Prepare for a retail-plaza financing discussion by assembling a credible development plan: property information, a defined construction scope, a costed schedule and realistic leasing assumptions. Financing terms depend on the lender, borrower and property; a generic loan-to-value ratio or interest-rate range is not a commitment or a reliable project budget.
Prepare a coordinated information package
Borrower and ownership: the information your lender requests about the borrowing entity, experience, financial position and proposed equity.
Property: purchase or ownership records, surveys, available environmental and condition information, and any lender-required appraisal.
Development: current plans, approval status, outstanding conditions and the intended construction delivery arrangement.
Budget: land, hard construction costs, professional fees, charges, financing and carrying costs, tenant allowances and contingency.
Leasing: executed agreements and clearly identified assumptions for vacant space, tenant work, incentives and timing.
Schedule: approvals, procurement, construction, tenant fit-outs and the expected start of rent collection.
Check the lender’s requirements directly
BDC’s commercial real-estate financing preparation guide discusses financial information, property assessments and the business plan. It is a preparation resource, not a statement that a particular BDC product funds your plaza. Ask each prospective lender for its current checklist and eligibility requirements.
Have your financing adviser explain equity requirements, security, fees, draw conditions, interest treatment, guarantees and repayment terms. Ask what happens if costs increase, leasing takes longer or the completion date moves. Do not assume construction funding automatically converts into long-term financing.
Make construction draws workable
Identify who prepares payment applications, what supporting records are needed, who reviews progress and when funds can be advanced. Align the project’s reporting with the lender’s process, without treating a lender’s advance as confirmation that every contractual payment obligation has been satisfied.
Maintain an updated cost-to-complete forecast, approved-change register and contingency balance. Explain the effect of an owner change before authorizing it. Your legal and financial advisers should review the lending and construction agreements together.
Stress-test the assumptions
Prepare scenarios for slower leasing, higher carrying costs, delayed approvals and construction changes. Show the cash needed in each scenario, not just the final projected return. Treat unapproved grants, rebates and future refinancing as uncertain until eligibility and terms are confirmed in writing.
FCC example: define the shell and tenant scopes
FCC’s Clarence Street plaza comprises three buildings and more than 35 commercial units prepared for tenant customization. The planning lesson is to distinguish the landlord’s shell and base-building scope from tenant fit-out costs, allowances and opening schedules. This example describes construction scope; it does not disclose or imply the project’s financing arrangement.
How FCC can contribute
FCC can help develop construction scope, estimates, sequencing and progress information for your project team. Lenders decide funding, and qualified financial and legal advisers address financing suitability and terms.
Read commercial construction budgets, multi-tenant plaza planning and construction contract administration. Request a preliminary plaza construction-budget discussion with your plans, location and current approval status.
Updated October 28, 2026. Published by FCC Builders Canada. General project-planning information; confirm requirements with your project consultants and the relevant authorities.
