Research and Re-visioning
Practice the skills necessary to acquire, apply, analyze, evaluate, create, organize, re-organize and re-vision based upon new knowledge as part of a process of lifelong learning.
Research and revisioning are vital skills that a developer must possess. A great level of research must go into a potential investment / development opportunity. From market analysis to site analysis to financial analysis, there can never be enough research. A developer must draw the line in which he / she is comfortable in executing on the deal, but risk will always exist. Specifically, in development, the risk curve is the highest in the middle of the project, and lowest as the project completes.
In LDEV 689 – Entrepreneurial Enterprise in Land and Property Development, I was tasked with creating a book report on ‘Creating and Growing Real Estate Wealth’ by William J Poorvu. This book taught me to think outside of the box when it comes to real estate opportunities. The creative approach the author took allowed me to look at real estate from a different perspective. In LDEV 667, I was introduced to the Quadruple Net Value of a real estate asset. That is the social & cultural, environmental, financial, and sensory aspects of an asset. I was tasked to conduct a book report on Urban Design and the Bottom Line: Optimizing the Return on Perception by Dennis Jerke. This book communicated the importance of good design, and how all stakeholders benefit from good design. Both book reports are shown below.