Professional Real Estate Development : the ULI guide to the business. / txt
Richard B. Peiser and David Hamilton.
- Third edition
- xii, 404 p. ill. ; 26 cm. book
Include index.
Contents : Preface ix -- Acknowledgments xi -- 1 Introduction 2 -- What is a Developer ? 3 -- The Book's Approach and Objectives 4 -- Requirements for Success 5 -- Paths for Entering the Development Field 7 -- Finding the First Deal 8 -- A Use Looking for a Site 9 -- A Site Looking for a Use 9 -- Improving the Chances of Successful Development 12 -- Managing the Development Process 14 -- Real Estate Cycles 15 -- Getting Started 17 -- Stages of Development 17 -- Conclusion 28 -- 2 Organizing for Development 30 -- Forming Partnerships 31 -- The Firm's Organization and Management 33 -- Organizational Life Cycles 34 -- Organizational Structure 36 -- Compensation 36 -- Strategic Planning 39 -- Choosing Consultants and Contractors 39 -- Locating a Consultant 39 -- Selecting a Consultant 40 -- Rates 42 -- Working with Consultants 43 -- The Design / Construction Team 43 -- Architects 43 -- Landscape architects 46 -- Land Planners 47 -- Engineers 47 -- Sils Engineers 49 -- Environmental Consultants 49 -- Surveyors 52 -- Parking and Traffic Consultants 53 -- Asbestos Abatement Professionals 54 -- Construction Contractors 54 -- Real Estate Service Firms 56 -- Market Consultants 56 -- Appraisers 57 -- Attorneys 57 -- Title Companies 58 -- Surety Companies 59 -- Brokers / Leasing Agents 61 -- Public Relations and Advertising Agencies 62 -- Property Management 63 -- Lenders 64 -- Sources of Financing for Real Estate Projects 66 -- Commercial Banks 66 -- Savings and Loan Institutions 66 -- Insurance Companies 66 -- Pension Funds 67 -- Foreign Investors 67 -- Syndications and Real Estate Investment Trusts 67 -- Privaty Equity Investors and Joint Ventures 68 -- The Bond Market and Commercial Mortgage Backed Securities 68 -- Credit Companies 68 -- Mezzaine Debt 68 -- Construction Lenders 69 -- Mortgage Bankers and Brokers 70 -- Permanent Lenders 70 -- Conclusion 71 -- 3 LAND DEVELOPMENT 72 -- Overview 73 -- Subdividing Land 73 -- Land Development versus Building Development 73 -- Project Feasibility 75 -- Market Analysis before Site Selection 75 -- Site Selection and Acquisition 78 -- Market Analysis after Site Selection 85 -- Regulatory Process 87 -- Financial Feasibility Analysis 96 -- Design and Site Planning 110 -- Evolution of Subdivision Design 111 -- Sensitivity to Design Issues 113 -- Conservation Development, Clusters, New Urbanism, and PUDs 113 -- Site Planning Processes 114 -- Site Information 115 -- Streets and Street Hierarchy 117-- Site Engineering 118 -- Platting 123 -- Higher Densities 125 -- Financing 126 -- Obtaining Financing 126 -- Joint Ventures 128 -- Construction 130 -- Marketing 132 -- Marketing Budgets 133 -- Marketing to Homebuilders 134 -- Marketing Larger Parcels 135 -- Site Merchandising 136 -- Interstate and Internet Marketing 136 -- Development Maintenance after Completion 136 -- Protective Covenants 137 -- Community and Condominium Associations 142 -- Conclusion 144 -- 4 Multifamily Residential Development -- Overview 147 -- Recent History 148 -- Product Types 148 -- Getting Started 150 -- Project Feasibility 151 -- Market Analysis 151 -- Site Selection 159 -- Financial Feasibility Analysis 168 -- Design 191 -- Unit Mix 194 -- Site Design 195 -- Exterior Design 197 -- Interior Design 198 -- Design Issues 199 -- Approvals 200 -- Financing 202 -- Construction Loans 202 -- Calculating Interest for a Construction Loan 203 -- Permanent Financing 205 -- Financing Issues 209 -- Government Programs and Working with Nonprofit Organizations 217 -- Construction 219 -- Managing and Scheduling the Job 219 -- Inspections 220 -- Subcontractors and Draws 221 -- Insurance 221 -- Marketing 222 -- Developing a Marketing Strategy 222 -- The Marketing and Leasing Budget 223 -- Public Relations 225 -- Advertising 226 -- Operations and Management 229 -- Hiring Staff 230 -- Turnover 231 -- Refinancing