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Definition of a Developer

After the Great Recession, there was a common view that development was dead for a decade. That might not be the case.

By Tony LoPinto | Updated on May 03, 2011

Definition of a Developer After the Great Recession, there was a common view that development was dead for a decade, down for the count, and with the after effects of the crash still being felt, that view remains in the minds of most investors and financiers. However, developers used to be defined as resilient, optimistic, determined to find a way or make one, and if you gave them a dollar and they would dig a hole. Remember that view? Well interestingly, in premium markets such as New York City; Washington, DC; and a few others; where economics have rebounded, cranes are in the air and plans are on the drawing board for the development of a new round of premium high-rise commercial and residential properties. Perhaps the most telling news is that New York’s Harry Macklowe, winner of the biggest NYC crash award, is back in the fray positioning himself on a Park Avenue development involving a site that he “lost” when his empire went sideways. He’s now back in the middle of it with uncertain economics, but as we all know, give the developer an inch and he’ll run the deal. The bottom-line is that development is rousing from its long sleep and recruiting activity is beginning to gather steam. And just maybe, if Donald Trump ends up in the White House, we’ll see legislation providing a whole host of incentives for developers! God Bless (Save?) America.

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