Development

Development

Development is the process of orchestrating the planning, creation, change, or improvement of real estate.

Development Q&A

What is real estate development?
Real estate development encompasses a variety of processes and can mean different things. The process can include renovation of an existing space, altering a space to suit a new purpose, or developing raw land from start to finish. Although real estate development is separate from construction, real estate developers may oversee construction processes. Developers may require consultants to plan a space, architects to design it, engineers to configure, lenders to finance, and contractors to build, all within one project. Development can occur under the auspices of a pre-existing buyer or owner of land or without one; the latter is called speculative development.
Who develops real estate?
Development teams include a variety of professionals to help development processes from beginning to end. They utilize lawyers, consultants, architects, site planners, and more before any sort of construction begins. The Real Deal compiles an annual list of the largest developers in New York City. In 2018, New York's developers with the most square feet of projects in the works were Related Companies, Brookfield Property Partners, Tishman Speyer, GID Development Group, and SL Green Realty.

The Latest

660 Madison Avenue (Photo via Jenel Real Estate)

Safra family finally begins 660 Madison’s office-to-resi conversion

660 Madison Avenue’s offices are emptying out, though not for the reason you might expect. The real estate family...

Safra family finally begins 660 Madison’s office-to-resi conversion
New York City council member Margarate Chin, Mayor Bill de Blasio and council member Carlina Rivera (Getty; iStock)

Why the Soho rezoning will pass — and Gowanus, too

Developers prefer clear rules that they can follow to complete their projects. But in a dynamic metropolis such as...

Why the Soho rezoning will pass — and Gowanus, too
Silverback's Josh Schuster and 580 Gerard Avenue (Google Maps) 

Silverback plans 200-unit South Bronx Opportunity Zone project

With a lift from Opportunity Zone financing, Silverback Development is set to build a $90 million, 200-unit development in...

Silverback plans 200-unit South Bronx Opportunity Zone project
Mayor Bill de Blasio (iStock; Getty)

Soho to be rezoned: de Blasio

If Mayor Bill de Blasio gets his way, Soho will have mixed-income housing added to its famous art galleries and multimillion-dollar lofts. The neighborhood will be rezoned to make way for as many at...

Soho to be rezoned: de Blasio
US construction spending is up $37.8 billion year-to-date compared to 2019 (iStock)

Housing demand sent construction spending up in August

Spending on construction, particularly in the housing sector, plowed ahead in August. Money flowing into construction projects ticked up...

Housing demand sent construction spending up in August
Larry Korman (Photo by Emily Assiran)

The self-lockdown lifestyle of AKA’s Larry Korman

Life under quarantine has brought big changes for everyone. For Larry Korman — the head of property development, management...

The self-lockdown lifestyle of AKA’s Larry Korman
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

A nearly 30-acre mixed-use development that would bring luxury condo towers, a harbor and public promenade secured a key...

Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Council member Laurie Cumbo  and a rendering of the Bedford-Union Armory (Getty; Bedford Armory)

Student suspended after blasting lawmaker’s pro-development stance

A student is suing a New York City Council member, alleging the politician had her suspended for publicly criticizing...

Student suspended after blasting lawmaker’s pro-development stance
Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale, Wafra seek $860M to redevelop 111 Wall Street

Nightingale Group and Wafra Capital Partners are seeking a five-year, $860 million loan to redevelop 111 Wall Street. The...

Nightingale, Wafra seek $860M to redevelop 111 Wall Street
Clockwise from left: 950 University Avenue in the Bronx, 27-55 Jackson Avenue in Queens, 149 Pioneer Street in Red Hook and 416 Metropolitan Avenue in Williamsburg (Google Maps)

EB-5 investor snags Hunters Point resi development: Mid-market sales report

The Bronx, Brooklyn and Queens dominated the middle of the investment sales market after Labor Day, while Manhattan saw...

EB-5 investor snags Hunters Point resi development: Mid-market sales report

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