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Real estate development and finance

Published on August 29, 2024   8 min

A selection of talks on Finance, Accounting & Economics

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0:00
Welcome again to Real Estate Finance. This is the last talk of the 10-part series on this subject and the third and last talk on Real Estate Finance. I'm John McDonald, Emeritus Professor of Economics, University of Illinois, Chicago and Emeritus Professor of Real Estate from Roosevelt University. The talk this time is about real estate development and finance. This last presentation provides an outline of the typical process involved in getting a real estate development up and going and the financing that is used for that purpose.
0:46
The actors in the real estate development drama, there are several. There's the local elected officials who will play a role, the citizens, including nearby neighbors, real estate developers, and the planners that are employed by the local government.
1:08
The local public officials include the mayor who has an agenda and then city council members with their own districts that may have their own specific goals in mind. As I say here, one may represent a slum, another a high-income area, and so those people would have very different goals in mind for their own districts.
1:34
Then there are citizens, of course, including the nearby neighbors. Citizens vote for mayor and their council members and so they have their own interests in mind as well and that nearby neighbors especially to the site of the proposed development, often worry about something "new" coming in and may have a parochial interest in keeping the neighborhood as it is. In other words, "not in my back yard".

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