The Urban Mass Transportation Association promotes Commercial real estate development projects in and adjacent to transit facilities as a means of generating additional revenues to defray part of local transit agency operating cost. Transit-related real estate development, or joint development, provides unique financial benefits for investors and equity owners, whether for the public or private sectors. Disadvantaged business entrepreneurs (DBEs), defined as minority- and women-owned firms and minority/women entrepreneurs, have not participated as fully as possible in the equity ownership opportunities offered by joint development projects. This manual attempts to encourage participation by introducing DBEs to the benefits and risks of commercial real estate development and the specific requirements of joint development projects. A self-teaching guide, it describes the unique characteristics of joint development projects, explaining in detail the underlying process, with special attention paid to participant roles and policies. It provides a basic introduction to financial planning so DBEs can evaluate their financial readiness to pursue equity ownership opportunities in joint development projects. The manual provides an analytical framework in which to apply the technical tools commonly used in analyzing a transit-related real estate investment opportunity. The appendixes include case studies highlighting key issues associated with joint development projects, a list of sources of information on commercial real estate, an example of a local transit agency prospectus, a personal financial profile questionnaire, a glossary of terms, and a bibliography. (Author/LHW)