Construction Development Process Insights

 

 

 

The Process

Commercial real estate development is the process of taking land and conceptualizing, designing, and constructing the buildings that we live and work in. From apartments to business offices, a well managed and successful development process is vital for not only our daily lives but our economy too. This process can be broken down into three main phases, with each phase including many steps.

Site Selection and Assessment

The first step to commercial real estate takes a tremendous amount of research and analysis. Whether you’ve already picked your site or are looking to get help finding the perfect spot, there are many factors to carefully consider, including property size, zoning, visibility, traffic flow, demographics, surrounding infrastructure, accessibility, nearby competition, and more.

Once the location has been selected, this first stage of commercial real estate development breaks down into:

  • Due Diligence & Research
  • Site Investigation Reports & Feasibility Study
  • Municipality and Lender Required Reports
  • Preliminary Budget Establishment
  • Contracts

Development and Entitlement

Once an idea has been turned into a well-analyzed site with all risks carefully considered, it’s time to step into development. This stage includes varying skills and expertise, including that of civil engineers, architects, and consultants. It breaks down into:

  • Community Outreach
  • Municipality Submittal and Review
    1. Zoning, Site Plan, Design
  • Entitlement and Permit Process
  • Pre-Construction Planning
  • Construction Drawings/Plan Submittal
  • Budget Finalization

Construction

Once plans have been approved and permits have been received, it’s time to start building. In this stage, your big plans finally begin to take shape. The construction stage breaks down into:

  • Construction Coordination & Management
  • Survey Staking
  • Grading & Earthwork
  • Foundation & Pad Development
  • Building Construction
  • Interior Work
  • Inspections

Ready to Start Building?

A lot goes into the commercial real estate development process, but if implemented effectively, the end result is a lucrative, valuable, and beneficial commercial real estate property. To watch your development ideas turn into the real thing with the right capital providers, contact SMG Capital for your next project..

SMG Capital's team of industry savvy professionals are  just a phone call away. Call us today at (202) 240-1502.

 

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