Development

Development

Procida's long-standing involvement in tri-state real estate has afforded a natural progression to our emergence as a premiere developer of quality properties throughout the region. Steady activity in changing markets has provided us with a unique ability to assemble first-class development teams that assess what type of development is most appropriate for a specific site and surrounding community, and how to deliver a project in the most cost-effective manner while maintaining quality and value for the buyer.

A hands-on approach and extensive knowledge of all legal aspects of development process transactions extends throughout our staff and project teams. From land acquisition to financing, management to oversight and supervision, Procida's professionals remain flexible and creative, constantly re-evaluating all available research to identify the most economically viable option that fits within each development project's objectives.

In the Preliminary Schematic Phase, Procida identifies a site and evaluates a preliminary direction or criteria for development potential, use, zoning, and construction. We then perform preliminary in-house financial analyses and market studies to assess the economic viability of the proposed intended use. Next, we identify an appropriate team of professionals and specialists for the project. With the design team in place, architectural feasibility studies are created and initial financial parameters are set.

During the Feasibility Phase, Procida’s development team further refines the criteria, direction, feasibility, and parameters established during the Preliminary Schematic Phase.

The Viability Phase allows Procida to further evaluate and refine all information at an even higher level of detail in order to more fully determine the project’s character. During this stage, the assumptions posited during the Preliminary Schematic Phase are confirmed and budgetary parameters are more well-defined. Throughout this Phase, Procida professionals bring their significant experience to bear on design, construction, and project development – formulating an optimal combination of investors and lenders, addressing legal issues, and finalizing deal and financing structuring.

Actual budgets are determined in the Design Phase. In addition, Procida secures project financing and finalizes or supplements project team members to include marketing consultants and other subcontracted design professionals.