Development Magazine Summer 2011

Development - Ownership

Rizzieri Aveda School

Reviving the Dead: Old Malls Find Life with New Uses 

Turning a dead or dying mall into a vibrant new development that brings new life as well as a new form of gathering space to a community seems like the ultimate recycling achievement. By all accounts, however, transformation to new uses is an enormous challenge, for a variety of reasons.

sculpture in front of Terminus 200

Beyond the Glass Tower – Can Buildings Move People? 

In the 1800s, the Western and Atlantic Railroad lines ended at a bare patch of Georgia clay nicknamed “Terminus.” As the sticks-and-dirt settlement grew into Atlanta, the name “Terminus” came to mean more than just the end of a line. Today, it marks the entrance to one of the city’s most notable districts.

The Shops at Wiregrass XXL store

The Development Obstacle Race 

It is said that necessity is the mother of invention. In a development world that included stiff competition for retailers, rising construction costs, a time-consuming entitlement process and reliance on a third-party infrastructure development, developing The Shops at Wiregrass turned obstacles into creative solutions.

West 8th Tower in Seattle

The Life and Times of a Seattle High-rise 

In 2006, 2009 seemed like the ideal time to bring a new Class A office tower into the Seattle market. But by the time the West 8th Tower received a certificate of occupancy on September 9, 2009, the economy was in the tank, real estate values were down 20 to 40 percent, lease rates were down 30 percent and tenant improvement dollars were up by 100 percent.

Oxygenz interactive tool

New Voices - Designing Spaces for Gen Y 

It’s no secret that designing functional retail and office projects for the mobile Gen Y demographic requires a thorough understanding of how this segment uses space for work and recreation.

energy certificate and blueprints

Strategically Green - Helping Small Developers Go Green 

Small property owners rejoice! There’s a new sustainable building certification program in the works geared to the small commercial property market. Earth Advantage Institute has introduced a third-party certification program for buildings between 10,000 and 70,000 square feet.

lobby of office building

Strategically Green - Lighting Retrofits Can Offer Big Energy Savings, Good Payback 

A lighting retrofit is not the lowest-cost energy strategy a commercial property owner or manager can pursue, nor will it yield the greatest energy reduction of any strategy. But when it comes to making a big dent in energy consumption at a cost that is affordable for most owners, lighting should top the list of projects to consider.

Port of San Antonio entrance sign

Under Development – Making an Economic Engine from a Closed Military Base 

If DOD closes or realigns military bases as it did in the 1990s and 2005, the communities affected and the DOD can look to the former Kelly Air Force Base in San Antonio as a model. The base is now the Port of San Antonio and serves as an example of how cooperation at all levels of government and partnerships with the private sector can turn a potential catastrophe into a vigorous economic engine.

office building

First Look – Secondary Office Markets – Where Do We Go From Here? 

Investors targeted top-tier, low-risk office assets in primary markets last year, while opportunity funds sought a once-in-a-generation prospect to acquire quality properties at deep discounts. Distressed sales disappointed the wall of waiting capital as lenders extended and modified loans on quality assets, parting only with true high-risk, low-end properties.

From the Archives: Development Ownership Articles from the Previous Issue

175-185 Wyman Street

175–185 Wyman Street – Renovation at Its Best 

Development isn’t on hiatus everywhere. Some areas have weathered the Great Recession better than others. In the suburbs of Waltham, Massachusetts, a two-building, Class A office complex at 175-185 Wyman Street was a recent addition to the office and technology-based area.

Contribution of Office, Industrial and Retail Development and Construction report cover

First Look - A Glass Half Full 

The national economy is now in the early stages of recovery from its longest and deepest recession since World War II. Now known as the Great Recession, the 2008-2009 recession started in December 2007 and ended in June 2009. During that period, from peak to trough, the economy declined by a total of 4.1 percent.