Urban America is witnessing a revival of downtown housing. Widespread conversion of vacant warehouses and new infill construction on once overlooked tracts of land are adding to the vitality of urban neighborhoods while preserving the city’s architectural heritage. The multifamily housing projects of yesterday have yielded to high-density loft apartments, condominiums, and rowhouses.
The driving force of this revival is the migration of individuals to the urban core seeking a life-style free from the restrictions of conventional living. By choosing “city life” they are creating for themselves a seamless “work-live-play” environment. They desire to experience an atmosphere of inclusiveness and diversity that knows no social boundaries.
This migration is producing opportunities for developers and investors who are attuned to this restless and demanding demographic. By providing unique dwellings that immerse individuals in the environment they seek, investors and developers are realizing strong returns in this supply-constrained market. The results of the 2000 census support an increased demand for urban housing. This market currently represents 5% of all development in the United States and is expected to grow to 25% by 2015.
We search for unique, often irreproducible buildings and underutilized land that can be reintroduced to the market. Working from the perspective of the customer in their new home back to the raw sketch, we set the scope for a product that meets both the consumer’s needs and the investor’s return while enhancing the vitality of the community.
Seeking to understand the urban consumer and their expectations, we build upon our knowledge by studying local and national trends, market feasibility data, and successful projects. Through listening to and observing our customers, we increase the odds of building the dwellings they desire. We look to past experiences, current consumer expectations and potential untapped demands to map a course for future development that will meet the changing needs of the market.
With each development, we face the challenge of balancing the appropriate project budget with the consumer’s purchasing power. In response to that challenge, we assemble and lead a team of architects, contractors, and city officials to deliver a product that sells. The successful introduction of a product to the marketplace is about getting it done right, on time and on budget.