Commercial Construction Tips – Facts About Construction Projects

16 Feb Commercial Construction Tips – Facts About Construction Projects

The complexity and high stakes of commercial construction can be confidently navigated with proper planning and the right partners. The potential pitfalls may be obvious and these are missteps during pre-construction, funding and budget problems, and design flaws that cause problems throughout the project. The good news is that we have also seen even the most demanding projects be completed on budget after following a seamless schedule, thanks to a collaborative process and rigorous planning.

Let’s start the conversation about your commercial construction project with these tips:

Look for Local Financing for Your Commercial Construction 

Commercial construction lending is a risky business. Local lenders find it more palatable because they can most accurately weigh the project’s merits and gauge the expected revenue. Find someone who knows the neighborhood and the industry, and feels comfortable with adding this loan to their books. This makes everything go more smoothly and decreases the chances of a last-minute back-out.

Punctual Plans are More Easily Financed

The sooner you can lease the space or open for business, the faster the lender can get paid. Choosing a commercial construction team with a track record of on-time delivery and developing an airtight schedule is not just preferable — it’s financially wise in multiple ways.

Timing is Everything

Costs can vary by season. Some material costs can vary seasonally and randomly as well. Weigh the cost and rewards of finishing sooner versus waiting for a better time to build. Winter may not be the best time for commercial construction, but being flexible may be worth it.

Commercial ? Generic. Define the Scope

Office and retail spaces may seem generic until tenants move in, but the construction itself is always unique. If leasing, what materials, finishes, and features do you need to attract the tenants you expect? If building for your own company, what custom features will bring added value? Identify what you need, define the scope, and get key components in writing.

Master of None?

Some commercial construction firms will claim they can build any type of structure, but variety often means less expertise. And if you find a giant contractor who really does handle all types of commercial projects, how dedicated can they really be to your project? If you need LEED certification for a mixed-use building that melds with the local neighborhood’s architecture, you need a local builder who can (and already has) succeeded on projects just like that.

Organizing Your Team: Collaborate, Supervise, Confer

How many people will have input on your project? Investors, board members and other key personnel need to be in the loop from start to finish. Hold regular meetings about financing, feasibility, design, and project supervision.

Most importantly: know who will obtain licenses, approve change orders, and be the point-of-contact for the commercial construction manager. Disorganization can lead to various delays and possible overruns during the project.

Know What The Finish Line Looks Like

Commercial construction projects aren’t truly finished until the property is in use. Plan ahead for transitioning from construction to tenancy. Be prepared for post-construction cleanup and finishing touches. Discuss with your contractor how post-construction changes or additions can be handled.

If you’re ready to discuss your goals with a commercial construction contractor, we’re here to listen and get the ball rolling. McNeil Construction offers commercial services throughout the San Francisco area with an emphasis on value engineering, customer service, and specialty projects include LEED-certified construction.