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BK

Third edition

Washington : Urban Land Institute, 2012

xii, 404 stran : ilustrace, plány ; 27 cm

ISBN 978-0-87420-163-5 (vázáno)

Obsahuje bibliografické odkazy a rejstřík

001450831

Contents // Preface...ix // Acknowledgments...xi // 1 S 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 j 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 // Soils 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...67 // Pension Funds...67 // Foreign Investors...67 // Syndications and Real Estate Investment Trusts...67 // Private Equity Investors and Joint Ventures...68 // The Bond Market and Commercial // Mortgage-Backed Securities...68 // Credit Companies...68 // Mezzanine Debt...68 // Construction Lenders...69 // Mortgage Bankers and Brokers...70 // Permanent Lenders...70 // Conclusion...71 // 3 1 LAND DEVELOPMENT...72 // Overview...73 // Subdividing Land...73 // Land Development versus Building Development...75 // 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...124 // Financing...125 // 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 // vi // Professional

Real Estate Development // Development Maintenance after Completion...136 // Protective Covenants...137 // Community and Condominium Associations...142 // Conclusion...144 // 4 I MULTIFAMILY RESIDENTIAL // DEVELOPMENT...146 // 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 j 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 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: 17th and Larimer...274 // Case Study: 11000 Equity Drive...279 // 6 I 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 // CONTINUED // Contents I CONTINUED // 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 // 1 f 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 // Construction Financing...357 // Permanent Financing...-..358 // Public Financing...358 // Land Sales...359 // 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 j 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 // viii // FOR SUPPLEMENTAL MATERIALS, SEE WWW.ULI.ORG/PRED. // Professional Real Estate Development