Abstract
It is often said that real estate is a people business. Whether you are a broker or an investor, it is incredibly beneficial to have effective communication skills, ability to establish rapport and trust with other people, and have an extensive network of clients and colleagues. But if real estate is a “people business”, then real estate development is the ultimate people business. A successful developer needs to maintain and manage a large and diverse network of professionals, including their internal team, architects, contractors, lawyers, lenders, local government officials, neighborhood associations, current and potential tenants, and others. This, of course in addition to understanding the “nuts and bolts” of the development process, such as being able to understand feasibility, relevant laws, and regulations, financing, construction, leasing, and marketing. While most of this book is dedicated to this “nuts and bolts” side of development, we want to emphasize that the “people” aspect is equally important. To that end, this chapter focuses on the nuances of affordable housing development that are typically not described in textbooks and are customarily learned through years of experience.
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Notes
- 1.
It would not be typical for young students and researchers to put forward these proposals, as the process for their approval is quite competitive.
- 2.
For example, see: Tenant Resource Center. 2017. Discrimination. Available online @ http://www.tenantresourcecenter.org/discrimination
- 3.
The City of Madison has not had Inclusionary Zoning (IZ) since a “sunset clause” went into effect in 2009. See: Inclusionary Zoning Advisory Oversight Committee. 2008. Inclusionary Zoning Annual Report: And Proposals for Improvements to the Inclusionary Zoning Program. City of Madison. For a positive take on inclusionary zoning see: Kautz, Barbara Ehrlich. 2001. In Defense of Inclusionary Zoning: Successfully Creating Affordable Housing. University of San Francisco Law Review. 36: 971–1032. See also: Kontokosta, Constantine E. 2014. Mixed Income Housing and Neighborhood Integration: Evidence from Inclusionary Zoning Programs. Journal of Urban Affairs. 36 (4): 716–741.
References
Inclusionary Zoning Advisory Oversight Committee (2008) Inclusionary zoning annual report: and proposals for improvements to the inclusionary zoning program. City of Madison
Jeffery CR (1971) Crime prevention through environmental design. Sage, Beverly Hills, CA
Kautz BE (2001) Defense of inclusionary zoning: successfully creating affordable housing. Univ San Francisco Law Rev 36:971–1032
Kontokosta CE (2014) Mixed income housing and neighborhood integration: evidence from inclusionary zoning programs. J Urban Affairs 36(4):716–741
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Luque, J.P., Ikromov, N., Noseworthy, W.B. (2019). Beyond Financing: The Process of Development. In: Affordable Housing Development. Springer, Cham. https://doi.org/10.1007/978-3-030-04064-2_10
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DOI: https://doi.org/10.1007/978-3-030-04064-2_10
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