When a company decides to open a brick and mortar store through a commercial real estate firm, there are a lot of calculations that go into that, everything from the costs of construction to inventory and staffing. But one thing that many retailers might realize is just how well a physical storefront can support their online sales.
The Halo Effect
Retail stores have what’s called a halo effect that supports online shopping. The ability of consumers to shop at home and pick up locally in Denver helps. It’s the best of both worlds – the comfort and convenience of shopping at home with the immediate gratification of entering a store just to pick up your merchandise.
In-Person Shopping Leads to More Online Shopping
Many retailers have long complained that people browse their aisles only to later shop for those same items online. And while that might be true in some circumstances, it’s also been proven true that retailers with brick and mortar stores are likely to see higher web traffic on their own websites, according to research by the International Council of Shopping Centers. And when web traffic picks up, it’s more likely that it will also generate sales.
In many cases, people like to shop online with retailers that they know and trust. What better way to know and trust a retailer than by shopping in their physical store? It’s a great opportunity for brand engagement, where that good relationship can carry over into a positive online shopping experience, whether the customer has goods delivered to their home or they go to the store for pick-up.
How a Civil Engineering Firm Can Help
When retailers are considering building a brick and mortar store, it’s important to engage with not only a commercial real estate firm but a civil engineering. Civil engineers in Denver and beyond are well-qualified to determine the appropriateness of a proposed site for a given development plan. By having a strong development plan that supported behind the scenes by the technical expertise that can make those plans a reality, a brick and mortar store can, in addition to reaping the benefits of foot traffic and sales, achieve greater web traffic and online sales, too. contact CenterPoint Integrated Solutions today for help putting your plans into motion!
When commercial real estate firms work with civil engineering firms to plan a new project, there are numerous criteria to be considered, from site selection and planning to construction and development. But what about the people who will use the site? Of course you have tenants in mind, but thinking about your project holistically can deliver a greater success than you or your tenants could have dreamed of.
Planning for the People
It’s crucial to remember the importance of people when planning a commercial real estate development, the people who are going to use that site, whether it’s for work, to live, to play, or just to be. In Denver, like the rest of the country, people place a high value on experience. It drives where they spend their leisure time and their money. When commercial real estate developments that include retail space, residential space, office space, and public spaces meet that need for experience, they may be more likely to find success.
Think Outside the Box
When commercial real estate firms cultivate the right mix of tenants, from retailers to hotels, coworking spaces, and more, people will come because they want to be there. Take a big picture view of your commercial real estate development project instead of focusing on the details like ruling a tenant in or out based on say, credit rating. Yes, those things matter, but sometimes, taking a chance can deliver a greater return for both sides than either thought possible. With the right tenants, even if maybe they’re not ideal on paper, you can leverage that experience into community because people will flock to you. And that community will keep it going because a community takes care of its own.
Contact a Commercial Real Estate Developer Today
It’s great to build spectacular commercial real estate developments but without the people who will use them, is it really a success? Perhaps, thinking about who the final users of your commercial real estate development project might be earlier in the process can guide you toward making decisions that support those users. Civil engineering firms consider things that people need like green space and public transportation. Find a way to incorporate these elements in your design to attract diverse crowds. contact CenterPoint Integrated Solutions today to get the best of a civil engineering firm and a commercial real estate firm all in one.
The oldest members of Generation Z, at age 22 or so, are ready to set out into the world to take their rightful places in the working world, as generations before them have done. Which makes it a good time for an architectural engineering reminder about how important it is to have a work space in Denver that welcomes all employees, regardless of which generation they belong to.
Why Real Estate Development Firms Need to Remember This
It’s only recently that social scientists and analysts like those at the Pew Research Center have decided to formally declare a semi-official date range for the Millennial generation and Generation Z, the one right behind it. However, the unique attributes of Generation Z as a cohort may have a strong influence on work space design. For example, this is the first generation that came of age in a time where so much of their lives were lived online. They’re truly comfortable with technology in a way that surpasses all those who’ve come before, and it show in how they approach their personal and professional lives.
The Importance of Multigenerational Work Spaces
Even though Generation Z is the new kid on the block – almost literally – there’s no reason to believe that Millennials, Gen Xers, Baby Boomers, and even still-working members of the Silent Generation are going anywhere soon. A well-designed workspace needs to accommodate all of them. From generational preferences in work style, access, collaboration, and more, civil engineering firms must anticipate the varied needs, expectations, and assumptions of multiple generations working in the same space.
A Plan for Architectural Engineering Success
When civil engineering firm and commercial real estate development firms work together to ensure all generations feel welcome at work, it goes a long way in cultivating collaborative relationships among employees. Employees who feel supported by colleagues, no matter their age, are more apt to be engaged with their jobs and report higher job satisfaction rates. While there’s no guarantee that employees from different populations won’t sometimes experience intergenerational conflict, embracing designs that encourage workers to see what they have in common may help. CenterPoint Integrated Solutions is the commercial real estate development firm you need to create your multigenerational workforce. Contact CenterPoint Integrated Solutions today!
