348 Pages
    by Routledge

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    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/


    About the authors


    Table of Exhibits

    Part I

    1. Introduction

    2. Real estate development defined

    3. Real Estate Development Matrix

    4. The third dimension

    Part II

    5. Introduction to the Stages of real estate development

    6. Land Banking

    7. Land Packaging

    8. Land Development

    9. Building Development

    10. Building Operations

    11. Building Renovations

    12. Property Redevelopment

    Part III

    13. Real Estate Development Tasks: an overview

    14. I. Acquisition Tasks

    15. II. Financing Tasks

    16. III. Market Analysis and Marketing Strategies Tasks

    17. IV. Environmental Issues

    18. V. Approvals and Permits Tasks

    19. VI. Physical Improvements Tasks

    20. VII. Transportation and Accessibility Tasks

    21. VIII. Sales and Disposition Tasks

    22. Summary




    Daniel B. Kohlhepp is the president of Granite Road LLC. He is a former senior lecturer and academic program director of the Master of Science in Real Estate and Infrastructure Program at the Johns Hopkins Carey Business School. He began his career in real estate as a college professor at the University of Oklahoma and Penn State University and then spent 30 years as a real estate investor and developer before returning to academia. In 2007 the Homer Hoyt Institute recognized Kohlhepp as a Hoyt Fellow, and in 2012, he was elected to the board of directors of the Homer Hoyt Institute. He is an equity principal of the Real Estate Counselors Group of America, and he is also a member of the Appraisal institute and currently serves on the editorial board of the Journal of Sustainable Real Estate. Kohlhepp holds a PhD in Real Estate and Urban Planning Analysis from The Ohio State University and an MBA and BS degree from The Pennsylvania State University.

    Kimberly J. Kohlhepp, MSREI, LEED AP BD+C is currently the Associate Director of Development for Kimco Realty's Mid-Atlantic Region in Baltimore, MD. Before joining Kimco, she was a principal at Nestwood, LLC, a consulting firm focused on producing financial proformas, market research, and educational courses for real estate development teams and organizations. Kimberly has also worked with Brookfield Office Properties and Federal Realty Investment Trust in both property management and asset management roles. Kimberly holds a Master of Science in Real Estate and Infrastructure from Johns Hopkins University and a Bachelor of Arts in Anthropology from Ohio.

    "This book and the methodology it presents represents a significant leap forward in the understanding and teaching of the development process and industry… the methods presented in Real Estate Development Matrix are superior because they more accurately represent the way many, if not most, development firms and entities actually do business… Students found the material easy to understand and well aligned with the operations of known firms… well suited as a textbook… [and] worthy for use in professional education and as a simple reference for real estate professionals. The book’s organization of the real estate development industry and the development process as a matrix of seven development stages and eight development tasks is easy to understand and may be one of the best pedagogical methods of teaching the complexities of real estate development available at this time." Joshua A. Harris, New York University, USA