If you're interested in learning more about Terra's upcoming sub-institutional value-add multifamily opportunities: Register Here

Redevelopment Process

Terra’s Microdevelopment Strategy

We are value-add construction managers at our core. The Terra team has 20+ years of combined real estate development experience, and has ground-up developed, redeveloped or renovated more than 2,000 units across the country.

Our team has pioneered the Terra Microdevelopment Strategy which allows us to bring our extensive know-how to bear on small and midsized projects.

It all starts with our people – we groom local contractors, partner with best-in-class specialists and consult local rental agents on each renovation. Our personnel are market-specific, ensuring that finished units match local taste and expectations. Each vendor works across multiple Terra projects, creating long term relationships and a team environment.

Contracted accountability – Terra contracts are structured so that the entire team has skin in the game. Underperformance leads to lower profit for everyone, and there are significant opportunities for our partners to earn more when they outperform their targets.  We believe that we are at our best when incentives are aligned.

In Budget, on time and quality work – Terra Capital managers are there every step of the way, with bi-weekly check-ins and site visits built into renovation schedules. Our team is proactive on delays and overruns, helping to optimize outcomes and give direction where needed.

Comprehensive Inspection Checklist

During our standardized due diligence process, our team and hired professionals examine every property. All properties are professionally inspected for issues: foundational, geotechnical, environmental, structural, waterproofing, rot, mold, roofing, plumbing, electrical, HVAC, Interior finishes, exterior envelope, pets, and appliances

Rigorous Estimation Process

Terra’s Inhouse Team has estimated hundreds of value add and distressed renovation projects. Each project we identify during the acquisition process is estimated three times prior to closing: ROM Pricing, Level 1 Pricing, and Level 2 Pricing which have historically been at or above our final renovation contract price. Each project builds in additional contingency for items that were not accounted for during the Due Diligence and Estimating Process.

Renovated to Terra’s Property Standards

Renovate to Terra’s proven investment property standards. Each property we acquire goes through the same process to maximize the finished product, minimize construction spending and optimize operational efficiency. Our team focuses on the important items, and systematically maintains quality control across every project.

Optimize Property maintenance and utility efficiency

Our team specifically focuses on direct metering or submeter each unit; often this will require the comprehensive replacement of the electrical, plumbing, and gas infrastructure to successfully divide the property utilities. Softscape areas are examined for potential hard scaping to reduce ongoing maintenance

Marketing & Leasing

Post-construction properties are professionally cleaned, photographed, videotaped, virtually staged, exterior signage installed, and listed on the market-specific leading listing platforms by our professional in-house leasing team to make sure we have high credit tenants in our target demographics

Asset Management Team

Our experienced and hands-on asset management team ensures the property is being professionally managed, maintained, and being efficiently ran


Terra’s Multifamily Property Standards to

Terra takes a focused and systematic approach to our property renovations. We are committed to driving
the highest returns on renovation dollars spent while achieving timeless, function, and attractive finishes.

Select façade improvements: exterior paint, window, and trip replacement, that gives a modern feel but works within the fabric of the neighborhood

Submetering: Maximize operational cashflow by strategically submetering electric, gas, water and sewer

Replace roof if less than 5 years remaining on useful life. Envelope waterproofing and roof condition approved per either home inspection or 4-point inspection

Foundation, and Structural repairs: if identified during the home inspection, licensed Structural engineer report required, and verified scope of work bid prior to purchase of the property.

Updated or functional; Approved through Home Inspections. We ensure the Kitchen is at or above Comparable Standard

Quartz Countertops, White subway tile backsplash, new stainless steal big box appliances locally sourceable:  Fidge, Dishwash, and Stove, new White shaker cabinets, or existing cabinets refinished in white with updated hardware

Updated or functional; Approved through Home Inspections. We ensure the Bathroom is at or above Comparable Standard

Bathroom tile surround, vinal tubs, low flow toilets, updated vanity mirror, and sink

Increase rental value through the addition of a washer and dryer either in the rental units or in a dedicated common area. Service or replace existing units to local market standard.

Set up reimbursement for common area washer dry or set up automated “coin-operated” collections to maximize operation income.

Flooring to be updated or repaired; approved through a home inspection and estimating process. LVT, LVP or Engineered hardwoods utilized based on neighborhood and comparable standards

Completed properties professionally photographed and virtually staged for maximizing demand and standing out against our competition

Hot Water Tank’s replaced with either electric or gas depending on the property’s utility metering. Goal to optimize operational cash flow.

HVAC: eFurnace, dedicated gas Furnace or Boiler, and Split systems utilized for heat to optimize submeter efficiency and lower operation costs depending on property and location.

Terra Capital

Forbes Real Estate Council

"In Maslow’s Hierarchy of Needs pyramid, the base level is physiological needs. These are described as air, water, food, shelter, sleep, clothing and reproduction. Housing is a foundational, basic human need and will always be."