Emerging Developer Workshop Series
The MEDC, KEDA, City of Houghton, and City of Hancock are partnering to host a free 4-part series that will provide attendees with an overview of the basic principles of real estate development and connect them with resource providers and developers in the area.
Overall Goals
- Identify Emerging Developers: Attract and inspire new talent to enter the field.
- Provide a Solid Foundation: Equip attendees with practical knowledge and tools to launch their first project.
- Spark Interest in Local Projects: Showcase opportunities for small-scale developments that make a community impact.
- Connect to Resources: Build awareness of local, state, and national resources available to support developers.
- Encourage Continued Education: Offer pathways for deeper learning through MEDC programs and the Local RE Developer Masterclass.
Session Topics/Take-Aways
Session One: Foundation (2/20/25 4-6 PM @ The Bonfire, Houghton)
- Understanding real estate business structures
- Partnership dynamics and models
- Financial breakdown of development projects (case studies on 2 projects)
- Leveraging community input for project success
- Using resources to support new ideas
Session Two: Plan & State (2/25/25 4-6 PM @ TBD, Hancock)
- Vision creation and project ideation
- Identifying and acquiring suitable sites
- Preliminary underwriting process
- Building the project team: roles & responsibilities
Session Three: Fund (TBD)
- Understanding debt versus equity funding
- Navigating grants and tax incentives
- Developing investor relations
- Mitigating risk in funding strategies
Session Four: Build/Next Steps (TBD)
- Leasing strategies and tenant relations
- Preparing financial presentations for potential buyers
- Best practices in property management
- Long-term development strategies