Clients and Experience
Project Management
Project Monitoring
Forensic Audit and Cost Finalization
Institutional Clients
Click Here to go to the top of the page
| PROJECT: |
 |
|
| PROJECT: | Empress Plaza and Pinnacle & Royal Pinnacle, North York, Ontario |
| SIZE: | 250,000 sq. ft. of Retail Space with 4 levels of underground parking, supporting 2 High Rise Towers containing over 700 condominiums. The project has a four year schedule. |
| TYPE: | Retail Plaza / Highrise Residential |
| COST: | $190,000,000.00 |
SCOPE OF WORK:
Mutual Gain was engaged by the Lender to represent their interest in the project. Specifically this included a review of the hard and soft cost budgets, plans and specifications for all phases of the project. Work with the Developer to achieve a budget that was acceptable to all parties. Review and report on the Borrower's equity, cost to date and projected profitability. Report on all aspects of development agreements, contracts, insurance, environmental issues and permits.
During the construction phase the mandate is to report on a monthly basis the work in place, cost to complete and calculate the advance and status of funding. Full reconciliation of project payables, confirmation of sales to date, deposit schedule and perform a site inspection including progress photos. Review consultants' reports to ensure compliance to codes, plans and specifications.
Click Here to go to the top of the page
Forensic Audit and Cost Finalization
 |
|
| PROJECT: | BCE Place, Toronto, Ontario |
| CLIENT: | Brookfield Development Corporation |
| SIZE: | Combined 98 stories Approximately 2 million sq. ft. |
| COST: | Approximately $500,000,000.00 |
SCOPE OF WORK
Mutual Gain was engaged to perform a forensic audit of the project's hard and soft costs. This included an investigation of the following:
- Review the General Contractor's guaranteed maximum price contract to ensure that all costs billed to the project were accurate;
- Verify calculation of cost sharing amounts;
- Review construction contracts and change orders issued;
- Ensure costs invoiced were fair and reasonable for work performed; A review of all soft costs including deposits and levies charged to the project.
After the total project costs were confirmed, Mutual Gain was engaged to determine the final allocation of costs between the Owners. This work included:
- Review of the Cost Sharing Agreements;
- Review of all Project As Built Drawings;
- Review of all Contracts and Development Agreements;
- Review and Allocation of Change Orders;
- Determining the parameters of the various cost centers;
- Preparation of Report to Owners.
Click Here to go to the top of the page
Pacific and Western
Business Development Corporation
ICICI Bank
Click Here to go to the top of the page