As part of the annual Steers Center for Global Real Estate Development Day, over 20 MBA students had the opportunity to participate in a workshop focused on the lifecycle of a real estate development deal and tour multiple properties across the Anacostia River in Washington, D.C.’s Ward 8. Led by Faizan Qureshi (MBA’20), vice president of development at Penzance, students learned the various phases of a development deal, from the initial acquisition of a property to what it takes to get a multi-family property zoned, entitled, and finally constructed. 

Through connections from alumna Jackie Powell (MBA’22), senior development associate at the Preservation of Affordable Housing (POAH), students toured The Asberry at Barry Farm – a newly built, five-story, mixed-use building containing 108 units of affordable rental housing for seniors aged 55 and above, 5,000 square feet of retail space, a landscaped courtyard, a wellness room, a fitness center, a community room, and a rooftop amenity space. The Asberry is part of the historic Barry Farm property that the POAH is developing in phases into a mixed-use site focused on affordable housing and energy-efficient buildings. Powell led the students through the property, along with the fascinating and important history of Barry Farms. 

The students then traveled to Congress Heights to explore the revitalization of the St. Elizabeth’s East campus, courtesy of Dan McGee (MBA’22), director of sustainability at Redbrick LMD – one of the master developers of St. Elizabeth’s East. Students learned about Redbricks’ plans for sustainable development in the area, along with touring Sycamore and Oak – the first mass timber project in Ward 8 and home to thirteen local minority-owned businesses.

“During our first ever development day, we were provided with a real estate development industry overview and project walkthrough that gave us an in-depth look at life as a developer,” said Yannick Arienbuwa (MBA’25). “The day continued with site visits to see projects in different phases of development while gaining valuable insights from industry experts. At Steers, we are fortunate to have such great industry connectivity here in Washington and are able to interact and learn from our MBA alumni.”