ABSTRACT
Exhibit 19.1 highlights the Physical Improvement Tasks in the context of the Real Estate Development Matrix. The Physical Improvements Tasks require developers to determine what improvements need to be planned, designed, engineered, and constructed. With that determination, developers must be able to plan, design, engineer and/or construct these improvements in a timely, efficient, and cost-effective manner with the objective of adding value to the development. The general public commonly perceives real estate development as the actual construction of buildings. However, the building construction is usually the easiest part of the real estate development process, especially if the design and engineering of the improvements are done correctly. The conceptualization of projects that don't yet exist is a special talent— a talent that some planners and architects can use more than others. The constructed physical improvements must be properly maintained, repaired, and operated to provide the expected service and benefits throughout their economic lives.
