It's semantics, of course. Choosing 'developer or 'owner' to describe a relationship to a property is a matter of what you want to convey.
"Developer" indicates an intent to improve or convert a property, and the means to achieve the goal; 'developers' may be persuaded to integrate a change in the property so it blends well with a community.
Conversely, "owner" would not indicate any particular activity intended for a property, and it may convey an inability on the part of others to compel or persuade the 'owner' to any specific end result.
Also, a designation of 'developer' may indicate a short-term ownership status, or not, while an 'owner' carries no implicit obligation to sell, improve, or do any particular thing with a property. However, zoning laws may require a specific use for a property, such as commercial or residential. Any property owner would have to comply with the zoning use, including developing (themselves or through a separate development entity) the property for the required use.
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