New Development Consulting
New Development Services
With extensive experience in new development sales and leasing, our goal is to add value by maximizing price, accelerating sales velocity, and optimizing terms for our clients while implementing a compelling branding and marketing strategy for your building.
Marketing a property begins during the design phase of the development. Extensive market research specific to the subject property is the key to designing a building that will be well received by the market. The Heller Organization’s marketing team actively shops competing properties and utilizes its relationships with an extensive network of industry professionals to ensure the proper unit mix, sizing and style for the project.
During construction and upon completion of the building, The Heller Organization implements marketing strategies specific to each project. The team’s experience in the marketing, sales and leasing of thousands of units allows us to provide these services in-house. Rather than contract with an exclusive outside residential marketing and leasing agent, the in-house team works directly for the project, works within the set marketing budget, implements our strategies, and works with all outside brokers to fill the building.
Our vision for each building is an exercise in originality, quality and superior design. Creating a product that is well received in the marketplace is an ongoing effort that begins with a close collaboration with the architect and design team. It carries through construction, and is brought to life by our in-house team of sales and leasing professionals.
Our marketing efforts are crafted to produce specific performance metrics. Targeting a qualified audience is the hallmark of our marketing campaigns. We don’t subscribe to the idea of casting a wide net by spending untold amounts of money on mass advertising. Instead, our budgets are carefully crafted and implemented to produce specific measurable results. This very advanced technical strategy is measurable on a daily basis, and has proven to be successful on every project.
Successful developments begin long before a shovel hits the ground. Bringing an experienced team to the table is the most important step of the process. The Heller Organization’s vast knowledge and resources provide insight as to how a site should be developed so as to maximize the highest and best use for the land. By engaging The Heller Organization’s team, a land owner benefits from years of experience and the ability to provide direction from conception to completion of a project. The Heller Organization provides the client with detailed information relating to all aspects of the proposed development including:
A line item budget detailing expected expenses leading up to construction.
Complete investment summary including development costs, cash flows and expenses following completion and multiple measures of rate-of-return on investment.
We work side by side with the top architects, engineers, consultants and contractors in the business. Our relationships ensure these firms place the “A” teams on our projects.
The Heller Organization’s in-house financial managers keep detailed records of every expense relating to the project. This information is at the owner’s fingertips at all times.
The Heller Organization prepares all financial, construction and development packages for lenders in order to procure a construction loan. We also work closely with the legal team in crafting the loan documents once the loan is completed. Our vast experience in procuring construction loans and working on loan documents dating back to the 1990’s is a distinct advantage in a challenging lending environment.
On behalf of the owner, we negotiate the contractor agreements and subcontractor contracts in conjunction with the CM or GC in order to procure the best team at the best pricing.
The single most important facet of a successful project is a hands-on approach to the daily management of the development process. The Heller Organization’s principals and partners make site visits part of their daily routine. Quality control, financial management and marketing and leasing are all monitored closely, and proactively directed on a daily basis. Included in these services are:
City Agency Approvals
We work closely with the architects, engineers, and consultants to secure approvals and permits from DOB, Transit Authority, City Planning and other agencies crucial to the project’s success.
The Heller Organization’s team runs construction meetings, contractor meetings and marketing meetings weekly to ensure all parts of the development team are coordinated. Our daily presence on site ensures issues are proactively dealt with and keeps the process moving forward in a positive direction.
The Heller Organization actively monitors the construction on a daily basis. This ensures quality control, adherence to plans and specs, and the contractors’ adherence to the construction schedule.
On a monthly basis, The Heller Organization’s team reviews the contractors’ requisitions for approval, prepares the lender’s requisition package, conducts the monthly inspection with the lender, administers the draw and distributes payments upon Owner and Lender approval. The Heller Organization also provides monthly cost analyses and project reports to the Owner. Our team of veteran financial administrators receive rave reviews for the quality of the requisitions from lenders, and pride themselves on being “to-the-penny” accurate.
The Heller Organization develops projects from “Conception-to-Completion.” During the construction process, our team makes certain that all contractors’, architects’ and engineers’ paperwork relating to the issuance of both the “Temporary Certificate of Occupancy” and the “Final Certificate of Occupancy.”
Punch-listAttention to detail and the quality of our finished product are very important aspects of The Heller Organization’s success.The Punch-list Team works with speed and precision to ensure the finished product meets our high standards.
Contractor Close Out
The Heller Organization’s team keeps detailed records during the duration of the project. This preparation allows us to close out the contractors with final payments efficiently and without conflict.