August 3, 2022

Big Money Can Be Made Before A Builder Even Breaks Ground

by

Mike Halupka

Pre-construction activities like scope, design, cost estimation and permitting are critical for every development project. According to a study by Arizona State University, developers spend 5% of their total budget on presconstruction costs. So getting preconstruction activities done right paves the way. Getting it wrong can wreck a project and add unnecessary risks and costs.

In pre-construction smart builders like Altis Capital, invest time making sure there is clarity in the project goals and objectives, that scope considers all stakeholders' points of view — but especially the needs of people who will spend time in the space once it's complete. They have routine processes and leverage technology to manage administrative and financial tasks of a project as well as reporting, freeing up critical leadership and staff for higher order work and meaningful full-team communications.

Altis Capital knows the importance of preconstruction. Leadership drives clarity of goals, scope and sets up KPIs during pre-construction designed to measure variances from the original plan by day. Technology  brings a transparent view of the work, schedule dependencies and can even alerts those whose schedule will be impacted so they can plan accordingly. Automation of administration tasks allow experts to focus on challenging aspects of the work — without the administrative burden of lengthy phone calls, back-and-forth email threads and time-consuming report building.

Pre-construction services are essentially the business plan for a commercial construction project. Mastering the phase before building is the key to profitability.

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Developers who implement modern technology can reduce costs and increase returns. Leveraging real estate management technology designed specifically for the real estate developers not only improves efficiency put also employee, contractor and partner satisfaction. Everyone wants a professional experience similar to their own lifestyle — online, on-demand, and self-service.

According to ReportLinker, whose analysts have been monitoring the global family entertainment center market say it is poised to grow by $21.05 billion between 2022-2026, accelerating at a CAGR of 12.29% during the forecast period. They say market growth is driven by expansion of AEI, increasing physical activity in arcade gaming, and surging disposable income in the emerging countries.

Constructing a sports facility comes with its own set of unique challenges. From design and timing of delivery to precision requirements for everything from surfaces and lighting to dimensions and even spectator seating, large sports facility construction demands the right partner. A development group with knowledge of sports facility architecture design, the unique needs of sporting venues and experience delivering a structure that matches the unique needs of the sports business that will operate in the new space. Altis Capital excels at sports facility development and is always looking for opportunities to help gym owners realize their big league dreams.

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