Beyond Blueprints: The Real Work of a Developer

In my 17+ years in the real estate development industry, I've often encountered a common misconception: many people believe that being a developer is a glamorous and straightforward job. They envision grand openings, lucrative deals, and the satisfaction of seeing a project come to life. While these elements are certainly part of the experience, the reality of what it truly means to be a developer is far more complex and demanding.

A Legacy of Homebuilding

Coming from a family with a 70-year legacy in homebuilding, I've been immersed in this industry my entire life. My late father, Harry Tancredi, founded TANCO in 1947, a commercial contracting company that I now have the honor of presiding over. This deep-rooted connection to the trade has taught me invaluable lessons about dedication, resilience, and the intricacies of construction and development.

The Scope of Development

As Managing Partner and Co-founder of STG Capital Partners, LLC and Spyglass Homes, LLC, I oversee an extensive and diverse portfolio. Our active pipeline includes over 500 “build-for-rent” units, 300 apartment units, and 5 million square feet of industrial space. Each project presents unique challenges and requires a tailored approach, reflecting the ever-changing dynamics of the market.

The Real Work of a Developer

So, what does it truly mean to be a developer?

Vision and Planning: Every project starts with a vision, but transforming that vision into reality requires meticulous planning. This involves site selection, feasibility studies, zoning regulations, and securing financing. It's a process that demands foresight and strategic thinking.

Regulatory Navigation: Navigating the labyrinth of permits, regulations, and approvals is a significant part of a developer's job. This can be a time-consuming and often frustrating process, but it's essential to ensure that the project complies with all legal requirements.

Coordination and Collaboration: A successful development project hinges on effective coordination and collaboration with a wide array of stakeholders, including architects, engineers, contractors, and local government officials. Building and maintaining these relationships is crucial for smooth project execution.

Risk Management: Every project carries inherent risks, from market fluctuations to construction delays. A developer must be adept at identifying, assessing, and mitigating these risks to keep the project on track and within budget.

Adaptability: The real estate market is dynamic, and developers must be able to adapt to changing conditions. This might involve altering project plans, adjusting timelines, or re-evaluating financial projections. Flexibility is key to navigating these shifts successfully.

Attention to Detail: From the quality of materials to the precision of construction, attention to detail is paramount. This not only ensures the longevity and integrity of the project but also reflects the developer's commitment to excellence.

Commitment and Perseverance: Perhaps most importantly, being a developer requires an unwavering commitment and the perseverance to see a project through to completion, despite the inevitable obstacles and setbacks.

The Satisfaction of Development

Despite the challenges, the satisfaction of seeing a project come to life is unparalleled. It's incredibly rewarding to know that your work has created homes for families, spaces for businesses, and contributed to the growth and development of communities. This sense of accomplishment is what drives me and many others in this field.

In an ever-evolving market, developers must continually adapt and innovate. With my experience and legacy behind me, I am committed to advancing the field and delivering exceptional projects that stand the test of time.