REDEVELOPMENT / REVITALIZATION / CONDO CONVERSION
From single-family fix & flips to shopping center de-malling and lots of projects in between, Concordia Realty has implemented hundreds of projects that have increased revenues, added curb appeal and revitalized communities.
Concordia Realty has turned many underperforming shopping centers into profit centers, in addition to taking apartment buildings and converting them to highly profitable sold out condominium projects.
We have also completed adaptive reuse projects, converting commercial properties to residential. From smaller scale condominium conversions to subdividing a retail property and selling off portions to national apartment developers such as Wood Partners and Lincoln Properties.
Concordia Realty has performed teardowns and then completed build-to-suits for net-lease single-tenant investments.
With redevelopment you can capitalize on a property’s location to create a new product. In other situations we have implemented upgrades as tenants roll over, so you can increasing rents as new tenants enjoy the benefits of remodeled units.
Concordia Realty is well positioned to maximize the value of Mixed Use Properties because of our familiarity with retail real estate, multifamily and office properties.
Concordia Realty Corporation then actively researches each area’s demographics to determine the correct design for the most profitable tenants.
With a strong practical knowledge of the retail and residential real estate shopping center business, we provide the full range of services needed to turn stale properties into vibrant active community centers.
Revitalization and/or redevelopment enhances your property’s marketability and rental rates.
The competition to retain current tenants and attract new tenants is fierce. Existing properties may suffer from obsolete design, physical neglect, inappropriate tenant mix, changing markets, or new competition.
You can choose from a range of Development / Redevelopment / Construction Project services specifically tailored to your particular needs.
Redevelopment – Development – Construction Project Coordination Services
- Design Consulting
- Construction Process Coordination
- Perform Financial Modeling for Development or Redevelopment Project
- Complete Financial Analysis for Condominium Conversion Projects
- Hire Architectural Specialist for Construction Project
- Value Engineering Architectural Concept with Capital Constraints / Project Profitability
- Review Code Compliance and Interface with Municipal Authorities with Architect
- Review Energy Code Compliance
- Coordinate Architect, General Contractor, and where necessary Civil Engineer, other consultants
- Civil Engineer
- Hire and Coordinate Civil Engineer
- Water Detention – Water Retention Issues
- Parking Lot Layout and Maximization
- Traffic Flow Design and Car Stacking Issues
- Pavement Selection
- Landscape Architect: Coordinate Landscape Design Balancing Beautification, Code Compliance, On-going Maintenance and Budgetary Issues
- Geological Engineer Coordinate Soils Testing, Rock Blasting, Stabilization, etc. if necessary
- Materials Testing: Hire and Coordinate Testing Service for Concrete Pours, Steel, Welds, etc.
- Americans with Disabilities Act (ADA) Accessible Design Review
- Development Contract Digitization and Record Keeping
- Construction Contract Digitization and Record Keeping
- Collect Contractor and Subcontractor Insurance Certificates – Confirm Proper Additional Insureds: Owner/Lender/Developer/Property Manager
- Collect Evidence of Up-To-Date Contractor and Subcontractor Workers Compensation Policies
- Title Company Construction Escrow Set-Up and Agreements
- Building Permit Fee Applications and Payments
- Process Tap Fees
- Utility Account Applications and Set-Up
- Process Contractor Progress Payment Applications
- Escrow Agreements:Interface with Title Company, Contractors, Subcontractors, Municipal Inspections and Lender
- Owner/Property Management Disbursement
- Compile Contractor Payment Application Information
- Review Percentage Completion Billing with Architect/Owner/Property Manager/Construction Manager
- Review Contractors Profit, Overhead, Markup and General Conditions Charges
- Review Partial Lien Waiver and Final Lien Waivers – General Contractor, Subcontractors and all Suppliers
- Punch List Completion Monitoring
- Occupancy Permit Applications
- Close-Out Documentation Digitization and Storage
- Warranty / Guarantee Tracking for Defective Workmanship and Materials
- Construction Plan Organization, Storage, Digitization, CAD File Conversion
- Real-Time Client Access to Reports, Expenses, Payment Status, Title Account and Bank Statements all Ensure Client Controls
- Building Safety and Security
- Building Energy Usage Reduction – Energy Savings Retrofits
- Wind Turbine/Solar Energy Projects
- Tenant Shell Delivery
- White Box Build-Out
- Tenant Improvement Build-Out
- Tenant Build-To-Suit
- Tenant Plan Review and Comment
- Tenant Sign Review
- Sign Criteria Promulgation and Enforcement
- Tenant Contractor Coordination
- Tenant Utilities – Delivery, Sub-Metering, Turnover
- Tenant Turnover Documentation – Punch List Coordination
Multifamily Renovation – Condominium Conversion
- Pre-Purchase Inspections and Renovation Cost Estimating
- Code Compliance/Violation Reviews
- Perform Financial Modeling for Multifamily Acquisition
- Perform Financial Modeling for Multifamily Renovation
- Feasibility Analysis for Rehab of Units and Common Areas as Tenants Turnover
- Feasibility Analysis for Vacate and Gut Rehab of Units and Common Areas
- Amenity Selection for Expenditure Minimization and Revenue Maximization – Bang for Your Buck
- Perform Financial Modeling for Condominium Conversion
- Condominium Sales and Marketing Campaign
- Code Compliance Review
- Perform Condo Unit Base Model Finish Selections and Delivery
- Coordinate Condo Unit Upgrades and Delivery