Real estate development involves participation from a wide variety of professionals, including: architects, landscape architects, civil engineers, site planners, attorneys, environmental consultants, surveyors, title companies, lenders, architects, general contractors, and subcontractors, amongst a variety of others.
Using multiple sources of information, commercial real estate developers look at all available properties within a designated trade area that meet basic site requirements.
Site Investigation Reports are a collection of data/questions assessing the potential issues with the site, or what needs to be done in order to meet all requirements. The goal of this data is to place emphasis on potential problems that could occur if a project is pursued.
Before a project can commence, you must be granted permission from local regulatory agencies and the community. It is crucial to be prepared for this stage of the development process, as you may be asked many questions from city planners, local residents, and government leaders.
In the preparation for the commercial construction process, commercial developers will dive into handling construction bids. Based on the proposed scope of work, general contractors will prepare and submit estimate bids of the project cost and schedule for completion.
Through this process, developers are not only able to narrow down the search for general contractors, but also apply the estimates towards finalizing the budget