Instead of asking, “What can I design?” architects and other consultants in this industry should ask, “What can I do to help developers?” Let’s add to our value proposition to reduce developers’ and tenants’ risk by getting more resourceful.
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Nothing could be more clear. Tomorrow's development opportunities will be in the area of redevelopment! Why? More restrictive environmental constraints, higher cost commuting, excess and vacant suburban developments, cash strapped suburban towns, younger and more diverse populations, lack of jobs in the suburbs, rapidly changing technologies...you name it! Every trend forms a funnel back to the urban core.
ReplyDeleteThe problem with redevelopment is simple. Most urban cities lack the expertise to pull it off - despite billions spent with "consultants" who have little "skin in the game." A lot of urban property needs to get turned over to experienced developers and let the "animal spirits" take over. Instead, most urban communities insist on doing it themselves.
MulvannyG2 can help by influencing these towns to put more of this property in the hands of developers. Tenants are anxious for these opportunities. The hold up - in most cases - is the cities, authorities and commissions that own most of this stuff and don't want to let go.
Good for you, Greg! I wish more consultants would show as much gumption.
ReplyDeleteWell said, Greg. It's good to see that MG2 is thinking out of the box. The old model is broken. We may not see a return of the pre-07' easy money/credit driven economy. Being more involved with making projects actually happen is a great approach.
ReplyDeleteHi, everyone, and thanks for your comments.
ReplyDeleteJim, thanks for your detailed response, and I agree that cities, often hamstrung by the nature of bureaucracies, could and should take advantage of developers’ entrepreneurial perspective. Likewise, architects and other industry consultants also have this visionary nature, and can offer insight for cities to be on the front line of tomorrow’s development. Indeed, both urban cores and denser developments in the suburbs should continue to benefit from the insights of developers and consultants planning for highest land-use potential.
In our capacity to maximize innovation, consultants can, again, add value by thinking beyond the usual auspices of our work. Ask: Who do we know outside of our typical networks who can help secure not only funding, but tenants, too? What’s holding up a development in your area? Find out, and do the research—providing some sweat equity—to get the information needed to get the wheels moving.
Thanks again!
Greg