How owner-side feasibility and budget review helped a 48-unit multifamily project break ground on schedule, control civil costs, and avoid construction equity calls.
Infill multifamily projects carry cost and schedule risks before vertical construction begins. Civil scope, utility coordination, site constraints, and incomplete assumptions can create early overruns that consume contingency before the building is out of the ground. The development team needed a realistic budget and a clear path to groundbreaking.
Epex Consulting reviewed feasibility and the development budget from the owner’s perspective. The work focused on the assumptions most likely to affect civil cost, project readiness, contingency, and the amount of equity required during construction.
We tested whether the proposed scope, sequence, and cost assumptions supported a practical route to construction.
We separated site and civil assumptions from the broader building budget so the team could see where early cost exposure was concentrated.
We aligned contingency with identifiable project risks instead of treating it as an undifferentiated percentage.
We organized the information needed to resolve budget and readiness questions before they delayed groundbreaking or required additional capital.
A development can appear feasible on a high-level model and still fail when civil, utility, escalation, or sequencing assumptions reach the field. Owner-side review connects the financial model to the actual work that must be bought and built. That connection gives developers and investors a clearer view of downside risk before capital is committed.
Epex reviews major hard-cost categories, allowances, civil and utility scope, soft-cost interfaces, contingency, escalation assumptions, and gaps between the development model and available project documents.
Before land or major design commitments when possible, and again as the drawings and contractor pricing become more detailed. Feasibility should improve as the project definition improves.
Yes. Contractor pricing is an important input, but owner-side review tests completeness, assumptions, exclusions, and alignment with the development model.
Bring the development model, current drawings, and contractor budget. We will identify the assumptions most likely to affect capital and schedule.
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