Owners keep the asset
An owner of land or capital who wants to build has two broad options: bring in a developer partner, who usually takes a share of the project, or hire a development manager and keep it. Development management leaves the asset, the contracts and the decisions with the owner.
How it works
The owner contracts the architect, the engineers and the consultants directly. The development manager prepares each decision, assembles the team, directs it and holds it to the schedule and the model, from the first site read to the finished building.
What the owner keeps
- The land and the building.
- The approvals, the drawings and the reports, under the owner's own contracts.
- Every decision: pathway, program, team and capital.
One operation
A multifamily project draws on more than a dozen licensed disciplines. With one manager leading all of them from site evaluation through delivery, the decisions made at the front end hold through design, permits and construction without being renegotiated at each handoff.
Questions
- Can a landowner develop multifamily without a developer partner?
- Yes. With a development manager, the owner keeps the asset and contracts the licensed team directly, while the manager leads the project.
Sources
These guides summarize the code text for general information and are not legal advice. Every site is read under the code, the overlays and the ordinances that apply to it on the day of preparation.
TECTO GROUP takes multifamily sites through these pathways for owners, from the first study through entitlement and design to a permit ready to issue. Send the address of the site under consideration.
Email lucas@tecto.group