Fee Development & Project Management
The Rilea Group has been developing real estate projects in South Florida since 1981. We are known for taking a project from early inception, defining the right program and best use for the project, taking it though the development and construction phases, delivering in budget and time and executing the correct exit strategy whether it be via leasing or sale.
Through experience, relationships and a hard-earned track record, one of our company’s specialties and niches is acting as a project manager/fee-developer. This concept has permitted investors, sponsors & owners seeking to see their projects in South Florida become reality by with the peace of mind of having a strong company spearheading the entire development process. Our track record of successfully delivering large jobs on time and on budget is what has given the Rilea Group real credibility with lenders and sponsors.
OUR COMMITMENT TO YOU
- Selecting and purchasing the right property, assist in all entitlements and once obtained completing the construction documents and permitting processes in order to obtain the building permit.
- If residential, analyzing the project, suggesting its program with special emphasis in the unit mix, size and lay-out and the amenities to be provided.
- Choosing the appropriate consultants for all disciplines in order to produce a first-class product design. From the architect to the engineers, civil, M.E.P, fire protection and structural, from the interior designers to the landscapers.
- Create an overall development budget and schedule.
- Hire a General Contractor, help draft the contract, negotiate its terms while coordinating all the processes, from a legal, insurance and budgeting point of view. Produce a monthly cash flow of projected payments.
- Bring on board the selected construction company to be involved in the pre-construction design phase to provide design efficiencies and help through the process. We recommend negotiating their fee, their general conditions and keeping open to competition all trades.
- Supervise the entire construction process with all that this statement entails:
- General job supervision, control of budgets and schedules, quality control, etc.
- We would have constant construction meetings as a standard along with any other required meetings to accomplish our goals. In those meetings, the assistance of all needed consultants will be required and coordinated. From the architects, to the engineers, interior designers, inspectors and all other needed professionals.
- Make sure that all RFI’s (Request for Information) are answered on time and that all activities and interactions constantly flow in a very fluid way in order to have a very transparent and fast level of interactions.
- Handle the entire accounting, check preparation, payments to consultants and vendors, arranging a thorough audit, etc.
- Our accounting software, Yardi Systems, is cloud based and allows Ownership constant access to see everything that is going on in real time. We are firm believers of full transparency.
- Work diligently to obtain a timely TCO & CO.
- Fully close-out both job and payments with general contractor and make sure there aren’t any open liens or pending issues.
- Assist in building the on-site human team who will operate the buildings (Chief Engineer, Property Manager, Leasing Team, Concierge, etc) along with aiding in setting up service contracts with major vendors (elevators, HVAC, generator, fire alarm, cleaning, etc).
- Sales/Leasing effort: Bringing the sales/leasing team on board by incorporating their input (totally or partially) into the project design, assist in the design of collateral and advertising materials and negotiate advertising purchases. Supervise all the sales effort from start to closings. This include condo docs, reservations, contracts etc. Assist in weekly meetings with the sales people, marketing teams, PR teams. Organize sales trips, events and finally coordinate the pricing of the units and keep it constantly updated based on market absorption.
Between you and Rilea Group there will be a constant, transparent and constructive flow of information.