Fee Development
As a Fee Developer, PMF Investments can take on and manage all, or limited, aspects of the development process on behalf of a property owner. Upon reaching a detailed agreement with an owner or an owner’s representative regarding a development scope of duties and what authorities are to be turned over, PMF is capable of carrying out work ranging from team assembly and management, to project design guidance and oversight, to construction management, leasing and divestment.When working on behalf of a property owner, PMF treats the project and the investment as its own. This includes the selection of the architect, contractor, engineers, and other necessary professional services; garnering entitlements and the necessary political and public support for a project; and attracting interest in the project from prospective tenants and/or buyers.
Other elements of the fee developer process may include:
- Establishing and maintaining the project schedule
- Reviewing and approving all contractors’ and subcontractors’ bids
- Assuring compliance to project budget
- Conducting field inspections of project progress
- Resolving design and construction problems
- Scheduling and attending inspections
- Reviewing all change orders
- Coordinating owner-tenant concerns
- Preparing punch-lists
- Obtaining occupancy certificates
- Placing the building in service
As with PMF’s own development projects, the company prides itself in the ability to produce products that meet the market, maximize revenue and keeps hard costs in control. PMF’s Fee Developer services are provided on a percentage fee basis. The fee is based on the total project cost. PMF’s percentage fee is on a sliding scale, reducing as the size of the project increases.
Development Consultant
This service is best utilized by owners/developers who plan on taking an active role in developing their project, but would like the benefit of professional, objective advice on an as needed basis. As a Development Consultant, PMF provides consultation to the owner/developer regarding any requested elements in the development process. These elements include but are not limited to:
- Input on concept and design
- Site analysis and selection
- Review of real estate contracts
- Market analysis
- Review of cost analysis and pro-formas
- Review of contractor bids
- Assisting in entitlement/permitting
- Formulating marketing and leasing plans.
Development Consulting services are provided on an hourly fee basis, affording great flexibility to the owner/developer.