By leveraging other property holdings, we removed the need to convince a banker about the market benefits of innovative architecture. Bankers, and their consulting appraisers and engineers, will base their valuations on comparable market studies, which are only as relevant as the recent similar projects in that area. Predictability and reliable precedents are critical to securing traditional financing. As a result, creativity and innovation are often viewed as liabilities, which must be offset by increased equity rather than financed by conventional funding, resulting in lower internal rates of return. Most bankers are conservative by nature. It will always be left to the developer to assume the additional risk of innovation.
DEAN CARLTON CONDOS, BROOKLYN, NY
Resilience is a measure of the capacity to respond to change without system collapse. If society is to seek sustainability, resilience is an essential metric. Projects must meet the programmatic requirements of contemporary culture, be adaptable to future use and strategically anticipate alternate possibilities. On this intimate site, we choreograph three homes to support diverse lifestyles of varying square footage requirements and spatial organization.
Development Strategy: Latent Productions Design: Latent Productions, SR+T Architects, Martina Kohler Architect
General Contractor: Latent Productions
Engineer: Robert Silman Associates