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Our Development Consulting services encompass the entire project lifecycle, from project vision to occupancy. This includes Real Estate Strategy for initial feasibility and financing, as well as comprehensive Owner's Representation to assemble and guide the project team through evaluation, design, construction, and project turnover phases. This comprehensive approach aims to provide a clear roadmap for project development and implementation.
Element has deep and varied expertise gathering and analyzing organizational needs in the development of programming as well as establishing operational models to implement a project's vision. Element’s focused approach of clarifying the guiding vision for a project, and then testing multiple scenarios to evaluate feasibility early in the process is critical for managing organizational resources effectively. Our feasibility study encompasses essential elements such as project budget analysis, financial feasibility assessment, a ten-year operating budget, milestone scheduling, and preliminary program and concept plans.
Deliverables during this phase typically include:
Upon completion of a feasibility assessment, our responsibilities as Owner's Representation extend from project evaluation to building occupancy through our comprehensive staged approach:
EVALUATE - generate schematic design drawings and price estimates to gain a deeper understanding of project requirements
DESIGN - develop detailed design development and construction document drawings to solidify plans, budget, and schedule
CONTRACTS & CLOSING - facilitate contracting with a general contractor and finalize project finances or property acquisitions
BUILD - collaborate closely with design and construction teams, while continuously assessing and mitigating risks and capitalizing on opportunities (Project Management)
OCCUPANCY - transition into occupying and managing the building
(Asset Management)
We are driven by a powerful desire to translate ideas into real change. Whether you are an entrepreneur, investor or nonprofit organization looking to do something new, we can help you see what others might miss. Our experience includes the development of over $280M of award-winning projects in the Twin Cities. We can complete site selection, feasibility studies, due diligence, market analysis, financing, project management and repositioning strategies for office, retail, residential, and civic projects. Not sure where to start? We can help.
The Prince Street Building, a historic 5-story riverfront property in Minneapolis, underwent a $7 million renovation project utilizing Federal and State Historic Tax Credits, modernizing the building while preserving its historic character to attract new tenants and revitalize the area.
Through strategic consulting and project management, including securing critical funding, optimizing project planning, and overseeing architectural and construction processes, Element continues to support BWWA's vision of fostering economic empowerment and community development among Black women entrepreneurs in North Minneapolis.
Multi-phase development for a technical arts radio campus, overseeing Phase I's fundraising and project management for the renovation of existing spaces to create a scene shop, recording studios, and artist housing,
Development Consulting for a cultural institution on East Lake Street
One-on-one techncial assistance program for emerging developers in the Twin Cities.
Owner's representative helping to secure a myriad of funding and providing project management for a nonprofit arts organization campus redevelopment
Project Management for a one-of-a-kind skate park and outdoor plaza in collaboration with public and private partnerships
Site selection, acquisition, development, and project management services for a new office building for a growing wealth management firm
Historic renovation of an underutilized North Loop building into 100% occupancy with retail, office, and apartment units
Historic rehabilitation of an iconic Warehouse District building that spent nearly twenty years vacant
Award-winning historic renovation of a dilapidated warehouse into a vibrant neighborhood asset with thoughtful leasing through project management
Project Management Consultant for the City of Minneapolis and alongside the Collaborative Planning Committee, creating the City-approved Upper Harbor Terminal Coordinated Plan, an equitable development that benefits the Northside community
Successful projects don’t happen unless you embrace the idea of possibility. For too long there has been a quiet acceptance of the bland and uninspiring in commercial real estate. We strive to be a different kind of real estate firm. Our goal is to create amazing spaces that make people’s lives better.
