The most important step of evaluating a project is determining if the conditions support the concept. Before getting deep into the thick of things, CR Builders ensures whether the idea will be feasible, or if there’s an alternative strategy better suited for the project.

Our team draws on decades of development experience in both the affordable and market rate spaces while utilizing robust financial models and evaluation metrics to shepherd a project from concept to completion.

Once a project has been determined to be feasible, there is still a question that remains. Will this project be financially viable in the long term? 

CR Builders has been a part of more than 60 LIHTC projects. This background has helped us accumulate data to project the success of apartment complexes or other housing units. By considering the costs to develop, interest rates, operating expenses, and financing costs, we put together a model to ensure a project's next 15 years of operations is achievable.

When the project is feasible, and the financial model is viable, this is where the rubber hits the road.

CR Builders has a strong team, each member with a specialization and years of experience. When the project is ready to move from an idea, we help take it to concept, to paper, and ultimately to reality.

Our team works to identify funding sources (HOME, HTF, AHP), and works through the closing process with the tax credit syndicator to convert the LIHTCs to equity – we ensure that paperwork and funding applications are done correctly so things aren't stalled in the process, leaving the project in limbo.

Lenders, investors, banks, and Housing Finance Agencies are coordinated while architects create the plans. General contractors collaborate on the construction drawings, advice is sought from legal counsel, and the project manager shepherds the teams to make sure the project is on time, on budget, and placed in service.

From when the general contractor receives the construction drawings and plans to when the ribbon is cut, and the building is opened to new tenants, CR Builders offers expert guidance.

Team members from CR Builders have dedicated their careers to development. They know what works, what doesn't, and when strategies need to be adjusted. The Construction Team at CR Builders closely monitors the progress of each development and works collaboratively with the GC and architect from start to finish. In any situation encountered, our experts know how to come up with great solutions and provide constructive answers.

Vacant land isn't always ready for any project. In some cases, the municipality must be petitioned to allow re-zoning so multi-family units can be built on the lot.

Guidance through this bit of bureaucracy is where we shine. There are numerous necessary local approvals to even break ground, and we make sure that the land is zoned correctly, drawings go through planning and review, and the building permit is acquired.