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