Summary
- Choosing a property development company involves evaluating its experience, capabilities, portfolio, and understanding of the markets where it operates.
- Different development opportunities require different expertise, including residential, mixed-use, commercial, and redevelopment experience.
- A development company’s involvement can extend across site evaluation, planning, construction, property management, and long-term community operations.
Choosing a property development company is an important decision for property owners, investors, landowners, and other stakeholders considering a real estate development project. The right development partner needs to understand the opportunity, the market, the property, and the goals of the project.
Experience with similar developments can provide useful insight into how a company approaches planning, community design, construction, and property operations. Geographic experience can also matter, particularly when a project involves local zoning requirements, municipal approvals, infrastructure, and market-specific housing needs.
For property owners considering residential or mixed-use development in the region, this combination of project experience and geographic knowledge can be especially valuable. Fernmoor develops residential and mixed-use communities across New Jersey, Pennsylvania, and Delaware, with a portfolio that includes apartment communities, townhomes, and mixed-use developments.
What Should You Look for in a Property Development Company?
A development company should have capabilities that align with the type of project being considered.
Important areas to evaluate include:
- Experience with the relevant property type
- Experience in the project’s geographic market
- Knowledge of local development requirements
- Residential or commercial development experience
- Mixed-use development experience
- Redevelopment experience
- Site evaluation and land development capabilities
- Construction management experience
- Property management capabilities
- Completed projects and portfolio quality
- Relationships with project partners and municipalities
- Experience managing complex development projects
The importance of each factor will depend on the property and the intended development. A multifamily housing project may require different expertise from a mixed-use redevelopment that incorporates residential and commercial uses.
Experience With the Type of Property
A development company’s previous projects can provide insight into whether its experience aligns with the opportunity.
Residential developers may specialize in apartments, townhomes, senior housing, or other forms of multifamily development. Other firms may focus on commercial properties, mixed-use communities, redevelopment, or a combination of property types.
Experience with the same type of project can help a development team understand the practical considerations involved in planning, designing, constructing, and operating the property.
For example, a developer working on a multifamily community may need experience with residential layouts, parking, amenities, leasing, property management, and resident services. A mixed-use project can require additional experience coordinating residential and commercial uses within the same broader development.
Residential Development Experience
Residential development requires an understanding of how people will use and experience the completed community.
When evaluating a development company for a residential project, it can be useful to look at its experience with:
- Apartment communities
- Townhome communities
- Residential site planning
- Floor plan development
- Community amenities
- Parking and circulation
- Outdoor spaces
- Resident services
- Leasing and occupancy
- Property management
The company’s completed residential communities can provide a practical view of how it approaches these elements.
Fernmoor’s residential portfolio includes apartment and townhome communities throughout New Jersey, Pennsylvania, and Delaware. Its communities incorporate residential buildings with amenities and shared spaces designed around the needs of residents.
Mixed-Use Development Experience
Mixed-use development introduces additional considerations because residential and commercial uses need to function within the same broader property.
A mixed-use community may incorporate:
- Apartments or townhomes
- Retail
- Restaurants
- Commercial space
- Recreation
- Parking
- Shared spaces
- Community amenities
The relationship between these uses can influence the site’s layout, access, parking, pedestrian movement, and overall design.
For property owners considering a mixed-use project, it can therefore be valuable to look for a development company with experience bringing residential and commercial components together.
Fernmoor’s portfolio includes mixed-use developments that integrate residential living with established retail and commercial environments. This approach can introduce new housing into areas where residents can access existing shopping, dining, services, and other destinations.
Experience in Local Real Estate Markets
Real estate development is closely connected to local market conditions.
A development company evaluating a property should understand the characteristics of the surrounding market, including:
- Housing demand
- Existing residential inventory
- Available housing types
- Population trends
- Employment
- Transportation
- Retail and dining
- Nearby services
- Competing developments
- Future development activity
Local knowledge can help inform decisions about the type and scale of development that may be appropriate for a particular property. Geographic experience can also provide familiarity with local municipalities, planning processes, infrastructure considerations, and other factors that influence development.
Fernmoor’s work across New Jersey, Pennsylvania, and Delaware gives the company experience developing residential and mixed-use communities across different local markets, municipalities, and development environments.
Experience With Development and Approvals
A development company needs to understand the requirements that can affect a project before construction begins.
Depending on the property, development can involve zoning, land use, engineering, environmental review, traffic considerations, infrastructure, planning approvals, and other municipal requirements.
Experience with these processes can help a development team identify potential challenges and coordinate with the professionals and government agencies involved.
When evaluating a development company, property owners can ask about its experience working with municipalities and navigating approvals for projects similar to the one being considered.
Site Selection and Land Development Capabilities
A property development company may be involved throughout the full development lifecycle, from identifying and evaluating potential properties through planning, construction, and the ongoing management of the completed community. A vertically integrated approach brings these functions together within a coordinated development process, allowing the company to remain involved across multiple stages of a project.
Land development can involve:
- Site selection
- Property acquisition
- Due diligence
- Environmental review
- Infrastructure evaluation
- Development planning
- Financing
- Purchase agreements
- Coordination with professional consultants
These activities help determine whether a property is suitable for the proposed development and establish the foundation for the project before construction begins.
