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Compass Development is your partner and advocate in navigating the complex real estate development process through acquisition, entitlements, design, construction, and delivering keys.

10/29/2026

Wednesday Wisdom: Not all contingency is the same.

One of the easiest ways for project budgets to become confusing is to use the word “contingency” as though every contingency serves the same purpose.

It does not.

Contractor contingency typically sits inside the GMP and addresses agreed ex*****on risk.

Owner contingency sits outside the GMP and gives the owner capacity for owner-driven changes, evolving needs, or other retained risk.

Design contingency is generally a pre-GMP planning tool used while the design is still developing and exact pricing is not yet available.

Those are three different buckets with three different jobs.

When the lines between them are blurry, the project team can end up debating who owns a cost only after the cost has already occurred.

The better conversation happens earlier: What risk are we planning for, who owns it, and which bucket is actually supposed to pay for it?

10/26/2026

When it comes to healthcare real estate, the right answer is rarely as simple as “lease” or “own.”

For a growing medical practice, the better question is: Which path best supports the business, the patients, and the long-term plan?

Compass Development is featured in the October issue of Las Vegas HEALS Healthcare Magazine with “Lease, Own, or Build? Choosing the Right Path for Your Practice.”

The article looks at the tradeoffs behind each option and the factors healthcare owners should consider before making a major real estate decision, including flexibility, capital commitment, control, growth plans, and long-term value.

There is no one-size-fits-all answer. The goal is to make the decision with a clear understanding of what each path means for the practice.

Read the full article on page 29:
https://www.lasvegasheals.org/wp-content/uploads/2026/10/Magazine_Oct_2026_digital.pdf

10/22/2026

What a day celebrating Southern Nevada’s business community. ✨

Compass Development was honored to be named a finalist for the Vegas Chamber’s 2026 Business of the Year Award in the 1–50 Employees category, and while we did not take home the win, being included among such an impressive group of companies was something we were genuinely proud to celebrate.

Congratulations to all of this year’s finalists and winners. The talent, leadership, innovation, and commitment represented in the room were a great reminder of just how much is happening across our business community.

We’re grateful to the Vegas Chamber for the recognition, proud of the team we’ve built, and excited to keep doing the work that got us here in the first place.

Thank you to everyone who has been part of the Compass journey so far. We’re just getting started.

10/22/2026

A meaningful partnership, now on display at Betty’s Village North. 🖤🤍

The Las Vegas Raiders made a significant donation to Opportunity Village for the naming rights to the gym at the Betty’s Village North Clubhouse, and the gift also included custom Raiders artwork that is now installed throughout the space.

Opportunity Village’s VP of Philanthropy, Stacy Ostrau, helped bring the partnership together, while Compass Development’s Aaron Kazarian coordinated the AD-S Signs contract and managed installation on Opportunity Village’s behalf.

We love seeing community partnerships like this come to life in ways that are both meaningful and lasting.

Thank you to the Raiders for supporting Opportunity Village and the people who will enjoy this space for years to come.

10/19/2026

Seven years of Compass Development. 🎉

Seven years of taking ownership, solving problems, asking the next question, and keeping the owner’s goals at the center of the work.

What started as an idea has grown into a team we’re incredibly proud of and a portfolio that continues to reflect the kind of work we set out to do from day one: thoughtful, complex, meaningful projects that make a lasting impact.

Over the years, Compass has had the opportunity to help guide projects across healthcare, hospitality, office, mixed-use, nonprofit and more, from Otonomus and The Narrative to Queensridge Medical Center, The Village at St. Rose, the Vegas Chamber headquarters, Betty’s Village North, and now Roseman University’s growing Summerlin campus. And many other projects along the way that have shaped our story.

But the best part of seven years is not a project list.

It’s the trust.

The clients who invite us to the table. The architects, contractors, consultants and partners who work alongside us. The team members who bring their experience, judgment and ownership mentality to every assignment. And the relationships that continue long after a project is complete.

Seven years in, we’re still learning, still growing and still focused on the same thing: seeing the whole picture and helping our clients move it forward.

Thank you to everyone who has been part of the Compass story so far.

Here’s to Year 7 and everything still ahead. 🥂

10/14/2026

Wednesday Wisdom: Contingency is not extra money.

In a Guaranteed Maximum Price contract, contractor contingency is part of the risk structure. It is intended to address uncertainty during ex*****on, not function as an open-ended cushion that can quietly absorb every cost problem that appears.

The important question is not simply, “What percentage is the contingency?”

Owners should also understand what the contingency is intended to cover, what it cannot cover, who must be notified before it is used, how usage will be documented, and what happens to the balance at closeout.

When those rules are clear, contingency gives the project team flexibility to solve legitimate issues while preserving transparency for the owner.

When they are not clear, the GMP may provide less certainty than the owner assumes.

Before signing a GMP, understand the rules behind the number.

10/13/2026

Compass Development has been named a finalist for the Vegas Chamber’s 2026 Business of the Year Awards in the 1–50 Employees category. 🎉

This recognition means a lot because it reflects more than the projects we manage. It speaks to the way our team works, the relationships we build, the communities we serve, and the ownership mentality we bring to every assignment.

We’re proud to be recognized alongside an impressive group of Southern Nevada businesses and grateful to the Vegas Chamber for the honor.

The winners will be announced this Thursday at the 2026 Business of the Year Awards, and no matter the outcome, we’re excited to celebrate the people and companies helping move our business community forward.

Wish us luck! 🤞

10/06/2026

Projects rarely succeed because of one big decision.

They succeed because hundreds of small decisions are made thoughtfully, consistently, and with the owner's objectives in mind.

The same is true in reverse.

Schedules slip one missed deadline at a time. Budgets grow one unresolved issue at a time. Quality suffers one overlooked detail at a time.

Successful project delivery isn't luck.

It's the result of preparation, accountability, and disciplined ex*****on from beginning to end.

At Compass Development, that's the standard we strive to bring to every project.

09/30/2026

Even the strongest contract only creates value if it's administered consistently.

That means monitoring contingency use, reviewing cost reports, documenting decisions, and maintaining alignment between the project team and the owner.

Project success isn't determined by what's written in the agreement alone.

It's determined by how the agreement is put into practice.

That's where experienced owner's representation provides lasting value.

09/29/2026

Another milestone in the making at Betty’s Village North! 🏗️

Aaron Kazarian is back on site with a construction update from the future Program Services Building at Opportunity Village’s Northwest Campus.

With site concrete and sidewalks underway, interior flooring progressing, and final touches being completed on the millwork, the building is moving closer to the finish line.

Completion and occupancy are anticipated by the end of September, bringing us one step closer to delivering a space that will support Opportunity Village’s mission and the people it serves throughout Southern Nevada.

We’re proud to be part of the team bringing this important project to life. Stay tuned as we head into the final stretch!

Address

770 E Warm Springs Road, Suite 300
Las Vegas, NV
89119

Website

http://compassdevco.com/

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