Development Management Process

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Proactive planning and hands-on project management

Our process, honed over several decades of experience, is founded on listening and understanding your core objectives. We provide our guidance and expertise throughout the development process to ensure your goals are met and the final result meets the needs of your team, your community, your partners and your stakeholders.

Because developing real estate is a cumulative process, with each step building on the one before, it is helpful for Terra to be brought onto a project as early as possible. Decisions made, or not made, early in the development process can have a major impact later on.

Our development management process

Create a project plan

Create a project plan

We help assemble the development team, identify the project’s goals and objectives, define the property to be developed, and develop an initial building concept. At this stage, we also assist in assessing your financial and operational capacity to undertake development of the project.

Development management process - determine feasibility

Determine feasibility

We work with you to assess the project’s overall feasibility, with a goal of determining how it should proceed. This stage involves gathering more detailed market intelligence and demand analysis, developing preliminary capital and operating budgets, preparing preliminary designs and investigating approvals.

Development management process - prepare for construction

Prepare for construction

Proceeding with pre-construction is a significant step, as it typically involves major expenditures for architectural and engineering services. During this stage, we help determine an acceptable construction contract. The goal is to arrive at a firm capital cost budget, finalize agreements and achieve all necessary approvals in order to proceed with construction.

Development management process - support construction

Support construction

We participate in construction meetings and help resolve any issues that arise during the construction process. This stage also includes accounting for all project costs and facilitating advances from lenders or financing bodies, which is managed by Terra’s claims department. We may also need to initiate and coordinate marketing, pre-leasing or pre-sales, depending on the nature of the project.

Development management process - move-in and post-construction review

Move-in and post-construction review

Once construction is complete, we support you and your new residents through the move-in process, deal with construction deficiencies, and finalize the project’s capital cost. As a full service organization, Terra can provide further services through the life of a property, including property management and long-term asset management.