What I've learned in re-development---your team matters.

[Robert Frazier]

It's a banner week for our fledgling development business. After  3.5 years we have permits for a 17 unit redevelopment project.

We had hopes that we would break ground within a year of buying the property....that fell by the wayside for 2 reasons:

1) we had worked with the city to increase density through an affordable housing scheme that did not go as planned. One of the project neighbors slowed the project by 6 months by appealing the staff decision through design review, planning and zoning and city council. The city nor our architect understood the structure of the affordable housing regime that allowed this delay.

2) our architect was incompetent in moving the project forward. This is something you can't always know before you start...he came recommended by others. But it turns out that he is a serial sand-bagger. Slowly moving projects when forced to by clients.

I should have fired him 2 years ago but I was pot committed and didn't have the balls to start over with a new consultant.

What I learned is that moving on quickly from an underperforming consultant is vital.