Organic builder synergy is the ability to translate the identity created into action and deliverables. The key here is the first builder in the project, which often sets the tone for the remainder of the development. This happens in several ways, but perhaps the most influential is architecture and design. These factors drive many others, including demographic consumption, sales price, desirability and eventually marketability. Many a great project has been hobbled by a builder/tenant who is not in sync with the market, even if the development is well planned. Execution, even through the last sale, is critical. This becomes more crucial as the development gets larger and the builder/tenant participants become more diverse. Covenants and restrictions can ensure cohesive synergy only so far. The rubber meets the road when it comes time to make the sale. It is sometimes best to decline a sale than to accept it, in the long run, or the terms of

the deal. If a buyer is willing to take a substantial portion of the risk, then it may make sense to alter the identity you have chosen. Weigh not only the financial impacts but the political ones. And watch out for potential competitors who not only build, but develop. Do not help a fellow developer compete for your market share by providing to him a leverage point in your development.