Real Estate Development
Real Estate Development
Methods & Goals
When there is a financial advantage to delivering an assett from the gound up, we develop. We constantly analyze opportunities for development and select those that provide compeitive advantages in the market place.
The Details
Crystal Peaks is proficient in all phases of real estate development for multifamily, condominiums, and ministorage projects. We constantly seek and analyze opportunities that make sense as good investments. We do not consider ourselves merchant builders, our goal is to build to hold for the long-term, but if there is a select opportunity that allows for a profitable build then sell scenario, we will do it, but only on a on a case by case basis. We like to develop when it makes sense, it is in our culture. But do not develop just to do it. This is an important distinction, as most development company’s development is their only focus. Crystal Peaks is in existence to provide risk adjusted returns to its investors. When we develop we have a disciplined approach of rigorous analysis; always keeping abreast of product demand, construction costs and its trends, building commodity trends, population growth, employment trends, competition analysis, underserved markets, and over built markets. We use a predevelopment, development, construction, and post construction methods that provides for highly organized and efficient management techniques to mitigate the development risk as much as possible. We have thorough legal contracts, up to date technology for efficient information flow that allows for expedited decision making, and top notch consultants, engineers, and architects with experience in the relevant product type and market. We are sustainable. We always seek to improve our sustainable practices.
Crystal Peaks is politically active, we do this to assist managed growth for the communities we invest in, and we seek to enhance our relationships with government jurisdictions whenever the opportunity arises. We enjoy this aspect of development, and see this as one way to give back to the communities we are a part of, this is the important to us and part of our culture.
Pre-Development of a Project
The pre-development phase in our view is critical. Often our competitors casually migrate through this phase with not enough thought. This is where the opportunity is conceptualized which lays the foundation of the development. We always first analyze the overall market of the opportunity, then if that passes the this test we research the appropriate zoning and come up with a building. We build an experienced team of architects, engineers, land use counsel, permit facilitators, and other consultants with at least 10 years experience in their field. We then incrementally refine the asset to maximize its value always balancing the financial analysis with the design, unit mix, customer demands, zoning restrictions, and how the elements all work together to optimize the value. We readily engage with the community, and obtain local jurisdiction approvals/entitlements. We engage the contractor early in the process to ascertain the cost of the building and adjust for any inflation pressures. The value engineering process begins very early stages of the Pre-Development to make sure the building is not only ascetically attractive, but is efficient to build keeping costs and schedule in control.
Construction of a Project
Construction is all about execution, communication, and management of a onetime complex production project. So being able to quickly assess and work through construction methods, challenges, and jurisdictional requirements is paramount. Crystal Peaks starts laying the ground work early during predevelopment, so once construction starts we can execute as efficiently as possible, and have communications, authority levels, the appropriate personnel and consultants ready to go to cover all contingencies needed. Crystal Peaks provides the leadership to guide this complex process to a successful finish. We provide the following:
· Thorough contract generation with detailed risk and responsibility allocation
· Financial Controls/Auditing/Accounting
· Construction Schedule Management
· Site Visits
· Construction Management
· Quality Control
· Project logistics
Project Closeout
This important phase of the development process ensures a quality product is delivered to the customers as efficiently as possible. Crystal Peaks ensures that the construction is completed timely, the punchlist is managed and fixes are followed up on, and that logistics are set up to turn over the project as efficiently and safely as possible. We also closeout the contracts with the contractors, the consultants and work with the insurance company transition.
We Love to Develop