Location: Kelowna, BC
Client: All In Investments Canada Ltd.
Project Description
All In Investments was the majority equity partner in two development projects in Kelowna, BC. As the project progressed, All In Investments felt they required additional development expertise to assess and improve overall management and performance, prior to construction. The client recognized that risk mitigation strategies needed to be implemented to maintain and control project performance metrics until completion. We began to forensically assess the projects’ performance with the goal of relaying the challenges and implementing risk control measures that protected All In Investments’ financial return. By reviewing all documentation, contracts, financing, and historical communications, we were able to identify and convey to the client where prior challenges in project management protocol had occurred and subsequently implemented best practices to safeguard the projects’ success.
Scope of Services
Colliers was engaged to provide Owner’s Representative and Development Management services for the two properties. Our services include thorough financial controls, project reporting protocols, and contract administration; financial monitoring and coordination with the General Contractor, consultants, and sub-trades; overseeing and closing out remaining tendering; monitoring of risk mitigation protocols and project management best practices; and creation of a lease up plan to meet asset stabilization objectives.
Outcome
The development project was completed with occupancy in April 2021. Pacific Avenue is a 5-storey rental with 31 units. The Clement Kelowna, located at 599 Clement Avenue, was awarded the Urban Development Institute 2021/22 Award for Excellence in the category: Best of the Okanagan.
Development Advisory
Client: All In Investments Canada Ltd.
Project Description
All In Investments was the majority equity partner in two development projects in Kelowna, BC. As the project progressed, All In Investments felt they required additional development expertise to assess and improve overall management and performance, prior to construction. The client recognized that risk mitigation strategies needed to be implemented to maintain and control project performance metrics until completion. We began to forensically assess the projects’ performance with the goal of relaying the challenges and implementing risk control measures that protected All In Investments’ financial return. By reviewing all documentation, contracts, financing, and historical communications, we were able to identify and convey to the client where prior challenges in project management protocol had occurred and subsequently implemented best practices to safeguard the projects’ success.
Scope of Services
Colliers was engaged to provide Owner’s Representative and Development Management services for the two properties. Our services include thorough financial controls, project reporting protocols, and contract administration; financial monitoring and coordination with the General Contractor, consultants, and sub-trades; overseeing and closing out remaining tendering; monitoring of risk mitigation protocols and project management best practices; and creation of a lease up plan to meet asset stabilization objectives.
Outcome
The development project was completed with occupancy in April 2021. Pacific Avenue is a 5-storey rental with 31 units. The Clement Kelowna, located at 599 Clement Avenue, was awarded the Urban Development Institute 2021/22 Award for Excellence in the category: Best of the Okanagan.
Development Advisory
