Time is money to any good developer or development manager.
It’s expensive when projects run over time or they don’t start on time. Every month that goes by, you’re paying interest costs, you’re running overheads for the business, you’re paying more for consultancy costs, etc. It all adds up so being really prudent with your time is very important.
I have a few basic rules that I follow on any project. Once I’ve made a decision on what I’d like to do for a project, I believe that anyone can lodge a DA within 3 months for a project. Then, depending on what sort of DA you’ve gone for, it’s very important to take a view: am I going to the easiest path with my development approval with council and have it code assessable (which means you’re doing broadly what you’re allowed to do) or am I going to go impact. If you are going to push it and go for impact, which means you’re outside the boundaries of what’s really allowed, there is a time implication on that, but on the flip side, if there is a time implication, make sure that you’re getting additional yield and the project is going to be more profitable.
One of the great things about the approval stage with council, that’s when you need to be shoring up your delivery team once the approval is granted. Be it your finance consultant to make sure that they’re on board with what you’re trying to achieve, be it your builder, or be it your consultants who are going to be doing your building approval -it’s important to assemble that team at that point in time. When you’re doing a development approval through council, there is a bit of load time where you’re not answering any questions so there’s plenty of time to get that team together. I believe that as soon as the development approval is granted, that’s basically day 1 as to when you need to get into action and it moves from being in the council’s hands into your hands.
When you’re dealing with people like us who are there to assist you with your solution, we like to present them to you as best we can to make fast decisions and move on, because it’s all about getting that project finished.
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Contact Keiran Foster
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