At Monument, we know that time is money and that debt and equity financing is something that must be secured during the planning and pre-development process. We have developed a process that allows us and our clients to move through pre-development efficiently and with confidence. We are usually able to provide highest and best use recommendations, significant roadblocks to overcome (typically zoning, environmental and/or historic tax credit-related design limitations), base development plans, and project pro forma within the first couple weeks of our involvement.
With the knowledge that the project is viable and has a very good chance of achieving the financial performance desired by the owner, we then consult with the owner, architect, potential subcontractors, and any other project constituents to establish a Targeted Guaranteed Maximum Price (TGMP) for the constructionand development. The TGMP is a reasonable preliminary estimate of what the total cost of construction will be to complete the project as contemplated. At this stage of the process, it may be necessary to alter high level designspecifications to bring project costs in line with the owner’s financial performance metrics. Achieving a close estimate of final project cost early in the process is critical as it allows us to finalize the project pro forma and seek needed financing early in the development process and to do so with confidence. Monument performs its projects “open book” and charges actual project costs plus a fee with a Guaranteed Maximum Price.
Every real estate development project is unique and every decision a developer makes affects the quality, schedule, budget and future profitability of the project. Understanding that planning, design and construction decisions will impact property performance for decades, our deep knowledge of construction and multi-family and mixed-use property management informs our development decisions. We leverage an objective analysis of project costs, incentives, risks, rewards, and timelines to minimize the required financial investment while maximizing the financial viability and success of every project.
For additional information about our location, see Contact Us.