A reliable measure of leadership in homebuilding and development regardless of market conditions isn't just about finding ways to do more with less, but about mastering the art of unlocking future value to overcome current bottlenecks. In the tough-sledding market backdrop of the moment, consider that skill a builder's table stakes. This fourth installment in our five-part series with Launch Development Finance Advisors Managing Principal Carter Froelich highlights one of the most effective yet often misunderstood tools available to builders, developers, and capital partners:
Last week I invited a market-rate developer as guest speaker in my graduate housing class at the University of San Francisco. I told him that invariably a student would ask him about the mayor's so-called "family" upzoning plan. His answer to the students was that it's essentially just political posturing, and won't have much impact on increasing supply. He's a developer, he knows: Development is all about costs and interest rates and financing.