Lifecycle
A project is a lifecycle, not a transaction
Affordable housing moves through origination, development, underwriting, financing, construction, verification, reimbursement, stabilization, operations, recapitalization, and capital recycling. KIRBI treats that sequence as one continuous record.
Stage 01
Originate
Property discovery and site control. Location, zoning, program intent, and preliminary feasibility are captured as the first entries in the project record.
Stage Detail
What KIRBI organizes at each stage
On smaller screens the lifecycle reads as a vertical timeline; the content is identical.
01
Originate
Property discovery and site control. Location, zoning, program intent, and preliminary feasibility are captured as the first entries in the project record.
02
Develop
Feasibility, design coordination, development budget, and schedule. Assumptions become structured, versioned project data rather than scattered files.
03
Underwrite
Sources & Uses, operating pro forma, Schedule of Values, and funding gap analysis maintained against one shared set of project facts.
04
Finance
Capital structure, lender packages, and closing readiness. Conditions are tracked with owners, dependencies, and documentation status.
05
Build
Contracts, subcontractor onboarding, construction execution, and field documentation connected back to the budget and Schedule of Values.
06
Verify
Inspections, documentation review, labor compliance routing, and draw eligibility evaluation before any capital event proceeds.
07
Reimburse
Paid costs, proof of payment, public funding requests, and reconciliation compiled into the packages each funding source requires.
08
Stabilize
Lease-up, occupancy, tenant eligibility, and affordability compliance. Development obligations carry forward into operations.
09
Operate
Property management workflows, accounting interfaces, reserves, and operational reporting on the same continuous record.
10
Recapitalize
Financial performance, refinance analysis, and capital return readiness informed by the project's own documented history.
11
Recycle Capital
Capital becomes available for the next opportunity, with the method of recovery understood from origination forward.
Capital Recycling
Capital recovery is designed at origination
The method for repaying, replenishing, refinancing, or redeploying capital should be understood when the project is structured — not discovered at completion.
- 01
Private / Bridge Capital
- 02
Development & Construction
- 03
Eligible Costs
- 04
Verification & Compliance
- 05
Public Reimbursement
- 06
Asset Stabilization
- 07
Permanent Capital / Recapitalization
- 08
Capital Returned or Replenished
- 09
Next Affordable Housing Project
Actual capital structures vary by project, jurisdiction, and funding program. KIRBI organizes information and workflows; it does not determine eligibility, approve funding, or guarantee reimbursement.