E-Book Overview
This book presents a new way of thinking about, teaching, learning, and practicing real estate development. Real Estate Development Matrix describes the process in a two-dimensional model and presents seven Development Stages which form the horizontal axis, and eight sets of Development Tasks which form the vertical axis to define a 56-cell matrix. In each cell, money is spent and risks are taken to achieve certain tasks and thereby create (or destroy) value. This holistic process considers the entire life cycle of real estate from its "green field" inception to its "brown field" state. The book is written by a real estate developer and academic, and the presented material is conceptual, practical, and non-technical. Jargon has been minimized as much as possible as the author introduces an entirely new model for real estate development that is both academically authoritative and developed in practice. It is aimed at a general professional audience participating in the development process, but equally the book is ideal for use as a textbook in undergraduate and graduate courses in real estate development, and an excellent supplemental text for business courses discussing real estate finance and investment. It may also be used as a textbook for professional courses, workshops, or seminars in real estate development. The book is supported by an interactive website at http: //realestatedevelopmentmatrix.com
E-Book Content
‘The new text Real Estate Development Matrix is the first truly significant advancement on the groundwork laid by James Graaskamp many years ago. Dan Kohlhepp has taken his own years of actual development experience combined with the perspectives gained teaching this material to students and professionals that range from the University of San Diego to Johns Hopkins University, CCIM and NAIOP members and integrated it all into a systematic method of development decision making. Not only are the fundamental areas covered as in the Graaskamp model, but, here we have the players involved, the requirements of achieving more sustainable and responsible development, and the time sequence of development action items. Here, one can study development from the perspective of what the participants in the process actually do, what information they need and when they need to make decisions from idea conception through property value harvesting. Covering this subject matter for all property types and markets, is not an easy task and many developers have told academics you can’t teach this stuff, but Dan Kohlhepp, who uniquely combines his experience in both the academic and private sector worlds, has provided a new comprehensive model that sets a new standard. Great cases are provided, making the concepts within the matrix tangible for the advanced student of real estate. Suitable for advanced students, capstone courses and professionals alike, I give the Real Estate Development Matrix my strongest possible endorsement.’ – Norm Miller, PhD, Ernest Hahn Chair and Professor of Real Estate Finance, University of San Diego ‘The matrix covers the entire development process and breaks it down into the key stages that require critical tasks to be completed successfully to mitigate the development risk. The book blends years of development experience with the academic background of the authors. This is critical for a real estate development text because missing any of the key steps can jeopardize the success of the entire development project. It takes someone who has learned through years of development experience to know what the sources of risk are as you navigate the development matix.’ – Jeffrey D. Fisher, Ph.D., President, Homer Hoyt Institute, Professor Emeritus, Indiana University ‘The Real Estate Development Matrix masterfully blends the complex topics and concepts of the real est