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Community Initiated Development:
A Manual for Community-Based Real Estate Development

8-1/2" x 11", softcover, 217 pages, plus CD-ROM, National Trust Main Street Center, $75.

Table of Contents

Read the Introduction

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Every downtown has one: an abandoned theater, an empty department store, a grand old bank — buildings that stand empty. Putting these so-called “white elephants” back into productive use can seem like an overwhelming challenge, especially for community-based groups who have the vision but may lack the expertise in real estate development.

This workbook changes a daunting task into an easy-to-follow process by presenting the methodology that real estate developers use for their projects.

Financing, valuation, use, capital costs, operating income and expense, tax credits, partnerships: every real estate term and step in the process is defined and demystified. With these step-by-step instructions, any community group can use its volunteers and its vision to initiate a redevelopment project.

The book includes easy-to-use forms and worksheets to help you gather data, plus an interactive CD with Microsoft Excel spreadsheets to help you make the calculations easily and accurately.

If your group is ready to develop a site downtown, you’re ready for Community Initiated Development.

Table of Contents

  1. What is Community-Initiated Development?
  2. Concept Stage
    • Identify Opportunity
    • Assemble a Co-Development Team
    • Define Role of Co-Development Team Members
    • Consider Appropriateness of Community Initiated Development
    • Formulate Skeletal Plan
    • Identify Information Sources and Assemble Available Studies
    • Where Can We Get Low-Cost/No-Cost Help?
    • Identify Seed Money: Source and Use
    • Evaluate Investment Climate
    • Compare Objectives, Contributions, and Investment Climate
  3. Analysis Stage
    • Analysis Stage Action Plan
    • Supply Analysis
    • Competitive Analysis
    • Assemble Technical Assistance Team
    • Identify Potential Users
    • Consider Site Alternatives
    • The Nine Investment Standards
    • Preliminary Cost Estimates
    • Preliminary Pro Forma Analysis
    • Calculate the Gap Between Cost and Value
    • Preliminary Financial Plan
    • Decision Point — Options
    • Site Analysis
    • Building Condition Analysis
    • Market Analysis
    • Marketability Analysis
    • Physical Design Studies
    • Financial Analysis
    • Appraisal
    • Investment Threshold
    • Identify Legal Issues
    • Public Participation
    • Forms of Public or Nonprofit Participation
    • Compare Objectives/Information
    • The Developer Decision
  4. Preparation Stage
    • Finalize Co-Development Team and Technical Assistance Team
    • Choose Ownership Form
    • Gain Property Control
    • Preliminary Plans and Specifications
    • Prepare City Package
    • Negotiations with Local Government
    • Finalize Plans and Specifications
    • Finalize Cost Estimates
    • Revise Financial Projections
    • Prepare Lender Package
    • Financing Negotiations
    • Prepare Developer/Investor Package
    • Finalize Equity
    • Tax Act Certification Process
  5. Implementation Stage
    • Acquire Property
    • Prepare Bid Documents
    • Bid Project
    • Select a Construction Company
    • Revise Plans and Specifications if Required
    • Marketing and Leasing
    • Finalize Financing
    • Collect Equity Funds
    • Construction Management
    • Tenant Involvement
    • Inspect Construction
    • Certificate of Occupancy
  6. Operation Stage
    • Prepare Property Management Plan
    • Rent-Up of Property
    • Oversee Marketing or Leasing
    • Implement Property Management
    • Management of Ownership Entity
    • Update of Market Conditions
    • Property Improvement as Required
    • Property Disposition
    • Closing of Ownership Entity

Your Guarantee of Satisfaction

Community Initiated Development: A Manual for Community-Based Real Estate Development is guaranteed. If you are not 100% satisfied, you may return it within 30 days for a full refund.

About the Author

Community Initiated Development was written by Donovan Rypkema, a principal of PlaceEconomics, a Washington, D.C.-based real estate and economic development-consulting firm. The firm specializes in services to public and non-profit sector clients who are dealing with downtown and neighborhood commercial district revitalization and the reuse of historic structures.

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