Strategy and Business Philosophy
L&N Properties has a comprehensive understanding in all realms of the development process from land acquisition and entitlements to financing and construction.
The majority of the projects developed by L&N Properties have been for their own account. On larger projects, L&N will team up with investment partners in order to provide the necessary equity capital required to successfully fund the project.
Key business philosophy and strategies that makes them unique are;
- Fast to market. With our capital backing and traditional financing sources well established, we are able to offer a high degree of credibility to property owners which in turn allows us to capture the finest properties available.
- Low overhead cost. Our philosophy remains unchanged; to continue to minimize our overhead cost structure to ensure our investors and ourselves a strong return on investment with minimal expense structure.
- Project flow is moderate and steady. Because of our company’s size and goals, we do not need to constantly have multiple projects under construction in order to carry overhead to ensure viability. We carefully select fewer and higher quality projects and devote our resources to their successful completion.
- All members of the management team are extremely experienced, well established locally, and personally invested. We have a successful track record spanning over 29 years in developing, constructing, managing and selling real estate properties in Puget Sound. We have developed strong local relationships in all areas of our development projects and invest our own funds and our time to ensure the success of each project we develop.
- Conduct Due Diligence and Feasibility Studies. We do our own research elements including zoning analysis, determine development constraints such as infrastructure availability and capacity, evaluate title report restrictions, performing alternative use analysis and evaluate comprehensive development costs.
- Create Aesthetic and Functional Concepts. Hire quality, specialized consultants and participate in developing conceptual designs for both the site and building envelope that will accomplish client requirements and total satisfaction. Integrate all design elements to include architectural, structural, civil, acoustical, mechanical, electrical and plumbing. Closely oversee project progress to eliminate possible design conflicts or client dissatisfaction.
- Obtain Construction Entitlements. Determine all jurisdictions permitting requirements and develop approval strategies. Coordinate and prepare permit application packages. Interface directly with government staff to track and expedite permit progress, negotiate conditions of approval. Prepare and deliver project presentation materials and participate in necessary community and/or council outreach workshops.
- Contract Control. Determine project scope of work, advertised bid requests and diligently negotiate contract terms. Award construction contracts to both general contractors and sub-contractors with quality experience.
- Construction Management. Establish total quality management through implementation of control monitoring systems and effective communication methods. Develop project budget, construction schedule; change order control and progress payment procedures. Document project construction activities including record keeping, subcontractor control, tracking correspondence, maintaining daily reports, recording meeting minutes and maintaining cost records. Participate in inspection scheduling and equitable problem resolution.
