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<h2 id="organizing-for-development">Organizing for development</h2> <p>A development team can be put together in one of several ways. At one extreme, a large company might include many services, from <a href="/facts/Architecture/FccThs8G">architecture</a> to <a href="/facts/Engineering/RFVg8H3I">engineering</a>. At the other end of the spectrum, a development company might consist of one principal and a few staff who hire or contract with other companies and professionals for each service as needed. </p><p>Assembling a team of professionals to address the environmental, economic, private, physical and political issues inherent in a complex development project is critical. A developer's success depends on the ability to coordinate and lead the completion of a series of interrelated activities efficiently and at the appropriate time.<a class="footnote-ref" id="fnref:5" href="#fn:5"><sup>5</sup></a> </p><p>Development process requires skills of many professionals: <a href="/facts/Architect/pv0f9bYq">architects</a>, <a href="/facts/Landscape_architect/JWVSvGoV">landscape architects</a>, <a href="/facts/Civil_engineer/RjIFIjNe">civil engineers</a> and site planners to address project design; <a href="/facts/Marketing_consultants/LttVQ66t">market consultants</a> to determine demand and a project's <a href="/facts/Economics/HYctA2Dn">economics</a>; <a href="/facts/Lawyer/SETgVQHu">attorneys</a> to handle agreements and government approvals; <a href="/facts/Environmental_consulting/XCBeY1v1">environmental consultants</a> and <a href="/facts/Geotechnical_engineering/Nw55uq9R">soils engineers</a> to analyze a site's physical limitations and <a href="/facts/Environmental_impact_assessment/LWNWaKJC">environmental impacts</a>; <a href="/facts/Surveyor/qchGcnRC">surveyors</a> and <a href="/facts/Title_insurance/lwxvGryL">title</a> companies to provide <a href="/facts/Legal_description/Laasr9sE">legal descriptions</a> of a property; and <a href="/facts/Lender/kfEGTSzr">lenders</a> to provide financing. The <a href="/facts/General_contractor/J1hJ8P93">general contractor</a> of the project hires <a href="/facts/Subcontractor/UtX6DGad">subcontractors</a> to put the <a href="/facts/Architectural_plan/mD9C3GJq">architectural plans</a> into action. </p> <h2 id="land-development">Land development</h2> <p class="note">Further information: <a href="/facts/Land_development/W6dVvXjT">Land development</a></p> <p>Purchasing unused land for a potential development is sometimes called <a href="/facts/Speculation/BntB5nqU">speculative</a> development. </p><p><a href="/facts/Subdivision_(land)/NM9uTq8u">Subdivision</a> of land is the principal mechanism by which communities are developed. Technically, subdivision describes the legal and physical steps a developer must take to convert raw land into developed land. Subdivision is a vital part of a community's growth, determining its appearance, the mix of its <a href="/facts/Land_use/BAMqwQcG">land uses</a>, and its infrastructure, including <a href="/facts/Road/3aadH4s3">roads</a>, <a href="/facts/Drainage/thEd3nfB">drainage</a> systems, <a href="/facts/Water_supply/1UuexMtl">water</a>, <a href="/facts/Sewerage/bmbN015l">sewerage</a>, and <a href="/facts/Public_utilities/BzslJKc3">public utilities</a>. </p><p>Land development can pose the most risk, but can also be the most <a href="/facts/Profitable/kfPA9rfB">profitable</a> technique as it is dependent on the <a href="/facts/Public_sector/bV8gdzPu">public sector</a> for approvals and infrastructure and because it involves a long investment period with no positive <a href="/facts/Cash_flow/TM2tHnlW">cash flow</a>. </p><p>After subdivision is complete, the developer usually markets the land to a home builder or other end user, for such uses as a <a href="/facts/Warehouse/BthIekUE">warehouse</a> or <a href="/facts/Shopping_center/nlNx4ts6">shopping center</a>. In any case, use of <a href="/facts/Spatial_intelligence_(business_method)/4X1lvw19">spatial intelligence</a> tools mitigate the risk of these developers by modeling the population trends and demographic make-up of the sort of customers a home builder or retailer would like to have surrounding their new development.<a class="footnote-ref" id="fnref:6" href="#fn:6"><sup>6</sup></a> </p> <h2 id="see-also">See also</h2> <ul><li><a href="/facts/Affordable_housing/4q4bTrSu">Affordable housing</a></li> <li><a href="/facts/Brownfield_regulation_and_development/h8ISaJuN">Brownfield regulation and development</a></li> <li><a href="/facts/Land_consumption/99N5L2Fe">Land consumption</a></li> <li><a href="/facts/NIMBY/hlvE6gWw">NIMBY</a></li> <li><a href="/facts/Real_estate_business/FmQHyz9w">Real estate business</a></li> <li><a href="/facts/Shared_ranch/K9txSfVw">Shared ranch</a></li> <li><a href="/facts/Urban_sprawl/YCuJVsQG">Urban sprawl</a></li> <li><a href="/facts/YIMBY_movement/0x9GK1m6">YIMBY movement</a></li></ul> <h2 id="external-links">External links</h2> <ul><li> Media related to Real estate development at Wikimedia Commons</li></ul> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>Frej, Anne B; Peiser, Richard B. (2003). Professional Real Estate Development: The ULI Guide to the Business (2 ed.). Urban Land Institute. p. 3. ISBN 0874208947. OCLC 778267123. <a href="0874208947" target="_blank">0874208947</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>New York Times, March 16, 1963, "Personality Boom is Loud for Louis Lesser" <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>Frej, Anne B; Peiser, Richard B. (2003). Professional Real Estate Development: The ULI Guide to the Business (2 ed.). Urban Land Institute. p. 3. ISBN 0874208947. OCLC 778267123. <a href="0874208947" target="_blank">0874208947</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>Geltner, David, Anil Kumar, and Alex M. Van de Minne. "Riskiness of real estate development: A perspective from urban economics and option value theory." Real Estate Economics 48.2 (2020): 406-445. <a href="https://doi.org/10.1111/1540-6229.12258" target="_blank">https://doi.org/10.1111/1540-6229.12258</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>Homes, Synsera (13 September 2019). "Article: What does a property developer do? Sept 2019". Synsera Homes. Archived from the original on 2020-08-08. Retrieved 2020-04-15. <a href="https://watermarkhomes.co.uk/what-does-a-property-developer-do/" target="_blank">https://watermarkhomes.co.uk/what-does-a-property-developer-do/</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>"What is a Lady Bird Deed". April 18, 2020. Archived from the original on 2020-09-27. Retrieved 2020-04-18. <a href="https://thomas-walters.com/what-is-a-lady-bird-deed-in-texas/" target="_blank">https://thomas-walters.com/what-is-a-lady-bird-deed-in-texas/</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> </ol>