The Voyage Brief | September 2020 | AIA, The New York Times, Bloomberg, Cottages & Gardens, Fast Company, Metropolis, RCLCO, The Los Angeles Times, The Washington Post
2020 is full of both opportunities and challenges for residential real estate development. We must continue to challenge our current thinking, expand our knowledge base + actively seek out new perspectives to make decisions about existing assets and new opportunities.
The pieces below provided us with valuable strategic perspectives this month. We hope that they do the same for you.
Floor Plan Example | via AIA.org
01 | The American Institute Of Architects
➤ Strategies for Safer (Post-COVID-19) Multifamily Housing
The AIA offers guidance that can be utilized by development teams at every price point. It outlines best practices for new daily habits, worker and support-staff needs, along with stringent hygiene regimens with social, infrastructural, and spatial requirements.
Filters, disinfection, plans designed with flexible separate spaces, lighting to improve mental health, limits on the number of residents who access amenities, guest tracking. These are things that buyers, agents, and renters will ask about; developments should expect customers of real estate development to become “scientists.” Answering their queries backed by expert-based recommendations will be key.
We will be living with COVID-19 for as far as we can see, and must minimize the risk of transmission in public spaces, and allow for healthy isolation in private spaces. For multifamily living to thrive and remain highly desirable, we must utilize design to answer the challenges brought on by COVID-19.
Javier Santos Guzman | via Unsplash
02 | The New York Times
➤ How the Pandemic Has Changed Apartment Building Amenities
In New York, both September 11th and Hurricane Sandy changed new development. In the case of the former, more security and protection from the outside world, and the latter, mechanicals + generators placed safely out of potential flooding. COVID-19 will also shift multifamily design, particularly when it comes to amenities.
CJ Hughes takes us through some subtle interior adaptations (copper, known for its antimicrobial properties), Mirror home gyms, and reasonably sized washers and dryers. When it comes to amenities there are some significant design shifts (cabanas), and others that are more of the moment (fitness centers that are open 24 hours).
For buyers or renters willing to be one of the first to invest in multifamily development, there must be above and beyond confidence in a development team’s design decisions.
Nadi Lindsay | via Pexels
03 | Bloomberg
➤ Suburbs Can Woo City People By Being More City-Like
We do not believe that people are “fleeing” cities; instead, we believe that there is a higher than average attrition out of dense urban locales given a shift to remote work, and the need for more residential square footage. Many residents of top-tier cities have not been able to save to buy a nice home; the creative classes couldn’t afford to open a restaurant or small business.
To both attract and keep urban-dwellers who have decided, or are deciding to try something a little different, Noah Smith lays out the case for why suburbs will have to up their game and build retail, recreational, and consumer environments that are not only diverse but bring a sense of vibrancy to a locale.
This suburban/urban model is one of the most promising opportunities to come out of the pandemic; BV highlighted it as one of the top three. Not just for developers, but for the locales themselves to invest in.
Image via Noe & Associates | The Boundary
04 | Cottages & Gardens
➤ Behind The Scenes: SOM Architect Frank Mahan Shares Details of the Waldorf Astoria Restoration
The Waldorf Astoria is arguably one of the most revered and loved hotels in the world, one of the most iconic Art Deco buildings, inside and out. How does an architect approach a mixed-use restoration of a landmarked 1.6 million square foot legacy building that is the size of an entire city block?
Anne Giordano takes us through Frank Mahan’s (Skidmore, Owings, & Merrill) journey and design-thinking + process to restore this gem to not only its former glory but how to position it for future success. Mahan is a master of his craft, and discusses the three perspectives that must be balanced in a renovation; (1) the public’s memory of the building, (2) the original condition of the building, and (3) the original architect’s design intent.
When you are done reading about the renovation we recommend an armchair visit to The Towers of The Waldorf Astoria Residences, we love how the restoration is highlighted, then followed by the stunning residences with interiors by Jean-Louis Deniot. We say, more Legacy Real Estate please - which Mahan has made a case for in 2019 via Medium; We Recycle Bottles. Why Don’t We Recycle Buildings?
Houcine Ncib | via Unsplash
05 | Fast Company
➤ Meet the Black design collective reimagining how cities get built
Urban planning often neglects and inadvertently harms communities of color by excluding their voice from the decision-making table. Meet BlackSpace, a collective of architects, designers, artists, and urban planners that is focused on changing that. Diversity, Equity, and Inclusion (DEI) is becoming a mandatory part of many RFP processes, particularly when it comes to notable development opportunities, financing + tax incentives, and other bottom-line driven incentives.
