Development Management

The Lamplighter School | Dallas, TX

Services

Leadership from Idea to Implementation

Pritchard’s development management team handles a wide range of tasks and responsibilities, all aimed at taking a real estate project from conception to completion. Clients rely on us for a multitude of tasks, including evaluating site feasibility, managing architect and contractor selections, facilitating municipal development approvals, coordinating logistics and managing the budget and schedule.

Core Capabilities

Site Selection Support

Selecting the right location can significantly impact the project’s overall profitability and growth potential. Pritchard’s site selection support provides clients with the tools and expertise to make informed, reliable decisions about which locations will be most fruitful. This includes processes like market assessment, site modeling, sales forecasting, and forecasting lease rates. The ultimate goal is to ensure that our clients have the certainty they need to choose the optimal location to enhance their business success.

Feasibility Studies

This comprehensive analysis is conducted before undertaking development to determine if it is viable, considering the proposed location and the conditions impacting the potential of development. Pritchard supports clients by conducting an analysis that includes local market demand, construction and operational costs, zoning regulations, design feasibility, and site constraints. Feasibility studies help maximize return on investment (ROI), drive business and marketing strategies, and uncover valuable information.

Project Team Coordination

This work involves overseeing activities from design through construction phases, ensuring seamless collaboration among design teams, construction managers, and stakeholders. This role includes coordinating rezoning efforts, developing scopes, and managing regulatory compliance with consultants. By working closely with all project team members, Pritchard upholds project goals and ensures efficient operations throughout all phases.

Pro-forma Development & Economic Analysis

This comprehensive analysis ensures informed decision-making, helping to maximize financial returns and project success. The Pritchard team provides a pro forma analysis to show the financial feasibility and profitability of a development project, showing how the project will generate income and expenses over time based on assumptions and projections. It includes a set of calculations projecting the financial return a proposed real estate development is likely to create.

Construction Management Services

Construction management provides a real estate owner or investor with a representative who oversees and manages project’s schedule, cost, quality, scope, and purpose. Construction management involves planning, budgeting, coordinating, and supervising construction projects from start to finish.

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Schedule Analysis & Forecasting

Schedules are the guide for any project, and managing them efficiently is crucial to avoid delays and budget overruns. The Pritchard approach involves constant updates and analysis of potential risks and schedule impacts, providing clients with the certainty they need to make informed timing decisions. Construction schedule analysis and forecasting is a vital tool that allows the project team to plan capital and resource allocations with greater efficiency. Our experience across various industries allows us to apply best-in-class practices and controls to monitor and forecast project schedule accurately.

Contract Risk Analysis

As the owner’s representative Pritchard uses our experience to evaluate design and construction contracts to identify terms that could affect a project’s ability to achieve its objectives. Although our team does not offer legal advice of any kind, experience has given us insights into contract terms that can expose clients to financial, legal, and compliance risks. Although it is impossible to eliminate all risks associated with a project, this analysis is crucial because it ensures potential risks are understood and managed effectively, protecting client interests and contributing to project success.

Permitting and Regulatory Consulting

Pritchard plays a key role in guiding developers through the permitting process. Barriers and delays with permitting, zoning, public forums, and other development pitfalls can sidetrack your project. Our team steps in to navigate these roadblocks and move your project past obstacles to secure the approvals needed to move forward successfully.

Draw Funding Management

Effective draw funding management is pivotal in real estate investment projects, dictating the phased timeline and expenditure expectations. Pritchard’s process begins with detailed planning before loan closure, where project phases are scheduled and agreed upon. Once funds are secured, lenders hold reserves until each project phase is satisfactorily completed as per the agreement. Our teams oversight ensures that resources are allocated efficiently, minimizing risks and ensuring project milestones are met.

Project Risk Assessment & Management

Real estate development carries inherent risks and managing them helps safeguard client investments. Pritchard begins with a comprehensive assessment to identify potential threats that could impact project success. Factors such as economic fluctuations, environmental considerations, regulatory shifts, and global events are carefully evaluated for their potential consequences. By proactively addressing these risks, stakeholders can enhance project resilience. This proactive approach ensures projects remain on track despite evolving conditions in the real estate market.

Featured Projects

Great Hills Country Club

Austin, TX

Pritchard Associates served as owner’s representative and project manager on a two-phase renovation of the Great Hills Country Club in Austin, Texas, partnering with the club to modernize and expand its food and beverage venues. [...]

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