Blog
Real Estate Development Is Five Trades, Not One Job
A reading map for a 26-post series on real estate development — the five trades a developer actually coordinates (site, numbers, rules, time, product type), and why the macro forces move all five at once.
Real Estate Development Starts Long Before Construction
A practical look at real estate development, market cycles, risk, partnerships, and the teams that turn an idea into a real project. 👋
Real Estate Development Starts with the Site
A simple look at site acquisition, due diligence, title, market analysis, and why controlling the land is where real estate development really begins. 👋
Real Estate Development Only Works When the Numbers Work
The value side of real estate feasibility — pro forma, NOI, cap rate, and land residual. The instruments that decide whether a project's stabilized value will exceed its all-in cost before you ever talk to a lender.
The Capital Stack Is Where Real Estate Deals Actually Get Decided
Debt and equity want different things, leverage amplifies both ways, and lender ratios — LTV, DSCR, debt yield — are how lenders translate risk into hard caps on what a deal can carry.
Real Estate Development Only Works If the Rules Let It
A practical look at land residual pricing, entitlements, CEQA, zoning, and why real estate development is as much about approvals and constraints as it is about design. 👋
Building Homes Means Building Through Time
The third binding test in residential master-planned development — beyond feasibility math and entitlement, can the coalition behind a project hold together for the 20–40 years it takes to deliver? Worked cases (Irvine, Summerlin, Woodlands, Reston, Tejon, California Forever) and the strongest counterarguments (Tokyo, Abundance, Strong Towns, Demsas).
Office Development Looks Simpler from Far Away
A practical look at office development, product types, leasing, effective rent, supply and demand, and why office real estate is really a team sport. 👋
Listening to a Hines Managing Director Explain How a $3B Project Actually Moves
I joined a UC San Diego conversation on real estate planning and development, and one guest talk completely changed how I picture a large mixed-use project coming to life. 👋
Apartment Development Is a Long Game, and Everything Follows From That
How the rent-or-sell decision shapes apartment development, why homeownership is your real competition, and what building codes reveal about construction economics.
The Pro Forma Is Where Multifamily Development Actually Happens
How feasibility decides whether a multifamily project moves forward — site selection, density calculations, impact fees, absorption risk, and the developer's cap rate.
Multifamily Feasibility Runs on Absorption and Developer's Cap Rate
Two pro forma inputs decide whether a multifamily project actually pencils — how fast it leases up, and whether the developer's cap rate beats the market by enough to justify the construction risk.