Frequently Asked Questions
General questions
The earlier that we are brought into the process, the more value we can bring to the table. Regardless of how far along a project is, we can always deliver valuable advice and leadership. With a high quality project management team on board, potential problems can be identified and averted, such as work scope definition, budget allocation, building material selection and work schedule coordination.
SCGWest involves you and your team every step of the way. Weekly conference calls, status reports, task items, document collection and detailed close out packets.
You can terminate at any contract milestone or phase completion.
Our Integrated Project Delivery Contract is structured in multiple phases and can be structured to be executed at milestones throughout the process.
Some Franchisors have already completed program standardization and are capable of creating construction documents internally and have a full construction management staff (typically companies with 500+ locations). If this is the case, we are still able to add value and complement their processes. We can offer a tailored version of our turn key project approach if necessary.
We have a fully assembled team that takes care of architecture, construction, and project construction management team on board at SCGWest.
While the eligibility criteria may entirely depend on the lender’s discretion regarding specific requirements, there are certain standard criteria followed by lenders (650+). For instance, the credit score requirements are generally the same among all lenders. Another non-negotiable aspect is the collateral required for the loan. The lean is of utmost importance and is the security that protects the interest of the lender. Hence, lenders asses the property’s value, both in terms of the present value and the projected future value. The borrower/property’s income – generating ability is taking into consideration, as that will ensure that the borrower is in a position to clear the debt as per agreed terms.
No. Bridge loans are short term loans with the maximum period typically capped at 18 months. Most investors plan to repay the loan in a shorter period and never plan to extend a bridge loan.
Refinancing is a possible way of meeting the payment schedule of bridge loans. Due to the short tenure of bridge loans and the relatively higher interest rates, the best way to exit a bridge loan is the availing refinancing. However, most investors and developers look at bridge loans only when options are at hand to repay the bridge loans before the end of tenure. Refinancing can be considerd when the fund inflow is not on expected timelines.
It typically takes anywhere between three to five weeks to disburse the bridge loan amount from applying for one. This depends on the size of the location and the various parameters associated with the loan.
Borrowers don’t need to show proof of income for commercial bridge loans. However, it would help prove that the borrower has a credible source of funds for repaying the loan amount. The mandatory requirement is a clear exit strategy – a plan that shows how the amount will be refunded. Lenders extend bridge loans only when there is a clear plan of repayment.
The ballpark for costs involved in providing bridge loans includes origination fees between 1 to 6 percent, with interest rates typically between 6 to 10 percent. The amortization is interest repayment only until full repayment, closing costs between 2 to 4 percent of the loan amount.
Program management
When selecting a program manager for your project, some key considerations include:
- The program manager’s experience and track record
- The program manager’s ability to meet
To evaluate potential program managers for your project, you should:
- Review the program manager’s portfolio and track record
- Obtain references from other clients and visit projects the program manager has worked on
- Meet with the program manager to discuss your project and assess their fit for your project
- Negotiate a contract that clearly outlines the program manager’s responsibilities and expectations
To work effectively with a program manager to ensure that your project stays on track and within budget, you should:
- Clearly communicate your project goals and expectations
- Regularly review progress and provide feedback to the program manager
- Address any issues or changes that arise in a timely manner
- Monitor expenses and stay within budget
The key responsibilities of a program manager typically include:
- Overseeing the planning and execution of the program
- Managing the budget and schedule for the project
- Coordinating communication and collaboration between all parties involved in the program
- Ensuring that the program meets all necessary safety, zoning, and building code requirements
- Handling any issues or changes that arise during the program management process
If issues or changes arise during the program management process, it’s important to communicate with your program manager and identify any potential solutions. You may also need to negotiate any necessary changes to the project schedule or budget.
