Developers Making Decisions: Gut? Data? Market?
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Something I find endlessly fascinating: the strongly held convictions of developers about what rents faster, what matters to tenants, etc...that are completely different, even among developers in the same market.
I can ask 10 developers 1 question, and get 10 different answers!
Everyone has opinions, even about the smallest things - like where to locate washer/dryer in the unit, whether pocket doors or bifolds are fine or the devil, whether you need every bathroom to be ensuite, whether the stove should be electric or gas, whether balconies are needed, etc
Some developers translate this into a thesis, communicate it clearly, and adjust based on what they're learning about the market and their tenants. Some have methods of gathering data from their leasing agents and property managers.
Some just base everything on their own preferences, market/end user be damned, or on what they've done for the last 20 years.
One major differentiator I’ve noticed: whether the units are condos or rentals.
With condos, they often rely on residential realtors to tell them "what sells." This can be good, or very, very bad. Good realtors have insights, but they are often looking through a very singular lens, and/or mostly focused on what makes it easy for *them* to sell a place. Realtors who push trendy design and finishes can make a project look dated *very* fast, and most aren’t highly trained in design/interiors anyway.
With rentals, it matters whether the owners plan on holding the building long term [and thus have a strong eye on operations, maintenance, and durability] or whether they plan on stabilizing the building and selling it ASAP [in which case they're not as worried about that stuff].
As an architect and consultant, I get a front row seat to all these differences and preferences, because we work with many different developers and owners. Once I began to understand these different motivations, I got a lot better at my job and could deliver better services...and better buildings, as I could couch things in terms they cared about.
The most successful projects are those where the developer has strong ideas about what works for them, but is still open to the insights we can bring as architects and designers.
If you’re a developer, how do you make these kinds of decisions? If you’re an architect, how do you help coach developers through these decisions?
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