What are the most effective tools and resources for researching and analyzing development opportunities?

1 Market Data Sources

When researching and analyzing development opportunities, it's important to understand the current and future market conditions and trends of the area. You should be aware of the supply and demand of different types of properties, such as residential, commercial, industrial, or mixed-use, as well as the prices, rents, vacancies, absorption rates, and demographics of your target market. To get reliable and comprehensive sources of market data, you can use commercial real estate databases such as CoStar, LoopNet, or CBRE. Market research reports from RCLCO, Urban Land Institute, or NAIOP can also provide insights and forecasts on specific sectors or regions. Lastly, local government agencies like planning or economic development departments can give you data and statistics on population, income, employment, land use, zoning, infrastructure, and incentives.

2 Location Analysis Tools

Evaluating the location and site characteristics of a potential project is an essential step in researching and analyzing development opportunities. You should consider the physical, environmental, legal, and social aspects of the site, such as its size, shape, topography, soil, access, utilities, visibility, exposure, noise, hazards, restrictions, easements, and neighborhood. To aid in this process, you can use tools like Geographic information systems (GIS), such as ArcGIS or QGIS; aerial and satellite imagery like Google Earth or Bing Maps; and site visits and surveys to observe and collect feedback from stakeholders and potential users first-hand.

3 Financial Modeling Software

When researching and analyzing development opportunities, it's important to estimate the feasibility and profitability of the potential project. You should be aware of the costs, revenues, cash flows, returns, and risks of the development, as well as the optimal capital structure and financing sources. To assist in this process, there are several software programs available. Spreadsheet programs like Excel or Google Sheets allow you to create and manipulate financial models using formulas, functions, and scenarios. Real estate analysis software like ARGUS or ProCalc provide specialized tools and templates for evaluating different types of real estate projects and investments. And financial simulation software such as @RISK or Crystal Ball enable you to perform sensitivity and risk analysis using Monte Carlo methods and probability distributions.

4 Design and Construction Resources

The final step in researching and analyzing development opportunities is to plan and execute the design and construction of the project. You need to consider the design standards, codes, regulations, and best practices for the type and scale of the project, as well as the construction methods, materials, schedules, and budgets. To ensure a successful project, you should take advantage of valuable resources such as design software like AutoCAD or SketchUp, construction management software like Procore or PlanGrid, and professional associations like the American Institute of Architects (AIA), the Urban Land Institute (ULI), or the National Association of Home Builders (NAHB). These can provide guidance, education, and networking opportunities for real estate developers and professionals.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?