Condo Dev 101
Condo Development 101
We've learned a lot about how to develop condos since we started in the late 1990s. So for the fun of it, we thought we'd share some of our secrets. But one word of caution - best not to try this at home. It could get costly.
How to launch a project
So you’ve got a site. It’s not worth much unless you can turn it into a pre-sold development. In this installment, our deepest secrets on how to successfully pre-sell a project so that your banker will give you the money to build it.
How to approach a new market
From Ottawa and Montreal in the early 2000's to Winnipeg, Halifax and Saskatoon more recently, Urban Capital has foraged new trails, bringing to new markets the condominium development savvy it has honed in the hyper-competitive Toronto market. Herein, a brief roadmap of the steps UC takes when approaching a new market.
How to build large buildings on small sites
As our urban centres become more and more dense, available development sites are getting smaller and smaller. So the art, and science, of putting big buildings on small sites is ever more important. For over 15 years Urban Capital has had intimate experience in building in very tight urban locations. In what follows, a little inside knowledge on how we’ve done it.
How to get a site approved and under construction
You can purchase a site that has its zoning in place (and we often do that), but you make most of your money in development by securing your site’s “entitlements” yourself. Depending on the city, that could be a long, frustrating and expensive process. In our seventh instalment of Condo 101, we (reluctantly) take you through it.
How to keep your clients happy
There are many people to keep happy in condominium development — your lenders (who want their money back), your investors (who want the return you promised), the city (who want the building exactly as they approved) and your designers (who want the building exactly as they designed). Sometimes we forget the most important people — the purchasers. Herein, 10 steps to keep them happy and ensure that, among other things, you’re not raked over the coals on social media.
How to finance a project
Building a building costs money. A lot of it. You can put in all of the money yourself, but that’s not the most effective use of your cash. A better way is to maximize your financing. Herein, a guide to using leverage to build a condominium project.