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UNDERWRITING

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Development projects typically start with an owner’s vision, an architect’s concept sketch and a modest budget. Therefore, we prefer to start working with your team as early in the process as possible when underwriting a potential acquisition with the following scope of services:

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  • Site assessment

  • Project feasibility

  • Budget creation

  • Phased schedule building

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ENTITLEMENTS

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Unless an owner’s property or potential acquisition is already entitled or the intent is to build “by-right”, an entitlement process must be completed to obtain greater density, a general land use plan amendment or an alternative zoning designation.  Assisting in this phase of work focuses on building a great team of specialty consultants, master planning the project design, working with the local jurisdiction, building officials and public utilities, as well as engaging the local neighborhood.

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PRE–CONSTRUCTION

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We can guide your project through all pre-construction activities and soft cost line items.  Following entitlements or starting with an approved project, we assist owners expand the professional team necessary to fully design, engineer, document and permit the project.  Various tasks may include:

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  • Review project schedule and soft cost budget

  • Assist with all professional service contract negotiations

  • Evaluate plans and potential value engineering options

  • Oversee design, engineering and consultant team through Contract Documents

  • Guide building permit processing

CONSTRUCTION

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A majority of a development proforma costs relate to construction so being on budget at this phase of the project is critical.  Construction costs are always fluctuating, so locking in a total contract price and buying out the job as soon as possible is always the goal.  DevelUp can help owners:

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  • Prepare project scope & RFP

  • Obtain and analyze GC bids

  • Negotiate AIA contract – either lump sum or GMP, which is most popular

  • Oversee construction process

  • Complete general site visits and attend OAC meetings

  • Review and approve monthly draws

  • Evaluate and approve potential change orders

  • Orchestrate project completion, punch out & close-out documentation

  • Communicate with lender inspectors, as necessary

  • Monitor schedule and project budget

  • Negotiate final payments & retainage release as required

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