AFG Corp Developments and related entities have been undertaking residential development projects for some ten years, drawing on their understanding and expertise in property development and construction. The focus has been on residential developments where the opportunity can be identified, developed, completed and sold in a relatively short timeframe. The development model adopted reduces risk through fixed price land and build contracts, and an exit strategy through investors seeking property. Due diligence feasibilities are conducted on all projects, and finance committed prior to land purchase and project commencement.
Residential development project scope includes single residential, multi-density unit and townhouse development, and land subdivision. The present focus is on multi-density unit and townhouse developments where the density ranges from duplex to nine townhouse projects, to 30 to 40 unit developments. Developments are single or two storey only. Project funding ranges from $750,000 to $20 million. Smaller development projects are completed in eight months, while larger projects requiring development approvals span 18 months to three years.
AFG Corp has invested heavily in its own purpose-designed business management systems (BMS) software used to identify, manage, monitor and report on AFG Corp Developments’ property development activities. The BMS software has been designed and programmed in-house.