Stage 5: Build the Project
Goal of this Stage:
This is an exciting stage of the housing development journey, as project construction finally begins and you see the results of your previous work. During this stage, regular construction administration will be coordinated by your project team, including testing and inspections, managing project documentation, regular site meetings, progress billings, schedule updates, and addressing deficiencies, among other activities. You will need to ensure you have a solid process in place for dealing with unanticipated challenges and changes as they arise in order to minimize impact on the construction schedule.
You should also begin marketing and rent up activities, so that you are ready to welcome new residents into building units once an occupancy permit is granted.
Key Questions to Answer:
Is construction moving forward as planned?
Are there any changes to the project scope, schedule and budget as construction progresses?
How are the monthly construction bills going to be paid??
When is the building going to be ready for occupancy?
Is marketing required for your project, and if so, how will you market it?
How will tenants be identified and secured?
What Needs to be Done:
Construction administration
Coordinate funding and financing draws
Complete construction and obtain a municipal occupancy permit
Market the project and begin lease-up preparations
Work with the project team to address deficiencies
For more detail on each of these steps, download the Building with Mission Playbook.
