At SVN Lotus, we are more than just traditional brokerage service. We have a long history of providing Advisory Services to our clients. Serving the role as an Owner’s Representative helps not only to perform the due diligence on a project, but utilizes our resources, relationships, and expertise in the development cycle. The following outline provides an overview of our services (to discuss that line)
Level 1 Assessment
The first step in determining whether a property will work for acquisition or development is to go through the preliminary review of the asset. This includes a general review of the zoning & existing entitlement, availability of infrastructure, environmental, and basic financial review. This review can help avoid the significant time, energy, and expense in the contract process for a property that does not meet the needs of the Buyer.
Market Analysis & Underwriting
When the Level 1 Assessment indicates that an identified property may work for development, it is essential to commence a comprehensive due diligence analysis. This process includes the market analysis for both land acquisition and end user demand. It also encompasses more detailed financial underwriting. A full review of on and off-site conditions are a vital part of this process. These conditions can dramatically the development costs and thus value. Finally, assembling the right consultant team is probably the most important step in the development process. Our advisory service includes the introduction and coordination of these professionals.
Permitting is also a process that also requires assistance from the entire development team. Within the site planning process, there are inevitably issues that are going to arise. The identification, review, and solving of these items are vital to obtaining an approved plan. Like other scopes of the development cycle, this process requires expertise and coordination.
Zoning & Entitlement
Having the ability to develop a project ‘by right’ can be a process that has multiple layers. Whether the project needs comprehensive land use change and/or zoning approvals, it involves a path at the municipal level. Applying for and obtaining a fully entitled project generally includes one or more additional permits from other governing bodies. Understanding and confirming the entire entitlement process can affect the cost and more importantly the timing of the desired approvals. Having a representative to assist and monitor this portion of a project can help save time and contribute to a successful approval.
Aside from the entitlement and permitting process, the development aspect plays an important role in the financial success of a project. SVN Lotus provides a myriad of development services for its clients that include budgeting, bidding, financial reporting, and project management. Serving this role in the development process aims at assisting the client in its financial and operational needs.