Developers explain capital stack: who invests, when and why they stay involved
Developers described equity, debt and nontraditional financing; speakers said investors balance market alternatives, risk and time horizon — and recommended cities consider revolving loans to reduce expensive construction debt.
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Developers on the panel described three main financing flavors for housing projects: debt, equity and nontraditional public or philanthropic financing. Locke Litwer said investors fall broadly into people who want a return and those motivated by mission; he stressed developers must align to their investors' risk and time preferences.
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