What Is a Construction Developer?
Financing a construction project relies on having considerable funds available and for many individuals this isn't possible. Though there are some wealthy individual developers, it's more common for a collective of people to form a development company to spread the costs and risks of a construction project among a group. A construction developer is an individual or organisation involved in the procurement of land and construction of buildings on that land.
Project Feasibility
One of the principle roles of a developer is to assess the feasibility of a project. Feasibility studies look at all aspects of construction viability including construction site acquisition, planning consents, financing and appointing a professional team to undertake the design and construction. Historically, a developer's role was the remit of an architect and for many projects still is, but for larger projects it's more common for developers to take a managerial role and apportion work to construction professionals who can undertake and complete their own specialized roles within a project.
Financing and Project Timing
Developers are often the main financiers of construction projects. Many developers will have served apprenticeships in construction trades and will have a clear understanding of building design and construction related issues. Some developers will have in-house accountants who are aware of the financial aspects of running construction projects and more importantly when to begin them. Project success is often time-dependent as many buildings are built speculatively relative to economic trends that can quickly change.
