Services & Products
We provide our development services on either an individual or
an integrated package basis.
Our comprehensive capabilities include:
Initial development assessment
Our experience as developers, combined with detailed market
knowledge from our real estate services group, allows us to assess the
potential, risks, and mitigation strategies for any type of commercial real
estate development.
We work to determine the feasibility of acquiring a site and the
relevant zoning and municipal issues. We determine the form and scope of a
building, its estimated costs and its potential to produce an economic
return.
We assist and advise on the development potential of a site,
ensuring through due diligence that environmental, geotechnical and municipal
requirements are taken into account.
Well-established relationships with both municipal staff and
elected officials in the markets we serve enable us to quickly and effectively
understand potential zoning and permitting issues. We undertake rezoning and
permitting processes to achieve the best economic results for a project.
This is the cornerstone of the development process. It begins at
an early stage and continues throughout the process of development. A full
understanding of project components, as well as their effect upon each other,
is necessary to comprehend cost implications, revenue implications and overall
feasibility results. Economic proformas are produced at an early stage and are
continually updated to test and analyze any changes for viability. This enables
decisions to be made quickly and early, avoiding costly mistakes later.
We retain design professionals who bring a top calibre of
expertise to the design process. Managing this process, we ensure the
development has architectural appeal and is functionally and economically
developed to attract tenants and investors.
The selection of consultants with a proven track record, with
experience of the type of development at hand, and who can work effectively
together, is critical to the success of the project. Our experience in managing
development projects from start to finish and across all types of real estate
comes to the fore in this process.
Prior to final site acquisition, and at all points in the
process, environmental issues and risks must be assessed and managed. We retain
skilled professionals and overlay our own experience to ensure codes are
observed and that risks are identified and managed. We have specifically
developed environmental policies governing our actions as developers.
Construction is often the single largest cost of development,
and managing this activity is one of the most challenging and potentially risky
activities. Our construction manager is a key part of the process, ensuring
that the design team produces complete and value engineered drawings for tender
and pricing. Construction contracts are negotiated with the general contractor
appropriate to the project. The construction manager monitors progress, quality
control, resolves issues, discusses and approves change orders and keeps costs
in line with projections.
Our specialist JD Edwards software keeps track of project costs
and integrates overall results into the financial reporting for the
development. Specifically assigned and experienced accounting personnel work
hand in hand with our developers to track and report costs.
During the development, we work either with our in-house leasing
specialists or, where necessary, with external leasing teams. We are involved
in creating the right marketing approach and managing the leasing process to
ensure the revenue projections are met, given market conditions.
We work with appropriate legal counsel at all stages to ensure
the myriad legal documents forming part of each development are properly drawn,
executed and enforced as necessary.
Real estate development is a challenging and exciting process,
with a myriad of risks attached. Bentall is one of North America's most active
developers, with all the capability our clients need in order to ensure that
the risks are understood, controlled and managed by experienced
professionals.
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