For Summit it’s a matter of being proactive and leveraging buying power.
“We have been able to secure vast amounts of product right here in the U.S. That has enabled Summit to work around tariffs and other challenges that occur when crossing borders by simply leveraging large amounts of buying power.”
Summit’s CEO, Marc Padgett, was quoted in this article from Affordable Housing Finance: https://www.housingfinance.com/finance/uncertainty-about-construction-costs_o
What strategies help keep projects on budget?
The ability to forecast cost and actually build for that amount is something that Summit has been able to do well because of our relationships with suppliers and subcontractors. Extremely accurate cost forecasting and our buying power being able to secure that forecast for up to 6 months has been a tremendous benefit to our clients. The best strategy for a developer is to have a good working partnership with their GC, and involve them early on in the planning.