Cohousing-L Mailing List: Re: development questions--again

[Sharilyn Rediess (sredies1]

So, as Catya said, "the lack of MONEY" in the arrangement--that means that
the group has to come up with lots more up front money (to buy the land,
have a significant investment to convince the bank to give you a
construction loan) in addition to the other costs like legal fees,
environmental evaluations, etc.  Is that correct?  

If you can raise that kind of cash up front (through home equity loans,
savings, beg, borrow [no stealing]), in the long run will the overall cost
be lower in this model (sans development partner)?

If any of my fellow New Yorkers are reading, is this type of a model more or
less problematic under the Martin Act, or is in not relevant?  

Thanks!

Shari

-----Original Message-----
From: Catya Belfer-Shevett [mailto:catya [at] homeport.org] 
Sent: Thursday, November 30, 2006 1:18 PM
To: Cohousing-L
Subject: Re: [C-L]_ development questions--again

That's about what we're doing (no GC yet) - the problem is the lack of 
MONEY in that arrangement.  In terms of having qualified professionals, 
it's great.

        - catya, Mosaic Commons

sredies1 [at] rochester.rr.com wrote:
> Hello all,
> 
> I am part of the forming Rochester Group and have been reading archives
and
> asking individuals (cohousing and local planners/architects) many
questions
> about the development process.  Here is a question that I would appreciate
> hearing thoughts on:  One cohousing group I spoke with is using a
> development model that includes a project manager, general contractor, and
> architect as their primary development team.  Is this approach the same as
> what is typically called "self-development"? Or would this type of team
> have enough professional expertise to avoid the pitfalls of
> self-development that have been described on this list.  From what I
> understand, this type of model can be less expensive than having the usual
> partnership with a developer. 
> 
> Our group understands the value of having experienced professionals who
can
> oversee the project (help keep it in budget), permitting, and handle many
> of the development type decisions/tasks, etc.  Can a project manager/GC
> handle this as capably as a developer?  
> 
> Thanks for your patience in answering yet another development question. 
> Any thoughts would be appreciated.
> 
> Shari Rediess
> Rochester NY
> 
> 
> 
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