Credit is more valuable than cash. It is the measure of experience and the fulcrum of leverage.
Access to credit is a critical privilege for any developer hoping to stay in business, but figuring out the financing strategy of a deal can be a creative endeavor like any other. For Dean Carlton, we made an offer on the land without knowing how we would come up with the capital to close. By the time we had negotiated a contract with the seller, we had also negotiated a third party investor contract with individuals who were looking to buy a new home in the area. They invested about a third of the capital to help us purchase the land and received an exclusive right to purchase one of the condo units at a fixed percentage above our cost to build it. They also had an option to simply receive interest on their investment at the end of the project and not buy a unit.
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