Technical Property Services, Inc.
Services
Development Services
In today’s economic environment, investing in new development carries both opportunity and inherent risks. TPSi can assist a prospective joint venture partner or lender with the identification and analysis of risks associated with a development project – whether in the planning or pre-construction phase or mid-construction – by conducting a thorough investigation of all critical aspects of the project and by providing recommendations on how to mitigate these risks. TPSi provides due diligence research and evaluation prior to investment for all types of projects, including office, hotel, residential (both apartment and condominium), and mixed use projects.
Development and Construction Audits
TPSi’s comprehensive approach to Due Diligence includes the following services:

  • Review of all plans, specifications, reports, correspondence, and prior meeting minutes to ascertain progress, quality, and possible issues
  • Review of the capabilities of the development team and evaluation of current workload, personnel structure, relevant experience, and overall ability to formulate, design, and execute the construction of a project of the proposed scale and complexity
  • Review of all consultants’ proposals and contracts as well as any pre-construction agreements and construction contracts
  • Participation in initial meetings to determine the status of design, permitting, and overall team structure as proposed by the developer
  • Review of the development budget for feasibility and completeness
  • Analysis of construction budgets, comparisons, and pricing estimates and preparation of a detailed cost spreadsheet, including projected construction budget
  • Review of overall development and construction schedules
  • Review of and advise on any value-engineering and value-added opportunities
  • Review of available geotechnical and environmental information and provide comment on areas of concern

For projects already under construction, Due Diligence services also include:

  • Detailed review of current construction progress and inspection to confirm that work has been completed in conformance with approved plans and design intent
  • Review of pay applications, change orders, and proposed cost changes to ascertain if the projected balance to complete is sufficient to achieve the desired product
Development Assistance
The challenge of getting a project “out of the ground” and successfully completed requires a coordinated team effort and thorough planning through all stages of development. Months of construction may mean changing market conditions, unforeseen circumstances, and potential problems. To this end, TPSi offers development and construction monitoring services, which can be tailored to meet the investor’s specific requirements.

On-going owner/investor/lender representative services include:

  • Attendance at scheduled Owner/Architect/Contractor progress meetings
  • Monthly site review of construction for status, methods, and compliance to job and code criteria
  • Review of major variances with the Developer and Contractor and report on any that could have a substantial impact on the client or the project
  • Review of design documents that have been revised and advise client as to the impact the changes may have on value, cost, or time, and provide suggestions as to alternatives that may avoid cost and time increases
  • Review and provide observations and general recommendations for the advancement of funds via pay applications or draw requests
  • Review of all pertinent information that would be critical to the project’s success and viability. Report on any concerns that might represent a potential to degrade quality, delay the schedule, or increase the cost of the project.

Throughout the entire development process, beginning with Due Diligence through the successful completion of the project, TPSi is able to assist owners, investors, and lenders by delivering the professional services needed to achieve or improve the quality, budget, and schedule of the development project. TPSi offers the expertise and services that strengthen clients’ confidence in their real estate investments.
Project Management Services
TPSi offers project management services for a wide range of real estate projects:

- Base building construction
- Building renovations and expansions
- Systems replacement and retrofit
- Tenant buildout and relocation / expansion

We provide comprehensive services from the planning phase and pre-construction through construction and project closeout, as well as more limited services to meet a specific owner requirement.

As an independent representative for the owner, TPSi coordinates the project at a level well beyond what a general contractor can provide. We emphasize protecting the owner’s interests.
Planning Phase
By joining the client’s team at this initial phase, TPSi works with the client to identify and define the project requirements. Our staff’s extensive experience in the design and construction process offers our clients both technical expertise and broad knowledge of the entire real estate process.