When selecting a program and construction management team for your project, some key considerations include:
- The team’s experience and track record
- The team’s reputation and references from other clients
- The team’s ability to meet your project’s timeline and budget
- The team’s availability and flexibility
To evaluate potential program and construction management teams for your project, you should:
- Review the team’s portfolio and track record
- Obtain references from other clients and visit projects the team has worked on
- Meet with the team to discuss your project and assess their fit for your project
- Negotiate a contract that clearly outlines the team’s responsibilities and expectations
To work effectively with a program and construction management team to ensure that your project stays on track and within budget, you should:
- Clearly communicate your project goals and expectations
- Regularly review progress and provide feedback to the team
- Address any issues or changes that arise in a timely manner
- Monitor expenses and stay within budget
When selecting a construction team for your project, some key considerations include:
- The team’s experience and track record
- The team’s reputation and references from other clients
- The team’s ability to meet your project’s timeline and budget
- The team’s availability and flexibility
To evaluate potential construction teams for your project, you should:
- Review the team’s portfolio and track record
- Obtain references from other clients and visit projects the team has completed
- Meet with the team to discuss your project and assess their fit for your project
- Negotiate a contract that clearly outlines the team’s responsibilities and expectations.
Design-build
When selecting a design and construction team for your project, some key considerations include:
- The team’s experience and track record
- The team’s reputation and references from other clients
- The team’s ability to meet your project’s timeline and budget
- The team’s availability and flexibility
To evaluate potential design and construction teams for your project, you should:
- Review the team’s portfolio and track record
- Obtain references from other clients and visit projects the team has completed
- Meet with the team to discuss your project and assess their fit for your project
- Negotiate a contract that clearly outlines the team’s responsibilities and expectations.
To work effectively with a design and construction team to ensure that your project stays on track and within budget, you should:
- Clearly communicate your project goals and expectations
- Regularly review progress and provide feedback to the team
- Address any issues or changes that arise in a timely manner
- Monitor expenses and stay within budget
The key responsibilities of a design and construction team typically include:
- Designing the space according to your vision and goals
- Coordinating the construction process, including hiring subcontractors and suppliers
- Managing the budget and schedule for the project
- Ensuring that the project meets all necessary safety, zoning, and building code requirements
- Handling any issues or changes that arise during the design and construction process
If issues or changes arise during the design and construction process, it’s important to communicate with your design and construction team and identify any potential solutions. You may also need to negotiate any necessary changes to the project schedule or budget.
To ensure that your project meets all necessary safety, zoning, and building code requirements, you’ll need to research the specific regulations that apply to your project and work with your design and construction team to incorporate them into the design and construction process. You may also need to obtain necessary permits and approvals from local authorities.
There are several steps you can take to minimize risk during the design and construction process, including:
- Clearly communicating your project goals and expectations to the design and construction team
- Carefully reviewing and negotiating contracts with subcontractors and suppliers
- Obtaining necessary permits and approvals
- Regularly monitoring progress and addressing any issues that arise in a timely manner
- Having a contingency plan in place in case of unexpected delays or issues
Commercial development
A build to suit lease, in simplest terms, is an agreement between a landlord/developer to build a commercial building that meets specific tenant requirements. The build to suit process entails all the steps necessary to select, acquire, finance, and lease a property on which the landlord/developer constructs a custom building for the tenant.
Generally, the landlord/developer owns the land and the building built on that property or will acquire land designated by the tenant. The tenant will in turn lease the to-be-constructed building from the landlord/developer.
The process for developing a new restaurant, retail store, or medical office space typically involves several key steps, including: identifying and securing a suitable location; developing a project plan and budget; securing financing; selecting a design and construction team; and managing the design and construction process to ensure that the project stays on track and within budget.
When selecting a location for your business, it’s important to consider factors such as the local market, the availability of parking and public transportation, the zoning regulations of the area, and the proximity to other businesses and amenities. You may also want to consider factors such as the demographics of the area and the traffic patterns in the surrounding area.
There are a variety of financing options available for development projects, including traditional loans from banks or other lenders, grants and incentives from government agencies, and alternative financing options such as crowdfunding or venture capital. To secure financing, you’ll typically need to provide financial information such as your credit history, business plan, and projected financials, and you may also need to provide collateral or a personal guarantee.
When selecting a construction team for your project, it’s important to consider factors such as the team’s experience, reputation, and track record. You should also consider the team’s availability and their ability to meet your project’s timeline and budget. It’s a good idea to get references from other clients and to visit projects the team has completed to get a sense of their work.
There are several key steps you can take to manage the construction process effectively, including: setting clear project goals and objectives; developing a project schedule and budget; establishing clear lines of communication with your construction team; and monitoring progress and addressing any issues that arise in a timely manner. You may also want to consider hiring a construction manager to oversee the process on your behalf.
