What does a property developer do?

At Brick & Bond, we believe that great development is about more than just constructing buildings—it’s about transforming communities. Property developers play an essential role in creating the environments that make great cities and neighborhoods work, and Casper is no exception. Find out how they’re involved, from the initial vision to managing completed projects. 

Not long ago, South of the Cumberland River in downtown Nashville sat an old hospital and a row of brick sheds that once housed the city’s trolleys. The bleak land and abandoned structures were an eyesore with a negative impact on the surrounding area. 

Today the site is unrecognizable. The old structures, now renovated, have found new life, housing residential units and businesses. They have been joined on the property by new buildings, creating a vibrant mixed-use neighborhood that is helping to revitalize the city’s downtown. 

There are thousands of similar projects underway all over the country. There is enormous potential in many of our cities and towns just waiting to be recognized and tapped into. Often, the primary drivers of this kind of transformation are property developers. Keep reading to discover the crucial role they play and the strategic importance of their work.   

From Vision to Reality

In the simplest terms, property developers transform empty land or already existing buildings into new developments. They might, for instance, turn an old furniture store into a brewery or a warehouse into apartments.

As they do so, they often convert underutilized resources into forms that fill unmet needs in the marketplace. These needs can range from housing to professional office spaces to outdoor areas for recreation. 

Doing this well takes vision. They must be able to reimagine existing land and structures in terms of what they might be. It also takes courage. Development requires large investments upfront and there are no guarantees about how things will turn out. A third important ingredient is wisdom. Development is ultimately about meeting the needs of the people who will use what is built and creating environments that foster human well-being. To do this effectively, developers need to be guided by the right principles. 

So developers reshape existing resources into new ones to better meet the needs of a community, drawing on vision, courage, and wisdom to do this successfully. But what does this look like in concrete terms? Let’s explore the process of development.  

The Process of Development

From start to finish, development involves many tasks. Not all developers will handle every one of them, nor do they always happen in this exact order, but each of the following will be a part of any development project. 

• Birthing the vision: Developers begin by spotting potential. They are attuned to the needs and possibilities within a community and envision what might be created.
• Project planning: This is the stage where an initial vision is given definite form. It involves the essential work of determining whether an idea that sounds good is likely to actually work. This can involve drawing up initial architectural plans, analyzing the local market, planning a marketing strategy, meeting with community stakeholders, and studying the financial feasibility of the project. 
• Land acquisition: Assuming the initial vision remains promising after this work has been done, it’s time to identify and purchase the best site for the proposed development. 
• Financing: Whether through banks or investors, the developer secures the substantial funding needed to cover construction and other development costs.
• Regulatory compliance: Projects are subject to a variety of regulations, from building codes to zoning rules. The developer ensures the needed permits are obtained and relevant regulations are met. 
• Construction management: It’s time to build. The developer oversees the process, working with contractors, architects, banks, and other stakeholders to keep things moving forward on schedule. 
• Value realization: Banks need to be repaid and investors expect a return. A developer hopes to earn a profit on the project, either by selling the completed development, managing the property for ongoing rent, or some combination of the two.  

This last part of the process raises an important question. What makes for a successful development project? Is it just a matter of turning a profit?

Successful Development

For some developers, the answer is ‘yes.’ At Brick & Bond, however, we aim for much more than profit. In our perspective, a successful development is one that benefits the community both economically and socially and helps create dynamic districts that sustain a high quality of life for decades to come. 

The financial success of a project is an important metric, but it pales in significance compared to the way a development impacts those whose lives it touches. This kind of success can only be fully appreciated over years, if not decades. But we’re inspired to undertake projects that promise this kind of potential. If that’s the sort of project that inspires you, too, we’d love to have the chance to explore how we might partner with you to realize your vision.

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