While real estate development is back on the rise, much of the industry is stuck in the mire of antiquated traditions and business practices. It is therefore imperative that those of us leading development teams head toward reform. To benefit this cause, I’d like to proactively address the range of questions and comments I’ve personally received from investors and lenders who’ve both accepted and rejected my latest offering.
I’m proposing a model for change, and I’d like to outline some of unique strategies deployed by my companies: Ocean Grove Communities and UpTech Industries. In coming posts I will explain how these differ from more traditional approaches to developing, financing, building, marketing, and the delivery of individual homes within a housing community.
“… Providing first time home buyers with tools to tap into the enormous potential that home ownership can play in wealth building and retirement planning”
I will provide an overview on both land development and home building, and how the cost of every home within a given development breaks down from raw land through delivery. I’ll share how and why entry level housing should be developed with the intention of providing first time home buyers with tools to tap into the enormous potential that home ownership can play in wealth building and retirement planning.
I will also address why it is incumbent upon the housing industry to reshape its business model in order to deliver a better built and more sustainable product at a lower price point without having to decrease its own profit margin.
“Progress lies not in enhancing what is, but in advancing toward what will be.” – Khalil Gibran.
It’s time to take a step back, recognize where we’ve been, and envision a promising future for an industry that touches all of our lives, and likewise, create a promising future for the lives that touch our industry.