We provide our development services on either
an individual or an integrated package basis.
Initial development assessment
Some of our recent development projects
include:
Our experience as developers, combined with
detailed market knowledge from our real estate services group, allows
us to assess the potential, risks, and strategies for any type of commercial
real estate development. We offer pre-development consulting to our premier
clients which allows our clients to assess the feasibility of a project.
• Brian Jessel Auto Group
• West 6th Townhouse Development • BC Housing PICS Phase I • BC Housing
PICS Phase II • Jana & Company • Meadowridge Shopping
Centre • Ontario Street Warehouse Project
$11 m
$18 m
$10 m
$10 m
$2 m
$1.5 m
$2 m
Pre-development services
We work to determine the feasibility of a project
from the relevant zoning, municipal issues, building analysis, market risk,
financing issues, etc. We determine the form and scope of a project, its
estimated costs and its potential to produce an economic return.
Site acquisition/assembly
We assist and advise on the development
potential of a site, ensuring through due diligence that environmental,
geotechnical and municipal requirements are taken into account..
Municipal rezoning negotiation and permitting
Well-established relationships with both municipal staff
and elected officials in the markets we serve enable us to quickly and effectively
understand potential zoning and permitting issues. We undertake rezoning
and permitting processes in house to achieve the best economic results for
a project.
A full understanding of project components, as well
as their effect upon each other, is necessary to comprehend cost implications,
revenue implications and overall feasibility results. Economic proformas
are produced at an early stage and are continually updated. This enables
decisions to be made early in the project.
Development design coordination
We retain design professionals who bring a top calibre
of expertise to the design process, we manage this process to ensure the
development has architectural appeal and is functionally designed to attract
tenants or investors.
The selection of consultants with a proven
track record, with experience of the type of development at hand, and
who can work effectively together, is critical to the success of the project.
Our experience in managing development projects from start to finish is
one of our greatest strengths.
Environmental evaluation and coordination
Prior to final site acquisition, and at all points in
the process, environmental issues and risks must be assessed and managed.
We retain skilled professionals and overlay our own experience to ensure
codes are observed and that risks are identified and managed. We have
specifically developed environmental policies governing our actions as
developers.
Construction is often the single largest cost of development,
and managing this activity is one of the most challenging and potentially
risky activities. Our construction manager is a key part of the process,
ensuring that the design team produces complete and value engineered drawings
for tender and pricing. Construction contracts are negotiated with the
general contractor appropriate to the project. The construction manager
monitors progress, quality control, resolves issues, discusses and approves
change orders and keeps costs in line with projections.
Accounting and reporting of project costs
Spectra software keeps track of project costs and integrates
overall results into the financial reporting for the development. Specifically
assigned and experienced accounting personnel work hand in hand with our
developers to track and report costs.
Leasing services
During the development, we work either with our in-house
leasing specialists or, where necessary, with external leasing teams.
We are involved in creating the right marketing approach and managing
the leasing process to ensure the revenue projections are met.
Management of legal requirements
We work with appropriate legal counsel at all stages
to ensure the documents forming part of each development are properly
drawn, executed and enforced as necessary.
