Development is where the most significant returns in real estate are manufactured. The ability to acquire land or an underperforming asset, navigate the entitlement and construction process, and deliver a completed, stabilised product at a cost well below its market value is the highest form of real estate skill. Current development underwriting may target IRRs in the 15–30% range depending on project type, leverage, market conditions, development costs, and exit assumptions.
Steve Ford’s Development division operates across three distinct development strategies each requiring a different skill set, capital structure, and timeline, but all sharing the same foundational discipline: we do not begin a development project without a confirmed exit thesis, a conservative budget with 5% – 10%+ contingency, a realistic timeline that accounts for Atlanta’s regulatory environment, and underwriting that still generates acceptable returns if delivery costs come in above budget and stabilisation takes longer than planned.
Development is the highest-risk, highest-return dimension of our investment platform. It is not appropriate for every investor or every allocation. When it is appropriate and when the execution discipline is genuine it creates returns that no other strategy can replicate.
| PROGRAMME | DESCRIPTION | TIMELINE |
|---|---|---|
| Build-to-Rent Community Development | Ground-up development of purpose-built single-family and townhome communities designed for institutional rental. 20–80 homes on a single site in Cobb and Cherokee Counties. Managed as a unified portfolio post-stabilisation. Target rents $1,800–$2,400/month. Exit to institutional BTR buyer or hold for income. | 24–42 months from land acquisition to stabilisation |
| Luxury Residential Spec Development | Acquisition of premium residential lots in Buckhead, Sandy Springs, and Johns Creek. Construction of 5,000–8,000 sf luxury homes at $2.5M–$5M at completion. Sold to end-users — corporate executive buyers, international UHNW purchasers. Steve Ford Luxury Homes division executes through established luxury builder partnerships. | 18–28 months from land acquisition to sale |
| Value-Add Adaptive Development | Acquisition of significantly distressed or functionally obsolete properties for comprehensive repositioning. Small multifamily buildings converted from low-density to higher-density residential. Commercial properties converted to the highest-and-best-use alternative. Requires entitlement navigation but creates value that straight renovation cannot. | 18–36 months depending on entitlement complexity |
Steve Ford’s development execution advantage is the integration of four capabilities that most developers must source externally — creating coordination risk, cost overruns, and timeline slippage:
| CAPABILITY | INTERNAL OR PARTNER | ADVANTAGE |
|---|---|---|
| Site Identification & Acquisition | Internal (Acquisition division) | Off-market land acquisitions through broker relationships. Land purchased at developer pricing, not retail pricing, through volume relationship advantages. |
| Entitlement & Zoning Navigation | Internal + Specialist Attorneys | Prince's decade of Atlanta county relationships (Fulton, Cobb, Cherokee, DeKalb) and city municipality experience accelerates the entitlement process that kills timelines for inexperienced developers. |
| Design & Architecture | Established Atlanta Architect Partnerships | Relationships with Atlanta-based architects who understand Georgia building codes, neighbourhood design standards, and county-specific approval requirements — eliminating the learning curve that delays out-of-state development firms. |
| Construction Management | Prolific Home Services (Steve Ford subsidiary) | In-house construction management through our Prolific division. Preferred contractor relationships built over 10+ years. Renovation and construction at preferred pricing versus retail. Quality control enforced by the same team that owns the investment outcome. |
| Sales & Leasing | Internal + Brokerage Division | Luxury sales through Steve Ford's Brokerage division and established luxury agent relationships. BTR leasing through internal property management infrastructure. |
Our development programme is designed for investors who understand and accept the specific risk profile of real estate development — and who are attracted by the return premium that risk profile commands:
These are project-specific underwriting targets, not guaranteed outcomes. Include assumptions, risks, leverage, liquidity, and loss-of-capital disclosures. All return projections are targets based on current underwriting assumptions. Actual returns may vary materially. Past performance is not indicative of future results.
Investments involve risk including potential loss of principal. Opportunities available to accredited investors only.
