Real Estate Development

Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction, although many developers also manage the construction process.

Developers buy land, finance real estate deals, build or have builders build projects, create, imagine, control, and orchestrate the process of development from the beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate—and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structures, and rent out, manage, and ultimately sell it.

Sometimes property developers will only undertake part of the process. For example, some developers source a property and get the plans and permits approved before selling the property with the plans and permits to a builder at a premium price. Alternatively, a developer that is also a builder may purchase a property with the plans and permits in place so that they do not have the risk of failing to obtain planning approval and can start construction on the development immediately.

Developers work with many different counterparts along each step of this process, including architects, city planners, engineers, surveyors, inspectors, contractors, lawyers, leasing agents, etc. In the Town and Country Planning context in the United Kingdom, 'development' is defined in the Town and Country Planning Act 1990 s55.

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Scholarships for Real Estate Development Majors

Bullet name award deadline Link

AIA San Diego Scholarship

NewSchool of Architecture and Design

Up to $20,000 Varies See Details

AIA San Diego Scholarship

NewSchool of Architecture and Design

award

Up to $20,000

deadline

Varies
See Details

Roslyn K. Berrin Real Estate Scholarship

Commercial Real Estate Women - Miami

$5,000 October 23, 2020 See Details

Roslyn K. Berrin Real Estate Scholarship

Commercial Real Estate Women - Miami

award

$5,000

deadline

October 23, 2020
See Details

CREW Chicago Scholarship

Commercial Real Estate Executive Women of Chicago

Up to $3,000 October 31, 2020 See Details

CREW Chicago Scholarship

Commercial Real Estate Executive Women of Chicago

award

Up to $3,000

deadline

October 31, 2020
See Details

Frederick G. Frost, Jr. ’30 Scholarship Fund for the School of Architecture

Princeton University

Varies Varies See Details

Frederick G. Frost, Jr. ’30 Scholarship Fund for the School of Architecture

Princeton University

award

Varies

deadline

Varies
See Details

Hispanic Contractors Association de San Antonio Inc. Scholarship

Alamo Community College District

Varies September 06, 2020 See Details

Hispanic Contractors Association de San Antonio Inc. Scholarship

Alamo Community College District

award

Varies

deadline

September 06, 2020
See Details