Our Process

FullCry Development Company

Development Services

FCDC will be responsible for the daily operation of all development activities. This will include managerial oversight of the business operations, accounting and reporting functions, as well as corporate governance and asset protection. FCDC will employ various entities related to the principals, including Full Cry Development Company, LLC (FCDC) and its affiliates. These duties will include project management, sales and leasing, and property management. In addition, FCDC will provide services including but not limited to:

Due diligence services
Peer review and feasibility studies — supply and demand, needs and demands
Pro-forma analysis
Continued study of market conditions, additional market opportunities, and changes in community attitudes
Compliance monitoring, return tracking, and adherence to objectives and strategy
Cash flow management, projections, and the allocation of gains or losses
Administration of capital calls and distributions
Reporting — quarterly financial statements, project management schedules, updated market reports, and project narratives

The real estate development process is the compilation of ideas and the coming together of people for the purpose of creating positive outcomes within the community. This includes the creation of economic opportunity, value, and employment. The development process is a coordinated effort with set tasks across multiple disciplines. However, the process is complex and rarely linear. It includes the public and private sectors, community groups, and the developer. The complete FCDC team includes:

Our customers
Our investors
Community groups
Governmental agencies
Appraisers
Land planners
Civil engineers
Architects
Landscape architects
Environmental engineers
Transportation and traffic engineers
General contractors
Finance consultants
Marketing personnel
Attorneys

Our team of professionals is involved in a multi-layer process made up of distinct phases. While there is no set recipe or linear task schedule, the following phases illustrate our process and how we achieve success. We start with idea inception, which includes understanding our market, initial economic analysis, and preliminary risk evaluation. We then consider available land options, with careful consideration of macro and micro market conditions, the physical nature of the site, and the legal and political climates. We then analyze the project’s feasibility, including preliminary site design, formulation of the development timeline, and refinement of our economic model. At this point we also finalize consultant selection and begin our analysis of financing options. As the project begins construction, we secure our investment with weekly project meetings and schedule updates. Concurrently with all of these efforts is our project marketing. Broker relationships and contact with potential buyers or tenants are essential to a successful project.

Idea Inception

As developers, with an extensive understanding of current market conditions, we review various ideas. We identify a need in our community and set forth not only to leave our community a better place to live but also to maximize economic advantages for our partners and investors. The important elements of this phase include a thorough understanding of the market, the ability to understand financial modeling, and the depth of experience to evaluate the risks. Open discussions with our project teams, including our consultants, members of our communities, and public officials, enable us to identify current needs in our markets.

Market Knowledge

Each market has unique and distinct characteristics. Extrapolating needs, rents, values, and even cultures from one area to another could potentially doom a project from the outset. Our diverse background in the real estate industry has given our company a unique perspective on the Treasure Coast markets we operate within.

Initial Economic Analysis

During Phase I a preliminary economic analysis is compiled. This "back of the napkin" approach provides our professionals with a quick understanding of what the potential economic advantages may be. This is an essential element in our ability to perform initial risk evaluation. We have developed extensive proprietary economic models which continue to evolve to better understand key indicators.

Preliminary Risk Evaluation

With a conservative nature we do not take any unnecessary risks. Our Phase I process is a pragmatic approach with specific attention to the risk-reward relationship. The depth of our market experience combined with our background in financial analysis provides us with a unique advantage to accurately and quickly evaluate any potential pitfalls within our developments.

Site Selection

A key to the success of any development is the efficient use and acquisition of land assets. Consideration of market and economic conditions, land-use issues, and the political environment are all important elements of a successful site selection process. FCDC senior principal has been involved in land and site acquisition for more than 30 years.

