Planning a large development project can be daunting. Working with M&S Development means your management team does not have to carve significant time out of their schedules to manage the project. As development consultants and building owners, we know the economics of development in New England, and understand the components and comprehensive economic strategies necessary to secure gap financing.
Our Development Services are tailored to the needs of individual projects, whether a project focuses on economic development, affordable housing development or market-rate housing development. For illustration we have broken the stages of a project into five manageable phases and highlighted some of the services we perform for each phase.
- Feasibility. Analysis of financial and market feasibility – does the pro-forma work, is there a market for the project – assessments of constraints and planning for programming. Most importantly, this Phase informs the developer’s go-no go decision.
- Pre-Development. Once site control is obtained, funding procurement and property and legal due diligence get underway. Our team has decades of experience of successfully procuring tax credit, loan and grant financing and has strong relationships with the regional lenders and tax credit allocatees.
- Design Development & Permitting Coordination. We work with the Owner, architect, and engineer on programming, building and site design, and permitting.
- Construction. M&S Development’s role continues as Owner’s Representative managing the project budget and schedule to keep the project on schedule and within budget by controlling the construction draw process, making site visits and coordinating construction period compliance management.
- Compliance and Asset Management. Our members have extensive experience in tax credit, grant, investor and regulatory compliance requirements having managed and participated in numerous tax credit – NMTC, LIHTC, HTC, Renewable PTC/ITC projects, managed and participated in numerous projects involving HUD compliance and managed financial and performance reporting and portfolio accounting including data collection.
At-Risk Feasibility Services – Our goal is to facilitate community redevelopment. To that end we often offer to share the risk with our client community and provide a fixed amount of pre-development financial feasibility work at-risk.