Waterfront Residential Tower
Developer-side schedule and cost oversight on a tower financed against a fixed completion date.
- Owner
- Confidential
- Location
- U.S.
- Market
- Multifamily
- Our role
- Owner’s representation
- Scale
- 380 units
- Completed
- 2025
Developer-side schedule and cost oversight on a 38-story tower financed against a lender-approved completion date.
The construction loan carried a completion date and a cost-to-complete test the lender checked every month. A slipping facade package or a cost overrun could put the loan out of balance. The developer needed independent eyes on the contractor’s schedule and pay applications, and a forecast it could put in front of the lender with confidence.
The approach.
- 01
Independent schedule reviews
We reviewed each monthly schedule update for logic changes, float erosion and optimistic durations on the facade and elevators.
- 02
Pay applications checked
Every pay application was checked against measured progress before the developer signed it.
- 03
Cost to complete, every month
A monthly cost-to-complete forecast kept the loan in balance and gave the lender’s inspector a clean reconciliation.
- 04
Early warning on the facade
A tracker for facade fabrication and installation flagged a six-week slip early enough to resequence interior work.
The outcome.
“The lender cares about one number: cost to complete. We made sure the developer always knew it before the lender asked.”
Owner’s representative, 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.