There are several key considerations when designing a restaurant, retail store, or medical office space, including: the layout and flow of the space; the materials and finishes used; the lighting and electrical systems; the plumbing and HVAC systems; and the accessibility and safety of the space. It’s also important to consider the overall aesthetic and branding of the space, as well as any specific requirements or regulations that may apply.
To ensure that your development project meets all necessary zoning and building code requirements, you’ll need to research the specific regulations that apply.
If changes to the project scope or schedule are necessary during the construction process, it’s important to communicate these changes to all relevant parties as soon as possible. You’ll also need to assess the impact of the changes on the project timeline and budget, and negotiate any necessary changes to the contract with the construction team.
When selecting materials and finishes for your project, it’s important to consider factors such as durability, maintenance requirements, sustainability, and cost. You’ll also want to consider the overall aesthetic of the materials and how they will fit with the overall design of the space.
If delays or other issues arise during construction, it’s important to communicate with your construction team and identify any potential solutions. You may also need to negotiate any necessary changes to the project schedule or budget.
To ensure that your project is completed on time and on budget, you should:
- Clearly communicate your project goals and timeline to your construction team
- Monitor progress regularly and address any issues or changes that arise in a timely manner
- Stay within budget by monitoring expenses and making any necessary adjustments
- Consider hiring a project manager or construction manager to oversee the project and ensure that it stays on track
- Have a contingency plan in place in case of unexpected delays or issues.
There are several steps you can take to minimize risk during the construction process, including:
- Clearly communicating your project goals and expectations to the construction team
- Carefully reviewing and negotiating contracts with subcontractors and suppliers
- Obtaining necessary permits and approvals
- Regularly monitoring progress and addressing any issues that arise in a timely manner
- Having a contingency plan in place in case of unexpected delays or issues
When developing a site plan for your project, there are several key considerations to keep in mind, including:
- The layout and flow of the space
- The location of utilities and services
- Zoning and building code requirements
- The surrounding landscape and environment
- Accessibility and parking
To ensure that the design process meets your business needs and goals, you should:
- Clearly communicate your vision and goals for the project to the design team
- Regularly review and provide feedback on design concepts and drafts
- Work with the design team to address any issues or changes that arise during the design process
- Review and approve final design documents before construction begins
When choosing construction materials for your project, it’s important to consider factors such as:
- Durability and maintenance requirements
- Sustainability and environmental impact
- Cost and availability
- Aesthetic and design considerations
- Compatibility with other materials and systems
If changes to the project scope or schedule are necessary during the design process, it’s important to communicate these changes to all relevant parties as soon as possible. You’ll also need to assess the impact of the changes on the project timeline and budget, and negotiate any necessary changes to the contract with the design team.
To ensure that your project meets all necessary zoning and building code requirements, you’ll need to research the specific regulations that apply to your project and work with your design team to incorporate them into the design. You may also need to obtain necessary permits and approvals from local authorities.
There are several steps you can take to minimize risk during the design process, including:
- Clearly communicating your project goals and expectations to the design team
- Carefully reviewing and negotiating contracts with design
When selecting a construction manager for your project, some key considerations include:
- The construction manager’s experience and track record
- The construction manager’s ability to meet your project’s timeline and budget
- The construction manager’s reputation and references from other clients
- The construction manager’s availability and flexibility
To evaluate potential construction managers for your project, you should:
- Review the construction manager’s portfolio and track record
- Obtain references from other clients and visit projects the construction manager has completed
- Meet with the construction manager to discuss your project and assess their fit for your project
- Negotiate a contract that clearly outlines the construction manager’s responsibilities and expectations
To work effectively with a construction manager to ensure that your project stays on track and within budget, you should:
- Clearly communicate your project goals and expectations
- Regularly review progress and provide feedback to the construction manager
- Address any issues or changes that arise in a timely manner
- Monitor expenses and stay within budget
The key responsibilities of a construction manager typically include:
- Overseeing the planning and execution of the construction process
- Managing the budget and schedule for the project
- Coordinating communication and collaboration between all parties involved in the project
- Negotiating contracts with subcontractors and suppliers
- Ensuring that the project meets all necessary safety, zoning, and building code requirements
- Handling any issues or changes that arise during the construction process
If issues or changes arise during the construction process, it’s important to communicate with your construction team and identify any potential solutions. You may also need to negotiate any necessary changes to the project schedule or budget.
