But in the contemporary world of real-estate – corporatized, institutionalized and massively capitalized – is there any longer room for the swashbuckling “merchant developers” or are they doomed to go the way of the wildly-gesticulating floor traders in colourful blazers that once symbolized financial markets?
“There is always room for the entrepreneur,” says Richard Bloxam, JLL’s head of capital markets, Europe, the Middle East and Africa. “It is, however, fair to say that real estate has been on a journey away from total reliance on the entrepreneurial model.”
I’ve written about the institutionalization of the business before. And it’s something I’ve been asking developers that I interview for my BARED blog series. Are the days of the eccentric and larger than life developer behind us?
The consensus appears to be no.
All that has changed is the capital source / stack. The skills that make for a successful developer haven’t changed. You still need to be creative and look for opportunities that others don’t see. You still have to navigate through all of the various constraints – of which there is probably more of today. You still need to be entrepreneurial in spirit.
But in the contemporary world of real-estate – corporatized, institutionalized and massively capitalized – is there any longer room for the swashbuckling “merchant developers” or are they doomed to go the way of the wildly-gesticulating floor traders in colourful blazers that once symbolized financial markets?
“There is always room for the entrepreneur,” says Richard Bloxam, JLL’s head of capital markets, Europe, the Middle East and Africa. “It is, however, fair to say that real estate has been on a journey away from total reliance on the entrepreneurial model.”
I’ve written about the institutionalization of the business before. And it’s something I’ve been asking developers that I interview for my BARED blog series. Are the days of the eccentric and larger than life developer behind us?
The consensus appears to be no.
All that has changed is the capital source / stack. The skills that make for a successful developer haven’t changed. You still need to be creative and look for opportunities that others don’t see. You still have to navigate through all of the various constraints – of which there is probably more of today. You still need to be entrepreneurial in spirit.
What I wonder though is if this change hasn’t undemocratized the business to a certain extent. It seems to me that it’s harder, today, to fly by the seat of your pants with just an idea (and no capital). The barriers to entry feel more significant. But as Richard says, “there is always room for the entrepreneur.” And I believe that.
I would be curious to hear your thoughts.
Also, the next BARED post will be up shortly. Stay tuned.
I was out with for a bike ride the other night with a good friend of mine and we were talking about all of the creative and social media-based projects that we would like to do. Everything from a daily vlog to a regular podcast. Sadly there are only so many things one can focus on.
If you’ve been reading this blog since the beginning of this year, you’ll know that I’ve been trying to write a book on “becoming a real estate developer.” I believe there’s a lot of interest in this topic. It’s the number one question I receive from readers: “How do I become a developer?”
But with everything that’s going on this year, I have decided to turn the research and writing I have done to date into a blog series that I’m calling BARED (Becoming A Real Estate Developer). I’ve interviewed a lot of fantastic people in the business and I want to get that information out there.
The focus of the series – which was the intent of the book – is to uncover the early decisions and first projects that these now successful developers made and took on. In other words, it’s less about their current successes and more about what they did to get there.
So no book. But expect to see the first BARED post very shortly. I think I’ll start with 3 posts and then gauge the response.
What I wonder though is if this change hasn’t undemocratized the business to a certain extent. It seems to me that it’s harder, today, to fly by the seat of your pants with just an idea (and no capital). The barriers to entry feel more significant. But as Richard says, “there is always room for the entrepreneur.” And I believe that.
I would be curious to hear your thoughts.
Also, the next BARED post will be up shortly. Stay tuned.
I was out with for a bike ride the other night with a good friend of mine and we were talking about all of the creative and social media-based projects that we would like to do. Everything from a daily vlog to a regular podcast. Sadly there are only so many things one can focus on.
If you’ve been reading this blog since the beginning of this year, you’ll know that I’ve been trying to write a book on “becoming a real estate developer.” I believe there’s a lot of interest in this topic. It’s the number one question I receive from readers: “How do I become a developer?”
But with everything that’s going on this year, I have decided to turn the research and writing I have done to date into a blog series that I’m calling BARED (Becoming A Real Estate Developer). I’ve interviewed a lot of fantastic people in the business and I want to get that information out there.
The focus of the series – which was the intent of the book – is to uncover the early decisions and first projects that these now successful developers made and took on. In other words, it’s less about their current successes and more about what they did to get there.
So no book. But expect to see the first BARED post very shortly. I think I’ll start with 3 posts and then gauge the response.
I wasn’t intending to leave. I wasn’t looking to leave. And frankly, I felt conflicted. But sometimes life has a funny way of presenting opportunities that you just have to say yes to. As my mother likes to tell me: “Life is what happens to you while you’re busy making other plans.” More on this in a later post. Stay tuned.
What I would like to talk about today are the opportunities that this may create for some of you. There are now two open development positions at CAPREIT. Both positions would be based in downtown Toronto (St. Lawrence Market).
The first opportunity is essentially a Director level role where you would be responsible for growing the development team at CAPREIT. You should be able to lead a team, identify new development opportunities, create pro formas, assemble/manage consultant teams, secure development approvals for complex urban infill sites, and generally lead projects and people through the entire development lifecycle. For more information and to apply, click here.
The second opportunity is at the Coordinator level. You would be reporting day-to-day to the above person and you should have working knowledge of the development process. For more information and to apply, click here.
I would just like to add that in both cases you would be working on some very exciting urban infill projects and you would be joining an organization with great people and a great corporate culture. I mean this sincerely. If you have any questions about the two roles, feel free to reach out to me directly. And if you’re in the market, consider applying.
I wasn’t intending to leave. I wasn’t looking to leave. And frankly, I felt conflicted. But sometimes life has a funny way of presenting opportunities that you just have to say yes to. As my mother likes to tell me: “Life is what happens to you while you’re busy making other plans.” More on this in a later post. Stay tuned.
What I would like to talk about today are the opportunities that this may create for some of you. There are now two open development positions at CAPREIT. Both positions would be based in downtown Toronto (St. Lawrence Market).
The first opportunity is essentially a Director level role where you would be responsible for growing the development team at CAPREIT. You should be able to lead a team, identify new development opportunities, create pro formas, assemble/manage consultant teams, secure development approvals for complex urban infill sites, and generally lead projects and people through the entire development lifecycle. For more information and to apply, click here.
The second opportunity is at the Coordinator level. You would be reporting day-to-day to the above person and you should have working knowledge of the development process. For more information and to apply, click here.
I would just like to add that in both cases you would be working on some very exciting urban infill projects and you would be joining an organization with great people and a great corporate culture. I mean this sincerely. If you have any questions about the two roles, feel free to reach out to me directly. And if you’re in the market, consider applying.
