Close Menu
  • Business
  • Home Improvement
  • Internet
  • Finance and Law
  • Education
  • Web Stories
What's Hot

In-Depth Summary: Millionaire Milestones – Simple Steps to Seven Figures

May 10, 2025

The Most Loved and Most Critiqued Athlete Outfits from the 2025 Met Gala

May 10, 2025

New Study Reveals The States Most in Need of a Summer Vacation!

Apr 13, 2025
Facebook X (Twitter) Instagram
Saturday, May 31
  • About
  • Write For Us
Facebook X (Twitter)
TurtleVerse
  • Business
  • Home Improvement
  • Internet
  • Finance and Law
  • Education
  • Web Stories
TurtleVerse
Home » Business » Demystifying the Real Estate Development Process
Business

Demystifying the Real Estate Development Process

By Editorial StaffJan 31, 2024Updated:Mar 10, 20244 Mins Read0 Views
Share
Facebook Twitter LinkedIn Pinterest Email

A development project is a multi-step, complex, risky, and time-intensive process. However, it can deliver fresh new supply and satisfy pent-up market demand if done well.

Whether you’re a growing business considering construction or an investor weighing an opportunity, understanding the real estate development process is critical to success. This comprehensive guide will walk you through the different stages of development – from pre-development to operations.

Pre-Construction

Real estate development is a complex process that takes years to complete. It requires a team of experts in the field, including attorneys, engineers, land planners, surveyors, architects, and construction contractors, to complete the job.

The pre-construction phase of the real estate development process is the next step after the pre-development and permitting phases. It includes everything that needs to be done before breaking ground on the project. This includes navigating land entitlement steps such as environmental assessments and engineering reports to ensure the raw land is ready for building. It also includes preparing detailed architectural and engineering designs that comply with city development plans.

After the plans have been approved, it’s time for land clearing and site preparation, including roadwork, grading, utility installations, and building pad construction. The team also enlists a general contractor to interpret the architect’s design intent and devise an attack plan for building that refined concept on the ground. The entire project team needs to communicate with each other and coordinate with other stakeholders to ensure that everything is completed on schedule and within budget.

This is often the most expensive phase in a project because it involves bringing all of the necessary resources to bear. It can take 6-12 months to finish this stage. Teams must stay on track throughout this phase because a delay here can cause the whole project to be put on hold until the problem is solved.

With a connected preconstruction process, Your Home Wichita development teams can collaborate more efficiently and find savings by leveraging shared workflows. This allows them to understand each other’s needs better, ensure they meet milestones on time and fully comply with regulatory requirements. It can also improve transparency and accountability to reduce the likelihood of costly mistakes or rework later in the build.

Pre-Development

The pre-development phase is where the real estate development process gets its start. This includes research, planning, and project due diligence. The results of the pre-development stage can set a property up for success or failure right from the beginning. Investing enough time and energy into this stage can help mitigate future problems like cost overruns, schedule delays, and regulatory issues.

The next step is securing the land entitlements necessary to begin construction, which can be long and involved. The specific steps required and levels of government involvement may differ depending on the type of development. For example, a redevelopment project that involves utility and landscape approvals will likely have a longer timeline than new construction on vacant land.

During this stage, development teams must also make the final decisions regarding capital stack and lock in the debt or equity financing needed to fund the construction phase. This is also the time to begin marketing the building to potential tenants, ideally securing a pre-lease agreement. Once the final construction plans are approved, a building permit allows the construction to commence.

When construction is underway, the development team must diligently track and manage progress and work closely with a general contractor to ensure all tasks are completed on schedule. This is where having a robust real estate development software solution can come in handy. Leading development teams use this technology to streamline day-to-day work, maintain build visibility, and meet critical project milestones.

The development process can be a long and complex undertaking with varying degrees of risk. Regardless of the type of project, mistakes made in this phase can be costly and delay or even derail it altogether. Having a clear and sequential process for managing each stage of development and establishing effective risk mitigation measures is critical to real estate developers, especially when they are borrowing money or responsible for managing the interests of 3rd party stakeholders.

You May Like

  • The Greatest House Improvements for Senior Citizens
  • Business Leadership: Improving Diversity in the Tech Sector
  • 5 Ways To Enhance Your Gym Members’ Cycling Experience
  • Experts Suggest 11 Viral Cleaning Tips You Should Never Try
  • 4 Common Functional Complications in Your Kitchen
  • Tips for the Best Wildlife Viewing Experience in Colorado
real estate
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleJimmy Johnson’s Induction Highlights Cowboys’ Ring of Honor Greats
Next Article Easy DIY Projects to Improve Your Home’s Curb Appeal Before Welcoming Holiday Guests

Related Posts

In-Depth Summary: Millionaire Milestones – Simple Steps to Seven Figures

May 10, 2025

How To Avoid Contamination in Welding Processes

Mar 27, 2025

How To Increase Sales at Your Farmers Market Booth

Mar 17, 2025

Why Businesses Should Consider Hybrid Workplaces

Mar 10, 2025

5 Things Facility Managers Should Know About Lighting

Mar 10, 2025

What To Know Before Shipping Food Overseas

Jan 27, 2025
Leave A Reply Cancel Reply

Top Posts

6 Simple Tips to Fix Slow Printing Speed of a Printer

Mar 11, 20221,393 Views

Shielded Vs Unshielded Cat 6 Cables

Mar 11, 2022368 Views

NW.JS vs. Electron: What are the differences between the two?

May 2, 2022297 Views
Don't Miss

In-Depth Summary: Millionaire Milestones – Simple Steps to Seven Figures

May 10, 2025

Millionaire Milestones is a practical, step-by-step guide to building wealth systematically, breaking down the journey…

The Most Loved and Most Critiqued Athlete Outfits from the 2025 Met Gala

May 10, 2025

New Study Reveals The States Most in Need of a Summer Vacation!

Apr 13, 2025

How To Market Your Apartment Amenities to Tenants

Apr 13, 2025

TurtleVerse

TurtleVerse covers tips, how-to guides and reviews on Business, Lifestyle, Technology, Travel, Internet, Digital Marketing, Gadgets and Applications.

Most Popular

6 Simple Tips to Fix Slow Printing Speed of a Printer

Mar 11, 20221,393 Views

Shielded Vs Unshielded Cat 6 Cables

Mar 11, 2022368 Views

NW.JS vs. Electron: What are the differences between the two?

May 2, 2022297 Views
Our Picks

In-Depth Summary: Millionaire Milestones – Simple Steps to Seven Figures

May 10, 2025

The Most Loved and Most Critiqued Athlete Outfits from the 2025 Met Gala

May 10, 2025

New Study Reveals The States Most in Need of a Summer Vacation!

Apr 13, 2025
© 2025 Turtleverse
  • Write For Us
  • About
  • Privacy Policy
  • Disclaimer
  • Web Stories
  • Home
  • hd wallpapers

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.