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At a time when the credit markets are still on the couch, the deal gives the private developer a fattened purse to fund future development.
Taking a case study of Claycity estate, the paper examines how the relationships between the private developer (land buying company) and purchasers, affect the process of housing development.
"No private developer could have done that.
Recently, a private developer bought the structure.
The private developer, he concluded, was not a "plannable instrument".
And that's what a private developer will do".
Renovation was handed to a private developer, Urban Splash.
"How could they do that for a private developer?
"Working with a private developer, the project must provide a return for its investors," he said.
"You would never build this if you were a private developer," Mr. Ward said.
Mr. Farella has now taken a private developer, the Hudson Companies, as a partner.
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