Market Conditions

During site selection we take a more extensive look at the market. We re-examine the market’s needs, rents, and asset values. We refine our market analysis by adding additional areas of research and analysis including:

Understanding our competition
Supply and demand
Environmental factors
Further refinement of economic models

Physical & Land Attributes

In order to properly evaluate the value of a potential site, the first task is to understand the buildable square footage or floor-to-area ratio. Quite often unsophisticated sellers rely too heavily on allowable zoning rights without taking into consideration the physical limitations of a site. Developers must price land based on buildable areas. Other important characteristics include the availability of sewer and water, soil compaction, and the presence or absence of environmental hazards.

Legal Attributes

The legal issues facing the site evaluation may be the most important area of study for any developer. Zoning and land use are the laws and ordinances that govern a site’s ability to be developed. Density allowed on a site has direct correlation to its value. As the developer you must fully analyze the physical limitations to any site. Zoning and land use in themselves may be limited by the site size, shape, and configuration

Political Environment

The ability to identify the political environment can be as much an art as it is a science. Often tremendous value can be added by a developer in recognizing property not appropriately zoned for current market conditions. This rezoning can be a difficult and costly process. The inability to properly read the political environment and a community’s willingness to change land uses can be a costly mistake.

Project Feasibility and Refinement

During the project feasibility phase a number of very important areas are investigated. First, a thorough analysis of both the macro and micro market conditions is performed. Second, preliminary cost and income projections are assembled together with a preliminary development schedule. This financial projection compares the estimated future value and cash flows of the development with cost estimates. Through this process, legal and physical feasibility are also studied.

Market Study

By this stage discussions on market conditions have been ongoing. Now we are ready to narrow our focus to our particular development. Peer-group studies are performed and rents and/or sales prices are noted and tracked. Product absorption is analyzed and recorded. All of this information will be used in the project development plan and financial analysis.

Initial Site Design

Multiple site plans are commissioned and alternatives are investigated and correlated to land use and physical characteristics. Careful consideration is given by the entire team to design a project that will meet the current needs in the market. Preliminary elevations and floor plans should be produced and evaluated.

Refinement of Economic Analysis

We utilize extensive financial modeling. At this point of the project we further refine our model for current conditions. We finalize our budgets and projections and prepare for the operational phase of the development.

Contract & Financing Negotiation

Should the feasibility phase warrant continued involvement in the development, the next step in our process is to finalize contract negotiations for the acquisition of the land and to execute negotiated financing and consultant agreements. Our final team is in place and ready to begin work.

Project Marketing

Every project has a marketing manager: someone who oversees the overall marketing effort. Simultaneously with the start of construction, our marketing effort is in full force. The brokerage community and our relationship with them is a key ingredient to the success of the development. Tenant or buyer prospecting in and around the development is an ongoing process. Cold calling, email outreach, project brochures, and broker events are all tools used to ensure the marketing success of the property.

Construction

During the construction phase of the project our project manager will take the lead on managing the day-to-day activities of building the project. Weekly meetings on progress and schedule incorporate the entire development team. Participants at this meeting include engineers, architects, marketing managers, and the general contractor. This is a critical phase of the development process, and particular attention is paid to protect our investment and future revenues.

Selection of Consultants

The selection of a team of consultants is critical to a successful project. Many attributes will be considered and applied to select the right team for the venture. These attributes include:

A verifiable record that the consultant has executed similar projects in the past
A stable management team
Stable project teams with principal involvement and management
The ability to adapt to changes in the market
Proven ability to deliver uniform results — including plan preparation and approvals
Track record of relationships with the appropriate governmental authorities
Willingness to adhere to FCDC investment principles and ethics
Sound capital structures and a proven going concern

To receive more information or discuss specific opportunities with us please email by clicking the button below

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Stewart Pearlman

954.224.3087

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Development Track Record

Our impressive development track record showcases a variety of successful projects, reflecting our commitment to innovative design and strong returns on investment.

Client-Centric Approach

We believe in fostering strong relationships with our clients and partners, ensuring that every project aligns with their vision and investment goals through collaboration and transparency.

Proven Execution

With extensive hands-on experience in real estate development, we combine financial governance with execution capability, ensuring that every project is delivered on time and within budget.