16005 Introduction to the Property Development Process

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2025 is available in the Archives.

Description

This subject is an introduction to the nature of land, property, and property markets, with a focus on the different property valuation methods and the property development process. The methods used for property valuations and preparation of valuation reports and an introduction to cash flow analysis and feasibility studies are covered, with the related concepts and issues found in property development analysis identified. The property development process and issues associated with obtaining a development approval within the planning framework are discussed.

Subject learning objectives (SLOs)

Contribution to the development of graduate attributes

The term CAPRI is used for the five Design, Architecture and Building faculty graduate attribute categories where:

C = communication and groupwork

A = attitudes and values

P = practical and professional

R = research and critique

I = innovation and creativity

Course intended learning outcomes (CILOs) are linked to these categories using codes (e.g. C-1, A-3, P-4, etc.).

Teaching and learning strategies

This subject is presented in a weekly 3-hour face-to-face format and incorporates a range of teaching and learning experiences. Various modes of presentation are used in the sessions including traditional lectures, integrated active learning exercises, and in-class quizzes (Assignment 1) followed immediately with discussion and formative feedback (to ensure all students have accurately and fully understand key concepts, and where applicable, how to apply them), use of flipped learning (which includes pre-class reading and exercises to prepare for in-class discussions and exercises), and a scheduled site visit where you will be able to experience and discuss on-site the principles you are learning in class.

The Planning and Site Opportunities Exercise (Assignment 2) will require students to prepare a researched response to questions in the assignment brief and come to the Saturday Workshop prepared with key findings and recommendations to their group (related to specific tasks for which they have been assigned the lead role). Groups will deliver a briefing presentation to the instructor(s) during the workshop and will receive formative feedback on their key findings and ideas. The information developed by each group in Assignment 2 will support a recommended development proposal (Assignment 3). Students are encouraged to discuss problems with peers throughout the subject by raising issues in class and/or by asking questions via the subject page on UTS Canvas.

A minimum of 80% attendance is required, as per UTS guidelines, and attendance is taken weekly. You must be in class to participate in the weekly in-class quizzes. Quizzes cannot be taken at a later date, as answers will be discussed in class. If you are sick and can provide a doctor's note, or have some other excused absence that can be documented per UTS guidelines, please submit a special consideration request through the UTS My Student Portal: (https://www.uts.edu.au/current-students/managing-your-course/classes-and-assessment/special-circumstances/special-consideration). If approved, you will miss the quiz and your remaining quizzes will be weighted equally; your excused absence quiz mark of '0' mark will not be factored into the averaged quiz mark for Assignment 1. Similarly, the Feasibility & Simulation Exercise workshop cannot be rescheduled and requires a commitment from all students at the allocated appointment time. Please note, missing this session equates to more than 20% absence for the subject so it is essential that you plan your schedule to attend.

Delivery will be face-to-face learning at the allocated teaching spaces at UTS facilities. Note, arrangements are subject to any COVID-related guidelines or requirements prescribed by UTS or relevant authorities.

Assessment

Assessment task 1: Weekly quizzes

Assessment task 2: Due Diligence Package

Assessment task 3: Property Development Feasibility & Simulation Assessment

Minimum requirements

A minimum of 80% attendance is required, as per UTS guidelines, and attendance is taken weekly.
The DAB attendance policy requires students to attend no less than 80% of formal teaching sessions (lectures and tutorials) for each class they are enrolled in to remain eligible for assessment.