What Does a Real Estate Development Project Entail?

The president of New Point Fabrics and Kaslen Textiles, David Raminfard has been a leader in the drapery and upholstery industry since 2010. He brings close to four decades of experience to the California firms, supplying fabrics to high-end designers and manufacturers. Alongside, David Raminfard has worked in both commercial and residential real estate development.

Real estate development is the process through which firms or entities construct or reconstruct the built environment. The first step is discovering a real estate need that isn’t being met by current property. A residential example would be building a condominium with rentable units so that the property produces income; a commercial example would be converting an old theater into a food court, if there is demand for one in the neighborhood. If it appears that a proposal is viable, the investors conduct research to assess the viability of the project. They may then allocate additional resources to design, approvals, and construction, and then proceed to modify the land or property according to the plan and budget.

By its nature, real estate development brings together a variety of disciplines in order to achieve the objective of improving or developing the physical environment. Land-use planners, engineers, building contractors, attorneys, consultants, architects, financial institutions, and investment specialists are just some of the professionals who collaborate on the development process.