$24 Million Vail Duplex Project
HM Capital was hired as an Owner’s Rep for a residential construction project in Vail, Colorado where the owner inherited the land with siblings. HM Capital worked with the owner to determine a strategy for the construction and eventual sale of one side of the project. We successfully navigated a tense relationship between the family to come to a successful buyout of the project to move it forward. HM Capital arranged the bank debt to buy out their siblings and arranged private financing for construction.
As the Owner’s Rep, we found and interviewed three different qualified architects and builders for the project and hired the best options. Throughout the pre-construction phase we oversaw the architecture and design process maximizing the end value. All told, we successfully managed a $7,000,000 construction budget with a 1% variance from start to finish and completed the project on time. We successfully sold the larger unit to a buyer to pay off all the construction and land debt leaving the owner with a paid in full unit.
Throughout construction, we worked with very selective buyers minimizing small custom changes that can cause cost overruns and delay a project in no time. We worked to create a design that would minimize the need for upgrades later in the project leading to a successful sale with minimal changes to the original plan.
We protected the owner by firing the first general contractor that was hired one week into the project after they sent us a change order before we even started. They seemed like the best choice at first, but in the end, we needed a contractor that understood both top notch quality and the financial interests of a developer. This is just one example of how as an Owner’s Rep, HM Capital will keep your interests in mind and protect your investment.