Developing property is much
more complex than acquiring property and requires expertise
in arcane zoning rules and processes, environmental and habitat
issues, archeological and historical elements, design conflicts
(form versus function), construction methods and efficiency,
marketing idiosyncrasies, and, of course, politics and community
outreach. A failure to properly address any one of these areas
can delay a project for months, if not years. The upshot: effective
management is everything in ground-up development and profits
and losses are almost entirely dependent upon how well the developers
navigate through the above perils.
are experienced with all aspects of the development process,
and they limit the number of development projects they pursue
at any one time to a manageable level.