One Developer's Outlook

Dawanna Williams of Dabar Development Partners discusses the narrower options for mid-sized developers in the current financial climate.

1 minute read

October 28, 2008, 1:00 PM PDT

By Tim Halbur


"I've talked with many developers over the past year, and most say the crisis has caused them to alter development plans. Repeatedly, I hear a couple of typical scenarios. If a developer was lucky enough not to have purchased a market-rate property and is now not obliged to close under a "hard" contract, then the developer will refrain from purchasing. If the developer is already holding property for development, then putting a project together in today's market becomes akin to doing a New York Times crossword puzzle, and the day of the week depends on your creativity as a developer when meeting more complex challenges. For a mid-size developer, that means exercising the right to request more money from partners and investors to get the deal done, as costs and capital requirements increased dramatically in 2008 alone. The additional capital is applied to a range of budgetary line items, which are amplified in a housing slump, including increased costs for construction, increased interest payments, changed equity requirements, and filling gaps between the sales and bank release prices.

To survive, there are three choices for mid-size developers: bankruptcy, a moratorium on new projects, or partnerships."

Wednesday, October 15, 2008 in The Architect's Newspaper

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Bird's eye view of manufactured home park.

Manufactured Crisis: Losing the Nation’s Largest Source of Unsubsidized Affordable Housing

Manufactured housing communities have long been an affordable housing option for millions of people living in the U.S., but that affordability is disappearing rapidly. How did we get here?

March 25, 2025 - Shelterforce

U-Haul truck on road with blurred grassy roadside in background.

Americans May Be Stuck — But Why?

Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?

March 27, 2025 - Alan Mallach

Rusty abandoned oil well and equipment with prickly pear cactus next to it in West Texas.

Using Old Oil and Gas Wells for Green Energy Storage

Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

March 31, 2025 - Pennsylvania State University

Colorful blocky apartment building facade.

Minneapolis Bans Rent-Setting Software

Four cities have enacted restrictions on algorithmic software that can inflate rent costs.

April 1 - Stateline

Silver electric BMW car parked in driveway of home in Oakland, California.

Oakland to Add 244 New EV Chargers

Oakland plans to launch its new charging network at eight locations by the end of 2025.

April 1 - City of Oakland

Sculpture of seated Jane Goodall holding hands with chimp on green lawn.

Jane Goodall Inspires with Message of Hope, Resilience, and Environmental Action

Speaking in Pasadena, Jane Goodall offered a hopeful and inspirational message, urging global compassion, environmental responsibility, and the power of individual action to shape a better future.

April 1 - Pasadena Star-News