ADMS 3810 Lecture Notes - Lecture 8: Site Analysis, Cash Flow, Discounted Cash Flow
3 Feb 2014
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The development process: can be defined as the act of brining an idea or concept to successful completion in bricks and mortar. It is a complex process requiring the coordinated expertise of many professionals: the developer: The developer is the entrepreneur who makes things happen, the prime mover of the development process. The developer seeks the maximum return with a minimum commitment of time and money. Any individual or institution providing the developer with: the construction lender: commitment in land, and is assured of being repaid on completion date of the project. The construction lender has a short-term: the permanent lender: loan, long-term lenders frequently receive a form of contingent interest. In addition to charging interest on the permanent: the long-term equity investor: investor during the development period, which does not include the sharing of development period risks. Usually assumes the role of a passive: the architect:
