The monograph defines a system of requirements for the implementation of complex residential development in cities. The relationship between the concepts of investment, capital investment, and the estimated cost of construction is considered. The definitions and content of the concepts are given: investment project, investment activity and investment policy in the non-production sphere. The methodological provisions for the formation of the estimated cost and assessment of the effectiveness of investment projects for non-production construction are outlined. The methodological provisions are applied to determine the cost and efficiency indicators of the construction of a residential area when implemented in St. Petersburg strategic Russian-Chinese investment project “Baltic Pearl”.