MIT REI Lab

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The first R&D lab for innovation in the built environment. Housed in the MIT Center for Real Estate (MIT/CRE), the REIL is a first of its kind.

The Real Estate Innovation Lab (REIL) is an MIT research lab for innovation in the built environment that links design, innovation and economic impact. The Lab’s primary objective is to create an intellectual community of multi-disciplinary researchers for developing academic work on innovation that impacts real estate and the development of the built environment.

07/08/2025

Now available!

Our new book - Value of Design: Creating Agency Through Data-Driven Insights - has just been released, and we couldn’t be more excited to share our insights on how design shapes value in New York City’s real estate and public realms.

The foundation for this work was developed at the MIT Real Estate Innovation Lab, where years of interdisciplinary research helped establish the analytical tools and methodologies that underpin the book’s core argument: that design is more than a matter of taste—it’s a source of measurable value.

Bringing this book to life has been a collaborative effort, and we are deeply grateful to the many individuals who contributed their time, resources, and expertise: To for believing in an unorthodox manuscript, for their incredible visuals and ,whose sharp eye elevated every chapter, and RCA for providing the data, to and for their generous support, and to every supporter who helped complete our last-mile delivery.

Check out our link(s) in bio to learn more and to purchase your copy today! 📖

02/09/2024

After three years of collaboration, our brilliant VOD research team has reached the final stages of publishing “Value of Design: Creating Agency Through Data-Driven Insights” with ORO Editions ! This book is an incredible compilation of case studies, graphics and innovative methodologies that illustrates the intrinsic value of design in the financial valuation and sustainability of buildings: a must-have for real estate developers, investors, designers, policy-makers and the general public.

In order to make this research accessible to a wide audience, including industry professionals, students and anyone passionate about the future of design and urban development, our team needs some additional funding. Please consider supporting this impactful work by visiting
https://gofund.me/fce6d3dc - no contribution is too small. As this is the final research of our Founder and Director, Dr. Andrea Chegut, we are especially eager to share this knowledge with the world. 📖 🌎

12/20/2022

We are devastated to announce the passing of the Lab’s Director and Co-Founder, Dr. Andrea Chegut. Her passion for creating a better world through a deeper understanding of innovation in the built environment, urban economics and real estate was reflected in her research, her courses at MIT and her short course Data Science in Real Estate. Andrea was a world-recognized thought leader who generously shared her knowledge at numerous conferences, seminars and events across the globe. She believed deeply in people, possibilities, creativity and truth. Working with students and problem-solving throughout the research discovery process was what Andrea enjoyed most throughout her professional career.
Inspired by her research and, ultimately, Kobi Yamada’s book “What Do You Do With An Idea?” Andrea co-founded the MIT Real Estate Innovation Lab in 2015. She enthusiastically led a team of interdisciplinary researchers in a variety of initiatives. Notable outcomes include the MIT Tech Tracker, a public analytics web tool that uses proprietary algorithms to provide insight into the real estate industry, and The Value of Design: Design Agency in a Market Economy, a book she co-authored with and scheduled for release in 2023. Research from the Lab has been cited in several academic journals as well as and , to name a few.

When she wasn’t wowing the world with her knowledge of data science, innovative technologies and financial economics, Andrea was often listening to Beyonce, reading everything from scientific journals to astrology forecasts, and emphasizing the importance of personal investing to people of all ages and income brackets. Andrea leaves behind her beloved husband, , their young daughter and greatest accomplishment, Athalia Fink, cherished cat and Lab mascot and countless friends, family, and colleagues who will deeply miss her brilliant spirit, remarkable mind, and steadfast loyalty. In memory of Andrea please consider a donation to the American Brain Tumor Association.

11/19/2021

"The Financial Impact of Street-level Greenery", coauthored by Tony Yang, Helena Rong, Dr. Andrea Chegut, Yuhao Kang and Fan Zhang, received an Outstanding Submission Award at the Sino-American Youth Dialogue Conference on Climate Change. The event, co-hosted by Tsinghua University and MIT, provided a platform for young adults from China and the U.S. to put forth ideas and suggestions around sustainable development for the recent UN Climate Change Conference (COP26). To learn more about this research please visit our website.

