How My Real Estate Development Company Is Using AI — Part 1 By Corey Parchman

Why We Made AI a Core Part of Our Operating System

For years, real estate development has been driven by experience, relationships, and instinct. Those things still matter. But today, relying on them alone is no longer enough.

At CorePar Development, we made a deliberate decision to integrate AI into how we evaluate deals, manage projects, communicate with partners, and plan for growth. Not as a gimmick. Not as a shortcut. But as a strategic operating tool.

This series breaks down exactly how we are using AI in the real world of development — not theory, not hype, but practical application.

Why We Turned to AI

Development is complex. Every project involves layers of risk, coordination, and capital. The margin for error is small, and the cost of mistakes is high.

We saw AI as a way to:

• Reduce blind spots in early decision making

• Speed up analysis without cutting corners

• Improve clarity between investors, contractors, and consultants

• Create systems that scale without adding overhead

AI became a way to support judgment, not replace it.

AI as a Pre Development Advantage

Before we ever break ground, AI plays a role in how we think through a project.

We use AI to help with:

• Market and submarket research

• Early feasibility analysis

• Rent and cost sensitivity scenarios

• Preliminary site planning logic

• Risk identification and assumption testing

Instead of reacting late in the process, we identify challenges early — when changes are cheaper and options are wider.

AI Helps Us Ask Better Questions

One of the most underrated benefits of AI is not the answers — it is the questions it forces you to ask.

AI helps us pressure test assumptions like:

• What happens if rents flatten

• What happens if construction costs increase

• Where timelines are most vulnerable

• Which variables actually move returns

That level of clarity improves internal conversations and strengthens how we present projects externally.

AI Improves How We Communicate

Development lives and dies by communication.

AI helps us turn complex information into:

• Clear summaries for investors

• Organized scopes for contractors

• Structured updates for partners

• Consistent documentation across projects

The result is fewer misunderstandings, faster decisions, and stronger trust.

What This Series Will Cover

This five part series will walk through how we are applying AI across the full development lifecycle:

• Part 1: Why we adopted AI and how it fits into our strategy

• Part 2: How AI improves deal evaluation and feasibility

• Part 3: How AI strengthens budgeting, cost control, and risk management

• Part 4: How AI improves collaboration between investors, developers, and contractors

• Part 5: How AI helps us scale responsibly without losing discipline

  
  

The Takeaway

AI is not changing real estate development overnight. But it is quietly changing who operates with clarity, speed, and control and who falls behind.

For us, AI is not about doing more deals. It is about doing better deals, with fewer surprises and stronger execution.