A Business Plan for Your Building

Apr 3, 2024 | Blog, Featured

It takes more than good design to make a project successful.

Sure, we specialize in design, but we also offer our clients assistance in developing a tangible path forward for their development project. You probably fall into one of two categories: 1) you own a building and want to redevelop the property, or 2) you’re looking to purchase a building for redevelopment. In either scenario, the importance of having a plan for the building is paramount.

Our team works closely with owners and developers to clarify the realities of development and the many tools available to help.

Concept Development

Unsure of what to do with your building and how to make the most of it? Because we are also architects, we’re able to work with you on concept development and design and we understand exactly how it will affect your bottom line.

Financial Feasibility

We run a 20-year projection using market data, construction costs, and funding sources to help determine how the building will operate and earn a return on your investment. From experience, we know the hurdles that may be encountered during project start-up or five years down the road.

Historic Tax Credits (HTCs)

HTCs have been a critical tool for many historic buildings, bridging the gap to make the right projects financially feasible. We have expertise in this area for both the building design and the application process with dozens of successful examples. More information about Historic Tax Credit Consulting.

Navigating Incentives

Incentives for development exist in many forms, whether for affordable housing, job-creation, historic preservation, or new business start-ups. We can help you navigate the murky waters full of acronyms (LIHTC, SBA, CDBG, etc.) and outline how and where these incentives can match up with your business plan.

Grant Assistance

There are a variety of grants and other funding sources that may be applicable to your project. We’ll help you through the process, providing technical assistance and supporting materials to make the most compelling case possible.

Team-Building Assistance

A successful development is rooted in relationships: city officials, contractors, bankers, investors, lenders, tenants, and more. With over four decades of relationship-building in the development realm, we can assist you with vision-casting, negotiations, and setting up the project so that your team can work seamlessly together.

We can help you answer these important and common questions:

    1. How can the various funding sources work together?
    2. What programs does my city have and how does that affect my project?
    3. What are the typical lending trends for this type of project?
    4. How do I work with other investors to make a project happen?
    5. How do I monetize historic tax credits?
    6. Is there a financing gap for my project?
    7. What if my building doesn’t appraise out?
    8. I have never done this before – where do I start?

Do you have a business plan for your building?

We’re here to help provide a clear path forward, because there’s lots of work to get to the final product, and together we can get it done.

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Let’s Discuss Your Project!

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