Professional Real Estate Development, 2nd Edition

Thoroughly updated, the Second Edition of Professional Real Estate Development explains the nuts and bolts of the real estate development industry. You will learn how to develop and manage five types of real estate products: land, residential, office, industrial, and retail uses. Focusing on small-scale projects, the authors show you practical methods for developing each major type of real estate, including feasibility analysis, design and construction, financing, marketing, and management. Photos, site plans, diagrams, and case studies provide examples of actual projects and how the process works. Information is specific and detailed, with costs, rents, and financing information included by product type. 414 pp.

Professional Real Estate Development, 2nd Ed. - Table of Contents:

INTRODUCTION
- What Is a Developer?
- The Book's Approach and Objectives
- Requirements for Success
- Paths for Entering the Development Field
- Finding the First Deal
- A Use Looking for a Site
- A Site Looking for a Use
- Improving the Chances of Successful Development
- Managing the Development Process
- Real Estate Cycles
- Getting Started
- Stages of Development
- Conclusion
ORGANIZING FOR DEVELOPMENT
- The Firm's Organization and Management
- Forming Partnerships
- Organizational Life Cycles
- Organizational Structure
- Compensation
- Strategic Planning
- Choosing Consultants and Contractors
- Locating a Consultant
- Selecting a Consultant
- Rates
- Working with Consultants
- The Design/Construction Team
- Architects
- Landscape Architects
- Land Planners
- Engineers
- Soils Engineers
- Environmental Consultants
- Surveyors
- Parking Consultants
- Asbestos Abatement Professionals
- Construction Contractors
- Real Estate Service Firms
- Market Consultants
- Appraisers
- Attorneys
- Title Companies
- Surety Companies
- Brokers/Leasing Agents
- Public Relations/Advertising Agencies
- Property Management
- Lenders
- Working with Lenders
- Sources of Financing for Real Estate Projects
- Conclusion
LAND DEVELOPMENT
- Overview
- Subdividing Land
- Land Development versus Building Development
- Project Feasibility
- Market Analysis before Site Selection
- Site Selection and Acquisition
- Market Analysis after Site Selection
- Regulatory Process
- Financial Feasibility Analysis
- Design and Site Planning
- Evolution of Subdivision Design
- Sensitivity to Design Issues
- Cluster Development, New Urbanist Plans, and PUDs
- Site Planning Process
- Site Information
- Streets and Street Hierarchy
- Site Engineering
- Platting
- Higher Densities
- Financing
- Obtaining Financing
- Joint Ventures
- Construction
- Marketing
- Marketing to Homebuilders
- Marketing Larger Parcels
- Direct Marketing to the Public
- Merchandising and Advertising
- Internet and Interstate Marketing
- Development Maintenance after Completion
- Protective Covenants
- Community and Condominium Associations
- General Advice
- Conclusion
MULTIFAMILY RESIDENTIAL DEVELOPMENT
- Overview
- History
- Product Types
- Getting Started
- Project Feasibility
- Market Analysis
- Site Selection
- Financial Feasibility Analysis
- Design
- Unit Mix
- Site Design
- Exterior Design
- Interior Design
- Design Issues
- Design Process
- Financing
- Construction Loans
- Permanent Financing
- Financing Issues
- Government Programs and Working with Nonprofit Organizations
- Construction
- Managing and Scheduling the Job
- Inspections
- Subcontractors and Draws
- Insurance
- Marketing
- Developing a Market Strategy
- Public Relations
- Advertising
- Operations and Management
- Hiring Staff
- Turnover
- Selling the Property
- Conclusion

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OFFICE DEVELOPMENT
- Overview
- Categorizing Office Development
- Trends in Office Building Development
- Project Feasibility
- Market Analysis
- Site Selection
- Regulatory Issues
- Financial Feasibility
- Design and Construction
- General Principles
- Site Planning
- Exterior Design
- Interior Design
- Tenant Leasehold Improvements
- Pitfalls and Suggestions
- Financing
- Construction Loans
- Permanent Loans
- Lease Requirements
- Mortgage Options 241
- Standby and Forward Commitments
- Equity
- Marketing and Leasing
- Marketing Strategy
- Brokers
- Types of Leases
- Lease Rates and Terms
- Operations and Management
- Budgeting and Accounting
- Keeping Tenants Satisfied
- Selling the Completed Project
- Conclusion
INDUSTRIAL DEVELOPMENT
- Overview
- Product Types
- Building Categories
- Categories of Business Parks
- Rehabilitation and Adaptive Use
- Project Feasibility
- Market Analysis before Site Selection
- Site Selection
- Market Analysis after Site Selection
- Regulatory Issues
- Financial Feasibility
- Design and Construction
- Site Design
- Building Design and Construction
- General Advice
- Financing
- Construction and Permanent Loans
- Equity Structure
- Dealing with Institutional Investors
- Joint Venture Deal Points
- Negotiating Risk
- Marketing
- Marketing Strategy
- Marketing Materials
- Brokers
- Leasing
- Property Management
  - Stage 1: Development
  - Stage 2: Lease-Up
  - Stage 3: Stabilized Operations
- Selling the Project
- Conclusion
RETAIL DEVELOPMENT
- Overview
- Standard Shopping Center Categories
- Specialty Centers
- Project Feasibility
- Market Analysis
- Site Selection
- Regulatory Issues
- Financial Feasibility
- Design and Construction
- Site Plan and Building Configuration
- Parking, Circulation, and Access
- Site Engineering and Landscaping
- Outparcel Development
- Building Structure and Shell
- Interior Design
- Construction
- Financing
- Marketing
- Leasing
- The Lease
- Organizing the Leasing Program
- Postconstruction Marketing and Promotion
- Operations and Management
- Management Approaches
- Security
- Financial Records and Control
- Maintenance and Housekeeping
- Conclusion
TRENDS AND ISSUES
- Looking at the Past and to the Future
- Changing Market Factors
- Industry Restructuring
- The Demise of Small Developers?
- Financing
- Paying for Infrastructure
- The Erosion of Development Rights
- The Technological Revolution
- Trends
- New Demographics
- Changing Lifestyles
- Cities versus Suburbs
- Development Issues
- Smart Growth
- Place Making
- Environmental Concerns
- The Need for Open Space
- Transportation and Congestion
- Social Responsibility
- The Developer's Public Image
- Differing Social Objectives
- Gaining Community Support
- Personal Integrity
- Conclusion
Appendices
Index

Professional Real Estate Development, 2nd Edition

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