Development
Our Experience Shines
We have talked to countless people that are interested in building an RV park but have no idea where to begin or if the economics even make sense. We have also seen many of these developments fail or falter due to this lack of knowledge, which oftentimes results in less than ideal designs and/or cost overruns. We learned a long time ago that “we don’t know what we don’t know.” Just as hiring the right engineer or architect is critical to a development, having an experienced consultant on your team to guide you every step of the way is just as, if not more important. Unlike some of the so-called “expert” consultants who have little or no development or ownership experience of their own, our team has been developing award winning and profitable real estate properties since the 1980’s. Our experience goes beyond RV parks to multifamily residential and senior living and includes complicated developments such as high-rise buildings. Our relationships extend to regional and national banks, institutional and private investors, and a breadth of consultants including MEP engineers, structural engineers, architects, landscape architects, interior designers and more. We will leverage our knowledge and relationships to assist you in analyzing the feasibility of your project and taking it from concept to reality. The tasks involved in this include the following:
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- Review owner’s strategic plan, objectives, operational details and A&E plans (if available), and advise owner according to our experience and market trends.
- Conduct current shops of relevant competitors in market areas to gather specific understanding of rates and concessions, services, quality, property aesthetics and amenities, etc.
- Collaborate with owner with setting rates for the community, including ancillary charges.
- Develop and review with owner detailed development pro-forma inclusive of development costs, FF&E costs, construction costs, fill-up projections, revenues, operating expenses, debt service coverage ratios, and other key metrics.
- Assist owner with providing necessary information to banks and investors regarding operating pro-forma assumptions and relevant development budget assumptions.
- Assist owner with soliciting proposals and assembling team of consultants, including architect, civil engineer, structural engineer, permit expeditor and any other necessary practices.
- Review designs, provide input and make recommendations to the A&E plans, including pad layouts and sizing, street widths, landscaping, common areas, ingress and egress and more.
- Attend regularly scheduled finance and development related calls or meetings.
- Assist owner in soliciting general contractor bids. Make recommendations to owner on attorneys to draft and/or negotiate construction contracts.