Development Conceptualization
Evaluate how property developments/investments are conceptualized, designed, delivered, and managed to maximize their value and return on investment.
In LDEV 667 – Design & Development Economy, Professor Geoffrey Booth explains that development conceptualization is derived from “the laser alignment of real need with your development concept – the bringing forward of tacit knowledge as explicit knowledge applied such to ensure your development concept has a laser alignment to a real, as opposed to imaginary, need. To truly complete the conceptualization process, we must consider the following: The unmet need, the design, the delivery, the activation, and the management of an asset.” I was able to utilize this knowledge in In LDEV 688 – Development Feasibility & Design II. Essentially, my group members and I were tasked to conceptualize a site plan for a hypothetical development based on real need. After thorough market analysis, my group members and I conceptualized strip-center retail for the back portion of the site, with 2 outparcels in the front. The site plan on the right shows our proposed uses. In LDEV 668 – Land Development Practice, my teammate and I were tasked to propose a neighborhood design based on the specific site characteristics such as easements and utility lines under the property. The plat is shown on the left.