Construction projects operate as financial coordination systems. Execution on site depends on how capital is structured, released, and validated through documentation. Capital flow determines project velocity. Documentation determines whether capital moves. When coordination breaks, costs begin to accumulate immediately. Delays extend timelines. Carrying costs increase daily. Tension builds across owners, contractors, and capital providers. Understanding how capital moves through a project determines whether execution remains stable from start to finish. How the Capital Stack Gets Assembled Before construction begins, the project is structured through a combination of equity and debt. Equity is deployed first. Land acquisition, pre-development, design, and early

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