Introduction to real estate development and finance / Richard Levy.

Format:

Book

Author/Creator:

Levy, Richard M., author.

Language:

English

Subjects (All):

Real estate development.

Real estate investment.

Physical Description:

1 online resource (289 pages)

Edition:

1st ed.

Place of Publication:

New York : Routledge, 2019.

Summary:

"This book provides readers with a basic understanding of the principles that underlie real estate development. A brief historical overview and an introduction to basic principles are followed by examples from practice. Case studies focus on how cities change and respond to the economic, technological, social and political forces that shape urban development in North America. It is important to have a framework for understanding the risks and rewards in real estate investing. In measuring return, consideration must be given to both investment appreciation and the cash flow generated over the life of a project. In addition, metrics are presented that can be useful in assessing the financial feasibility of a real estate development proposal. This book also provides an overview of the forces of supply and demand that gauge the potential market for a new project. In determining the size of "residual demand", estimates for population growth, family formation, and new development are important. All development projects fall under the auspices of one or several jurisdictions. Though every jurisdiction has different rules and procedures, basic knowledge of the planning process is critical to the success of all development projects regardless of location. Furthermore, all projects have a legal component. Basic issues of land ownership, property rights, property transfer, and land registration are reviewed, all need to be considered when a property is sold or purchased. This book also provides a primary on the design and construction process. In constructing a building, a team of experts is first required to design the architectural, structural and HVAC systems for a building. An overview is provided of each building systems: wood, concrete, and steel. Critical to a successful real estate development, project management principles for the processes of design, bidding, and construction are explored, with close attention given to budgeting, scheduling and resource management. Essential reading for anyone involved in the development of our built environment, this is a must read introduction for students and professionals in architecture, urban planning, engineering or real estate seeking an approachable and broad view of real estate development and finance"--

Contents:

Cover

Half Title

Title Page

Copyright Page

Dedication

Table of Contents

List of figures

Preface

Organization of this book

1. Introduction to real estate development and finance

What is real estate?

What determines value?

Learning from history

The two big questions in real estate development

The supply side of the equation

The demand side of the equation

Demand and supply in a changing technological landscape

Financial factors

Building the team

2. An introduction to financial analysis

Risk and reward

Pro formas

Cautions

3. Model building and real estate development

Models and decision making

Modeling human behavior: models are rational, people are not

Conclusions

4. An introduction to financial modeling

Introduction

Applying theory to practice

Case study: multifamily development - the value of forecasting

Summary and conclusion

5. Market analysis

Market analysis: supply, demand, and geography

Market studies and the real estate development process

Market research: basic principles and techniques

Population projection and cohort models

Demand, affordability, and residential development

Case study: a condo apartment development

Creating a marketing program

Retail

Commercial office space

6. The planning process

Case study: inner-city development project

7. Real estate and the law

Foundations and principles of private property

The law and real estates: statutes, common law, and regulations

Collective ownership of property

Right of use

Forms of ownership

Ownership and the investment community

Real estate transactions, agents, and brokers

Construction loans

Real estate closings, land title, and registration

Leases.

Construction contracts

8. Design and construction

A team of experts

Site planning, massing, and space planning

Mastering the art and science of construction

Technology and the modern building

Building from the ground up

Structural systems: concrete, steel, or wood

Historic restoration and preservation projects

Heating, cooling, and other building systems

Managing the design process

9. Project management

Introduction: why do Ineed project management skills?

Time, budget, and performance

Project management defined

Application of project management to real estate development

Index.

Notes:

Includes bibliographical references and index.

Description based on print version record.

ISBN:

0-429-89113-X

0-429-89114-8

0-429-46956-X

9780429469565

OCLC:

1127538955