What are inherent risks in development project?
1. Potential worksite dangers: During the construction phase, workers must be vigilant at all times so as to avoid any potential accidents. To date, Gateway Development has had no workers on our projects seriously injured. The primary reason is that here at our company, it is mandatory that all our workers and subcontractors receive regularly scheduled safety meeting and daily briefings before work commences whether they like it or not. 2.Under-pricing a development project: There is nothing worse than having to go back to the bank and ask for more money as a result of under pricing a development project. Requesting more funds from the bank will force the interest rate previously agreed upon to change and the bank will likely loose faith in the developer’s ability complete the project. It is better to slightly overprice a project as the bank will only charge you for the funds used. 3. Changes in market conditions: A developer builds condominium units at a list price of $500,000 per uni
