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October 7, 2020

How COVID Is Making Some Developers Adjust Their Projects

As the conversations around long-term decisions start to percolate again after a six-month pause, some of the ways the coronavirus pandemic has adjusted new and upcoming developments are coming into focus.

Developers and landlords are scrambling to respond to shifts in the way people live and work and shop in future developments, from increasing apartment sizes to accommodate home offices, to pouring more money into technology and infrastructure to combat future pandemics.

How COVID Is Making Some Developers Adjust Their Projects

“We are all sort of navigating our way through this and hope we come out on the other side," Integral Group Chairman Egbert Perry said. "During the Great Recession, really at the tail end of it, we all sort of exhaled and said, 'We won't see anything like this anytime soon,…

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Origin Stories: How A Pandemic Brought Infectious Disease Expert Dr. Walter Okoroanyanwu (Back) To CRE

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This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

When developer and property manager Crocker Partners hired Dr. Walter Okoroanyanwu as its director of environmental health in July, it was a somewhat shocking indication of how the world was changing amid the coronavirus pandemic. Crocker enlisted Okoroanyanwu, an epidemiologist, to help improve the safety, wellness and sustainability of its 11M SF portfolio, bringing medical expertise and relationships to try to answer questions about how to protect tenants from disease.

Appointing a doctor to guide design and property management decisions was unprecedented, according to Crocker, but Okoroanyanwu has a background in CRE that made the transition from medicine to real estate smoother.

Bisnow: How did you get introduced to CRE? Okoroanyanwu: Growing up, my family owned a civil engineering and construction company that managed commercial real estate projects. I managed the company for 10 years when my father passed away until my younger siblings (who graduated in engineering) could take over. While…

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