and Selling the Property 231 -- Conclusion 232 -- Case Study: West River Commons 235 -- 5 Office Development 238 -- Overview 239 -- Categorizing Office Development 239 -- Trends in Office Building Development 240 -- Project Feasibility 243 -- Market Analysis 243 -- Site Selection 247 -- Regulatory Issues 248 -- Financial Feasibility 250 -- Design and Construction 251 -- Site Planning 252 -- Exterior Design 253 -- Interior Design 254 -- Tenant Leasehold Improvements 260 -- Pitfalls and Suggestions 261 -- Financing 261 -- Construction Loans 262 -- Permanent Loans 263 -- Mortgage Options 264 -- Standby and Forward Commitments 264 -- Equity 264 -- Marketing and Leasing 266 -- Marketing and Leasing 266 -- Marketing Strategy 266 -- Brokers 267 -- Lease Rates and Terms 269 -- Operations and Management 269 -- Zombie Buildings 271 -- Energy Star and LEED 271 -- Selling the Completed Project 271 -- Conclusion 271 -- Case Study: 17 th and Larimer 274 -- Case Study: 11000 Equity Drive 279 -- 6 Industrial Development 282 -- Product Types 284 -- Building Categories 284 -- Categories of Business Parks 287 -- Rehabilitation and Adaptive Use 287 -- Project Feasibility 288 -- Market Analysis before Site Selection 288 -- Site Selection 292 -- Market Analysis after Site Selection 295 -- Regulatory Issues 297 -- Financial Feasibility 300 -- Design and Construction 300 -- Site Design 300 -- Building Design and Construction 303 -- General Advice 307 -- Financing 308 -- Construction and Permanent Loans 308 -- Equity Structure 309 -- Dealing with Institutional Investors 309 -- Joint Venture Deal Points 309 -- Negotiating Risk 311 -- Marketing 314 -- Marketing Strategy 314 -- Marketing Materials 315 -- Brokers 316 -- Leasing 316 -- Property Management 317 -- Stage 1: Development 317 -- Stage 2: Lease Up 318 -- Stage 3: Stabilized Operations 318 -- Selling the Project 319 -- Conclusion 320 -- Case Study: Ameriplex 321 -- 7 RETAIL DEVELOPMENT 326 -- The Evolution of Shopping Centers 328 -- From Downtowns to Big Box Retailing 328 -- Commodity Retailing 328 -- Regional Malls 329 -- Lifestyle Centers 330 -- Classifying Shopping Centers: Commodity Versus Specialty Retail 331 -- The New Shopping Paradigms 331 -- Development Opportunities 334 -- Commodity Retailing 334 -- Specialty Retailing 335 -- Hybrid Shopping Centers 335 -- Crossover Tenants 336 -- The Impact of E-Commerce 336 -- Predevelopment Analysis 336 -- Market Filter Trade Area and Sales Potential Analysis 337 -- Physical Filter Site Analysis 340 -- Regulatory Filter Public Approvals and Handling Opposition 343 -- Financial Feasibility Filter 344 -- Design and Construction 347 -- Shopping Center Configuration 347 -- Access, Parking, and Circulation 348 -- Ingress and Egress 350 -- Site Engineering 350 -- Building Structure and Shell 352 -- Tenant Spaces 355 -- Construction 356 -- Tenant Finishes 356 -- Financing 357 -- General Financing Considerations 357 -- Permanent Financing 357 -- Public Financing 358 -- Land Sales 358 -- Merchandising and Leasing 359 -- Shopping Center Leasing 360 -- The Shopping Center Lease 361 -- Marketing 364 -- Preopening Marketing 364 -- Ongoing Marketing 364 -- Management and Operation 365 -- Financial Records and Control 365 -- Conclusion 366 -- Case Study: Bayshore Town Center 367 -- 8 TRENDS AND ISSUES 372 -- Changing Market Factors 373 -- Industry Restructuring in the 1990s 374 -- The Crisis of 2008 - 2009 374 -- The Demise of Small Developers? 376 -- Financing 376 -- Paying For Infrastructure 377 -- Regulatory Change and the Erosion of Development Rights 378 -- The Technological Revolution 379 -- Trends 381 -- New Demographics 381 -- Changing Lifestyles 381 -- Cities versus Suburbs 382 -- Development Issues 383 -- Smart Growth 383 -- Place Making 384 -- Environmental Concerns 384 -- The Need for Open Space 386 -- Transportation and Congestion 387 -- Social Responsibility 387 -- The Developer's Public Image 388 -- Gaining Community Support 388 -- Personal Integrity 392 -- Conclusion 392 -- Index 394 --