Reddit reviews Professional Real Estate Development: The ULI Guide to the Business, 3rd Edition

OK... not being rude but developing 100 units is a serious undertaking and requires far more expertise than anyone can give in a Reddit post.

There are many risks and complexities around market research, land acquisition, financing, construction and maintenance/disposal. You have to deal and negotiate with many public and private entities, all with their own agendas. It's not for the inexperienced or amateur investor, unless you have several million dollars to blow on a vague venture.

If you are really serious about learning development, here are a couple of good books:

• Real Estate Development: Principles and Process
  
• Professional Real Estate Development: The ULI Guide to the Business
  

CRE is so nuanced and niche that there really are very few "norms" mostly needs to be learned via experience/apprenticeship. I would however recommend these books if you don't have access to the aforementioned:

http://www.amazon.com/Commercial-Estate-Analysis-Investments-CDROM/dp/1133108822/ref=sr_1_3?ie=UTF8&qid=1375917474&sr=8-3&keywords=Commercial+Real+Estate+Analysis+and+Investments

http://www.amazon.com/Professional-Real-Estate-Development-Business/dp/0874201632/ref=sr_1_1?ie=UTF8&qid=1375917559&sr=8-1&keywords=Professional+Real+Estate+Development+peiser

http://www.buildingbok.com/

This project has come to fruition.

I can't find the original story, but if I recall correctly - it started as a website and rooftop bar pop-up, gaining traction through instagram.

I believe the person responsible did have some experience in real estate on the architecture and planning end, and more importantly held the option on the building.

If you can control the land, you can run around and "develop" your concept the best way you know how, at the cost of your time and money. Eventually, you will need partners.

At the very least, read this and you can come to your own conclusions about your best path forward:
https://www.amazon.com/Professional-Real-Estate-Development-Business/dp/0874201632

Good luck!