Collaborative project delivery is increasingly becoming the preferred method for multifamily developers, says Bancroft Construction Business Development Manager Bobby Judge.
The reason?
Collaborative project delivery methods like Construction Management-at-Risk (CMAR) and Design-Build–in which the general contractor and the architect work together in early design to collaborate on key decisions–helps the team work through constructability issues, plan ahead for long-lead items, and deliver the best possible building for the budget. But perhaps the most important reason developers prefer collaborative delivery methods, particularly in today’s lending landscape, is that it helps them get the required financing for their projects.
In a new case study released today by Bancroft Construction and Join, Judge and his project team (including Project Executive Steve Griffin and Sr. Estimator Matthew Bostock), tells the story of Steelworks, a Phoenixville, PA, multifamily project that Bancroft is building using CMAR contracting and the Join collaborative project delivery platform. Judge says this combination of delivery method and technology has helped Bancroft to not only get the Steelworks project budget under control, but has also helped its client lock down the required financing for the project.
“We excel in this market sector because most multifamily projects are delivered in a CMAR capacity,” says Judge. “With this delivery method, partnership and transparency is paramount as we work toward a solid GMP, which helps our clients secure financing.”
The Bancroft team won the Steelworks project by working with the developer, DeMutis Group, and the owner’s representative, Innova Services, to collaborate on creative budget solutions that would deliver an outstanding project for the Phoenixville community at a price that worked for DeMutis/Innova. Decisions were made and tracked in the Join platform, providing DeMutis with the ability to participate in and understand key decisions, as well as to continually track project status. The Join platform’s visual interface communicates this complex data in a simple-to-understand format.
Click here to read more about the decisions that helped Bancroft Construction move the Steelworks project forward.
About Bancroft
Established in 1975, Bancroft Construction is a construction management, general contracting, design-build, preconstruction, and virtual design firm serving the Mid-Atlantic region with offices in Delaware, New Jersey, and Maryland. Centered around bettering the communities in which they live and work, Bancroft assists clients with projects from concept to completion while developing long-lasting relationships. For over 50 years, Bancroft has realized sustainable growth by being approachable, a proactive problem solver, and a partner for its clients, which include firms such as Longwood Gardens, Bristol-Myers Squibb, Viking Residential, University of Maryland Eastern Shore, and Princeton University. www.bancroftconstruction.com
About Join
Join, the collaborative project delivery platform for the built environment, is software that facilitates decision-making for all stakeholders on a construction project. With real-time insight into project decisions and a visual interface that communicates complex information, Join empowers contractors, owners, and design teams to move the project ever forward – from preconstruction through closeout. More than 50% of the ENR Top 30 general contractors trust Join to streamline decision-making and to provide a world-class project experience to owners. www.join.build