Constructing Flex Space real estate

Construction is a process that requires planning and patience. The best way to approach the construction process is to break it down into phases and tackle each phase one at a time. Here, I’m going to discuss the four phases of constructing a Flex Space.

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Phase 1: Pre-Construction

Pre-construction includes outlining all of the steps needed to begin construction. The first of these is project planning, which entails defining the goals, budget, and timeline for the project. Another necessary consideration is financing- develop a financial plan that outlines the cost of permits, professional fees, and contingencies.

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Next is site acquisition. To acquire a suitable land for your particular project, evaluate the location, accessibility, utilities, and zoning regulations of potential sites. Lastly, develop the design concept for your project. This will require you to work with architects, engineers, and consultants to create a plan for what your development should look like. When creating this plan, consider factors such as the layout, size, electrical requirements, and building codes of your development. You may also want to request a draw schedule before construction if you have taken a bank loan to ensure your loan payments are payed in a timely manner.

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Phase 2: Permitting and Approvals

This phase requires you to obtain all necessary permits and approvals needed for construction. These can include building permits, zoning permits, environmental impact assessments, and utility connections. You will also need a final set of architectural drawings that must be approved by your town/city/country. These drawings will need a permit to build, which will be acquired by your engineer. Once you’re permitted to build, you can begin with the construction process.

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There are also many required permits that you will need during your construction process. These will be obtained by your general contractor and can include electric, sewing, plumbing, etc. At times, your general contractor might have to submit a change order, which is needed when an element on the drawing cannot be executed as is and thus a change needs to be made and permitted. These are very common and can be needed multiple times throughout your development.

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Phase 3: Construction

This is the phase where construction can actually begin. The first step in constructing is site preparation- this includes clearing the land, leveling the site, and preparing it for construction. The site must be excavated, graded, and proper drainage must be installed. Next is the underground work, which includes plumbing, storm drainage, sewer pipes, etc. The foundation is then built, which takes up 80% of the construction budget. The foundation can be slab-on-grade or raised, depending on site conditions and design requirements.

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Following the foundations is structural framework and interior construction. The columns, beams, roofing system, and insulation are installed, followed by the interior walls, partitions, and floors. Interior construction can be done in phases where only a few units are completed at a time, avoiding unnecessary building in case a tenant chooses to rent more than one unit. Next, electrical, plumbing and HVAC systems are installed. The last part of the construction process is finishing touches. Inside, these are things like the painting, flooring, lighting, and signage. Outside, this includes parking lots, access roads, landscaping, and exterior amenities.

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Phase 4: Inspections and Handover

Now that construction is completed, all thats left to do is complete inspections and bring in tenants. Regular inspections, bank inspections, and final inspections all must be conducted to ensure compliance with all regulations. A punch list can be used to address any remaining deficiencies or incomplete items identified during inspections. Lastly, gather all project documentation and handover ownership or lease the unit to the end-user or tenant.

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While the construction process may seem overwhelming, it becomes much easier with someone guiding you through it. My team at Flex Space Untapped is ready to provide you with all the resources and information needed to make your development process a breeze.