The main focus of the planning phase is to establish the project requirements and begin selection and coordination of the various professionals involved in the project. This involves meeting with the client, architect, engineer, contractor, and other consultants; monitoring the preparation of drawings; and developing pricing formats and a project budget. TPSi offers the following services encompassed in this planning phase:

  • Product research
  • Prepare budgets
  • Review drawings
  • Value engineering
  • Negotiate and procure design condition survey
  • Municipal review and filings
  • Lease language review
  • Tenant allowance
  • Turn-key build-out
  • Prepare GSA unit pricing
  • GSA negotiations
  • Detailed project schedules
Pre-Construction Phase
The pre-construction phase focuses on the development of project pricing, construction schedules, and the bid process. TPSi’s knowledge and experience with the construction process allows us to work closely with the general contractor and project designer to orchestrate this phase. The on-going coordination of the entire project team – client, architects, engineers, and contractors – continues through this phase.

This pre-construction phase involves reviewing drawings to identify any items that may incur unexpected or additional expense. TPSi develops pricing for the client to establish landlord and tenant costs for building standard and above building standard. In addition, we monitor the general contractor’s bid process and check subcontractor proposals and invoices to minimize subcontractor buys. The specific services involved in this oversight of the pre-construction phase include:

  • Bid process
  • Determine bid format
  • Bid package and instructions
  • Create bid forms
  • Orchestrate bidding
  • Review and evaluate bids
  • Administer contracts
  • Building permits
  • Filing and cost estimate
  • Expedite jurisdiction responses
  • Secure occupancy permits
Construction Phase
The construction phase presents the greatest challenges to the project schedule and end product. Therefore, it is during this phase that the services of an independent project manager can be most beneficial to the client.

TPSi’s focus during the construction phase is monitoring and coordinating the work of the design consultants, general contractor, and sub-contractors to ensure that the project is completed on-time and within budget. This involves frequent site visits and meeting regularly with all members of the project team to discuss the progress, problems, scheduling, and outstanding issues.

TPSi monitors the adequacy of the general contractor’s supervision, personnel, progress, workmanship, work methods, and, if necessary, directs the appropriate corrections. TPSi manages and monitors all project changes: analyzing all change order requests from the general contractor, consulting with the architect and making recommendations on these changes, or suggesting alternate cost-saving methods. The services provided by TPSi during the construction phase include:

  • CD review and work verification
  • Project administration
  • Progress meetings including meeting minutes and weekly status reports
  • Frequent site visits
  • Quality control
  • Change order evaluation
  • Contractor payment applications

TPSi also tracks and manages all project-related costs from initial budgets to payables to close-out using Prolog, a professional construction management software system. In addition, this software serves as a document management program tracking project correspondence, RFIs, submittals, change orders, contracts, and other records.
Post-Construction Phase
The project manager’s job is not successfully completed until the client is completely relocated and all project close-out is completed. The post-construction phase focuses on ensuring work is complete, providing the client with necessary documentation, and final cost reconciliation and payments. TPSi works with the architect to prepare and manage the completion of the punch list to ensure the general contractor, sub-contractors complete all outstanding construction related items, and, if necessary, recommends withholding payment to protect the client from incomplete punch list work. TPSi also assists the architect is obtaining all guarantees and warranties and providing these to the client.

These post-construction services include:

  • Create detailed punch list and oversee completion
  • Create project manual
  • As-built drawings
  • Warranties and guarantees
  • Maintenance instructions
  • Comprehensive contact list
  • Material control samples
  • Final cost reconciliation

Real Estate Consulting
TPSi offers a wide range of technical real estate services for development and acquisition projects. These comprehensive services include property assessments, engineering and construction reviews, physical condition surveys, due diligence, and litigation support.
Our property assessments utilize a three-step process to provide our clients with comprehensive evaluations and recommendations for the properties. First we evaluate and record the existing conditions through extensive site visits, pictorial review, and technical reports. Next, we will make recommendations for physical or operational improvements. Finally, TPSi will provide the client with estimated costs to implement recommended changes.

These property audits benefit current owners, potential purchasers, financial institutions, or property management groups by providing detailed information and recommendations on current conditions and potential changes to improve operating efficiency, reduce expenses, and improve tenant satisfaction. The specific evaluation services are tailored to meet the needs of individual clients.