09/08/2021

What is the future of technology and innovation for real estate? And where can we look for meaningful insights to help us solve real estate’s biggest problems, such as climate change, automation and health? Today we launch the MIT Tech Tracker, an information and analytics web tool developed as an outcome of educational workshops with that scouts, analyzes and predicts the future of technology within the built environment. Using proprietary and ranking algorithms, this tool provides insight into where technologies come from, where they are going and their potential impact on real estate and the people who use, occupy and own space.

05/12/2021

The working world has just experienced the largest social experiment in history: millions of workers who once commuted to city areas are now finding themselves displaced, working from home. With the role of the office no longer seen as a fixed asset - but, rather, an overall “workplace experience” - what will become of these empty office spaces? And how will technology evolve to meet the needs of both employers and employees, or landlords and tenants, to enable productive creativity?
The lab’s CREtech Lead, Steve Weikal, joins and for an educational webcast to discuss the role of behavioral real estate economics in the shifting landscape of commercial spaces. To register for this free event please visit our link in bio!

02/11/2021

Our spring semester Data Science & Machine Learning for Real Estate class begins next *Tuesday, February 16th* from 12-2pm EST, and it's now a 12-credit course! Instructors Andrea Chegut, Irmak Turan and TA James Scott will cover the foundations of data analytics while introducing machine learning methods and their application to both real estate development and financial analysis. Look for course number 11.s966 when registering!

11/04/2020

Urban greenness is widely accepted as a source of ecological, social and cultural benefits. However, due to the difficulty of measuring human perception of street-level greenness, little research has been done on attempting to assess its economic value. Moreover, the existing real estate research that studies human-scale greenery focuses primarily on residential property transactions, rather than commercial real estate.
“The Financial Impact of Street-Greenery on New York Commercial Real Estate,” co-authored by Juncheng Yang, Helena Rong, Yuhao Kang, Fan Zhang and Dr. Andrea Chegut, is the first of its kind to study street-level greenery from a commercial real estate perspective. This research examines Google Street View images taken from April to October in New York City, identifying different density levels of greenness and pairing them with commercial office transactions and commercial office leases in the marketplace from 2010 to 2017. The results not only show a significant increase in transaction and rent premiums for properties containing higher green density levels - an incentive for developers to align with urban planners and landscape architects - but also illustrates the expanding role of image recognition in the measurement of asset values.

To learn more, visit our website post!

10/21/2020

In its simplest terms, Data Science is the process of extracting knowledge and insights from collected and counted experiences. In the real estate sector, it’s a key factor in analyzing property risks and opportunities, particularly as business and building owners face many challenges with financial and market uncertainty.
If you haven’t signed up for the fall session of the Data Science in Real Estate online short course, there are a few days left to do so. This six-week class teaches participants how to communicate data-driven value propositions, as well as how to code and what to look for in real estate data science. Designed for both non-technical industry professionals and those with an existing knowledge of data science who wish to gain more real estate domain knowledge, interactive videos and infographics are also included to keep things interesting and engaging. Visit our website under “Learn” for class and registration details!

07/20/2020

This summer the MIT Center for Real Estate researchers will hold a virtual Summer Seminar Series. There will be three seminars, each hosted by one of our research labs at the CRE, with each seminar focusing on a unique theme impacting the current built environment. The themes range from Covid-19’s effect on cities, to the dynamic shift in commercial property prices, and how we can advance in the Covid-19 pandemic’s aftermath through sustainable growth and development in our cities. The intent of these seminar themes is to engage our community for real estate and planning insights during these challenging times.
Scroll through for more details!

Address

77 Massachusetts Avenue
Cambridge, MA
02114

Website

http://realestateinnovationlab.mit.edu/

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