QuickDraw Fund Control Takes on New Project in Historical San Francisco Haight-Ashbury District
QuickDraw Fund Control was recently awarded a contract for a two-part construction project in the historic Haight-Ashbury community in San Francisco. The first part is a major renovation of a landmark theater that will be shared by two tenants. A key part of the renovation will be separating the balcony area from the floor area. One tenant will be installing a modern game room and bar/lounge. There will be pool tables, foosball and other fun games for patrons to enjoy.
What’s really interesting about this project is that, even though the interior is being completely remodeled for these new tenants, the exterior façade of the theater is being restored to its original appearance. It will still look like the classic theater on the outside and maintain the historical society’s requirements of a landmark building, which brings with it all sorts of unique challenges. For QuickDraw, it represents the first theater restoration project we’ve provided Fund Control and Inspection Services.
The project is in conjunction with San Francisco Branch of Preferred Bank and it is the fourth fund control job we’ve done for them. It is a growing relationship with one of the Bay Area’s premier lenders and we’re excited to be taking on such a major project.
Then, there’s part two, which is our fifth fund control job for this Branch of Preferred Bank. A new 7-unit apartment complex that is being constructed right next to the theatre. The same developer will be handling that new construction job, as well. QuickDraw has been involved since day one, reviewing the construction budget and preparing the funds disbursement schedule.
Both the theater restoration and the apartment complex have started work. Throughout both projects, QuickDraw Fund Control will be handling all aspects of the funds disbursement. We take an in-depth approach and look out for things that most other fund control companies won’t. We have licensed contractors on our Inspection team who help verify the requested funds are being dispersed corresponding with construction progress.
On a monthly basis, QuickDraw provides photo documentation, inspection reports and process invoices while also providing timely distribution of construction loan funds as each stage of development is completed.
QuickDraw is excited to be involved in these two exciting construction projects in the Bay Area’s historic Haight-Ashbury District with Preferred Bank. We know there will be many great projects with them in the future.