SEMESTER: Spring 2020

COURSE NUMBER: EWMBA 285.1

This course is dual-listed with the Full-time MBA program

COURSE TITLE: An Interdisciplinary Approach to Land Development and Investment

UNITS OF CREDIT: 3 units

INSTRUCTOR: Bill Falik

EMAIL ADDRESS: Billfalik@gmail.com
MEETING TIME: Wednesdays, 6:25pm-9:20pm

ABSTRACT OF COURSES’S CONTENT AND OBJECTIVES:

This is an excellent time to learn about, and ultimately invest in and plan, real estate development. This course is designed as an interdisciplinary approach for business, law, planning, public policy, and engineering students to learn about every aspect of the land development process, focusing substantially on development in California. In this regard, this course goes toward satisfying the requirements of the Interdisciplinary Graduate Certificate in Real Estate (IGCRE), offered through the graduate programs at the Haas School of Business, College of Environmental Design (including MRED+D), and Berkeley School of Law. The primary focus of this course is on actual practice rather than theory. Although the course will focus on real estate and land investment, the thrust will be on deal making, strategic thinking, and negotiation, whether it be on acquisition, financing, environmental review, entitlement, obtaining community support, or ultimate disposition of a successful project. Law students will learn to evaluate business risks, and business, planning, public policy, and engineering students will gain a conceptual framework for understanding legal issues which are critical to the real estate development, land entitlement and deal making process. The course will also introduce the use of green technology and the inclusion of affordable housing in the development process. On a weekly basis, it will be mandatory for students to participate in interdisciplinary study groups to work together to resolve real-life real estate problems. In other words, students (who will be randomly assigned to a balanced group comprised of one or more law, business, planning, public policy, and engineering students) will meet via skype, google chat, teleconference, or ideally in person to discuss and prepare the responses to the weekly study questions.  Each group member will take turns leading their group each week; however, each group member will be responsible for participating regardless of their turn at lead. In the past, many of my students have commented that this collegial interdisciplinary approach was one of the most valuable aspects of the course. The course grade will be based in part upon study group and class participation and primarily upon take-home written essays assigned at the end of the semester. There will be frequent guest lecturers who are some of the leading experts in the deal-making, real estate planning, land-use, environmental, and investment fields. Topics which will be covered include:

· acquisition strategy and documentation;

 capital formation and deal structure;

 legal entity selection and use of LLCs;

 developing a creative and sustainable land plan;

 smart growth vs. greenfield development;

 affordable housing as a project component;

 California and federal environmental and Endangered Species laws;

 financing critical infrastructure;

 responding to litigation, initiatives, and referenda and gaining community support;

 vesting entitlements through Development Agreements;

 designing an exit strategy; and

 tax issues involving dealer vs. investor status.

BIOGRAPHICAL SKETCH:  Bill Falik has practiced land use, real estate, and environmental law and mediation in Northern California for the past 46 years and during this period he has pursued a dual career as attorney and real estate developer.  He graduated magna cum laude from Cornell University in 1968 and from Harvard Law School in 1971, where he was an editor of the Harvard Law Review. During his legal career, Mr. Falik has been a partner in three San Francisco law firms in which he chaired the environmental and land use law departments.  Currently, in addition to serving for the past 13 years as an Adjunct Professor at Berkeley Law School and a member of the Professional Faculty at Haas School of Business, he is the Managing Partner of Westpark Communities, which developed 1,500 acres in Roseville, California and planned and entitled 4,300 residential units which were sold to the three largest builders in the United States.  In addition, as CEO of Live Oak Enterprises, he developed the Whitney Oaks master planned community in Rocklin, California with a championship Johnny Miller designed golf course and 2,000 homes. In addition, Mr. Falik is a mediator and is actively engaged in non-profit work.

This is the fourteenth year in which Mr. Falik has taught this course, in addition to coaching the UT Austin Real Estate Team competition, together with Professor Nancy Wallace and Abigail Franklin, and in November 2018, their team won the UT Austin Real Estate Competition. Also, he is coaching the Golden Shovel Real Estate competition against Stanford, and in May 2019, Professor Falik’s team won the Golden Shovel for Cal for the second straight year.