Master's in real estate alumna Kaitlyn Fondano uses MRED experience to build better communities

Kaitlyn Fondano née Mulhollan (MRED '16), Director of Development for Specialized Real Estate Group, draws on her holistic education from W. P. Carey to help create healthy, interconnected living communities in Northwest Arkansas.

Kaitlyn Fondano née Mulhollan (MRED '16), Director of Development for Specialized Real Estate Group, draws on her holistic education from W. P. Carey to help create healthy, interconnected living communities in Northwest Arkansas.

The W. P. Carey School of Business interviewed Fondano to learn more about her ASU MRED experience, what led her to a career in real estate development, and what's next for the industry.

Why W. P. Carey?

Fondano began her career in construction management, which had also been the focus of her undergraduate studies at ASU. But she soon found herself drawn to real estate development and the higher-level decisions involved.

"It was an opportunity to be at the head of the table and be the one responsible for influencing and informing both the design and the project type, as opposed to otherwise being somewhat reactive to it on the construction side," she says.

The MRED degree program at W. P. Carey allowed Fondano to further her education in the area she was most passionate about. She appreciated the transdisciplinary approach of the program, which is a partnership between W. P. Carey School, Sandra Day O'Connor College of Law, Herberger Institute for Design and the Arts, and Del E. Webb School of Construction — all highly regarded schools within ASU.

Fondano also enjoyed the structure of the nine-month immersive, applied program. "It facilitated me making a transition in my career, being able to step away and get to a point to then quickly reengage in a new field," she says.

While at W. P. Carey, the big-picture approach that initially drew Fondano to real estate development was always an emphasis, especially from Mark Stapp, Executive Director of the MRED program.

"The direction and precedence that [Stapp] gave us in each of our classes was that our role as developers was to be an integrator," Fondano says. "Our job was to bring together the right team, make the mission and objectives of each of our projects clear, and then to facilitate the execution of that vision."

Why real estate?

The MRED program at W. P. Carey places a strong emphasis on ethically and socially minded development, and this aspect of the industry is a passion for Fondano. In her current role with Specialized Real Estate Group, she focuses on creating healthy homes in the communities that Specialized serves.

"We build homes that are connected to the community in which they are built – our projects emphasize knowing your neighbor, access to outdoor amenities including parks, trails and conservation areas — and are served by the surrounding local businesses."

This mission for healthy and connected communities is one that Fondano and Specialized are always striving towards. She believes that keeping these values in mind is vital for all real estate development.

"We feel strongly that it strengthens the fabric of the community. Infill development projects allow for our residents to have easy access to community services, workplaces, and transportation - that access and quality of life is what we're all striving towards," she says. "Connecting people with local businesses, with nature, and with each other is a great opportunity, and I think that's relevant in any city in which you're developing."

What's next?

Despite the supply chain issues that have faced the real estate industry, and countless others, due to the COVID-19 pandemic, Fondano sees a bright future for the real estate industry, especially if the emphasis on sustainability and socially minded development continues to grow.

"From our perspective, we have a real opportunity to impact the communities in which we work," she says. "Considering place, making thoughtful design choices, and the obligations we have to each of those communities and neighborhoods comes as a responsibility of ours through each development."