How to Keep Costs Down in Workforce Housing Development
One of the most important aspects of any successful real estate development is cost mitigation. But how do you manage this in the workforce housing development model?
In this video, Scott Choppin, CEO and Founder of Urban Pacific, answers that question.
From this video:
Scott: But I think fundamentally, we have 80 to 90 percent, always the base cost of past projects, past recent projects as a historical database for our bill costs. And these carry that forward now into our underwriting for new projects. Because we have the same housing type over and over again. We don't need to go out and get multiple new bids. Only would we if we have a certain trade that we do on a site that we never did before.
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