What is a "Developer" in the context of real property?

In the context of real property, a "Developer" refers to an entity that engages in the process of developing real property and also maintains an ownership interest in the projects it undertakes. This role typically encompasses a variety of tasks, including identifying suitable sites for development, obtaining the necessary financing, navigating the permitting and zoning processes, coordinating construction, and ultimately, marketing and selling or leasing the developed property.

The reason this definition is most accurate is that developers are integral to the lifecycle of real estate projects. They not only initiate and finance the development activities but also usually maintain some level of ownership or investment interest in the final product. This ownership aspect differentiates them from other roles in the real estate sector, such as those involved solely in financing or property management.

On the other hand, entities that only finance projects lack the comprehensive involvement in the development process, while organizations that exclusively manage existing properties do not engage with new real estate development. Similarly, entities that oversee project construction may be involved in the building phase but do not necessarily undertake the broader responsibilities associated with development or retain ownership rights.