Substantial completion means the project, or a portion of the project, is fit for its intended use. The owner can then occupy and use the property.
What is substantial completion work?
Privately-owned construction, it occurs when the contractual conditions for completion of the construction obligations have been met and the owner is able to take possession or assume beneficial use and occupancy of the project.
What is substantial construction?
Substantial construction means that a continuous on-site physical construction program has progressed to a point where 25% or more of the total project is completed or where 25% or more of the total cost of the project has been expended for materials which are at the site.