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 Detail

What KIRBI organizes at each stage

On smaller screens the lifecycle reads as a vertical timeline; the content is identical.

  1. 01

    Originate

    Property discovery and site control. Location, zoning, program intent, and preliminary feasibility are captured as the first entries in the project record.

  2. 02

    Develop

    Feasibility, design coordination, development budget, and schedule. Assumptions become structured, versioned project data rather than scattered files.

  3. 03

    Underwrite

    Sources & Uses, operating pro forma, Schedule of Values, and funding gap analysis maintained against one shared set of project facts.

  4. 04

    Finance

    Capital structure, lender packages, and closing readiness. Conditions are tracked with owners, dependencies, and documentation status.

  5. 05

    Build

    Contracts, subcontractor onboarding, construction execution, and field documentation connected back to the budget and Schedule of Values.

  6. 06

    Verify

    Inspections, documentation review, labor compliance routing, and draw eligibility evaluation before any capital event proceeds.

  7. 07

    Reimburse

    Paid costs, proof of payment, public funding requests, and reconciliation compiled into the packages each funding source requires.

  8. 08

    Stabilize

    Lease-up, occupancy, tenant eligibility, and affordability compliance. Development obligations carry forward into operations.

  9. 09

    Operate

    Property management workflows, accounting interfaces, reserves, and operational reporting on the same continuous record.

  10. 10

    Recapitalize

    Financial performance, refinance analysis, and capital return readiness informed by the project's own documented history.

  11. 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.

  1. 01

    Private / Bridge Capital

  2. 02

    Development & Construction

  3. 03

    Eligible Costs

  4. 04

    Verification & Compliance

  5. 05

    Public Reimbursement

  6. 06

    Asset Stabilization

  7. 07

    Permanent Capital / Recapitalization

  8. 08

    Capital Returned or Replenished

  9. 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.