TPSi can provide any range of the following specific services:

  • Sustainability review of building systems and operations
  • Building and system capital expenditure projections
  • Code compliance surveys
  • Americans with Disabilities Act and Fair Housing Act compliance surveys
  • Development feasibility studies
  • Property acquisition, financing and life cycle assessments
  • Structural integrity and major system condition surveys
  • Value engineering of designs and specification
  • Modification recommendations of building systems including:
  • Life safety system review and design modification
  • Roof, envelope, and caulking systems review and response
  • Domestic water and sewer systems design review
  • Building electrical distribution systems review
  • Utility tracking reporting and usage control for Energy Star performance rating system
  • HVAC system troubleshooting, testing, and response
  • Review of system repair and maintenance programs and practices

In addition, TPSi provides litigation support on real estate issues. These services have included evaluating design and construction installation, reporting deficiencies, negotiating repair schedules, and performing expert testimony.
Project Advancement
Real estate owners and developers often find themselves in the difficult position of getting a project to stick to a budget while maintaining the market quality expectations and required delivery schedule. During construction, a real estate owner or developer may be faced with a questionable cost needed to complete a project or an unclear delivery schedule that is due to a contractor, design team, or another third party.
TPSi’s project advancement group adds several important elements to the project planning and design process: construction experience, critical thinking, and creative problem solving. These skills become advantages that ensure that a client’s cost, time, and quality project objectives are properly defined. TPSi weighs cost-benefit factors in each decision and strikes the tight balance between quality, cost, and time requirements.
TPSi consultants are expert in construction logistics, cost estimating, construction scheduling, constructability review, document review, procurement, contract negotiation, and other special technical support. TPSi facilitates communication among the project owner, the architect, engineer, contractors, and subcontractors by bringing together the knowledge of the industry through the design development process. The result is a value-enhanced and well-planned construction project.

During the pre-construction phase of the development, TPSi works with the client to evaluate alternative construction methods, materials, and contractual strategies to provide for the best approach for successful delivery of the project. Next is the planning phase where TPSi’s expertise is most able to influence the key cost and schedule drivers and to obtain best value for clients as the project develops. TPSi also plays an important role in construction activities through project close-out. Working to achieve or enhance the project objectives, TPSi provides an independent viewpoint that better maintains the overall design intent and schedule. TPSi believes in collaboration, integration, and a high level of coordination in order to have a cohesive project that functions smoothly, safely, and efficiently.

Benefits of using TPSi Project Advancement include:

  • Owners realize a greater value from their investment.
  • Quality-built projects are delivered on time and within budget.
  • Project delivery operations proceed smoothly and safely through integrated planning and resource management.
  • Potential conflicts or claims are avoided through explicit contracts and detailed documentation.
  • Any issues can be turned around in a short time period to allow for the investments to be re-analyzed.
  • Accurate measures of progress are provided through timely budget and schedule status reports.
  • Owners avoid having contractors get ahead on billings or get behind in project delivery.
  • Owners realize “peace of mind” with a representative that protects their interests throughout the entire project development.

To enable Project Advancement, TPSi services include:

  • Construction estimating and cost modeling against similar projects to identify areas of cost imbalance
  • Value analysis to identify areas of cost reduction opportunities or best applied funding
  • Conceptual design and constructability review to identify potential conflicts with the local market contractors
  • Design team evaluation to ensure responsibility of all areas of the project
  • Review of scheduling to allow for necessary phasing and sequencing as intended for project delivery
  • Equipment and material procurement to ensure proper delivery schedule avoiding project delays
  • Analysis of project specific material and labor requirements to identify potential impacts to time or quality based on local market practices
  • Contractor prequalification and contract negotiations to ensure client’s expectations are communicated contractually
  • Bid package preparation scoping/bidding/negotiating and advice to awarding contracts
  • Construction management oversight to monitor and maintain or improve project intended goals