Is Your Design Team Business Savvy?
Hiring an on-fire design team for your new property is awesome, but do they ultimately understand business, finance and budgets? Stantec principal Jon Cardello says that outstanding design is vital but not enough, because the project must be informed by what the market will bear and if it can practically reach the construction phase. Jon says that clients are coming to Stantec to create a product that offers distinguishing characteristics in a very crowded marketplace. The solution: amenity programs, guest experiences and how food/beverage generates revenue. A good example: multifamily properties provide services such as piano bars, email lounges and cooking demonstrations. The idea: a communal experience instead of tenants doing these things in their lonely apartments. The result: not another multifamily property that just runs with the crowded pack. For more information about our Bisnow partner, click here.
