Who We Are
787 Developers was founded in 2012 by Jonathan Lee after several years spent in property management and construction. The goal was to use his extensive knowledge of the emerging neighborhoods in the Austin Area to strategically create high returning infill redevelopment projects. As time has gone on, the company has found it's identity in doing highly creative urban development projects that focus on enriching local community.
To date, 787 Developers has completed the redevelopment of 10 units in Austin, 1 in Dallas, and currently has over 150,000 square feet of residential and commercial projects in development. Going forward we hope to grow our experience in larger mixed-use urban development projects as well as expand our development efforts into additional high-growth cities throughout the country.
Our Heart-Beat for Development
Trust. Create an unparalleled experience for our investors that involves consistent transparency, outstanding returns, and a commitment toward a long-term relationships with them.
Creativity. Use creativity and cleverness to develop in a way that adds personality, energy, and rich ambiance to the neighborhood.
Community. Use development as a tool to encourage socialization and the proliferation of rich community.
Much of our development strategy revolves around identifying isolated, disconnected areas of the city and then adding new development that creates amenities, connectivity, vibrancy, social interaction, and value for the surrounding neighborhood. In the long-run this creates high demand for a neighborhood that previously had very little.
This strategy allows to be both a blessing to the community and to provide strong profits for our investors - a win/win for everyone.
What Makes Us Successful?
Repeat Clients. All of our investors to date have become repeat investors. This simplifies our lives greatly as trust increases and greater momentum begins to build. It also allows us to focus more of our time and resources on running development projects and less of it on marketing and selling our services.
Talented Subcontractors. We've spent a number of years culling through many companies to build a very solid team of subcontractors - some of which we have had continuing relationships with us for as long as 9 years now. Maintaining consistent crews that know how to work with one another massively increases our speed and efficiency.
Strong Knowledge of The Code. In our industry, projects live and die by the land development code. We've made knowing the land development code intimately into a strength that allows us to analyze deals faster and to be able to get more bang for our buck on the land that we do acquire.
Wholesaler Network. We have built relationships with a number of wholesalers throughout the years that allow us to purchase off market listings quite regularly. The savings that we get through acquiring property in this way can often lead to purchase prices that are discounted by 20% or more of what we would pay to buy them off the public real estate listing services.
Intensely Organized. Our projects often involve many months of design, complicated maneuvering of an ever increasing amount of bureaucracy, managing dozens of crews throughout construction, and showcasing the end result to a myriad of buyers and investors. Handling this much responsibility requires an intense amount of organization. To try and gain an edge over our competition, we are constantly making moves to new technology and processes that allow us to increase our company organization and to accomplish more with resources.