A developer’s discussion

By: J. David Chapman/October 19, 2023

At the 2023 CRE Summit, I had the opportunity to facilitate a session called “Asset Management Issues Related to Out-of-State Ownership.” I also participated as a panel member in a session named “Revising the Oklahoma Landlord/Tenant Act” and moderated the last session of the summit called “Innovation in Development – A Developer’s Panel.”

I hand-picked the panel participants for their expertise and experience in development-related matters. Panel participants were Jonathan Dodson with the Pivot Group; Steve Mason with Mason Realty Investors; Matthew Myers, owner of Switchgrass Capital; Todd McKinnis, attorney with Rubinstein and Pitts; and Clay Coldiron with Broadway Development Group.

A standing-room-only audience in the UCO breakout session room was treated to a no-holds-barred, candid, transparent discussion on what it takes to be successful in today’s world of real estate development. To me, it was refreshing for the audience to learn and hear from developers firsthand why they do what they do. I see their sacrifices and commitment to community and societal impact every day. I read on social media posts about money-hungry, greedy developers that harm towns and cities around America. As a former Edmond city councilman and current Oklahoma real estate commissioner, I have not experienced this from our developers, and this session certainly gave them the opportunity to share their hearts and motivations.

Edmond urban-developer Matthew Myers spoke about building community and the ability of the built environment to help address issues such as loneliness by incorporating amenities into his developments that encourage residents to share life together.

Jonathan Dodson shared his company’s strategy of allowing tenants to become partners in the developments in which they occupy space. They are investing heavily in neighborhoods that need financing, focusing on not displacing people from their community, and allowing them to help shape the culture.

For Steve Mason, the passion for a project sometimes means more than financial return. Mason said he redeveloped the old Classen Inn, built in 1963, because it deserved to stay a motel, not to be converted to apartments or torn down.

Clay Coldiron stated that the concern for community and professionalism in the industry has improved over the years and today’s developers are making a positive impact on the markets that they serve. Real estate attorney Todd McKinnis agrees and feels developers get a bad rap and he wishes the public could witness the efforts most go through to improve the cities in which they live.

J. David Chapman is professor of finance and real estate at the University of Central Oklahoma (jchapman7@uco.edu).