In the development project, the developer’s duty is to create development from beginning to end. The developer must have clear vision to approach what he wants to do, with strong leadership, he should be a good listener. In the project, he works with people with diverse background such as customers, bankers, investors, city officials, architect, contractor and other people. To lead the whole team to success, developer identifies the opportunities in advance and must manage from people to building. In the predevelopment, his job is mainly three categories of design, financing and marketing. Managing creative process and people are the keys to another success.
In working with architect, owner or developer establishes design goal with designer’s concept and helps the designer to approach design well within the boundaries of developing program and allowable budget. In the process, he encourages the designer’s pursuit and identifies with his idea. If he has architectural knowledge, coordinating work can be easier and smooth. Second, developer makes financial assumption plan based on the current or future business market with potential risks. Failure could lead to bankruptcy. Therefore, making asset strategy for success and relationship between financial networks is important. The credit line from the bank also provides site acquisition and construction financing. Traditionally, the architect needs to consider these components to every design decision such as cost function, aesthetics, time and sustainability. Life-cycle costing affects the decision of the selected form during final design process, but sustainability may increase functionality without harm and to be designed within cycle of living things.
An owner’s principal obligation is to pay the contractor and provide property information related to project like legal description of site or easements. He is required to provide the contractor with drawings and specifications during construction period. There is no relationship between the owner and subcontractors. The AIA General Conditions requires a general contractor to bind all subcontractor and owner. Contractor provides bonds guaranteed the obligations arising out of contract will be paid for reducing an owner’s risk of financial loss on contractor’s defaults. Surety companies guarantee the contractor will fulfill contractual duty to the owner.
From contract to the construction and leasing management process, within limited budget, timing issue and people’s risk are also what he should coordinate and manage in the exact location and time with no delay. In the real estate market cycling, demanding and supply point are different. In the equilibrium point, the developer’s confident and his diverse experience is certainly needed for the project.
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(The project in the west Dallas at the UT Arlington Architecture+Business School 2009) |
From contract to the construction and leasing management process, within limited budget, timing issue and people’s risk are also what he should coordinate and manage in the exact location and time with no delay. In the real estate market cycling, demanding and supply point are different. In the equilibrium point, the developer’s confident and his diverse experience is certainly needed for the project.
