How exactly are deals like this made?

[Tiara Murray]

I live in Detroit, and there is a lot of brownfield redevelopment going on. I was wondering how deals like this http://www.modeldmedia.com/developmentnews/watermark9307.aspx, and this http://www.naiop.org/developmentmag/features/indexkk.cfm made without the original developer giving up over half of their equity in the process. I always read about these big time developers who are unable to get financing, pulling together these big pool of investors. But what I dont understand is how it works. Do they retain ownership or is each investor now have an equity stake in the development? Can someone help me out with this?