Monday, May 22, 2017

Designing for Real Estate Developments

In the past JMA has done a lot of projects working with real estate developers. Our latest project is the Griffin Townhouses, which we designed for Ascent Development. The townhouses are located in Hunter’s Point, Long Island City. It consists of luxury condo units made with high quality materials like Quartz countertops, White Oak floors, and beautiful backyard spaces.  

10-27 47th Road
10-18 47th Avenue

Development Stage
Developing a building is a lengthy process because there are many different components that make a building a winner. Throughout the entire process each team member’s expertise is crucial in order to make the property a success. These members could be architects, bankers, lawyers, or engineers but each are an integral part of making the magic happen. I find the entire real estate process fascinating because real estate developers are always projecting into the future. When investing in a building the developer always asks themselves two questions.

·         What can I do to create value for this building?
·         Is this going to give me a return on my investment in the future?

Real estate developers are risk takers; they are responsible for picking out the right site, obtaining financing, and overseeing the design process. Simply stated they are the conductors of a project, trying to bring together all the different ideas of what a good design should be and make the building that works for all, not just for one segment of the team.

However, it is up to the architect to be responsible for the complete design of the building and how it performs in the market. JMA has a lot of experience working with real-estate developers as well as self-developing a number of our own projects. We know what buyers are looking for and how to achieve highly marketable and functional designs. For our project 54 Bright we designed and developed it throughout every stage. 
54 Bright
  Since we developed this building ourselves, we had more freedom in the design process: in terms of control, and receiving a greater return on our investment. These projects are exciting because as architects we can search for things other developers might not notice because we know how everything works from a design and structural standpoint. At JMA we have an advantage because we know what good design is and how to create buildings that people want and have them sell fast. 

With any development project there is going to be certain roles for each participant. Architects are held accountable to the investors and the business but we also want to make art and have it be a high quality design. We see the potential of certain areas or buildings developers might overlook. Our specialty is creating buildings that people want and need, keeping in mind the changes in each neighborhood. Our cities are constantly changing, especially in New York, with more gentrification and evolving tastes.

JMA creates buildings that are architecturally interesting but also economically viable. We know all the time it takes to design a well thought out project. Developers want buildings that stand out from the rest and can be distinctive amongst the other neighbors. At JMA we are all about achieving harmony of unique design while staying relatable with the other buildings. We have been successful in creating designs that are memorable and easily recognizable, which is a trend we will continue to uphold.

Massie, Caroline. "Q+A: Author Peter Hendee Brown on How Real Estate Developers Think." Architect. Hanley Wood Media Inc., 09 June 2015. Web. 18 May 2017.
Bulloch, B., & Sullivan, J. (2010) Information - The key to the real estate development process. Cornell Real Estate Review, 8,78-87.
Gil, Luis, and Richard Peiser. "The Architect as Developer." Design Intelligence. Design Intelligence LLC, 29 Mar. 2016. Web. 18 May 2017.


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