Introduction to the Quadruple Bottom Line of Real Estate Development

The course meets Monday, April 6 to Monday, April 27, 2026 from 12:30 - 1:30 p.m. ET. The course will be hosted on the Canvas platform and once registered you will receive login information to obtain the course materials. You will receive a certificate upon completion of the course.

Session 1 — April 6, 2026

People: Intentional Social Equity, Affordability, Health & Well-Being

his week we study how social equity, affordability, health and well-being can be supported by the buildings we inhabit through intentional decisions made by developers and their partners. We will reflect on the segregated past of the industry and the social disparity that has resulted. We will study how consumers of real estate drive what developers build; through demand, demographics and trends in addition to public policy, industry practices and the goals of developers and communities.

Session 2 — April 13, 2026

Planet: Radical Sustainability & Resiliency

This week we study how responsible development demands radical sustainability as the impacts of climate change and globalization have led the industry to create more resilient and adaptable cities, communities and buildings.

Session 3 — April 20, 2026

Profit: The Basics of Real Estate Finance

This week focuses on the basics of real estate finance to build vocabulary and knowledge of how developments are valued, leveraged, invested in and evaluated. We will study how the intentional inclusion of the quadruple bottom line are interwoven within financial assumptions and are the developer’s compass for decision making.

Session 4 — April 27, 2026

Placemaking: Development Outcomes that Serve the Community

The design of the built environment is crucial to the future of our communities. Placemaking is about how developers integrate community input, work with the existing context and build buildings and amenities that will positively influence the future of the community as a whole. How can developers transform project amenities into community assets and what are the benefits of creative placemaking? 

Howard Ways, III
Associate Professor, Program Director

Howard Ways, III is an Associate Professor and Program Director of the MS in Real Estate Development program. He has nearly 30 years of experience in urban planning, real estate development, affordable housing and architecture and has managed over $900 million of real estate and public facilities projects.

Hao Li
Real Estate Strategy Advisor, McKinsey & Company

Hao Li is a real estate strategy advisor at the global consulting firm McKinsey & Company, specializing in real estate and urban development strategies. His expertise integrates architectural vision with market insights to create dynamic, sustainable urban real estate assets. Hao has previously taught an urban design studio at Thomas Jefferson University. He is a licensed architect and LEED Accredited Professional. He holds a Master of Architecture from Yale and an MBA from Northwestern University.

Nino Cutrufello
Partner and CFO, Callahan Ward

Nino Cutrufello is an experienced real estate developer, financial analyst, and business operations leader with over two decades of success delivering award-winning residential and mixed-use projects. As a founding partner and CFO of Callahan Ward, a Philadelphia-based development firm, Nino has overseen the planning, financing, and construction of more than 500 residential units and projects totaling over $150 million in value. His work has been recognized nationally, earning multiple AIA National Housing Awards and features in The Philadelphia Inquirer, NBC’s Open House, and ARCHITECT Magazine. Known for his collaborative approach, Nino specializes in project budgeting, financial modeling, and navigating complex urban development from land acquisition through occupancy.

In addition to his development expertise, Nino is a passionate educator and frequent guest lecturer on real estate development, architecture, and construction. He has spoken at institutions including the University of Pennsylvania, Auburn University, and Thomas Jefferson University. Nino brings a practical, hands-on perspective to teaching, drawing directly from his professional experience to help students understand the financial, regulatory, and design challenges of real-world projects. He holds a Master’s Degree in Real Estate Finance and Investment Analysis from New York University and a Bachelor’s Degree in Urban and Environmental Planning from the University of Virginia.

For questions and to learn more, please contact Melissa Raffel at Melissa.Raffel@jefferson.edu.