Real estate development is the art and science of creating places of enduring value

From birth to death all creatures great and small inhabit space. Our dominion over the earth whilst limited in time, affords us the ability to transform mere space into place -- real estate assets of enduring value that we reward with repeat visitation. In some cases we will hold title to or other real ownership interest in a place. But there are many places in which we have only notional ownership that in some respects is more important. In so doing we engage in place making for profit and in turn create real estate assets of enduring value.
The real estate development and investment process embodies the conceptualization, design, delivery (in both a physical and financial sense), activation and management of tangible assets. The essential first step in this process is the conversion of tacit knowledge into explicit knowledge to ensure that our development concept has a laser alignment with ‘real’ as opposed to an imaginary need.
An asset’s Quadruple Net Value (QNV) consists of four distinct components: social/cultural, economic, environmental, and sensory value. This is the measure of enduring value—a holistic value not just to those of us that hold legal ownership of that place but also those that use it, lease it, visit it, embrace and champion that place.
UK Prime Minister, Sir Winston Churchill said in an address to Parliament. "We shape our buildings and afterwards our buildings shape us". Buildings are one form of real estate, but equally important is the place of which they comprise a part. It is this place that we shape that in turn shapes us. How humans engage in place making for profit is one of the best-kept secrets of real estate development and investment. It is how we create real estate of enduring value—place, not just more space.


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