Four units, one set of books, start to sold.
Shape develops small multifamily in Jersey City through a separate company for each project. The Lugano ran on Fi from underwriting to the final distribution; three more are under construction on it now.
- 4
- residential units
- 6,554
- total sq ft
- 3 of 4
- units with outdoor space
- 4
- projects live on cellect
Underwritten once, reported on ever after.
The model that priced the site is the model the project reports against. Investors were onboarded, signed and funded through their own portal, and saw positions and statements there rather than in an attachment.
Cost known while it could still be changed.
Budget by cost code, with committed, incurred and paid coming from the documents themselves. Draws assembled from the budget rather than by hand; RFIs and change orders answered in a thread and landed back on the line they moved.
Every entity's books, kept correct from one place.
Invoices arrived at a shared mailbox and were read, coded and queued for approval. Bank matches were proposed and posted to Shape's own QuickBooks once approved. Control findings ran nightly across every project and company.