Center for Real Estate
The Center for Real Estate (MIT/CRE) provides an intellectual focus for research on issues affecting the real estate industry. Faculty associated with the center are drawn from the departments of Architecture, Urban Studies and Planning, Civil and Environmental Engineering, Economics, and the MIT Sloan School of Management.
MIT/CRE’s research initiatives cover a range of disciplines and areas of application within real estate, and all offer synergy between the real world of practice and MIT's faculty and research capabilities. Home to five labs, 12 faculty and lecturers, and three postdoctoral researchers, the center is as diversified as it is innovative.
The Urban Economics Lab (headed by Professor Albert Saiz) focuses on studying economic activity and economic trends in cities. The Lab uses analytical models and big data to understand what makes cities thrive or decline, how housing values are formed and oscillate, and how local politics and social phenomena manifest in the context of increasing global urbanization.
The Commercial Real Estate Data Laboratory (headed by Professor David Geltner) provides a space for quantitative tools for measuring commercial real estate performance. The focus of research includes investment performance, management or operational performance, and environmental or social performance.
The Samuel Tak Lee Real Estate Entrepreneurship Lab (the STL Lab, headed by Yu-Hung Hong), which is managed jointly by DUSP and CRE, aims to educate future entrepreneurs and thought leaders from diverse backgrounds in the field of socially responsible real estate development. Guided by a framework of creating, exchanging, and disseminating knowledge, the STL Lab uses multidisciplinary programs that synergistically promote socially responsible real estate entrepreneurship globally, with a particular focus in China. Some of these initiatives include, for example, funding advanced MIT faculty research, providing graduate fellowships, building case study materials, developing massive open online courses (MOOCs), hosting conferences and workshops, building educational real estate games, and facilitating exchange initiatives with Chinese universities and other academic and research institutions. This pragmatic and cross-disciplinary approach works within and beyond MIT to cultivate a truly global conversation about innovative and socially conscious development.
MIT/CRE encourages interaction between members of the Professional Certificate in Real Estate Finance and Development, which provides an unparalleled opportunity for professionals and executives to obtain state-of-the-art insights and skills about the key factors and investment strategies driving real estate markets. By joining our professional program, students will further their understanding of the real estate development process.
The center is supported in part through corporate partnerships and individuals active in the real estate industry.
The center is also home to the Master of Science in Real Estate Development (MSRED) program, an interdepartmental degree program that combines education in design, planning, construction, management, finance, development, and marketing. It prepares students to assume positions of responsibility in private real estate companies, financial institutions, government agencies, nonprofit development organizations, and consulting firms. The program requires 11 months of intensive study.
For further information about the MIT/CRE, contact Albert Saiz, director. For more information about the MSRED program, contact Patricia Nesti, MSRED program coordinator, Center for Real Estate, Room 9-343.