Financing
There are a variety of financing options available for development projects, including traditional loans from banks or other lenders, grants and incentives from government agencies, and alternative financing options such as crowdfunding or venture capital. The best financing option for your project will depend on your specific needs and circumstances.
To choose the right financing option for your business, you should consider factors such as:
- The amount of funding you need
- The terms and conditions of the financing, including the interest rate and repayment schedule
- The collateral or other requirements of the financing
- The impact of the financing on your business’s financial statements and cash flow
When applying for financing, some key considerations include:
- Gathering the necessary financial information and documents, such as your credit history, business plan, and projected financials
- Research
To secure the necessary permits for your project, you’ll need to research the specific requirements and regulations that apply to your project, and submit the necessary application materials to the appropriate authorities. You may also need to pay any required fees or meet other requirements.
When selecting a lender for your project, some key considerations include:
- The lender’s reputation and track record
- The terms and conditions of the financing, including the interest rate and repayment schedule
- The collateral or other requirements of the financing
- The impact of the financing on your business’s financial statements and cash flow
To evaluate potential lenders for your project, you should:
- Review the lender’s portfolio and track record
- Obtain references from other clients and assess their experience with the lender
- Meet with the lender to discuss your project and assess their fit for your project
- Negotiate the terms and conditions of the financing, including the interest rate and repayment schedule
To negotiate the terms of your financing agreement, you should:
- Clearly communicate your needs and expectations to the lender
- Understand the lender’s requirements and constraints
- Research the market to get a sense of the range of financing options available
- Consider hiring a financial advisor or lawyer
There are several steps you can take to minimize risk when financing your project, including:
- Carefully reviewing and negotiating the terms and conditions of the financing agreement
- Obtaining multiple quotes and offers from different lenders
- Ensuring that you have a solid business plan and financial projections
- Having a contingency plan in place in case of unexpected changes or issues
There are a variety of grants and incentives available for development projects, including:
- Federal grants and incentives, such as grants from the Small Business Administration or incentives from the Department of Housing and Urban Development
- State grants and incentives, such as grants from state economic development agencies or tax credits for businesses that meet certain criteria
- Local grants and incentives, such as grants from city or county governments or property tax abatements for businesses that meet certain criteria
To choose the right grants and incentives for your business, you should consider factors such as:
- The specific requirements and criteria of the grant or incentive
- The impact of the grant or incentive on your business’s financial statements and cash flow
- The availability and application process for the grant or incentive
- The likelihood of your business being approved for the grant or incentive
When applying for grants and incentives, some key considerations include:
- Gathering the necessary information and documents, such as your business plan, financial projections, and any required proof of eligibility
- Researching the specific requirements and criteria of the grant or incentive
- Following the application process and deadlines carefully
- Being prepared to provide additional information or documentation as needed
To minimize risk when applying for grants and incentives, you should:
- Carefully review the requirements and criteria of the grant or incentive
- Ensure that you have all necessary information and documentation before applying
- Follow the application process and deadlines carefully
- Consider hiring a grants specialist or lawyer to assist with the application process
Common oversights
Failing to do sufficient research and planning
It’s important to thoroughly research the design and construction process, as well as the specific requirements and regulations that apply to your project. Failing to do this can result in delays, unexpected costs, and other issues.
Underestimating the budget and timeline
It’s important to be realistic about the budget and timeline for your project, and to allow for contingencies in case of unexpected delays or issues. Failing to do this can result in a project that takes longer and costs more than expected.
Not hiring the right team
It’s important to carefully evaluate potential design and construction teams and choose one that has the experience and expertise to complete your project on time and on budget. Hiring a team that is not a good fit can result in delays and other issues.
Poor communication
Effective communication is crucial during the design and construction process. Failing to communicate clearly with your team or not addressing issues or changes in a timely manner can result in delays and other issues.
No contingency plan
It’s important to have a contingency plan in place in case of unexpected delays or issues during the design and construction process. Failing to do this can result in a project that takes longer and costs more than expected.
We turn your vision
into a reality
The key strength of SCGWest is the quality of the individual team members and the ability to form a team perfectly suited to any project with knowledge, competency, and experience unrivaled by our competitors.
