Andrew Avramidis on Breaking Ground: What It Really Takes to Develop Real Estate From Scratch

 

Real estate development is where vision meets execution. Whether it’s a new residential complex, a boutique hotel, or a mixed-use property, ground-up development is a rewarding—but complex—journey. For those intrigued by the idea of creating something from nothing, here’s what it really takes.

Step 1: Finding the Right Site

The success of any development starts with location. Developers assess factors like zoning regulations, access to utilities, market demand, neighborhood growth, and nearby amenities. The right parcel of land can unlock tremendous value—but the wrong one can stall a project before it even begins. Experts like Andrew Avramidis emphasize the importance of deep due diligence and future-proofing site selection to ensure long-term viability.

Step 2: Securing Financing

Real estate development is capital-intensive. Financing often includes a mix of equity (from investors or personal funds), loans (construction and bridge loans), and sometimes mezzanine financing. Having a detailed pro forma and realistic projections is essential to gain lender and investor trust.

Step 3: Navigating Entitlements

Zoning approvals, environmental impact studies, traffic assessments, and building permits—this step involves working closely with local municipalities. It can be the most time-consuming phase of a project, requiring collaboration with legal teams, architects, and community boards.

Step 4: Designing the Project

Architecture and planning bring the vision to life. Developers must balance design ambition with practicality, ensuring the building meets code while appealing to buyers or tenants. Layouts, materials, sustainability standards, and amenities all come into play.

Step 5: Construction Management

From groundbreaking to ribbon cutting, this phase involves managing contractors, timelines, budgets, and supply chains. Delays are common, so contingency planning is critical. Frequent site visits and strong project managers help keep things on track. Andrew Avramidis, known for his hands-on approach, often underscores the importance of transparent communication across all teams during construction.

Step 6: Marketing and Lease-Up

Even before construction is finished, marketing begins. Whether it’s pre-leasing apartments or selling commercial units, a strong marketing strategy is crucial. First impressions matter—staging, photography, and community engagement can make or break interest.

Step 7: Operations or Exit Strategy

Once the property is stabilized (fully leased or sold), the developer may choose to hold it for rental income or exit via a sale. Each strategy comes with different tax implications and returns, so planning ahead is key.

Final Thoughts

Real estate development is not for the faint of heart. But for those with the vision, resilience, and the right team, it can be one of the most fulfilling and financially rewarding paths in real estate. Professionals like Andrew Avramidis serve as prime examples of how thoughtful strategy and disciplined execution can turn complex developments into lasting legacies.