Creative development financing

[摘要] Although the development process is often ill defined and somewhat intangible, there is a definite rationale to the methodology employed to effectuate the creation of our built environment. To comprehend this rationale, it is first necessary to identify and understand the financial infrastructure within which all investment type developments must be perpetrated. Once it is clear that financial restraints play a primary role in determining what:, where, and when built facilities will be constructed, it is possible to conclude that financial parameters will also have a major impact on the quantity and quality of built improvements that can and will be made. The conflicting continuum of profit versus design has long been the dilemma of those who participate in the development process It is for this reason that many of the professionals who logically should be primary decision makers in the development process have been reluctant to become directly involved in initiation and ownership of income producing real estate projects. ;;The seeds of mistrust between the architectural and economic disciplines have long been germinating. There appear to be three reasons: a lack of respect between the disciplines; a lack of interprofessional knowledge; and poor client coordination.;; An understanding of the development processes may well be a reasonable approach to eradicating many of the misconceptions through which real estate development and financing procedures are often perceived. The intent of Creative Development Financing is to give a comprehensive overview of the various aspects and implications inherent to the development process. Special emphasis is placed on the economic considerations of the developers, investors, and financial institutions that currently represent the major contributors to the development process. The identification and analyzation of creative financing techniques is undertaken to both enlighten the reader and to demonstrate that both quality and quantity of improvements on land may be a direct result of the level of expertise and inventiveness employed by those establishing the long range economic parameters within which the development process is initiated and perpetuated.

[发布机构] Rice University