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Brightside Enhances Project Performance

Case Study  Macleod Manor  Article Hero  1536x1040
CHALLENGE

As the project progressed to draft rezoning stage, Brightside required additional development expertise to assess & improve overall management and performance, prior to construction. Furthermore, the client recognized that risk mitigation strategies needed to be implemented to maintain and control project performance metrics until completion.

STRATEGY

CIC stepped in as the project’s Development Manager to provide additional structure and clarity to the process for the client.  The first steps taken by CIC were to conduct design reviews of both interior and exterior elements to improve building efficiency, operations and financial feasibility. As an expert in financing affordable housing projects, CIC began the application process for funding and pursued grants on behalf of the client.  Furthermore, CIC reviewed the design team and all contracts associated with the project.

SERVICES

Colliers has, and continues, to provide the following services:

  • Established thorough financial controls, project reporting protocols as well as contract administration in order to better respond to equity and lender oversight obligations;
  • Establishing and evaluating between the different affordable housing financing options;
  • Continual administration of the development and construction by implementation of financial monitoring, scheduling and organizing the consultants, General Contractor, and sub-trades; 
  • Re-evaluation of overseeing of project design team contracts and controls; 
  • Establishment and monitoring of risk mitigation protocols and project management best practices to eliminate issues prior to impacting critical path schedule and / or financial performance; and
  • Administration of a lease and operations up plan to meet asset stabilization objectives.
RESULT

CIC introduced rigour, reporting and industry best practices as Development Manager, leading to Brightside’s improved confidence in the successful completion of the development. The project is now on track to complete as scheduled, with risk mitigation protocols in place to protect the organization’s  investment to date, as well as overall asset level financial performance.


For More Information, Please Contact:

Jaraad Marani

Vice President, Development Advisory

Vancouver

Jaraad joined the Consulting team in 2015 with a background in retail development.  He has a Masters of Urban Planning from the University of British Columbia.  Jaraad has a strong background working with municipalities, NGO's, non-profits, and private companies around achieving land use decisions that are mutually beneficial to all parties involved.  Jaraad's current role is as a Development Manager, working with both the United Church Housing Society and the Vancouver Freemasons on managing the redevelopment process of their respective properties.   

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David Bowden

Vice Chairman, Head of Strategy & Consulting Group

Vancouver

With more than 40 years of experience in the commercial real estate industry, including serving as CEO I Canada at Colliers International for 14 years, David assumed the role of Vice Chairman and Head of Strategy and Consulting I Canada on March 31, 2020. In this role, David integrates Colliers’ existing consulting practices into a national Real Estate Strategy & Consulting entity, building on operations to deliver the best real estate solutions for investors, institutions and corporate clients with significant real estate assets and portfolios.

David is highly regarded for his deep connections and innovative business perspective, providing strategy and guidance on best practices in corporate leadership, change management and innovation.

David holds a Bachelor of Commerce in Urban Land Economics from the University of British Columbia and is a member of REALPAC. Consisting of fewer than 100 members, REALPAC is the national industry association dedicated to advancing the vitality of Canada’s real estate sector. 

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