Phased projects have frequently been a way to bring large-scale developments to completion, breaking them down into elements that appear in turn, almost organically, at a pace that allows the developer to avoid becoming financially overstretched.

But the supply chain disruptions of the past three years and ongoing risk from higher financing costs and inflation have underscored the importance of phased projects even for anything larger than a single building.

“Where you’re building more than two buildings on a site, the reality is that you’re phasing those projects just due to the resource and risk reduction that can be so important,” said Cam Archer, director of sales and marketing with Orion Construction Corp. in Langley. “This phasing aspect really helps us minimize the risk of delays and cost overruns as we continue through a project.”

Rising construction costs have been a key issue for Orion over the past two years, forcing it to purchase materials in advance to keep ahead of cost increases and supply chain disruptions. The strategy ensured materials were available when needed, often for a better price than if it had waited. This helped keep projects on budget and on time as construction boomed in the initial post-COVID wave of construction.

But phasing projects has also helped Orion control costs as well as track with shifting market sentiment last year as interest rates rose and demand for strata industrial units cooled.

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