For more information, contact: Robert Krueger at 202-624-7051

WASHINGTON (June 12, 2015) – The Urban Land Institute (ULI), a global research and education organization dedicated to leadership in land use and creating thriving, sustainable communities, today released the fifth edition of one of its all-time best-selling titles, Real Estate Development: Principles and Process. Since the first edition was published in 1991, the book has served as one of the leading college textbooks for courses on real estate development, urban planning, architecture, and real estate finance.

Real Estate Development is written primarily for an academic audience seeking a complete look at the complex and interdisciplinary decision-making environment of real estate development. While serving as a definitive resource in the classroom, the book is also intended to be useful to experienced professionals with an interest in real estate, including developers, city planners, legislators, regulators, corporate real estate officers, land planners, lawyers specializing in real estate law, leasing agents, among many other real estate professions.

The book is based on an eight-stage model, explaining the nuts and bolts of real estate development, including ideas, feasibility, finance, contracts, and construction through marketing and asset management. The new and more concise edition retains the framework of the first edition, but has been updated to reflect the changing global economy, emerging industry trends, and how real estate practice has evolved.

“Much has changed in real estate since the fourth edition of this text was published in 2007,” said co-author Adrienne Schmitz. “While the fifth edition continues to rely on lead author Mike Miles’s eight stage model as its basis, content has been updated to reflect contemporary thinking on finance brought about by the Great Recession, and other changes in development practice, such as the increasingly global financial markets and a greater emphasis on sustainability.”

Additional highlights of the new edition include:

• A new comprehensive finance chapter covering where the money originates, how to conduct financial calculations relevant to development, and interpret results.
• Updated profiles of developers and other professionals in real estate development.
• Two new case studies covering the Shortbread Lofts student housing development in Chapel Hill, North Carolina and the Irvine Tech Center in Irvine, California.

In addition to Miles and Schmitz, real estate and development expert and former ULI Orange County Chairman, Laurence M. Netherton, served as an author on the new edition.

Real Estate Development: Principles and Process (ISBN 9780874203431) is available through ULI’s online bookstore for $124.95. ($149.95 in Canada) and ULI members receive a 25-percent discount; to order copies, go to bookstore.uli.org or call 1-800-888-4741.

NOTE TO EDITORS AND REPORTERS: To obtain a complimentary copy of the publication and request an interview with one of the authors, contact Robert Krueger at 202-624-7051.

About the Urban Land Institute
The Urban Land Institute (www.uli.org) is a nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the Institute has more than 34,000 members worldwide representing all aspects of land use and development disciplines.