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Ownership > Building a Home |
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Developers A real estate developer makes improvements of some kind to real property, thereby increasing its value. The developer may be an individual, but is more often a partnership, limited liability company or corporation. There are two major categories of real estate development activity: Land Development and Building Development (also known as Project Development). Land developers typically acquire raw land (real property with no improvements or infrastructure) and improve it with utility connections, roads, earth grading, covenants and entitlements. Infrastructure improvement provides a base for further development of built improvements. Covenants define the context in which future development of built improvements may take place (often in the form of deed restrictions on particular parcels: a sort of "private zoning code" limited only to those properties). Entitlements are secured legal permissions from regulatory bodies (typically in the form of permits, but sometimes in the form of re-zoning or planned unit developments). Once these improvements have been made to the raw land, it is typically subdivided and sold piecemeal at a profit to building developers or individuals. Building developers acquire raw land, improved land and/or re-developable property in order to construct building projects. The buildings are then sold entirely or in part to others (usually for a significant profit), or retained as assets to produce cash flow via rents and other means. Some building developers have their own internal departments for designing and constructing buildings (more common among smaller developers), while others subcontract these parts of the work to third parties (typical of larger developers). In recent years, the Cape Fear area has
experienced a construction boom which has included an explosion of real
estate developments and planned communities (see our Real Estate
chapter). While some developments have homes built exclusively by one
company, others have a wide representation of builders and the choice of
builder is left to those who purchase lots within the development. Will
you be dealing with a community or homeowners association with
restrictive rules? Better check before you build. In addition to
builders and contractors previously listed, the following companies are
in the development business. |
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Demarest Company 6933 Running Brook Terrace, Wilmington 910-686-4482 |
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Specializing in well-planned, residential
communities, Demarest Company has been building neighborhoods to come home
to for more than ten years. Demarest Landing and Demarest Village, both
located north of Wilmington in the Middle Sound area, and Devaun Park in
Ocean Harbor on the Calabash River, offer a diversity of residential
lifestyle choices with an emphasis on parks and recreation. Coming soon,
the Demarest Village Swim Club will offer indoor swimming and a fitness
center in a members-only setting. Endorsed by the Governor's Taskforce for
Smart Growth as the "cutting edge" in Traditional Neighborhood Design, the
Demarest Company is building tomorrow’s neighborhoods with yesterday’s
heart. |
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The Davy Group,
119 Durand's Landing, Wilmington, (910) 452-1919 GMC Real Estate, Inc., 20 S. Fifth Street, Wilmington, (910) 343-8823 Landmark Developers, Inc., Wilmington, (910) 392-7201 Logan Developers, Inc., Netherlands Drive, Suite F, Wilmington, (910) 452-7175 Redland Development, 2446 Harbor Lane, Wilmington, (910) 254-4646 |
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State Street Companies |
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One of North Carolina’s most successful real
estate developers, the team at State Street creates some of the finest
multi-family residences in the entire Southeast. Over their 18 years in
business, State Street has acquired or developed more than 11,000
multi-family homes and found its niche in the temperamental real estate
market of the past two decades. With a handsome share of Wilmington’s
most comfortable domiciles peppering their roster of more than 30
statewide developments, State Street’s properties are perfectly suited
for the discriminating buyer or renter. |
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Secof Construction Co. |
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Founded in 1998, SECOF Construction Company is
a full-service builder that is uniquely equipped to handle all aspects of
your construction process in-house. With over two decades of combined
experience, the pride taken in the quality of workmanship is evident in
every home. SECOF homes are built to last, to grow in value, to be
classically good-looking, and to fulfill the buyer's and builder's
expectations. All homes include a 10-year warranty and a 1-year builder
warranty. Customers can choose from hundreds of plans or they can design
one of their own.
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