About this experience
Put on a hard hat and walk an active mid-rise build with the developer who put the deal together. You will join the weekly owner-architect-contractor meeting and see how schedule slips and change orders turn into real dollars.
In the afternoon Michael opens up a sample pro forma and walks through how the land was bought, how construction debt and equity were raised, and what has to go right for the building to lease up on time. It is a rare look at the full life of a project in one day.
Your day
- 8:00 AM
Safety briefing and site walk
Get your PPE and tour the site floor by floor with the superintendent.
1 hr 30 min
- 9:30 AM
OAC meeting
Sit in on the weekly owner, architect and contractor meeting and see how issues get resolved.
2 hr
- 11:30 AM
Land site visit
Drive to a parcel under contract and talk through zoning, access and what makes a site work.
1 hr
- 12:30 PM
Lunch
Informal lunch with Michael and a member of his development team.
1 hr
- 1:30 PM
Pro forma workshop
Walk through a sample deal model: land cost, hard and soft costs, debt, equity and returns.
What’s included
- Hard hat, safety vest and glasses
- Lunch
- Sample development pro forma (spreadsheet) to keep
- Transportation between sites
Good to know
- Closed-toe boots or sturdy work shoes are required on site; no shorts or sandals.
- Guests stay with the host or superintendent at all times and follow site safety rules.
- Heavy rain can move the site walk; the rest of the day runs as planned.
Your curator
Michael Reyes15 years in multifamily and mixed-use developmentMichael Reyes began in commercial lending before developing his first fourplex in 2011. His firm now builds mid-rise multifamily and mixed-use projects across the Houston area. He spends most mornings on site and most afternoons with lenders and equity partners.
View Michael’s profile
