Real Estate Development
Our team has the experience and capability to provide professional services in all areas of the development process. We understand that each investment property or development project is different and unique with some having special characteristics that may limit maximum functionality, such as setbacks and height restrictions. We can help properly utilize these potential challenges and guide you through the development approval process.
Eight Unit Town Home infill project.
82,000 feet of buildings with 407 total units.
Office/Retail space available for lease in South Jordan.
Office/Retail space available for lease in South Jordan.
23 single family custom homes with 14 fifty-five and older twin homes.
Keller Williams Brokerage Orem
Keller Williams Brokerage Daybreak
Development Services
- Confirm Market Conditions and Potential for Development
- Feasibility Analysis
- Strategic site selection and sourcing
- Prepare Development Concept Plans
- Entitlement preliminary analysis
- Review Current and Potential Zoning Conditions
- Obtain/Review Environmental Reports and Title Matters
- Determine Options for Profitable Development
- Financial pro forma with revenue & cost analysis
Development Stages
Developing any real estate project is a complex process which can be broken down into 3 typical stages: pre-development, construction, and project completion. Below you will see a brief description of each stage and some of the steps within each stage.
PRE-DEVELOPMENT CONSULTING
Market feasibility of a project must be well established in order to minimize risk, attract financing or secure investment capital. Proper project assessment including data collection and interpretation can often take the risk out of many real estate projects.
CONSTRUCTION
The middle stage involves construction and improvements. Since the pre-development tasks have been completed, the project risks at this stage are greatly reduced but certainly not eliminated.
Finally you get on site and start building your project, although this stage can last anywhere between six and twelve months, depending on the size of the project, it’s the most exciting aspect of the development as you see all of your hard work coming to fruition.
Some of the common steps in this stage include:
- Vertical construction
- Project marketing
- Draw review on construction financing
- Pre-Sales and/or Leasing
- Schedule Control
- Quality Control
- Project Accounting
- Contractor Payment auditing
- Arranging permanent financing (if not arranged during pre-development)
- Arranging for property manager (if not arranged during pre-development)
PROJECT COMPLETION
The final stage of the development process is project completion, and in other words, this is the first stage of the building’s life. While the pre-development and construction risks may be removed by this point, selling the property, or obtaining tenants is still a risk.
The occupancy permit generally marks the end of the construction phase and allows for the commencement of completion stage. As with the building permit, it is based upon objective criteria regarding construction quality and is a fairly administrative process.
Some activities during the final stage include:
- Ongoing marketing
- Finding a buyer, if not done earlier
- Determining a hold strategy, if not selling
- Ramping up property management
- Construction completion
- Document completion
- Title registration
- Closing of sales
- Move-in day
- Achieving stabilization
Acquisitions
Real Estate is one of the largest assets that someone either buys or sells. This can be a stressful process but our team is here to assist you along the way. With over 25 years of combined commercial real estate experience, The Boyd Brown Team consults with developers, users, investors and landowners across the Wasatch Front. They assist in the disposition of all types and classifications of property where the underlying value is the land. Our Land Acquisition team can help you and your partners achieve maximum value through representation and involvement in all facets of the transaction.
If you are considering selling your property, we would be happy to discuss your options.