BlackSpace envisions community workshops, planning exercises, and cooperative design efforts to proactively bring Black voices into the development planning and design processes. In Brownsville (in collaboration with Youth Design Center), the team created a strategy + tool kit that can be used to collect, preserve, and identify local histories, cultural gems - what makes the locale special.
Development teams need to ask more than ever before “Where is the color?” It is okay to say “I don’t know how to fix this,” and then ask people who do know how. BV can help you build that bridge - just ask us. It’s everything that we are - a juxtaposition of both worlds.
Connie Zhou | via Metropolismag
06 | Metropolis
➤ ASID’s Outcome of Design Awards Honors Data-Driven Interiors
These finalists represent the future of office design; how new ideas about wellness, sustainability, and the balance between connection and privacy can be put into action across multiple classifications. Most importantly they show how data collected from users can drive inclusive, responsive, and thoughtful solutions.
The M Moser Associates’ vision of a “Living Lab” was to have a future-proof workspace that can adapt and adjust as needed. Located in NYC’s iconic Woolworth Building, the firm saw a 75 percent increase in client visits to its office as well as a corresponding increase in the number of awarded project bids.
Gensler’s design for flooring manufacturer Shaw (Shaw Create Centre) in rural Georgia incorporates a social hub, outdoor workspaces, and more than 90 percent of the regularly occupied areas have a view of nature. Fast Company called it "The Most Innovative Workplace Design of the Year.
Jang Xulei | via Unsplash
07 | RCLCO
Raise your hand if you’ve spent more time at the grocery store in 2020 than ever before. How much value, and what type of premium can a rental offering command when a development or locale has a premium grocery store nearby? How is that estimated using data?
RCLCO’s Derek Wyatt, Vahe Avagyan, and Nicholas Stefanoni explore what the advisory firm refers to as the “Premium Grocer Effect” which until now, had only been studied from relatively narrow perspectives. The firm has used data to estimate that a Whole Foods or a Trader Joe’s command the same premium at 5.8%, with a smaller but still premium grocer commanding a premium of ~3.3%.
Note: This analysis does not take into account the impacts of COVID-19 as data was collected in April 2020. It will be interesting to watch out for their next report as rental numbers for 2020 can be calculated.
Image via Project Room
08 | The Los Angeles Times
➤ L.A., meet your new streetlight. The winning design marks the first revamp since the 1950s
The first competition of its kind in Los Angeles, strived to begin to make up for historic inequities which have resulted in affluent neighborhoods graced with beautifully designed streetlights, while other areas were made to settle for a much more utilitarian aesthetic.
The winner: Superbloom via Project Room, a boutique, L.A.-based collective. We love how they articulate their design vision, concept, and execution in such an elegant yet simplified way. You don’t need an advanced degree to understand how they arrived at the final design.
We don’t recommend design competitions as a band-aid; Curbed rightfully points out how it can create a spectacle vs. a solution and that “good enough” is what is needed to get it done. Yet done simply, honestly, and cleanly we are optimistic in our belief that competitions can move the DEI needle in the right direction.
Tyler Nix | via Unsplash
09 | The Washington Post
➤ Traveling may not be safe, but leaving vacation days behind isn’t healthy, either
During the Tiger King-era of quarantine, BV focused on ways to help our audience protect their happiness; the Gucci coloring book remains a favorite. In Spring 2020 it seemed that a bit of beautiful distraction would help. In Fall 2020, we realize something stronger may be needed, and that can’t just be Robert A.M. Stern’s martini.
Most of us equate paid time off with traveling to a destination; we typically detach from our home base and vacate our lives. This means we may not know how to take a vacation if we are not traveling.
September is National Suicide Prevention Month; we want to normalize mental health as an essential to well-being; vulnerability is not a weakness, it’s a strength. Inspired by Marie Doyle at Fiducia Property Group, I also say, my inbox is open. I will make the time. This year is hard, even for the optimists. xMKB.
Butterfly Voyage hopes that these pieces inform, inspire, + educate you about ways in which to navigate the adventure that 2020 is proving to be. We will continue to curate, discover, and share.
We would love to discuss any of the opportunity areas with you and your team; we want to be a strategic, and execution-based partner with your team as we all embark on The Big Reset. Please reach out to Meghna Krishna Bondili if you would like to begin the conversation.