Higher-level learning pairs with real estate

In the GTA we not only have the largest home-building market in the country, we have the only academic program in Canada geared to students wishing to specialize in one or more areas of the development and real estate industries.

It's called the program in real property development and it's been offered by the Schulich School of Business at York University since the early 1990s.

Our industry needs graduates with the skills and expertise delivered by this MBA program, which is aimed at those who want to pursue careers in the management and executive levels of the development, home building, real estate and related industries.

"The need for higher-level learning in the real estate industry is not a luxury, it's a necessity," says George Carras, president of RealNet Canada Inc., a leading provider of real estate information services.

"The role real estate plays in our greater community is growing in importance. As an investment class, it's probably the most important one I think we have today," says Carras, a member of the advisory council to the program in real property development.

In year two of their MBA studies, Schulich students have the option of taking courses specializing in the development, investment and finance side of real estate. Graduates receive a diploma in real property development as part of their MBA degree.

Andre Kuzmicki, executive director of the real property development, says it has had two critical hallmarks. The curriculum is rooted in the practical, real-world needs of businesses active in real estate and development, plus strong ties are maintained with the industry through an advisory council made up of industry leaders such as Peter Gilgan, president and CEO of Mattamy Homes and Julie DiLorenzo, president of Diamante Development Corp.

They are among more than 30 business leaders and executives who sit on the program's advisory council. Industry practitioners are guest speakers at lectures and classes. As well, most of the instructors come from the industry and many are still active in it.

There's a course in real estate law, one on property finance and investment, another on structuring property transactions and another on managing the development process, among others.

"The industry needs people who have a broad understanding of all the basic skills and disciplines that you get in a graduate level, business administration program," Kuzmicki says.

"What we are trying to do is essentially have the students learn from their exposure to people in the real estate industry.

In turn, industry people are increasingly looking at the students as a great talent pool when they need somebody. There's a lot of networking going on," Kuzmicki says.

Patrick Iaboni graduated from the program in 1994. Today, he's president of Berkley Developments Ltd., a Toronto-based company that builds and invests in new home and condominium projects.

Iaboni says he made solid contacts through the program and networking opportunities resulted.

"To this day I still do a lot of business with graduates of the program. Not only with people who attended when I did, but also with those who have graduated more recently," Iaboni says.

"We are getting that action happening where the industry looks to the school as the place to recruit people who have a strong interest in careers in the real estate business," Kuzmicki adds.