QuickDraw Fund Control Oversees New Retail Development Project in Las Vegas
Phase 1 of construction has already begun on a large scale, new retail center called Town Square, located just south of the Las Vegas Strip. It is being developed by Dynamic Development, which is a company that QuickDraw Fund Control has worked with for nearly four years. In the past, we’ve handled the budget analyses and funds disbursement schedule for multiple retail centers built by Dynamic Development. They have developed multiple Dollar General Stores, Joann Fabric, Krispy Kreme, Starbucks, 7-Eleven and WSS Shoe Stores throughout the Southwest.
This latest project is our biggest yet with Dynamic Development. There are two phases of construction that will take place as the Town Square center is being built, and QuickDraw will be a vital contributor every step of the way. Phase 1 is the ground-up construction of a 22,000 square foot retail building that will be home to a Total Wine & More. It is expected to open in October or November of 2016. QuickDraw has been, providing detailed inspection reports and disbursing funds as each phase of development is complete. Our goal is to properly and quickly deploy capital for completed improvements, which protects the lender’s financial interest and provides timely payment to the Contractors for Dynamic Development.
Phase 2 of the Town Square development will consist of an additional 35,000 square feet of retail space. There will be two additional buildings, which will house restaurants and other retail stores to be determined.
In total, the Town Square project will represent over 50,000 square feet of new retail space built from the ground up in one of the country’s premier real estate markets. QuickDraw is very excited to be a part of this project in Las Vegas. As Phase 1 nears completion and Phase 2 gets set to begin, it is important for everyone on our team to stay focused on the details. From the funds disbursement to regular inspection reports of the property, which show the completed work as it’s done, QuickDraw covers everything to best protect the assets of the Lender, and Dynamic Development.