Frequently Asked Questions
Development Feasibility & Cost Advisory — FAQs
Straight answers on what a feasibility review covers, what it costs, how long it takes, and how Godiva Consulting works with developers, investors, lenders, and owners.
How much does a development feasibility study cost in Vancouver?
Fees vary significantly with project size, stage, available information, and the level of analysis required. A focused early-stage review may start around $3,000, while a comprehensive development feasibility assessment can be substantially more. After a short scoping conversation, you receive a clear scope and fee proposal before any work begins.
What does a feasibility study cover?
A feasibility review tests the assumptions driving project viability — including construction cost, escalation, revenue, financing, approvals, timing and delivery risk — and identifies which assumptions have the greatest effect on the outcome.
When should I commission a feasibility review?
The most valuable time is before you are committed: during acquisition due diligence, through rezoning and design development, and before financing is finalized. A review is also worthwhile after a material change — in construction costs, interest rates, or market conditions — or whenever an existing pro forma no longer appears reliable.
How long does a feasibility study take?
Typically two to four weeks from receipt of complete information. Where timing is critical — an acquisition, a financing deadline — an expedited review can often be arranged.
What do I receive at the end?
The deliverable is tailored to the assignment and agreed scope. Typically, you receive a written review setting out the key cost and feasibility assumptions, identified risks and sensitivities, and practical conclusions for the decision at hand. Supporting cost plans, benchmark analysis or sensitivity testing are included where they form part of the agreed scope.
Who are your typical clients?
Developers, investors, lenders, and property owners — anyone committing, funding, or underwriting capital on a residential or mixed-use project in Metro Vancouver.
How is a feasibility study different from an appraisal?
An appraisal provides an opinion of property or project value. A development feasibility review examines whether the proposed development is financially and practically workable under the assumptions being considered — including construction cost, revenue, financing, timing, approvals and delivery risk. The two serve different purposes and can be complementary.
What information do you need to get started?
Whatever you have: site details, the proposed program or concept drawings, your pro forma or cost assumptions, approvals status, and target timing. Work can begin with partial information, but the timeline depends on how complete it is.
Can you review an existing development pro forma or cost plan?
Yes. An independent review of your existing pro forma or cost plan is often the fastest way to engage: we benchmark your cost assumptions, test revenue and escalation sensitivities, and identify which assumptions carry the greatest risk — without commissioning a full feasibility study from scratch.
Do you provide project monitoring for lenders?
Yes. Godiva provides independent lender-side project monitoring, including initial budget and funding review, construction progress assessment, draw recommendations, contingency and change exposure, cost-to-complete assessment and commentary on emerging cost and delivery risks.
Learn about Project Monitoring Services →
Lender & Draw Control Scope →
Do you work on projects that are already under construction?
Yes. For projects already underway, the focus shifts from feasibility to control: construction progress assessment, change and contingency exposure, cost-to-complete analysis, and draw review — including independent monitoring for lenders.
Is my project information kept confidential?
Yes. All engagements are handled in confidence, and project experience is only ever presented on an anonymized basis. NDAs can be signed before any detailed information is shared.
What does PQS mean?
PQS means Professional Quantity Surveyor. It is a professional designation managed by the Canadian Institute of Quantity Surveyors (CIQS) and may only be used by qualified, certified members. PQS professionals provide construction cost and financial advice across the project lifecycle, including cost planning, procurement, project monitoring, risk management and financial control.
Where does Godiva Consulting work?
Based in North Vancouver, serving Metro Vancouver, the North Shore, and British Columbia — with project experience across BC and Alberta.
Still have questions?
If your question isn’t answered above, send a note with your project details and we can discuss the appropriate scope for your project.