Services

At Risk Development

Mira will generally have some level of its own equity invested in each project. The amount of this at risk equity is dependant on the size the project and/or the product type. In addition, we maintain a strong working relationship with a number of real estate equity investment firms. As such, the “typical” Mira project involves a joint venture partnership with an equity firm, in which Mira serves as the Development Manager for the project with accordance with a project specific development agreement.

Drawing on the experience of the firm’s Principals, who collectively demonstrate over $750 million in related Real Estate development, construction or environmental remediation experience, Mira is well equipped to take an at risk development project from inception to completion. This experience is particularly critical for an urban re-development project, which can harbor a host of hidden risks ranging from complicated entitlement issues to significant subsurface conditions such as environmental contamination and utilities.

At Mira, we implement a hands on approach for all our projects. As the Development Manager, we carefully control every aspect of the process to ensure the development team is fully coordinated and never loses focus on the key elements of a successful project: budget, schedule, and marketable design. However, even with comprehensive, front-end programming, Real Estate development is dynamic, so we constantly evaluate the project with respect to the baseline conditions. By having timely and relevant project data, we are better able to recognize and implement any necessary program modifications in a timely and cost effective manner.