Pro
5.2 Ground-Up Development: Site Selection to Stabilization
- 9 Sections
- 36 Lessons
- 37 Quizzes
The Developer's Business Model
4 Lessons4 Quizzes
- Lesson 1.1: How Developers Make Money
- Quiz 1.1: How Developers Make Money
- Lesson 1.2: The Developer as Entrepreneur vs. Investor
- Quiz 1.2: The Developer as Entrepreneur vs. Investor
- Lesson 1.3: The Development Pipeline as a Portfolio
- Quiz 1.3: The Development Pipeline as a Portfolio
- Lesson 1.4: The Five Failure Modes of Real Estate Development
- Quiz 1.4: The Five Failure Modes of Real Estate Development
Advanced Site Selection
5 Lessons5 Quizzes
- Lesson 2.1: The Four Filters for Site Selection
- Quiz 2.1: The Four Filters for Site Selection
- Lesson 2.2: Traffic Counts and Access Analysis for Retail and Mixed-Use
- Quiz 2.2: Traffic Counts and Access Analysis for Retail and Mixed-Use
- Lesson 2.3: Utility Capacity, The Silent Deal-Killer
- Quiz 2.3: Utility Capacity, The Silent Deal-Killer
- Lesson 2.4: Shadow Anchors, Co-Tenancy, and Demand Generation
- Quiz 2.4: Shadow Anchors, Co-Tenancy, and Demand Generation
- Lesson 2.5: The Site Acquisition Strategy
- Quiz 2.5: The Site Acquisition Strategy
The Development Pro Forma, Advanced Modeling
5 Lessons5 Quizzes
- Lesson 3.1: The Fully-Loaded Development Cost Stack
- Quiz 3.1: The Fully-Loaded Development Cost Stack
- Lesson 3.2: Yield-on-Cost, The Gating Metric
- Quiz 3.2: Yield-on-Cost, The Gating Metric
- Lesson 3.3: The Monthly Cash Flow Model, S-Curves, Interest Reserve, and Revenue Ramp
- Quiz 3.3: The Monthly Cash Flow Model, S-Curves, Interest Reserve, and Revenue Ramp
- Lesson 3.4: Sensitivity Analysis, The Three Variables That Kill Development Deals
- Quiz 3.4: Sensitivity Analysis, The Three Variables That Kill Development Deals
- Lesson 3.5: Presenting the Pro Forma, Credibility, Transparency, and the Capital Partner Conversation
- Quiz 3.5: Presenting the Pro Forma, Credibility, Transparency, and the Capital Partner Conversation
Entitlement Strategy at the Pro Level
4 Lessons4 Quizzes
- Lesson 4.1: Reading Political Risk, Assessing a Municipality Before You Buy Land
- Quiz 4.1: Reading Political Risk, Assessing a Municipality Before You Buy Land
- Lesson 4.2: The Entitlement Team
- Quiz 4.2: The Entitlement Team
- Lesson 4.3: Community Benefits Agreements and Density Bonuses
- Quiz 4.3: Community Benefits Agreements and Density Bonuses
- Lesson 4.4: Appeal Risk, Timeline Structuring, and the Entitlement Milestone Schedule
- Quiz 4.4: Appeal Risk, Timeline Structuring, and the Entitlement Milestone Schedule
Construction Management at Scale
5 Lessons5 Quizzes
- Lesson 5.1: Owner's Rep vs. Construction Manager vs. GC, The Three Models
- Quiz 5.1: Owner's Rep vs. Construction Manager vs. GC, The Three Models
- Lesson 5.2: GMP Contract Mechanics, Audit Rights, Savings Split, and Contingency Ownership
- Quiz 5.2: GMP Contract Mechanics, Audit Rights, Savings Split, and Contingency Ownership
- Lesson 5.3: The Construction Draw Process
- Quiz 5.3: The Construction Draw Process
- Lesson 5.4: Critical Path Scheduling and Subcontractor Management
- Quiz 5.4: Critical Path Scheduling and Subcontractor Management
- Lesson 5.5: Project Closeout, Punchlist, Certificate of Occupancy, Warranty Period
- Quiz 5.5: Project Closeout, Punchlist, Certificate of Occupancy, Warranty Period
Development Financing, The Full Stack
5 Lessons5 Quizzes
- Lesson 6.1: The Construction Loan Commitment, What Lenders Underwrite
- Quiz 6.1: The Construction Loan Commitment, What Lenders Underwrite
- Lesson 6.2: Mezzanine Debt and Preferred Equity in Development
- Quiz 6.2: Mezzanine Debt and Preferred Equity in Development
- Lesson 6.3: Joint Venture Structures, Equity Splits, Decision Rights, and Waterfalls
- Quiz 6.3: Joint Venture Structures, Equity Splits, Decision Rights, and Waterfalls
- Lesson 6.4: Tax Credit Financing, LIHTC, Historic Tax Credits, and NMTC
- Quiz 6.4: Tax Credit Financing, LIHTC, Historic Tax Credits, and NMTC
- Lesson 6.5: The Mini-Perm and Permanent Loan Take-Out
- Quiz 6.5: The Mini-Perm and Permanent Loan Take-Out
Lease-Up Strategy and Stabilization at Pro Level
4 Lessons4 Quizzes
- Lesson 7.1: Pre-Leasing Strategy by Asset Class
- Quiz 7.1: Pre-Leasing Strategy by Asset Class
- Lesson 7.2: The Lease-Up Budget, TI Reserves, Free Rent Carry, and Commission Reserves
- Quiz 7.2: The Lease-Up Budget, TI Reserves, Free Rent Carry, and Commission Reserves
- Lesson 7.3: Operating the Asset During Lease-Up
- Quiz 7.3: Operating the Asset During Lease-Up
- Lesson 7.4: The Stabilization Certification, Proving It to a Permanent Lender
- Quiz 7.4: The Stabilization Certification, Proving It to a Permanent Lender
Capstone, Develop a Mixed-Use Project
4 Lessons4 Quizzes
- Lesson 8.1: The Scenario Setup
- Quiz 8.1: The Scenario Setup
- Lesson 8.2: Financial Analysis, Working the Numbers
- Quiz 8.2: Financial Analysis, Working the Numbers
- Lesson 8.3: The Decision Framework and the 10% Cost Overrun Sensitivity
- Quiz 8.3: The Decision Framework and the 10% Cost Overrun Sensitivity
- Lesson 8.4: The Pro Lens, What an Experienced Developer Does With This Deal
- Quiz 8.4: The Pro Lens, What an Experienced Developer Does With This Deal
Final Exam
1 Quiz
This is development for people past the basics who want to operate at scale. The discipline sits in the model and the process.
You work the developer's business model, advanced site selection, and a pro forma built for real decisions. Modules cover entitlement strategy, construction management at scale, and the full financing stack, then lease-up and stabilization.
Eight modules, 36 written lessons, 107 practice questions, and a graded final exam with a certificate. The capstone develops a mixed-use project. Self-paced, 12 months of access included.
For the developer ready to run bigger, more complex builds.
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