Course 9

What To Look For In A Development Partner

Kellena Kane

By: Kellena Kane

Senior Development Manager

Holding your ribbon cutting ceremony will be the culmination of a major endeavor. However, getting there is a sophisticated and complex process with many risks. A strong development partner will get you to the grand opening on-time and on budget.  The key is to work with an organization you can trust to put your interests first; one that will be around long after the celebration ends.

So, what does your organization need for a development project?

  1. Local Expertise

    You need a partner who understands the local market. One that can help you examine a number of sites, perform the necessary research, and understands the local market. The developer should be able to learn and understand your business needs and translate them into a real estate solution.

  2. Funding Opportunities

    Commercial real estate development is a capital-intensive process. A developer with established lending relationships will secure funding with ease. They also should be able to identify eligible public-private partnerships, grants, and economic incentives to offset the project cost.

  3. Public Sector Outreach

    Real estate development requires significant legal and governmental diligence. Your project will require working with municipal, state or federal agencies. The ability to secure local zoning and building approvals, as well as positive community involvement, is critical to getting a shovel in the ground according to schedule.

  4. Broad Resources

    Development involves multiple co-creators including architects, engineers, construction managers and tradespeople to design and execute a project that meets your vision. A company with an in-house team and a network of partners will unite for your project. This type of collaboration leverages best practices and value engineering to unlock ways to optimize the project.

  5. On-time Delivery

    You likely have a move-in date in mind for your new space. You need a developer who will have the building ready for that critical deadline. A partner with in-house construction capabilities and experience building in a variety of environments––from complex projects in dense, urban areas to the scalable suburbs–can help you get the project started and delivered on-time.

  6. Operational Support

    Risks don’t end when the ribbon has been cut. A developer that also offers property and asset management services can control the cost, liability and requirements of operating a building for the long-term. They bring their knowledge, best practices, and preferred vendors to optimize your facility for years to come.

    Creating the right building, facility or complex for your organization is a major undertaking. However, by working with a partner that will put your interests first, you can get to the grand opening of your prized new location.

    As Western New York’s leading developer, Uniland delivers great results for our clients, which range from small businesses to Fortune 100 firms. Call Uniland today at 716.834.5000 to discuss how we can help.

 

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