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* Obtain site control/enter into asales contract orpurchase agreement <br />* Conduct adetailed financial feasibility analysis <br />* Identify funding sources and prepare alternative financing strategies if necessary <br />* Obtain conditional financing commitments <br />p Modify development concept ifnecessary <br />DEVELOPMENT PHASE <br />* Complete working architectural drawings and cost estimates <br />* Submit applications for funding sources <br />* Secure construction and bridge (if necessary) |08ne, and permanent financing <br />* Purchase the property <br />p Obtain all required planning and zoning approvals and environmental clearance <br />* Assemble bid package for hiring of a general contractor or master builder <br />CONSTRUCTION <br />* Award construction and other contracts <br />* Hire construction manager/general contractor <br />* Oversee completion of construction (including inspections and construction draws) <br />p Develop lease -up and marketing plan (if not already in place), including affirmative fair <br />housing marketing plans <br />p Manage construction close-out <br />* Begin marketing to prospective tenants <br />MANAGEMENT AND OPERATION <br />* Identify qualified, experienced management firm ifnecessary <br />* Lease out units <br />* Complete any required compliance reports <br />The importance ofrelationships tothe production ofhousing <br />Developers must assemble their development teams carefully, ensuring that their experience, <br />qualifications, and capacity are adequate to the developer's expectations and the job's <br />complexity. The developer also needs to be a careful nurturer of relationships, particularly if <br />the development team intends to develop additional future projects. <br />Developers need to invest time and human capital into partnering and negotiating with a <br />range ofdifferently motivated actors otdifferent moments in the process. They need to <br />vet and enter into contracts with firms from fields such as architecture, engineering, title, <br />insurance, legal, construction, and underwriting and finance. Primary finance firms such as <br />banks, corporate investors, and government funders all need to be engaged to contemplate <br />the cost, timing, and availability of pre -development, construction, or permanent loan <br />financing, and all compliance obligations originating from receipt offunds. <br />The developer also needs t0establish positive working relationships and build trust with <br />local officials and staff, community groups, and citizens. A keen developer must understand <br />ONE� Housing mmrmGrowing, 7hrivinqgegion <br />