Like many companies, we have been enjoying this cycle of buoyancy, but remembering the financial crisis. I am not sure anyone that lived through the financial crisis will ever forget. I was in Nashville this week, visiting with one of our customers, and the topic of the economy took center stage. We discussed when it …
We are currently constructing an urban redevelopment project that will have a value of about $120 million when completed. Approximately 40% of the dollars required are coming from a little-known federal visa program known as EB-5. EB-5, which was designed to promote investment and employment in the US, has gained popularity in the real estate development …
All things being equal, attracting new customers is normally harder than keeping an existing good one. That makes retention one of the most valuable components to any business’s success. This week, I got a wakeup call about just this subject. We received an unsolicited proposal for our voice and high-speed data service. The price was …
I have found success in the leverage of our efforts by having solid “two-way street partners.” This is somewhat like loosely connected circles–watching out for each other, touching the perimeter and being able to help each other with opportunities. Sometimes I feel like a high school coach, forwarding my good recruits to my favorite NCAA …
We’re just starting on an apartment project where we decided to go with variable refrigerant flow (VRF) technology for the heating and cooling needs. Instead of each unit having its own HVAC system, these VRF systems use a central condensing unit. Each space is linked digitally to a central controller which manages conditions and monitors usage. Each …
Recently, someone told me that as a country, we are not over “mall-ed,” we are just under-demolished. There is still a place for shopping malls on good real estate, just not as many. Patterns are changing. I traveled to New England this week to visit a couple of our projects. Driving through smaller towns like …
In our industry, I’ve found that many times folks use too much stick and not enough carrot. Let me explain. Because of tight deadlines and performance pressures, resulting in little time, the industry tends to cater to impersonal emails at best, and raised voices at worst. Perhaps we could all practice better manners and carve …
Over the last few weeks, we have been working on the initial stages of a project that will land somewhere between $40 and $70 million, with a 2017 delivery. A really nice, interesting project. Recently when I was meeting with our customer about the project, I asked about two consultants who I thought would be …
We are finishing a project that features a technology element so proprietary that there are no drawings. Instead, the system manufacturer sent employees to direct which components go where for our “rough in.” This served to protect the intellectual property. Our team took a number of steps to minimize confusion and maximize productivity on this …
In planning our projects, we always look at average weather conditions. Average is a thing of the past, and it seems we are now surprised by reality more often. We had a project in Wisconsin last winter, and we were told it was the coldest in memory. I guess they did not know about this …
For income producing commercial property, Capitalization (Cap) Rates determine property values, a function of the dollars generated by the property and thus the ROI. These cap rates are influenced by a ton of different factors including type of investment, location, potential for increasing cash flow. The lower the cap rate the more valuable the property. …
I’m fortunate to be a part of a solid initiative called Design Alabama. Every year we participate in a Mayors’ Summit, working with five different cities on their most challenging design problems. We just completed our 2015 Summit. A few interesting nuggets I learned about Millennials trends (people born 1979 to 1996) 31% of Millennials prefer …