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Orange Vista: A Development Manager Plays Quarterback

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dc.contributor.authorKuhlman, Daniel
dc.contributor.authorOliver, Pike
dc.date.accessioned2020-09-04T19:13:43Z
dc.date.available2020-09-04T19:13:43Z
dc.date.issued2013-07-01
dc.description.abstractThis case tells the story of a newly founded development management company, Palisades Real Estate (PRE), which takes over a challenging residential development project on behalf of its owner. The project is plagued by several onerous developer obligations and outstanding entitlements that have complicated the owner’s exit ambitions, which has led the owner to seek the expertise of a highly talented development management firm that can guide the project to a successful conclusion. After agreeing to a risky compensation structure that defers much of its compensation to the sale of the project, PRE undertakes a complex assortment of restructuring efforts in order to make the project feasible, including the renegotiation of a development agreement, the pursuit of difficult permits, and arrangements for phasing and bond financing. Led by one of its principals, Hal Orin, PRE demonstrates what development managers can do when they’re at the top of their game, and the value that they can add to even the most seemingly doomed projects. The case provides an opportunity for students to learn about what development managers do, how they add value, and how they are compensated.
dc.description.legacydownloads2013_129_145_Kuhlman_Oliver.pdf: 138 downloads, before Aug. 1, 2020.
dc.identifier.other5913095
dc.identifier.urihttps://hdl.handle.net/1813/70711
dc.language.isoen_US
dc.relation.ispartofseriesCornell Real Estate Review
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectCornell University
dc.subjectreal estate
dc.subjectdevelopment
dc.subjectmanagement
dc.subjectvalue creation
dc.subjectentitlements
dc.subjectbond financing
dc.subjectdevelopment agreements
dc.subjectexit strategies
dc.subjectcompensation
dc.subjectrestructuring
dc.subjectvalue
dc.subjectrevenue
dc.subjectpremium
dc.subjectmarket
dc.subjectrecession
dc.subjectrecovery
dc.subjecteconomic
dc.subjectasset
dc.subjectbid
dc.subjectmanagement
dc.subjectpre-development
dc.subjectanalysis
dc.subjectfeasibility
dc.subjectphasing
dc.subjectrelationships
dc.subjectTIF
dc.subjecttax increment financing
dc.titleOrange Vista: A Development Manager Plays Quarterback
dc.typearticle
local.authorAffiliationKuhlman, Daniel: Cornell University
local.authorAffiliationOliver, Pike: Cornell University
schema.issueNumberVol. 11

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CRER Vol. 11 (2013)