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

Related Companies’ Stephen Ross and The Cortland (Related Companies, The Cortland, Getty)

New development boom dead, with mortgage rates a prime suspect

No matter how high developers build, they can’t avoid gravity. New-development contract signings in September fell below pre-pandemic levels...

New development boom dead, with mortgage rates a prime suspect
From left: Lendlease's departing COO Denis Hickey and next CEO Americas Claire Johnston (Getty Images, Lendlease)

Lendlease COO Denis Hickey to depart

UPDATED, Oct. 6, 4:25 p.m.: Lendlease chief operating officer Denis Hickey is leaving at the end of the month after 10 years with the Australian developer. The company announced the departure of its COO...

Lendlease COO Denis Hickey to depart
Stephen Ross and 50 Hudson Yards (Getty Images, Hudson Yards New York)

Related lands $349M for 50 Hudson Yards

UPDATED Oct. 6, 2022, 11:28 a.m.: One of the most expensive office projects in New York City history picked up a bit more financial support. Wells Fargo provided a $348.8 million rehab construction loan...

Related lands $349M for 50 Hudson Yards
A photo illustration depicting the massive changes at 2797 Atlantic Avenue (Google Maps, Getty Images)

Church plans 343 apartments in East New York

Holy cow: A church-owned property across from a former dairy factory in East New York is slated to become...

Church plans 343 apartments in East New York
Suburbanites with pitchforks as two hands ripping building plans
National News Analysis

Suburban Nimbys oppose more housing. Do they have a point?

With suburbs under pressure to help ease the housing crisis, a Long Island town just did something extraordinary: It...

Suburban Nimbys oppose more housing. Do they have a point?

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