How do I find partners for multi family development
I am putting together my first multi-family residential development (4 storey building, 61 units) in Toronto and looking for general advice on finding partners to help fund the deal and provide expertise.
I am aiming to build the project a micro units and build as prefab modules to speed up construction.
I have a schematic set of architectural drawings and from the drawings I have set up a rough proforma which, so far, is looking like it could be a profitable endeavor.
Any advice is appreciated.
@Jeff C.I was in your same situation about a year and a half ago. I had a project but had to find an experienced developer to help me determine feasibility (it wasn't feasible). I recommend asking investors in Toronto and neighboring areas who they would recommend. Plus, know what you are bringing to the table and what they are bringing to the table for the deal.
It's a long road but as an architect I'm sure you know that already.
Thanks for the advice, Joe. I have met with a couple developers already, but unfortunately this project was too small for them.
The challenge that I'm having is that I am trying to moonlight this endeavor, and as such, I can't approach many of the credible developers in Toronto because they are clients of our architectural firm.
The good news is that I have a great deal of experience designing and building condominiums and that gives me a lot of reassurance that the project that I have designed is feasible and marketable.
Thanks again for taking the time to reply.
