How does design translate to dollars? The value of design commences at the origination of the project, not at the middle or the end.
Dollars – Hard costs, soft costs, impact fees, development fees, square foot costs etc. – they drive the entire project from land acquisition to design team selection, construction and construction administration. Development costs are continually measured in square foot costs – what is included in that number? How can ROI’s be measured? Could it be by the number of units sold? The velocity and quantity of home sales? The success of the development?
Design – Why does it matter? Quite simply, because it will increase your ROI, increase your velocity of sales, and increase your buildable square footage if done properly. Thus, quality Design can and will translate into Dollars. The site, the project, the subdivision, and the resulting neighborhood becomes the measurable fabric of success. Community. How is that measured by the square foot? A common bond with your neighbor, a sense of place, a place to call home – sure they are design buzzwords, but they ARE tangible benefits to every community, albeit difficult to quantify and measure.
A new neighborhood starts with a place that is “nowhere” to most people and evolves into a community that people call “my home” and “my neighborhood”. It requires a talented team of professionals to collectively put their best foot forward to create this new community. So as you are sharpening your pencil to trim your square foot costs on your next land acquisition, new home, or community amenity ask yourself – what am I building and how is it relevant?
Hey, we all want to make a buck to enhance our lives as well as our families’, but when was the last time you put a price on “Community?” What is your ROI on that?
So, remember that the value of design commences at the origination of the project. Get your landscape architect on board sooner rather than later and he or she will translate good design into hard dollars in your pocket.
For more information on how to save money on your next project, call Blake Williams at 303.224.9520 or email him at firstname.lastname@example.org.