Project Management

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Always give people more than what they expect to get.

Acquest Realty Advisors, Inc., a full service real estate company with over 37 years of experience, assists owners in managing all aspects of the real estate development process; from planning, permitting, programming, design and estimating through construction, punch-out, completion, operator turnover and move-in.

 

Acquest’s team of experienced professionals takes single source responsibility and accountability for each of its projects.  Acting on behalf of its owners, Acquest takes control of, and responsibility for, budget and schedule maintenance.  Besides day-to-day coordination and hands-on project management, Acquest provides superior financial, analytical, scheduling, budgeting and reporting expertise.

 

Acquest’s multi-disciplined team offers expertise in contract negotiations and contract administration, as well as qualifications-based and competitive bid contractor selection.  We have worked with almost all of the major contractors and architects in the metropolitan area.  Acquest’s project delivery system ensures that each project is designed and constructed with a high level of quality and at the lowest possible cost.

 

Acquest can offer a full service approach to your development project, or it can provide any combination of services from the attached listing of Basic Services.

SCOPE OF BASIC SERVICES FOR PROJECT/DEVELOPMENT MANAGER

 

Acting in its unique capacity as fiduciary to its clients, Acquest can manage all aspects of the real estate development process.

 

GENERAL – ALL PHASES

 

  • Publish and maintain project directory
  • Conduct project meetings and distribute minutes
  • Keep project accounting books and records
  • Prepare and distribute monthly project report
  • Facilitate and direct project communications
  • Negotiate and administer all contractual agreements subject to Client review and approval
  • Review consultant/vendor/contractor invoices, lien waivers, and recommend payment
  • Prepare project funding applications for submission to lender/trustee
  • Coordinate activities of development sponsors, land planners, architects, engineers, financial and legal consultants

 

 

 

 

CONCEPT/FEASIBILITY/CONSTRUCTION PHASE

 

  • Review Client’s project goals and requirements
  • Evaluate site and improvements
  • Commission soil testing as required
  • Evaluate entitlements, land use approvals, and permit requirements
  • Coordinate with Client and Client’s design consultants in developing land use plan,
  • Prepare conceptual project and design schedule
  • Assist Client in developing selection criteria for residential, retail and assisted living development sponsors
  • Negotiate design contracts for Client approval
  • Coordinate with Client, Client’s design consultants, and selected development sponsors to develop conceptual site plan, incorporating density analysis and market condition analysis
  • Develop conceptual budget of “Total Project Costs” (direct and indirect) for each use
  • Create Responsibility Matrix
  • Prepare project management plan outline (staffing, communications, budget, schedule, etc.)
  • Prepare and revise as needed financial operating models, budgets, and schedule for use in various required investment proposals
  • Assist Client in negotiating terms of the Master Development Agreement with the City of Detroit and the Detroit Housing Commission
  • Research, identify and make application for all publicly offered entitlement programs available to the project including HUD and Brownfields Redevelopment programs
  • Aid in securing financing for development partners
  • Supervise all facets of construction
  • Hold bi-monthly construction meetings with development sponsors and client
  • Negotiate and administer all construction contracts

 

 

 

DESIGN PHASES (CONCEPTUAL,SCHEMATIC, DESIGN DEVELOPMENT, CONSTRUCTION DRAWINGS

–    Identify, interview and recommend specialty design professionals as required

  • Prepare and administer agreements with specialty design professionals
  • Coordinate required design disciplines in preparation of design documents for approval at each phase of design
  • Review and manage design for quality and contract requirements
  • Update design and project schedules at each design phase
  • Update project budget at each design phase
  • Coordinate value engineering exercise when required

 

 

 

 

 

 

PRE-CONSTRUCTION

 

  • Participate in preparation of bid packages, bidders meetings, review and recommendation of bid award
  • Monitor any local hiring and/or MWBE initiatives required by Owner
  • Monitor the permitting process
  • Prepare bid packages for kitchen equipment, furniture, fixtures, & equipment, audio-visual equipment, security systems, signage, operating supplies, and telecommunications
  • Identify, interview and recommend bidders and purchasing agents
  • Solicit bids and proposals from contractors and purchasing agents
  • Recommend bid packages
  • Prepare spreadsheet and bid analysis for Owner’s review
  • Verify financial and technical background of potential vendor/contractors
  • Review certificates of insurance for each contractor
  • Prepare contracts for construction and purchasing
  • Recommend and engage required testing consultants
  • Update design and construction schedules
  • Update project budget
  • Direct value engineering efforts, if required

 

CONSTRUCTION

 

  • Attend bi-monthly construction meetings on behalf of Owner
  • Expedite approval of shop drawings and samples
  • Provide on-site Owner representative if required
  • Negotiate and administer contractor’s agreement
  • Update project budgets and schedules
  • Review pricing and process contractor change orders
  • Review and process contractor applications for payment concurrent with architect’s certification

 

PROJECT CLOSE-OUT

 

  • Monitor completion of punch lists and preparation of “record documents”
  • Direct turnover of warranties and manuals to property and Owner
  • Monitor equipment training as required by contract documents
  • Prepare final cost forecast
  • Collect final releases of liens from contractors
  • Recommend final payment to vendor/contractors
  • Prepare project review, “lessons learned” for OwnerTurnover of project records to Owner