An Overview of the Commercial Development Process
Overview
NAIOP Northern Virginia has designed a basic course for real estate professionals from NAIOP member companies who want to learn how fundamental real estate decisions are made. During seven sessions, the course will examine the real estate development process from a practitioner’s perspective – and will show how successful developers actually think about and solve problems. A specific development site is the focus of the seminars.
For the 2025 class, American Real Estate Partners (AREP) will take the class behind the scenes of their transformative CityHouse Old Town office-to-residential conversion project in Alexandria, Virginia. CityHouse Old Town, slated for completion in Fall 2025, epitomizes AREP’s vision for luxury rental living in walkable urban environments, transforming a near-vacant office building into a 200-unit residential property in the heart of historic Old Town. This 7-module course will provide a comprehensive overview of the project’s journey—from the initial concept and strategic decision-making to the innovative office-to-residential conversion process. Participants will gain developer insights from the approach to navigating design, permitting, and leasing challenges and the critical role of partnerships in delivering a high-end urban living experience. Attendees will learn about the importance of creating amenity-rich, sustainable spaces that cater to evolving market demands while enhancing the fabric of the local community.
Recent Press Releases about the project: AREP Announces Completion of Structural Work on Iconic Office-to-Residential Conversion in Old Town Alexandria. AREP Begins Transformation of 1101 King Street into CityHouse Old Town.
Topics
What you will learn:
Module I: The Development Process & Entitlements
- The Development Process
- Site Acquisition
- Entitlements
- Permits
Module II: Real Estate Finance
- Real Estate Finance Overview
- Investment Analysis
- Lender & Developer Perspectives
- Underwriting Strategies
- Case Study
Module III: Real Estate Development
- Project Conception
- Site Acquisition
- Project Feasibility
- Market Analysis
- Project Pro Forma
Module IV: The Design Process
- Land Planning
- The Design Process
- Scheduling/Budgeting
- Managing Design Professionals
Module V: Construction
- Contracting Methods
- Construction Team/Coordination
- Pre-construction, Estimating, Bidding
- Project Management
Module VI: Marketing and Leasing
- Defining the Assignment
- Assembling a Team
- Selling the Project
- Space Planning
Module VII: Site Tour
- Project Tour
- Lessons Learned
Schedule
8:00 AM Breakfast and Networking
8:30 AM Class
10:30 AM Adjourn
NAIOP Development 101 2025 class will be held on the following dates:
Dates are: January 22, February 4, February 19, March 4, March 18, April 1, April 15.
Location
Balfour Beatty Construction
3180 Fairview Park Drive
Falls Church, Virginia 22042
Click for Directions
Registration
$1000 Members
$1200 Non-Members
Click here to register.
Development 101 is chaired by Guy Jeffress with Vanderpool, Frostick, and Nishanian, P.C.
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