Foundations of Real Estate Development Financing A Guide to Public-P

American’s landscape is undergoing a profound transformation as demand grows for a different kind of American Dream--smaller homes on smaller lots, multifamily options, and walkable neighborhoods. This trend presents a tremendous opportunity to reinvent o

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Foundations of Real Estate Development Financing OPOLIT TR

Arthur C. Nelso

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A Guide to Public-Private Partnerships

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Foundations of Real Estate Development Financing

Metropolitan Planning + Design Series editors: Arthur C. Nelson and Reid Ewing A collaboration between Island Press and the University of Utah’s Department of City & Metropolitan Planning, this series provides a set of tools for students and professionals working to make our cities and metropolitan areas more sustainable, livable, prosperous, resilient, and equitable. As the world’s population grows to nine billion by midcentury, the population of the United States will rise to half a billion. Along the way, the physical landscape will be transformed. Indeed, two-thirds of the built environment in the United States at midcentury will be constructed between now and then, presenting a monumental opportunity to reshape the places we live. The Metropolitan Planning + Design series presents an integrated approach to addressing this challenge, involving the fields of planning, architecture, landscape architecture, urban design, public policy, environmental studies, geography, and civil and environmental engineering. The series draws from the expertise of some of the world’s leading scholars in the field of Metropolitan Planning + Design. Please see Islandpress.org/Utah/ for more information. Other books in the series: The TDR Handbook, Arthur C. Nelson, Rick Pruetz, and Doug Woodruff (2011) Stewardship of the Built Environment, Robert Young (2012) Planning as if People Matter, Marc Brenman and Thomas W. Sanchez (2012) Good Urbanism: Six Steps to Creating Prosperous Places, Nan Ellin (2012) Reshaping Metropolitan America, Arthur C. Nelson (2013) Measuring Urban Design, Reid Ewing and Otto Clemente (2013)

Foundations of Real Estate Development Financing A Guide to Public-Private Partnerships

Arthur C. Nelson

Washington | Covelo | London

Copyright © 2014 Arthur C. Nelson All rights reserved under International and Pan-American Copyright Conventions. No part of this book may be reproduced in any form or by any means without permission in writing from the publisher: Island Press, 2000 M Street, NW, Suite 650, Washington, DC 20036 ISLAND PRESS is a trademark of the Center for Resource Economics.

Library of Congress Cataloging-in-Publication Data Nelson, Arthur C. Foundations of real estate development financing : a guide to public-private partnerships / Arthur C. Nelson. pages cm.—(Metropolitan planning + design) Includes bibliographical references and index. ISBN 978-1-61091-561-8 (hardback)—ISBN 978-1-61091-562-5 (paper)— ISBN 978-1-61091-563-2 (e-book) 1. Real estate development—United States—Finance. 2. Real estate development—United States. 3. Public-private sector cooperation—United States. 4. City planning—United States. I. Title. HD255.N45 2014 333.73’150681—dc23 2014004000

Printed on recycled, acid-free paper Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1

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