From the course: Construction Loan-in-Process

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When things go wrong: Strategy

When things go wrong: Strategy

From the course: Construction Loan-in-Process

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When things go wrong: Strategy

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- [Instructor] What are some of the considerations that all of the key stakeholders may need to assess in order to decide the best course of action and whether the project can still be viable in some form? Examples include: what kind of pre-sales or pre-leasing has already taken place, and to what extent could legal action ensue if the project does not deliver? What are the costs to complete the project? What is a reasonable timeline to complete and sell or lease-up? What is the profit potential? Do you want to salvage the developer or the project? Could you move the project to a new project entity that has better resources and/or expertise? For example, a new equity partner or a new developer with stronger financial backing and better development expertise. What is the market for this project? Do we understand if the problem is market-based, cost-based, or a design that's too expensive for the market? Is it a condominium project, but would be better suited as a rental project? In…

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