Summary
- Property development companies oversee projects from site evaluation and planning through construction and completion.
- Residential development can include apartments, townhomes, and communities designed around the needs of their residents and surrounding areas.
- Mixed-use development brings residential and commercial uses together within a broader community, creating opportunities for housing, retail, dining, and other services to coexist.
- Fernmoor develops residential and mixed-use communities across New Jersey, Pennsylvania, and Delaware.
Property development brings together many stages of a real estate project, from identifying a potential site to planning, approvals, construction, and the completion of a new community. The process involves decisions about the property itself as well as the people, businesses, and surrounding areas that may become part of the finished development.
For residential property development companies, this can mean creating apartments, townhomes, and other housing communities. It can also involve mixed-use development, where residential properties are integrated with retail, dining, commercial space, or other uses to create a broader community.
Fernmoor specializes in developing residential and mixed-use communities across New Jersey, Pennsylvania, and Delaware. Its portfolio includes apartment and townhome communities, as well as projects that integrate new residential living into established commercial and retail environments.
What Do Property Development Companies Do?
Property development companies oversee the many decisions required to move a real estate project from an initial opportunity toward a completed development.
Depending on the project, this can involve:
- Identifying potential development opportunities
- Evaluating properties and locations
- Studying local housing demand and market conditions
- Assessing the feasibility of a proposed project
- Developing site and community plans
- Working through municipal planning and approval processes
- Coordinating architects, engineers, contractors, and other project partners
- Managing construction and development activities
- Planning residential layouts, amenities, and shared spaces
- Integrating residential and commercial uses where appropriate
- Bringing completed properties and communities to market
The exact process varies by property and development type. A new residential community on undeveloped land can involve different considerations from a mixed-use development that introduces housing into an established retail or commercial environment.
Evaluating a Property Development Opportunity
A potential development begins with understanding the property and its surroundings.
Location, existing infrastructure, transportation access, nearby employment, schools, retail, recreation, and other characteristics can all influence how a site may be developed. Local housing demand and the types of residential properties needed in the area are also important considerations.
The surrounding community matters as well. A property located near an established shopping center, dining district, employment area, or transportation network may present opportunities to connect new housing with services that already exist nearby.
Property development companies need to understand both the opportunities and constraints associated with a site before determining how it can be developed.
How Property Developers Evaluate Housing Demand
A residential development needs to respond to the characteristics of its market.
Property development companies may consider:
- Local housing demand
- Available housing types
- Household needs
- Employment and economic activity
- Population and demographic trends
- Nearby services and amenities
- Transportation access
- Existing residential inventory
- Commercial and retail activity
These factors can influence the type of homes or apartments included in a project, the size of the development, the mix of floor plans, and the amenities incorporated into the community.
Market conditions can also help determine whether a property is suited to a residential-only development or whether a broader mixed-use approach may make sense.
Residential Property Development and Community Planning
Planning a residential development involves determining how the different elements of a community will work together within the available property. The number and arrangement of homes or apartments are only part of the process. Developers also need to consider how residents will access their homes, move through the property, use shared spaces, and interact with the surrounding area.
Site layout can incorporate residential buildings, roads, parking areas, pedestrian pathways, landscaping, recreational spaces, and community amenities. The placement of these elements can affect traffic flow, accessibility, privacy, open space, and the overall experience of living in the community.
The type of residential development also influences the planning process. An apartment community may require different building layouts, parking arrangements, and shared amenities than a townhome development. The property’s location, available infrastructure, zoning requirements, and surrounding land uses can further shape the final community plan.
For Fernmoor, residential development is centered on creating communities that consider both the individual homes and the broader environment in which residents live.
Mixed-Use Property Development
Mixed-use development brings different types of property uses together within a coordinated development.
A mixed-use community may combine:
- Apartments or townhomes
- Retail space
- Restaurants and dining
- Commercial uses
- Recreation
- Public or shared spaces
- Other community-oriented uses
Mixed-use development can also provide a way to introduce residential housing into an established commercial environment. Instead of treating housing and commercial activity as completely separate properties, the development can be planned around how the different uses interact. This type of development allows new housing to become part of an existing destination while adding residential activity to the broader property.
Working Through Planning and Approvals
Property development also requires coordination with local governments and other stakeholders.
A proposed development may need to move through planning, zoning, engineering, environmental, and other approval processes before construction can begin. Requirements vary by municipality and by the characteristics of the property.
Mixed-use projects can involve additional planning considerations because residential, retail, commercial, and other uses need to function within the same broader development.
Developers work with municipal officials, planning professionals, engineers, architects, and other specialists throughout these stages. The development plan may evolve as site conditions, regulatory requirements, infrastructure needs, and community considerations are addressed.
