A Step-by-Step Guide to Your First Multiplex Project

Building your first multiplex is the hardest one. Not because the construction is complex — wood-frame multiplexes are straightforward builds — but because the process has more steps than most people expect. Here is the complete roadmap from site search to occupancy.

Phase 1: Site Selection (Month 1–3)

Everything starts with finding the right lot. You are looking for an RS-zoned lot of 6,000+ sq ft in a neighbourhood where new multiplex units sell at $800+/sq ft. Run a quick feasibility on every lot before making an offer. The three numbers you need: current land value, estimated build cost per square foot, and comparable sale prices for new construction. If the rough margin is above 18%, the site is worth pursuing. Below 15%, walk away.

Make your offer conditional on a satisfactory geotechnical report and municipal pre-application meeting. These two diligence items will catch 90% of deal-killers before you commit.

Phase 2: Design and Permitting (Month 3–12)

Engage an architect experienced in multiplex design — not a residential designer who has only done single-family renovations. The design process typically takes 6–8 weeks for schematic design and 4–6 weeks for detailed construction drawings. In parallel, you will need structural, mechanical, electrical, and geotechnical engineering reports.

Submit your development permit application as soon as schematic design is complete. In Burnaby, expect 4–6 months for DP review. Once approved, submit the building permit — another 4–8 months. Total permitting: 8–14 months.

Phase 3: Financing (Month 6–10)

Start lining up financing while permits are in review. Construction lenders want to see: approved development permit, construction drawings, a cost estimate from your general contractor, and a market appraisal. Most multiplex projects finance at 65–75% loan-to-cost with a construction draw schedule over 12–18 months.

Phase 4: Construction (Month 12–24)

Construction on a 4-unit wood-frame multiplex typically takes 10–14 months. Critical path milestones: Foundation (4–6 weeks), Framing (6–8 weeks), Rough-in for plumbing, electrical, HVAC (4–6 weeks), Drywall and finishing (8–12 weeks), and Exterior/landscaping (4–6 weeks). The most common cause of delay is trade scheduling — lock in trades early and use a GC with established subcontractor relationships.

Phase 5: Sales and Closing (Month 20–26)

Start marketing 3–4 months before anticipated completion. Well-priced multiplex units in good locations sell within 30–45 days of listing. Strata subdivision must be completed before individual units can be sold — this takes 6–10 weeks through the Land Title Office.

Total Timeline: 22–28 Months

From initial lot identification to final unit sale, expect 22–28 months. The biggest variable is permitting. Every month of delay adds $8,000–$12,000 in financing costs, which is why experienced developers submit the highest-quality applications possible on the first try.

Fort Property Developments offers turnkey development management for property owners who want to build a multiplex on their own lot without managing the process themselves. We handle everything from design through sales. If you are interested in developing your lot but not in becoming a full-time project manager, reach out for a free consultation.