Real Estate Development
FAUL’s real estate development experience comes from a strong understanding of design, construction, land use and finance. Our development team includes engineers and project managers who have worked on a range of building types and scales, including extensive building restoration, new construction, building system upgrades and tenant improvements. We have managed projects for clients in the office, industrial, residential, retail and academic sectors. This collective experience allows us to effectively move projects from the early phases of programming to final delivery, balancing multiple goals and always remaining nimble to the complexities inherent in the development process.
We work to build strong consultant teams whose primary interest is to serve the needs of our client, and guide the design and construction process so that it best meets established project goals and a confirmed building program. We rely on regularly scheduled meetings and straightforward communication to inform clients of the schedule and budget parameters of each project decision, and regularly keep external stakeholders engaged and informed as part of a thoughtful and sincere public relations strategy.
Each individual building project (and its phases) has distinct needs and attributes that require a carefully considered team of consultants. FAUL’s knowledge and experience working with a number of firms from the Northwest’s design and engineering community allows for informed decisions with respect to firm selection and individual team member assignments. We look to guide our clients through the consultant team selection process, so they are well informed of each consultant’s scope of work, the role of each team member, and the associated cost of services.
We believe in an integrated design approach, and facilitate the early involvement of key consultants (e.g. structural, civil, MEP) in establishing the design direction with the project architect and Owner. We also recommend the early involvement of a general contractor for pre-construction cost estimating and further constructability review. Over the course of the development project, we carefully monitor all project costs and use a concise financial reporting system to communicate monthly progress and expenditures to our Investors.
When establishing FAUL, we made a conscious decision not to label ourselves as a ‘green developer’ given the lack of shared meaning associated with what we consider an overused term. Instead, we sought to chart a course towards performance-based design, where projects were ultimately evaluated on how well they served the communities in which they were located, and how well they performed in a broader environmental context. We use this ‘lens’ to maximize performance goals with respect to good urban design, reductions in energy use and long-term operating costs, creation of a healthy environment for building occupants through material selection and procurement, and innovations that will further the Northwest’s leadership in the green building field. We utilize different strategies for each building project based on location and budget, as well as the increase in knowledge gained from each successive project. FAUL’s project management team leads the construction process, from early site work to interior improvements and closeout. We maintain a commitment to quality, durability, waste reduction, and risk reduction. With considerable knowledge of the construction process, we are able to carefully assess and manage both schedule and budget while providing feedback and guidance to the contractor team. We carefully administer (and work to minimize!) the change order process, evaluating all costs for accuracy and fairness. To date, all of our projects have been within easy reach of our home office so that we can monitor progress and readily make time-sensitive decisions.
With an eye to quality, we carefully manage and engage the Owner in the punch list process, and provide a smooth transition from Certificate of Occupancy to building operations. Throughout construction, we are familiar with the need and opportunity to expose the building process to donors, partners and future occupants – to build knowledge in the process and instill both a sense of pride and ownership.