Best Practices for Constructing a Commercial Development Project around Pensacola
Now that the planning and design stages are over it is time for your vision to become a reality. Up to this point, the focus has been on fitting the vision to the economic model, your goals, and the site. From here on out, all of the hard work spent planning and anticipating problems will finally pay off.
It is for this reason that early investments in consultations and design are so important; without them, the entire construction stage hangs on a thread that is easily slashed by unforeseen regulations or miscommunications.
Communication is key through this stage. Between you and your development team, the design team, and the contractors, there is a lot of room for error, so having a focussed point of contact throughout this whole timeline will ensure a smooth process.
From planning to post-occupancy is our series for developers to learn strategies that will carry them through the four stages of a commercial development project: planning, design, construction, and closeout. If you are a developer on the North Gulf Coast, you may find the rest of our series of use as well.
Follow the shortcuts:
Product delivery management
The bulk of control over the product delivery and its management will be through your contractor. The contractor will run the site and its labor force, including its sub-contractors; they are skilled workers who know how to implement construction documents and manage their own. The contractor ought to be involved during the design phase so that they are able to make suggestions about the construction methods that they see as the best fit for the product.
A quick note about working with the contractor: open communication between yourself, your design team, and your contractor is crucial to a project. If there are aspects that are missed, such as a budget for materials that is not approved by the developer in time, then this runs the risk of pushing your project behind schedule.
Roadmap to development order management
Your roadmap to development order is an integrated plan showing the steps required before written permission is granted to continue construction. While promises may be made for the delivery of permits, it is important to add contingencies in this branch of scheduling - or run the risk of halting construction due to extended acquisition timeframes.
Written permission is crucial to this step; we have heard too many stories of developers misunderstanding permit acquisition timeframes, either due to unkept promises from officials or mix-ups in approval timeframes from county to county, so keeping these on track is crucial to the success of the project.
Start selling early
If you have all of your ducks in a row and construction is imminent, then it's time to start the project's cash-flow. Cash-flow is important for several reasons: it proves the feasibility of the project, it makes investor's happy, and it offers a final resort contingency to balance funds. Also, it's nice to see a plan come together.
Marketing and sales fees are often overlooked in the preliminary stages of planning, so be sure to tally all of your soft costs before beginning the construction process so that you can adequately sell you product.