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 rigor, 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.


Pour plus d’informations, veuillez contacter:

Justen Harcourt

Vice President

Vancouver

In 2006, Justen joined Colliers as an Analyst with the Unique Properties Brokerage Group.  Over the course of two years with Unique Properties he was involved in the underwriting over $200 million worth of transactions ranging from Marinas and Ski Hills to Islands and Timber Portfolios.
In 2007, Justen joined Colliers Consulting as a Planning Consultant.  He currently specializes in providing Advisory, Valuation and Strategic Planning services on behalf of Institutional Clients, Developers as well as Government.
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Jaraad Marani

Development Manager

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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