"Our roundtable discussion will help developers know what the cost of repositioning a project from one use to another," said Chinn. "We will have multiple scenarios and the costs associated with each type of design element. For example, attendees will learn what the cost implications are to add a store front to an existing block wall.
"Roundtable attendees will receive handouts with examples, costs, and suggestions of how they can save money with their renovation,"
According to Chinn, there are five things a developer needs to consider for a successful repositioning project:
1. Your architect is on your side. Tell him or her what your over all vision is for the project.
2. Do your due diligence. Don’t skimp during this process; the hidden pitfalls will cost you much more.
3. Understand the limitations of your existing project. Changing use will affect parking, structure and occupancy.
4. Know the current code requirements for your project and what this implies.
5. Do you have a contingency in your construction budget? Is it enough? If you don’t have one, you better get one.
"An architect can create a strategic plan and design to reposition any type of building. However, just because it can be done, doesn't mean you should, which is why it is imperative that you understand all the costs associated with the design and construction before you move forward," Chinn explained.
Craig Chinn is the Studio Director for the Retail and Commercial Studio at KTGY and is responsible for all aspects of the project design, client relationships and business development. During his career, Chinn has been involved in the design and planning of a wide variety of retail and mixed-use retail/housing/
Chinn earned a Master of City and Regional Planning, Master of Business Administration and a Bachelor of Architecture from California Polytechnic State University, San Luis Obispo. Chinn is a member of ICSC, Urban Land Institute (ULI) and Construction Specification Institute.
ICSC's RECon is the world’s largest gathering of retail real estate professionals and provides the opportunity to network, make deals and learn from industry experts. No other retail real estate convention attracts a worldwide audience of 30,000 attendees. For more information about the annual event, visit www.icsc.org.
Founded in 1957, the International Council of Shopping Centers (ICSC) is the global trade association of the shopping center industry. Its 60,000 members in the U.S., Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world. Visit www.ICSC.org for more information.
About KTGY Group, Inc.
Established in 1991, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, marketing and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, Calif., Denver, Colo., and Tysons Corner, Va. See www.ktgy.com.