My Non-negotiables for Picking a Residential Development Site

In real estate development, site selection is where everything begins, and where most projects live or die. Over the years, I’ve walked hundreds of parcels, sat through countless planning board meetings, and pushed deals across the finish line. Through all of it, I’ve narrowed my approach down to a few core criteria that separate viable opportunities from expensive distractions. These aren’t just “nice to have.” They’re essential for financial performance, resident retention, and long term neighborhood fit.

1. Rents That Are Steady and Predictable
   Before anything else, the deal has to pencil. That starts with understanding the rent profile of the neighborhood and where it can go, not a glossy broker version. I avoid overheated submarkets where rents shoot up too fast and tenants are stretched thin. That volatility leads to turnover, vacancies, and bad assumptions. I look for areas with consistent, sustainable rents that reflect real income growth and a solid tenant base, including C and D markets where working professionals and families who value quality space could be enticed to live. A lot of times, these are areas that banks and other financial partners aren’t interested in lending in. I’ll pull comps, absorption data, and lease histories to project yields based on reality, not wishful thinking. If the underwriting relies on aggressive rent bumps to make the numbers work, it’s usually a pass.

2. Walkability to Daily Amenities
   Location isn’t just about a pin on the map. It’s about how people live day to day. I prioritize sites where residents can handle their daily routine on foot, with a grocery store, school, coffee shop, or park within a 10 to 15 minute walk. That kind of accessibility builds community, reduces car dependence, and gives a neighborhood real staying power. Sometimes that means bringing in the services myself. I do my own on the ground assessment, walking the neighborhood morning, noon, and night. Can you pick up groceries, make dinner, catch mass transit into the city, and meet a friend for a drink without getting in a car? Do I feel safe enough and do I see it getting better? If the answer is yes, retention goes up and leasing velocity follows.

3. A Healthy Tree Canopy
   It sounds like the urban planner in me, but tree cover is a powerful signal. Street trees correlate directly with neighborhood investment and livability. During site walks, I pay close attention to shade, canopy density, and the general feel of the streetscape. Blocks with mature trees invite pedestrian activity, increase comfort, and usually indicate stable, better resourced communities. On the flip side, barren streets often point to deferred investment and a tougher road through approvals and leasing. Trees don’t just look good, they drive property values, cool urban heat, and signal a neighborhood people want to be in. One thing I’m known for in every project I do is hiring a master arborist and including street trees in all of our site plans.

4. Access to Third Places
   Every strong neighborhood has spaces where people connect beyond home and work. As Richard Florida noted in The Rise of the Creative Class, informal gathering spots like cafés, gyms, bookstores, and neighborhood bars build social capital and anchor communities. In a hybrid work world, proximity to these places isn’t fluff, it’s a leasing advantage. I map nearby options to ensure residents have places to meet, socialize, and build connections. These anchors reduce turnover, drive word of mouth leasing, and create neighborhoods people want to stay in.

Good site selection blends hard data with boots on the ground intuition. By holding firm on these four criteria, rents, walkability, trees, and third places, I’ve been able to build projects that perform financially and genuinely strengthen their surroundings. I hope to keep doing so for as long as I can.