Magnetic Elevators and the New Air Rights Boom

UNCODE.initRow(document.getElementById("script-489594"));  Before the invention of the modern-day elevator in 1853, we were limited on how high we could build without walking the stairs being extremely uncomfortable. The elevator revolutionized how we built, we build higher and higher, the sky’s the limit! Elevators are either on a vertical lift or pulley system but, now we move vertically and horizontally within the same elevator. How? I thought that was only possible in movies such as Charlie & the Chocolate Factory. Well the future of elevators is Magnets! German company ThyssenKrupp (https://www.thyssenkrupp.com/en/)  has announced that the era of elevators being pulled up by cables is over and the era of magnetically operated elevators are the new thing. The future of the way people move inside buildings will be changed by The MULTI revolution in elevator construction, providing completely new perspectives and a whole new world of opportunities for developers, architects, planners, and operators. ThyssenKrupp proposes employing linear motors in which several elevators can be used in one single shaft simultaneously both vertically and horizontally. This innovation creates shorter wait times, increased capacity, reduced weight and mass, and 25 percent more usable floor space. With taller skyscrapers being developed this innovation will be critical and have a direct effect on an owner air rights. As we continue to build higher with the introduction of MULTI and with restrictive zoning codes with a cap on height, smaller developments air rights will become increasingly more valuable. Combined with new technology and the ability to sell more air rights, we now have more incentives to create more density in urban areas.         UNCODE.initRow(document.getElementById("script-834224"));UNCODE.initRow(document.getElementById("script-731273"));


Modular Housing: a viable solution to increasing costs

UNCODE.initRow(document.getElementById("script-554233"));UNCODE.initRow(document.getElementById("script-174518"));As construction cost continue to increase, we must find more affordable solutions. One Solution may be modular construction. What is modular construction? Modular construction is a process in which a building is constructed off-site, under controlled plant conditions, using the same materials and designing to the same codes and standards as conventionally built facilities. It has been proved that building units offsite reduced the construction time in half. Constructing units offsite allow for more quality control and more flexible when it comes to design. While the units are being prepared off-site, the building structure is also being simultaneously built. So once the units are complete, they can be transported and inserted directly into the structure. This also can be a solution to unexpected natural weather conditions which can extremely delay construction. Remember time is money. This faster a building is constructed, they faster you can satisfy your investors and lease up space. According to the Modular Building Institute (http://www.modular.org/), building modular is Greener, Faster, and Smarter. Due to the factor-controlled process, waste is greatly reduced, and air quality is improved.  Modular buildings can be disassembled, and the modules relocated or refurbished for new use, reducing the demand for raw materials and minimizing the amount of energy expended to create a building to meet the new need. Structurally, modular buildings are generally stronger because each module is engineered to independently withstand the rigors of transportation and craning onto foundations, which creates more resiliency than on-site building construction. Not only is modular construction budget friendly it is also environmental friendly. Assuming that the standard opportunity cost is 10% annually, and using industry standards for loans, modular construction will cut the construction time in half and save around 15% of the total development cost.      UNCODE.initRow(document.getElementById("script-933976"));UNCODE.initRow(document.getElementById("script-114415"));


Thought Leadership: Meet Our Team

UNCODE.initRow(document.getElementById("script-502445"));Climate change, global warming, and other environmental phenomenon is forcing us to adapt the way we build.   Our thought leadership series was created to explore how new innovations, technologies, and construction methods are challenging our paradigms. Our hope is that these forward looking thoughts help stimulate new opportunities. From our team to yours: Creative Director – Steven Kelly has a Bachelor in Fine Art in Communication Design from Pratt Institute and a Master Degree in Computer Applications. Steven Kelly multi-faceted approach to creative development places him amongst top creative leaders in his field.  stevenbryankelly@gmail.com Master Writer – Brandon Orlando Fennell is a native of Lithonia, Georgia. He is graduating in May 2018 with a Master of Urban Design and Master of Real Estate Development from the University of Miami. Brandon has a passion for giving back and plans to shape the world for more African American architects, urban designers, and developers. bof5@miami.edu Numbers Cruncher – Ariel Newfield has a comprehensive education in real estate from the University of Miami, with a Masters of Real Estate Development and Urbanism and Construction Management.  Ariel’s global perspective inspires him to make complex financial real estate transactions clear to all parties involved. aynewfield@gmail.com The Orchestrater –For Adam Greenfader it’s all about the synergy of great teams, thinking outside of the box and producing innovative ideas and real estate products. UNCODE.initRow(document.getElementById("script-167941"));


Impact of Hurricane María – Puerto Rico

Summary Report by Estudios Tecnicos as submitted to the Puerto Rico Builders Association   Hurricane Maria made landfall in Puerto Rico on Wednesday, September 20th, with sustained winds of 155 mph and gusts of up to 175 mph, causing tremendous devastation and destruction to the island’s infrastructure. The impact of Hurricane Maria is estimated between $53.8 and $67.6 billion – Reconstruction costs alone could total $23.0 to $28.9 billion. Lost business activity was estimated at $13.7 to $17.2 billion. In response to the aforementioned damage, over $6 billion dollars have been injected in the island’s economy through a combination of federal relief funding, central government investment, the Red Cross, and private insurers’ disbursements.     Given past experiences with hurricanes in Puerto Rico, an increase in GNP is expected in 2018 and 2019.  Investment in construction would almost triple over the next two fiscal years. Most of these reconstruction costs are related to housing units that need to be rebuilt over the coming months. Estimates place 40,000-60,000 homes destroyed and an additional 160,000-180,000 suffered minor to moderate damage. However, the expansion in economic activity is only temporary. After fiscal 2019, Puerto Rico will likely return to a declining trend in GNP growth, as other socio-economic indicators will likely continue to deteriorate.   After 2019 that should average a negative -3.2% between 2020 and 2023. Between 2023 and 2027 1.9% growth is assumed, 2.4% between 2028 and 2032, and finally 3.0% growth from 2033 onward. The economy would reach 2006 levels by 2032. This long recovery period is a further indicator of the massive structural damages that the economy has sustained not only from Maria but also from the prolonged economic contraction. Economic recovery will require major structural adjustments and not simply marginal changes to improve efficiency in the public sector.