Center for Real Estate grows future leaders with Masters in Real Estate Development
Author: School of Business Administration
Posted: June 1, 2015

The Center for Real Estate at Portland State University continues to blaze the trail for future commercial real estate developers. Last month the Center hosted its 10th annual conference at the Marriott Hotel in downtown Portland. The topic, Millennials: A New Force in Real Estate drew over 700 attendees.

Conference panelists discussed ways in which Millennials are distinct from Generation X and Baby Boomers in their values, lifestyle and finances, and how this is affecting the real estate market. Research and trends show that Millennials’ buying decisions will shape the future of real estate.

Millennials carry higher debt due to student loans, which influences if and when they will buy real estate. In terms of lifestyle and values intersecting with their sense of place, Millennials seek out accessibility and community. They focus on shared public spaces, authentic experiences and the ability to bike and/or walk to work and shopping. Trends indicate that Millennials spend more money on entertainment and food, show more interest in city dwelling, and put less emphasis on cars, and have less capital to invest in real estate.

Keeping in mind Millennials’ lifestyle and financial outlook, and how their values will influence forthcoming development, the industry needs real estate professionals who understand and capitalize on these factors.

The Portland State University Center for Real Estate prepares leaders for the commercial real estate industry who will be proactive and responsive to the needs of Millennials and their future properties. The real estate market is rapidly growing due to social, economic, and environmental changes. As global populations migrate to urban areas, development projects will burgeon in the face of diminishing physical space and environmental susceptibility. Developers are seeking forward-thinking leaders to envision and execute an understanding of sustainable urban growth and community development.

The real estate field is expected to experience 14% faster employment growth, according to the U.S. Department of Labor. It’s time to take your career to the next level in real estate. Earning a Masters Degree in Real Estate Development (MRED) from Portland State University positions real estate professionals to be on the cutting edge of the dynamic landscape of commercial real estate. You’ll learn innovative design and best practices of urban development. Thanks to Portland’s commitment to community development, progressive land use policies, and livability, the region serves as a laboratory for the Masters in Real Estate Development program. PSU’s program combines theory and real-world training to elevate real estate professionals as premier leaders in sustainable urban development.

“Portland State’s MRED program provides students a solid real estate education, hands-on experience through case studies and tours of developments in Portland, and access to key real estate owners and managers, “ said Julie Gibson, Executive Director, Center for Real Estate.

But don’t just take our word for it. Bisnow recently named Portland State’s Masters in Real Estate Development one of the top 5 programs on the West Coast. The criteria included cost, number of students enrolled, year established, and length of program. Bisnow noted our program’s connection to the School of Business and how that creates a multidisciplinary approach to real estate development. As Bisnow recognized, the Masters in Real Estate Development program at Portland State University actualizes industry leaders with the knowledge and leadership to create sustainable, healthy communities.