4 Steps to Keeping Existing Projects Moving Forward

Preparing to be First to Market Upon Financial Shifts

In the world of land development, uncertainty is not just a passing guest; it is a constant companion. The industry regularly navigates an ever-changing landscape marked by economic ebbs and flows, market fluctuations, and unforeseen challenges.

Today, high-interest rates, ongoing skilled labor shortages, and the ability to acquire funding create an air of unpredictability.

However, in the midst of this economic ambiguity, owners and developers can find strategies to keep their projects moving forward through strategic planning and collaborating closely with land development consultants.

Here are a few strategies and initiatives that can help development teams emerge as frontrunners when the market’s winds shift favorably.

1. 1. Assess the current status of your projects and prioritize opportunities.

The key to asset resilience lies not in freezing progress, but in strategic assessment and prioritization. Rather than place a blanket hold on all projects, consider assessing each site uniquely, weighing each’s approval status, the depth of design progression, and/or the potential for rezoning.

Right now, there is a noticeable strain on development teams. Collaborate alongside your full design team – including architects, general contractors, and site civil engineering consultants. Draw from their diverse experiences across markets, garner unique perspectives and foresight, and unearth creative solutions. Allow them to help you seek avenues for cost reduction, reevaluate timelines, and reimagine possibilities.

SEE RELATED: Building a Successful Development Team 

With extensive experience tackling a variety of challenges alongside developers nationwide, our experts are well-positioned and ready to offer seasoned advice.

2. 2. Look for opportunities to add value.

Amid economic shifts and market transformations, lies a unique opportunity to reimagine and reinvent. Take the moment to step back and reevaluate site layouts and designs that may have worked initially, but have since been unable to pencil financially.

For developers, this juncture signifies a rare opportunity, perhaps the first in a decade, to explore alternatives and envision what serves not just the present, but lays the groundwork for a more compelling future.

SEE RELATED: 5 Times EARLY LANDSCAPE architecture engagement is key 

Bohler’s site civil engineering consultants collaborate closely with Bohler’s planning, landscape architecture, and design teams to seek long-term value addition. Together, they focus on future-proofing sites by incorporating elements that enhance their appeal and significance.

In Herndon, VA, Bohler’s planners evaluated a proposed plan for a multifamily developer. Following the assessment, our team added density, reimagined amenity spaces, and optimized the overall site layout.

3. 3. Keep permitting moving forward.

For projects in the design phase, consider keeping the permitting process active. In certain regions, entitlement processes can require up to two years. Completing this groundwork in advance positions you and your team to be shovel-ready when seeking construction financing.

At Bohler, we employ a variety of strategies to assist in expediting permitting and entitlements. Consider involving the design team early in the process, allowing for a systematic approach to due diligence and aiding developers in budget allocation decisions. Concurrently running permit documents whenever feasible significantly reduces the overall timeline. Additionally, fostering collaboration with local stakeholders proves instrumental in advancing a smoother and possibly more efficient process – especially when they are engaged in the project’s development along the way.

4. Save by spending.

Developers are maximizing returns and efficiency by strategically saving through wise spending – with a focus on preparing priority properties for construction now. Completing thorough due diligence, finalizing designs, and securing permits in advance sets the stage for immediate action once construction financing materializes. This proactive approach may significantly reduce the time to market and accelerate the realization of your investment returns.

Our experts offer tailored options, understanding that completion of all aspects might not be necessary immediately. Tailoring design and permitting to fit your unique situation could be a smart move.  We are here to assist in making that determination. Time is of the essence, and strategic investment in preparatory stages may pave the way for substantial gains down the line.

Depending on budget constraints, clients can choose between faster, cost-effective options and more comprehensive, certified surveys.

–Tom Teabo, Associate, Land Surveying

Preparing to be First to Market

In a time when it feels as though much is out of our control, focus on the project elements that you can control. In an industry that moves quickly, it is uncomfortable – and stressful – to pause. Lean on your consultants during this time. Use their experience and guidance to maintain momentum.

If you have questions or concerns about your existing project, our team is here to help. With offices throughout much of the country, we can help you find creative ways to move forward.