Fernmoor operates through a vertically integrated business model, with expertise spanning land development, construction management, residential and commercial property management, and sales and marketing. This allows the company to remain involved across the different stages of developing and operating its communities.
Construction Management Experience
Construction management is a central part of bringing a development from approved plans to a completed community. It requires coordination across contractors, architects, engineers, suppliers, project schedules, budgets, inspections, and other moving parts of the construction process.
A developer’s construction capabilities can therefore be an important consideration when evaluating a potential development partner. Experience with proposal development, contractor selection, contract negotiations, project management, and construction oversight can help maintain continuity as a project moves from planning into construction.
Fernmoor’s vertically integrated approach includes construction management capabilities covering proposal development, bid solicitation, contract negotiations, project management, construction oversight, and project close-out. This keeps construction management within the broader development process and supports coordination across the different stages of a project.
Property Management and Long-Term Operations
The development process does not necessarily end when construction is completed.
Residential communities require ongoing management after residents move in. Commercial properties also require continued attention to tenants, maintenance, building operations, and the condition of the property.
A development company with property management capabilities can bring operational experience into the development process.
This can include:
- Leasing
- Resident communication
- Maintenance
- Inspections
- Property improvements
- Tenant relations
- Commercial property operations
Fernmoor has in-house residential and commercial property management capabilities. Its residential management operations include property managers, leasing agents, maintenance personnel, inspections, tenant communications, and property improvements.
Reviewing a Development Company’s Portfolio
A company’s portfolio is one of the clearest ways to evaluate its development experience.
When reviewing completed projects, consider:
- What types of properties has the company developed?
- How large and complex are the projects?
- Where are the properties located?
- Does the portfolio include projects similar to the proposed development?
- Has the company worked on mixed-use or redevelopment projects?
- What types of communities has it created?
- Does the company remain involved after construction?
- How broad is its geographic experience?
A portfolio can provide context that a list of services alone cannot. Looking at completed communities can help property owners understand the scale, property types, locations, and development approaches a company has experience delivering.
Questions to Ask a Property Development Company
Before selecting a development partner, property owners and investors can ask questions about the company’s experience and capabilities.
Useful questions include:
- What types of properties does the company typically develop?
- Has the company completed projects similar to the proposed development?
- Where does the company operate?
- What experience does it have with local municipalities?
- Does the company have experience with mixed-use development?
- Has it worked on redevelopment projects?
- How does it evaluate potential development opportunities?
- What role does the company play during construction?
- Does it provide property management after completion?
- What does its completed project portfolio look like?
- Which development services are handled internally?
- What professionals and partners does the company typically coordinate with?
The answers can help establish whether the company’s experience and capabilities align with the project’s needs.
Finding the Right Property Development Company
The right property development company depends on the type, location, and requirements of the project. Relevant property experience, local market knowledge, development capabilities, construction expertise, and an established portfolio can all help determine whether a company is equipped to take on a particular development opportunity.
For residential and mixed-use projects in the region, Fernmoor brings these capabilities together through a vertically integrated development model. The company develops communities throughout New Jersey, Pennsylvania, and Delaware, with expertise spanning land development, construction management, residential and commercial property management, and sales and marketing.
Explore Fernmoor’s portfolio to see its residential and mixed-use communities, or contact Fernmoor to discuss a potential development opportunity.
Frequently Asked Questions
What should I look for in a property development company?
Look for experience with the relevant property type, knowledge of the local market, development and construction capabilities, a strong portfolio of completed projects, and experience with the regulatory and operational requirements associated with the project.
Why is a property development company’s experience important?
Experience can provide insight into how a company has handled projects with similar property types, locations, development requirements, and levels of complexity.
What types of projects do property development companies handle?
Property development companies may work on apartments, townhomes, mixed-use communities, commercial properties, redevelopment projects, and other real estate developments.
How can I evaluate a property development company’s portfolio?
Review the types, locations, scale, and complexity of completed projects. Look for developments that have characteristics similar to the project being considered.
What is mixed-use property development?
Mixed-use property development combines residential and commercial uses within a coordinated development. These projects may include apartments or townhomes alongside retail, dining, commercial space, recreation, or other uses.
Why does local experience matter when choosing a property development company?
Local experience can provide familiarity with housing demand, zoning, municipal processes, infrastructure, transportation, and other characteristics that influence development opportunities.
Do property development companies manage properties after construction?
Some, like Fernmoor do. Development companies with property management capabilities may remain involved through leasing, maintenance, resident services, commercial tenant management, and ongoing property operations.
Does Fernmoor develop residential communities?
Yes. Fernmoor develops apartment and townhome communities throughout New Jersey, Pennsylvania, and Delaware, along with mixed-use and commercial developments.
Does Fernmoor develop mixed-use properties?
Yes. Fernmoor’s portfolio includes mixed-use developments that integrate residential communities with established commercial and retail environments.
Where does Fernmoor develop properties?
Fernmoor develops residential and mixed-use communities across New Jersey, Pennsylvania, and Delaware.
