Don't just sell your lot. Develop it — and keep the upside.
Most shore homeowners have two options: sell at lot value or renovate at their own expense. A joint venture with Redfern Ocean gives you a third path — keep ownership, contribute your property, and share in the value of a fully developed new construction project.
How the joint venture model works
A joint venture is a partnership: you contribute your property, Redfern Ocean contributes capital and expertise. Together, we develop the property and share the proceeds when it sells.
You contribute
- Your property (the land)
- Patience (build cycle timeline varies by project)
Redfern Ocean contributes
- All development capital
- Architecture & engineering
- Permitting & construction management
- 40 years of development expertise
Example: Sea Isle City JV
Illustrative example — actual results vary by property, market, and timing.
| Property as-is value | $650,000 |
| Lot value (development basis) | $750,000 |
| Development cost (Redfern funds) | $800,000 |
| Completed project sale price | $2,200,000 |
| Net profit (after costs & commissions) | ~$520,000 |
| Owner's share (lot value + 30% of profit) | ~$906,000 |
| vs. selling at lot value | $750,000 |
In this example, the JV returned ~$156,000 more than an outright sale — a 21% premium for the owner. Baseline lot value is protected even if the market softens.
Typical JV timeline
Agreement (2–4 weeks)
We review your property, model the project economics, and present a JV proposal. You review with your attorney. No cost, no obligation.
Design & Permitting (3–5 months)
Our architects design the new construction to maximize value within zoning constraints. We manage the full permitting process.
Construction (10–14 months)
Demolition, foundation, framing, and finish. Redfern Ocean manages every subcontractor, inspection, and decision. You receive regular progress updates.
Sale & Distribution (1–3 months)
The completed home is listed and sold through a local Realtor. Proceeds are distributed according to the JV agreement.
Frequently Asked Questions
How does a joint venture with Redfern Ocean work?
You contribute your property. Redfern Ocean contributes the capital, expertise, and construction management. Together, we develop the property into modern, elevated new construction. When the completed project sells, proceeds are split according to a pre-agreed formula that reflects each party's contribution.
Do I retain ownership of my property during the JV?
Yes. You retain ownership throughout the development process. The JV is structured as a partnership agreement, not a sale. Your property is the foundation of the venture, and you participate as an equity partner.
What is a typical profit split in a Redfern Ocean JV?
JV splits typically range from 25% to 50% of net profit, structured per deal based on location, lot value, and market conditions. This is in addition to a baseline return that reflects your property's as-is value. We present the full financial model before you commit.
What costs am I responsible for?
None. Redfern Ocean funds the entire development — architecture, engineering, permitting, demolition, construction, landscaping, and sales costs. Your contribution is the property itself.
How long does a JV project typically take?
Approximately 6 months from demolition to sale-ready, following the same timeline as a standard spec build. Total project timeline may extend depending on permitting, design selections, and market conditions. We provide a detailed timeline at the start of every project.
What happens if the project doesn't sell at the expected price?
Market conditions can change, but our projections are conservative and based on real comp data. The JV agreement includes provisions for various sale scenarios, and your baseline return is protected in most downside cases. We review all risk scenarios with you before you commit.
Can I do a JV if I have a mortgage on the property?
In many cases, yes. The mortgage gets satisfied as part of the project economics. We evaluate the full capital stack — including any existing debt — when modeling the JV structure.
Why would I choose a JV instead of just selling?
A direct sale gives you a certain price today. A JV gives you a share of the final developed value — which is typically 2–4x the lot value. The trade-off is time and some market risk, but for owners who can wait through the build cycle, the financial upside of a JV is often significantly greater than a sale.
Is your property a good JV candidate?
Not every property is right for a joint venture. Start with a conversation — we'll model the numbers and give you a clear picture of what a JV could look like for your specific property. No pressure, no obligation.