Kenneth “Ken” Hart is a New York, NY-based real estate executive. From 2000 to 2017, Ken hart worked at Harco Construction as president and CEO. Following his work at Harco, Kenneth Hart co-founded Veracity Partners, a real estate development company based in New York. The company handles various stages of the development process, including pre-development.
Pre-development is the first major phase of the real estate development process, and it encompasses all activities that take place before the construction begins. There are three major steps in this phase - market research, property selection, and property vetting.
During the market research, the real estate company must first choose its strategy. It has to decide whether it’s going to build in a lower-profit but stable niche, or build in a potentially more lucrative but riskier market.
Next comes the property selection. Mostly, the search is done in person, with company executives and representatives conducting face-to-face meetings with brokers. Searching online is another viable option. The third option is to contact real estate owners directly with an offer.
Vetting the property is the final step of the pre-construction phase. The list of considerations includes, among other things, property zoning, cost analysis, talks with tenants, and architectural design.
Pre-development is the first major phase of the real estate development process, and it encompasses all activities that take place before the construction begins. There are three major steps in this phase - market research, property selection, and property vetting.
During the market research, the real estate company must first choose its strategy. It has to decide whether it’s going to build in a lower-profit but stable niche, or build in a potentially more lucrative but riskier market.
Next comes the property selection. Mostly, the search is done in person, with company executives and representatives conducting face-to-face meetings with brokers. Searching online is another viable option. The third option is to contact real estate owners directly with an offer.
Vetting the property is the final step of the pre-construction phase. The list of considerations includes, among other things, property zoning, cost analysis, talks with tenants, and architectural design.
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