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Handling all development roles pays off in era of specialists

Posted by   /  October 29, 2019  /  No Comments

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From the rooftop pool at Optima Kierland Village. / File photo

By Jeffrey Steele | Forbes

In an age of increasing development costs and growing paucity of available land, much rides on every real estate project. That’s why most large multifamily endeavors involve collaborations of specialists intently focused on their respective areas of expertise. This team includes architect, developer and general contractor, who ultimately turn over the reins of completed properties to a property manager or sales broker.

Scour the nation’s multifamily industry, and you’re unlikely to find many firms bucking this trend. One that unabashedly does is Glencoe, Ill.-based Optima, Inc. Founded by acclaimed architect David Hovey, Optima Inc. has handled all these roles for each Chicago-area and Arizona project it has undertaken since launching in 1978.

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  • Published: 4 months ago on October 29, 2019
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  • Last Modified: October 29, 2019 @ 9:24 am
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