![]() We secured entitlements that allow us to build up to 3,000 residential units, 400,000 square feet of retail, restaurant and entertainment space, approximately a million square feet of office and up to 400 hotel rooms. That’s probably a $2.5- to $3-billion project across 42 acres. High Street in Atlanta is almost twice as big. Regent Square is a $2 billion, 24-acre mixed-use project that will ultimately include approximately 2,000 residential units, 400,000 square feet of retail, restaurant and entertainment space and 250,000 square feet of new office space, as well as new streets, parks and public spaces. These are both very extensive undertakings. One is in Houston, called Regent Square, and a second is in Atlanta, called High Street. We have two very large-scale multi-phase mixed-use projects in play at the moment. ![]() We specialize in high-rise luxury multifamily buildings and iconic mixed-use projects that create a real sense of community. ![]() Will you highlight GID’s current development projects? Now, looking back ten years later, you can see that we’ve been able to attract the best capital partners in the world, including the world’s largest construction lenders and the world’s largest sovereign wealth funds. We then began pursuing increasingly larger and more complex developments and our team of people began to grow larger as well.Īs our projects and our team got bigger and our development programs became more complex, we were attracting larger and more diverse capital sources. By the time we finished those projects, rent growth was on the upswing. We had really nice timing on some of those early projects. We were able to get out of the gates early and build a very favorable pricing, even if we couldn’t convince construction lenders. In fact, it was so early in certain cases that we built some of our initial projects with all of GID’s own equity – without construction lenders – because we saw the light at the end of the tunnel for certain asset classes, particularly multifamily, more quickly than others. We then began to build fairly early in the cycle. This allowed us to create some advantageous development scenarios, either because the land basis was less expensive or because we were able to work with municipalities during the downturn to create more favorable zoning approvals or tax incentives. It also provided the opportunity to put projects together and to get land assemblages, entitlements and approvals in place during a downturn. We were able to attract very good personnel because we were creating something new and growing at a time when others were contracting. This would not seem to be the greatest time to be starting a new development business, but in hindsight it offered some interesting opportunities. We formed GID Development Group in 2007, and very quickly thereafter we started to enter the great recession. What is the history and heritage of GID Development Group and how has the business evolved? With offices in Boston, New York, Washington, D.C., Atlanta, Houston, Denver, San Francisco, and Los Angeles, GID employs nearly 900 real estate professionals throughout the United States and has divisions specializing in development, acquisitions, real estate funds, property management, and portfolio and asset management. During its corporate history, GID has developed or acquired over 80,000 residential units and 17 million square feet of commercial space in 24 states and three continents across all asset classes including multifamily rental properties, for-sale condominiums, industrial, retail, office, hotel and parking uses. in Urban Planning from Columbia University.įounded in 1960, GID ( gid.com) is a privately-held and fully-integrated real estate company that develops, owns, and operates a premier portfolio of existing properties and development projects valued at over $18 billion. ![]() in civil engineering from Lehigh University as well as an M.S. He has been a member of the International Council of Shopping Centers, the Urban Land Institute, the Urban Development Mixed-Use Council of the Urban Land Institute, and the Congress for New Urbanism. Earlier, he worked for Trump/New World Project Management (The Trump Organization and New World Development). He was previously a Senior Vice President with Related for 10 years. Prior to GID, he worked with several of the nation’s most high-profile real estate organizations. With 28 years of real estate experience, James Linsley also serves on the Executive Committee and the Investment Committee of GID. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |