Mixed-Income Housing Program
Cost and draw controls for a housing program with five funders and one shared schedule.
- Owner
- Confidential
- Location
- U.S.
- Market
- Affordable & Mixed-Income Housing
- Our role
- Cost management
- Scale
- 280 homes
- Completed
- 2024
Cost and draw controls for a layered-finance housing program with five funders and one shared schedule.
The program was funded by tax credits, a state housing agency, city funds, a construction lender and a foundation grant. Each funder had its own budget categories, draw process and inspection rules. One late or rejected draw could stall payments to the contractor and slow the whole program. The developer was reconciling it all by hand.
The approach.
- 01
One budget, five views
We created a single cost structure that mapped every line to each funder’s budget categories automatically.
- 02
Draws prepared to each rulebook
Monthly draw packages were assembled to each funder’s requirements, with progress backed by the schedule.
- 03
Cost forecast with funding gaps
The monthly EAC showed cost by funding source, so gaps were spotted months before they reached the lender.
- 04
Change orders priced first
Every change was independently priced and its funding source agreed before it was approved.
The outcome.
“Five funders means five sets of rules and one shared schedule. We kept the money moving so the homes kept moving.”
Cost management lead, KonradBeck
Planning something like this?
Share the program, the budget and the date that matters. A senior controls lead will tell you where the risk sits and how we would bring it under control.