![]() Managing all of the moving parts in the real estate development process is no simple task. Scaling the Real Estate Development Process Regardless, the goal during the operations phase is to generate revenue based on your investment strategy. For others with different strategies, it might instead mean leasing the property to tenants, then selling it to a buyer. ![]() For some developers, this might mean leasing it to tenants, then holding, while generating revenue. Now that the construction phase of the real estate development process is complete, the final step is monetizing the property. ![]() When this information is fragmented across systems, it can be challenging to easily identify which tasks have been completed, and which remain. To prevent costly delays or a disorganized approach, development teams might track the many steps involved to reach this milestone in a spreadsheet. The final step in the construction process is obtaining the certificate of occupancy, which municipalities grant, provided that the building is in compliance with all regulations. Concurrently, developers begin marketing the building to potential tenants, ideally striking a pre-lease agreement. During this phase, development teams must work with a construction company to diligently track the progress of each phase. With all relevant permits in hand, the next stage in the real estate development process is construction. Obtaining land use approval and building approval permitsĪfter obtaining the building permit, the project is normally ready to move into the next phase: construction.Acquiring the property, including land purchase execution and due diligence procedures.Conducting surveys and obtaining environmental reports.Analyzing a property and its market to determine the highest and best use.These are some of the steps that may be involved in the pre-development stage: Typically, this process involves significant communication with third parties, which makes tracking activities even more important. Pre-development is the first stage of real estate development, in which teams complete analytical and administrative work required to initiate building. Pre-Development: Acquiring the Property, Planning the Project & Administrative Work Build-to-suit projects with designated, lease-ready tenants are more straightforward and incur lower risk. Some firms may break these stages into different phases, or use different terminology to classify them. More complex projects may have other stages related to specific considerations developers must make based on their goals, location and other variables. The 3 Stages in the Real Estate Development Processįor simplicity’s sake, there are three main stages in the real estate development process: pre-development, construction, and operation. Why Developers Rely on Dealpath to Scale the Real Estate Development Process.Simplify Collaboration with External Partners Work from Standardized Commercial Real Estate Development Process Checklists ![]()
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