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CONSTRUCTION MANAGEMENT CONSULTING *  EXECUTIVE PROJECT OVERSIGHT

for COMMERCIAL - INDUSTRIAL - MANUFACTURING CONSTRUCTION INDUSTRIES

Owner's Representation Services

The Development Process:  Concept to Turn-Key

 

CMI serves its Developer/Owners from the beginning - from their concept to turn-key. Projects begin with a vision; an idea coupled with the skills, desires, and resources necessary to bring the vision to fruition. The process of development is long and complex, and although it is hard to do the process justice in a single checklist format, the following provides an excellent albeit brief outline of the development process.

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The Concept: Product identification and establishment of development criteria

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Identify all sources of seed capital

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Assemble Internal Team: Site Acquisition, financial analysis, marketing, negotiations.

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Market Area Identification

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Location Possibilities

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Feasibility Studies

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Market Analysis & Study

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Site Analysis: Preliminary environmental study, suitability for desired purpose; identify potential obstacles/opposition

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Preliminary Pro Forma: use of market knowledge to estimate cost, potential income and expenses, possible operating profit and project final sales value; estimating value added by development process; ascertaining available financing

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Risk/Reward Analysis

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Land Acquisition: optioning the land, securing control

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Obtain Environmental Phase 1 Report, Soil Borings Analysis On-Site

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Preliminary Contacts with Possible Debt and Equity Sources

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Assemble External Team: Architect, engineer, land planner, landscape architect, surveyor, legal; lining up possible general contractors; signing contracts with major professionals; detailing levels of responsibility; clarifying areas of involvement

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Design Process: Site, structures, and specifications

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Begin Formulating Marketing/Leasing Plan

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Prequalify, evaluate and select Property Management Team, Sign Contingent Contract

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Estimating and Preliminary Bidding Process; Ongoing interaction with potential Construction Managers or Contractors re cost estimates, design suggestions, value analysis, and specifications

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Regulatory Approval Process: Zoning vs. site plan approval

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Obtain Final Construction Documents and Site Plans

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Release Final Construction Documents to CM & GC Potentials

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Raise Equity Capital, Finalize Deal Structure and Form of Ownership Entity

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Debt Capital; Construction Loan: Send out project loan packages, receive terms sheets, submit loan application, expedite required third-party reports, obtain commitment letter.

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Receive preliminary bids, Value Engineering, and Final Bids

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Negotiate CM/GC Contract and Establish Construction Schedule

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Conduct Risk/Reward - BE Analysis: Review Pro Forma and assumptions therein, assess available debt and equity capital; CM/GC Contract; Make go/no go decision

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Sign - Execute Construction Contract

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Obtain Building Permit

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Close on Land Option, Close Construction Loan, File Notice of Commencement, Give Notice to Proceed to CM/GC

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Ground Breaking

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Begin Oversight of Construction Process, Exercise Quality Control

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Manage Marketing/Leasing Program, Fine-Tune Interior Design Issues

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Field Visits and Progress Reports, Approve Construction Drawings and Change Orders

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Punch Lists Management and Close Out

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Certificate of Occupancy

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Substantial Completion

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As-Built Survey

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Lease Up

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Occupancy/Grand Opening

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Stabilization

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Convert Construction Loan to Short-Term Permanent Loan

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Depending on Exit Strategy (Flip vs. Hold), either

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Begin or Intensify Marketing for Sale, or

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Circulate Updated Permanent Loan Packages

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Start or Intensify Search for New Development Opportunity

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