From Development Plans to Construction
Once a development has progressed through the necessary planning and approval stages, construction becomes the focus.
Construction requires coordination among contractors, architects, engineers, suppliers, project managers, and other professionals. The development team needs to maintain alignment between the approved plans and the work taking place on the property.
Depending on the project, construction can include:
- Site preparation
- Infrastructure and utility work
- Residential buildings
- Retail or commercial spaces
- Roads and parking
- Landscaping
- Community amenities
- Shared spaces
- Interior completion
- Inspections and approvals
For mixed-use developments, coordinating these different components becomes particularly important. Residential buildings, commercial spaces, infrastructure, parking, and shared areas need to be developed as parts of the broader property.
Designing Around the Community
Residential property development ultimately creates places where people live, work, shop, dine, and spend time.
That makes the broader community an important consideration throughout the development process. Floor plans, building layouts, amenities, outdoor spaces, parking, accessibility, and connections to surrounding properties can all influence how people experience a development.
Mixed-use communities add another layer to this planning. Residents may benefit from having retail, dining, services, and other destinations within or immediately around the development, while businesses can benefit from being located within an active residential environment.
The result is a development that considers more than the individual residential building and instead looks at how the property functions as a whole.
New Construction and Property Redevelopment
Property development companies may work with both undeveloped land and existing properties.
New construction can involve developing a site for a planned residential or mixed-use community from the beginning. Redevelopment involves working with an existing property and determining how it can be repositioned, expanded, or transformed to support new uses.
Redevelopment can create opportunities to introduce housing into established areas while making use of existing infrastructure, commercial activity, or community resources. This can change how an existing property is used while maintaining connections to the surrounding commercial environment.
What to Look for in Property Development Companies
When evaluating property development companies, it can be useful to consider the breadth of experience they bring to different types of projects.
Important areas to examine include:
- Experience with the relevant property type
- Knowledge of the local markets where the company operates
- Experience navigating development and approval processes
- Ability to coordinate complex development projects
- Experience with residential community planning
- Experience with mixed-use or redevelopment projects
- Approach to amenities and community design
- Track record of completed developments
- Relationships with municipalities and project partners
A company’s portfolio can provide insight into the types of properties it develops and the communities it has experience serving.
Choosing a Property Development Company
Property development requires coordination across planning, approvals, design, construction, and community development. The location and characteristics of each property shape the decisions made throughout the process, while local housing needs and surrounding commercial activity can influence the finished development.
For projects that combine residential and commercial uses, the development team also needs to understand how those different components can function together as a cohesive community.
Fernmoor develops residential and mixed-use communities across New Jersey, Pennsylvania, and Delaware, with experience spanning apartments, townhomes, new construction, and the integration of residential properties into established commercial environments.
Contact Fernmoor to discuss a development opportunity, or view its portfolio to explore its residential and mixed-use communities.
Frequently Asked Questions
What does a property development company do?
A property development company oversees the process of turning a real estate opportunity into a completed property or community. This can involve site evaluation, planning, approvals, design, construction, and preparing the completed development for residents or other users.
What types of properties do property development companies work on?
Property development companies may work on residential communities, apartments, townhomes, commercial properties, mixed-use developments, and redevelopment projects. The types of properties developed depend on the company’s experience and the characteristics of each opportunity.
What is mixed-use property development?
Mixed-use property development combines different property uses within a coordinated development. A mixed-use community may include residential housing alongside retail, restaurants, commercial space, recreation, or other community-oriented uses.
What are the benefits of mixed-use development?
Mixed-use development can bring housing closer to shopping, dining, services, employment, and other destinations. It can also create opportunities to incorporate residential housing into established commercial properties and support activity across the broader development.
What is involved in residential property development?
Residential property development can involve evaluating a site, understanding local housing demand, planning the community, obtaining required approvals, coordinating design and construction, and developing homes, apartments, amenities, and shared spaces.
What is property redevelopment?
Property redevelopment involves changing or repositioning an existing property for a new use or development. This can include introducing residential housing into an existing commercial property or substantially changing how an established site is used.
Why is location important in property development?
Location influences housing demand, accessibility, nearby services, transportation, employment opportunities, and the types of residential or mixed-use communities that may be appropriate for a property.
What should I consider when choosing a property development company?
Relevant experience, completed projects, knowledge of the local market, development expertise, project coordination capabilities, and experience working with municipalities and other project stakeholders are useful factors to consider.
Where does Fernmoor develop properties?
Fernmoor develops residential communities in New Jersey, Pennsylvania, and Delaware, including apartment, townhome, and mixed-use developments.
