Architect applying to Master of R.E. Development schools.

Wondering if anyone out there has any professional advice on the development market (commercial / mixed use).

I have heard many opposing opinions, some of which make me thing I should wait a few years until restructured financial models are implemented.

Thanks

 

I've done development in the past and will probably do some in the future, its the best of times and its the worst of times. Depends what you want from a project and what your willing to sacrifice personally to make it happen. As a "developer" I will recommend doing the largest project you can get your hands on, its no more work and you make the same percentage.

 

thanks iTimmy.

Would I be incorrect in assuming you dabble with your own investments on the side?

Happen to have any insight on large-scale developers or the equity development market?

(I do not plan on pursuing entreprenuer development post graduation, but will be searching for large firm employers)

 

Not sure what you mean by the first part, I would say I more then dabble with my own investments, it is what I do now, I am what I can best define as a private equity investment banker, in addition to managing my money, I have a few clients lined up and as soon as I can navigate the hurdles set up by the SEC I will be managing money for others.

I have a lot of insight into large scale developers and the investment banking industry as a whole, but it varies greatly by region and how open minded investors are to a changing market. Simply put, it is no longer safe, or wise, to invest how people did 20 years ago; we are in the midst of a global shift and those who don't take notice will be left in the dust. In terms of RE development, huge stuff, mid 9 figure and up is still happening just a bit slower, smaller projects are what is being hit the hardest, small sub-divisions and contractor owned development seems to be what is really losing - at least in this area, 100 miles away thing are different. The ULI(Urban Land Institute) highly recommends getting started as a developer in your home town, for many reasons, but principally because you know the market better then any other market in the world, you have a network of contacts, friends, etc... Unless one is a seasoned developer or working with someone who has a flawless history, getting started in an unknown community in this market I feel would be unwise.

 

thanks for your personal situation.

as a young professional (23) i am increasingly becoming uninterested in the architectural industry. the potential for pay in terms of long term is not satisfactory to my means. i would like to transition into development, and to do so i am willing to take on the loans to go back to school for a MsRED. (currently applying to NYU and Columbia). i am more so interested in the financial basis of producing architecture than creating it...if that makes sense...i am trying to get a feel for the market of large scale developers among firms such as Jones Lang LaSalle / ING, along with F.I. sectors. my major concern is the lack of available loans for property among the credit crunch.

any advice you further have on this subject would be greatly appreciated.

 

What is desired by employers is a re education that they are unwilling to provide. If you are missing re basics, try MIT. No matter where you go, it will be finance, finance, finance. I wish I took as much geography as finance.

Commercial building sales and mortgages are off 70% this year in the US. This horror is far worse than residential. We will shed 25% to 50% of RE finance jobs.

Architect background is very useful! Many project managers are architects. Bad news is you will have to travel all over the country, and be under incredible stress. You might be able to get a degree somewhere in project management?

RE is a big world, there is room for you. Sales, construction, and commercial mortgages are way down. Lots of firms have redeployed personnel to the permitting process for projects that are years down the road. Things should be sorted out by 2012.

Lots of construction was in the government and retail sectors, both of which are too weak to continue

Talk to potential employers before choosing a school. Think about becoming an interior decorator, those catering to high end residential make big $$$