It begins with a great notion. It may be an idea to add a hotel, expand a casino or to build an entirely new development where nothing exists. This incubatory stage is the right time to call upon Innovation Project Development.
Work begins with the study of the project’s feasibility to determine if the idea can generate enough activity to generate a profit. If it gets the green light, IPD can then develop a program that helps the owner understand the scope and the order of magnitude cost. From there, building plans need to be created that incorporate all components of the project. Site plans must be mapped out to determine how each element fits the property and facilitates access for vehicles, pedestrians, employees, deliveries and the like. Amenities need to be evaluated for their feasibility, too, and integrated into the plan in ways that logistically make the most sense. Budgeting processes must be initiated to make certain that the vision that began the process is achieved. Functioning as an owner’s representative, Innovation Project Development begins here to manage your project every step of the way.
As an independent source of objective information and analysis, Innovation Project Development analyses and monitors relevant aspects of proposed and in-process developments to minimize risk and maximize return for lending and investment clients in the gaming and high-end hospitality domains.
We provide dependable due diligence research and reviews of development packages under consideration, assistance in drafting contracts, disbursement agreements and other closing documents, and we perform periodic on-site progress and draw package reviews to certify compliance with all financial requirements. Monthly reports alert all parties to any potential issues so that they are addressed before they can grow into problems.
During the design and construction phases of the process, when the majority of expenditures are occurring, the involvement of Innovation Project Development is invaluable. We manage the construction cost estimate and oversee budgets for the entire project based upon the final design submission or completed documents, and we constantly monitor the progress of the work against these benchmarks and against the construction schedule.
Daily on-site presence integrates our expertise into the efforts of the full delivery team. There are architects, engineers, special consultants and contractors to be coordinated and their work over-seen. Regular team meetings must be conducted and effective. Change orders need to be evaluated. Requisitions need to be reviewed. We make sure that all the team members fulfill their contractual obligations to the owner at all times and we assure that necessary information flows freely and honestly to all stakeholders.
Not only will the most current equipment and technology be evaluated, but the latest construction delivery techniques will be assessed as well. All options will be considered on a value-engineering basis in order to provide the best product for the budget.
From the broadest objective to the tiniest detail, Innovation Project Development can review, evaluate and recommend the strongest development scopes and plans based on owner’s goals, local market conditions, trends and innovations, and present and projected competitive environments.
For lenders and investors removed from the day-to-day flow on a project, Innovation Project Development acts as a reliable conduit for information and assessment. Integrity is a platform on which all Innovation Group Companies have operated since their founding, and Innovation Project Development management and staff can be depended upon to put the best interests of the client first in all situations.