The Conception and Implementation of a Real Estate Development Project
Clayton Bruce Isom
Abstract
Open-access reader
Clayton Bruce Isom
Abstract
Open-access reader
Real estate development is a vast and very complex sector of the business world.Due to the natural growth in population, the transition of raw land into developed land is and always will be a major part of the real estate industry.In order for neighborhoods or shopping centers to be buih in an area, infrastmcture has to be put into place.Infrastmcture ranges from the streets, to curbs, to drainage, to park areas, to utilities.This is what land developers do, they input the infrastmcture, thus transforming raw land into developed land.Late last summer, I formed a company, ICS Investment Group, LLP.This company is in the business of developing residential land.Currently, we are developing three different tracts of land.I have been asked over and over again why I am doing this at such a young age.My answer is because over the last four years, I have been given the attitude that I can do anything that I put my mind to, no matter how expansive.During my college career, I have chjmged my major four different times, from business to petroleum engineering to economics and back to business economics.This experience taught me that I could in fact climb any mountain that sits on the horizon.Additionally, several honors classes have taught me how important it is to think "outside of the box."Specifically, I was a student in a class taught by Andy Wilkinson called The Llano Estacado and the Sense of Place.One would think that studying about the Panhandle of Texas would be mundane, however, I learned more about life in that one class than I did in most others combined.Andy not only insisted that we change the way we looked at the simplest of things, but he also set clear hurdles for the class to overcome
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Real estate development is a vast and very complex sector of the business world.Due to the natural growth in population, the transition of raw land into developed land is and always will be a major part of the real estate industry.In order for neighborhoods or shopping centers to be buih in an area, infrastmcture has to be put into place.Infrastmcture ranges from the streets, to curbs, to drainage, to park areas, to utilities.This is what land developers do, they input the infrastmcture, thus transforming raw land into developed land.Late last summer, I formed a company, ICS Investment Group, LLP.This company is in the business of developing residential land.Currently, we are developing three different tracts of land.I have been asked over and over again why I am doing this at such a young age.My answer is because over the last four years, I have been given the attitude that I can do anything that I put my mind to, no matter how expansive.During my college career, I have chjmged my major four different times, from business to petroleum engineering to economics and back to business economics.This experience taught me that I could in fact climb any mountain that sits on the horizon.Additionally, several honors classes have taught me how important it is to think "outside of the box."Specifically, I was a student in a class taught by Andy Wilkinson called The Llano Estacado and the Sense of Place.One would think that studying about the Panhandle of Texas would be mundane, however, I learned more about life in that one class than I did in most others combined.Andy not only insisted that we change the way we looked at the simplest of things, but he also set clear hurdles for the class to overcome
Key concepts: Real estate development, Real estate, Engineering management, Engineering, Business, Finance