Housing & Commercial Development Project Stages
Understanding where a development project stands in its lifecycle can give you a big advantage in evaluating a market. TractIQ tracks every stage of housing and commercial projects so you can see not only what’s being built, but also where in the process it currently is.
Below you’ll find the definitions for each stage we capture.
Development Stages
Conceptual
Project has been announced and is in conceptual or early planning stages. Typically, planning and approval applications have yet to be filed with the municipality. Site plans, location, and/or contacts may be pending confirmation and not yet be available.
Design
Project has begun the formal planning and/or approval application process but does not have a confirmed construction start date.
GC Bidding
The project is actively seeking bids from contractors or subcontractors. This stage often involves distributing bid packages and reviewing submitted proposals.
Post-Bid
This phase involves evaluating and comparing the submitted bids.
Bid Results
The results of the bidding process are analyzed and a decision is made on which contractors to select.
Award
A general contractor or construction manager has been selected for the project.
Sub-Bidding
Once a general contractor is selected, they solicit bids from subcontractors for various aspects of the project.
Pre-Construction/Negotiated
Initial construction activities are beginning on-site, such as site preparation or groundbreaking.
Under Construction
Active building is taking place.
Final Planning
The construction phase has finished, and the project is ready for occupancy or use.
Occupancy
Construction is complete. It involves final inspections, obtaining certificates of occupancy, and handing over the completed project to the owner.