CenterPoint and IDES staff attended their annual Rockies outing where the Rockies beat the Padres 9 – 6. It was a fantastic time!
Local governments may soon be empowered to influence rents in Colorado, threatening both the state’s recent population growth and job prospects for building professions. A bill introduced during the Spring of 2019, Senate Bill 19-225, called “The Rent Stabilization Act”, would allow local governments greater say in setting maximum rental policies in their communities. The uncertainty and incongruence of local policies across Denver, and by extension, the state of Colorado, means that commercial real estate development firms may be hesitant about taking on new projects in Denver and beyond.
Rent Control, Explained
Legislation that’s described as “rent stabilization” has the function of telling landlords they must keep the amount of rent they charge for a unit within a certain range. According to some recent studies, it often has the opposite effect, destabilizing the rental market. Even though the state’s population has increased and construction jobs picked up in response to housing needs, the uncertainty of wondering which municipality will adopt rent control regulations has commercial real estate development firms hesitating before building more units. A downturn in building may also affect civil engineering firm, who’d loose out on work if new units aren’t being built.
The Ripple Effects of Rent Control
When local governments get involved and impose rent stabilization measures, sometimes it backfires. Instead, small landlords decide to sell their buildings. With the housing stock depleted, rents actually go up. Sometimes, residential properties can lose value, too, as assessments can decrease. As property assessments decrease, so does the amount of tax collected on those properties, which can have a seriously adverse effect on critical municipal services, including utilities, public safety, and education.
Lawmakers’ goals in providing more affordable housing are to be applauded. But rather than effectively punishing landlords with increased and inconsistent restrictions and regulations across cities, towns, and villages, it may be better to work with commercial real estate development firm and civil engineering firms to enhance the housing stock. Builders who take into account factors like transit access and other amenities when considering new projects may be those who experience the least ill effects from a law like the Rent Stabilization Act.
The policies that affect Denver’s zero-emissions rules are part of a statewide effort that includes tax credits for zero-emissions vehicles and a build-out of infrastructure to support the adoption of electric vehicles. Colorado is making a holistic and well-rounded effort to support renewable energy and zero-emissions through a variety of legislative and policy measures.
Statewide Initiatives Underway
The state has committed to the Intermountain West Electric Corridor, a project of the Regional Electric Vehicles for the West Memorandum of Understanding. This 8-state agreement signed by Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming supports the establishment of best practices along with a network of charging stations and emissions standards that encourage electrification. In keeping with these priorities, the Colorado Air Quality Control Commission issued low-emission vehicle standards, too.
The Future of Zero Emissions in Denver, CO
A recent executive order signed by the governor continues to support these efforts and expand them with the establishment of an interdepartmental transportation electrification working group. In addition, the Colorado Department of Public Health and Environment will help manage the funds received from a settlement with Volkswagen regarding emissions, and it will use that money to support electrification. And the state department of transportation has been tasked with writing a departmental electric vehicle policy.
What This Means for Real Estate Developers
It’s important to take these initiatives into account when planning new development projects. It could impact business and residential projects, providing both obstacles that must be accounted for and opportunities for creating new designs, such as the need for charging stations. As Colorado’s commitment to electrification evolves in collaboration with neighboring states, it’s quite likely that Denver is going to be one of many cities with zero-emissions requirements. By exploring what’s worked and not worked in other municipalities, civil engineering firms in Denver and real estate developers can get a jump on the designs and plans that could most benefit communities in the Denver area with workable projects that can deliver a strong ROI.
Colorado has already demonstrated a commitment to zero-emissions vehicles and low-emissions vehicles across the state. Cities in other western states, and across the country, are likely to soon be subject to initiatives and policies like those that affect Denver.
Contact a Real Estate Development Firm in Denver
Contact CenterPoint Integrated Solutions today to learn how we can help ensure your civil engineering projects are ready for today and tomorrow.
As the Baby Boomer generation ages, they’re driving trends in the long term care. They are a powerful force in terms of sheer numbers, which is helping propel change. And many of them expect to enjoy amenities in their long term care homes similar to what they enjoy now, while they’re still independent. Here’s a quick look at how their needs and wants may affect real estate development in Denver in particular.
Aging in Place
People naturally want to delay moving out of the homes they’ve lived in for years. That loss of independence can be traumatic, to some. For that reason, many Baby Boomers are interested in making sure their Denver homes can accommodate any changes in lifestyle and mobility as they get older. For example, they may expect real estate developers in Denver to build homes, apartments, and condos that feature open floor plans, accessible kitchens and baths, and modified fixtures to reflect their changing mobility and dexterity.
The New Nursing Home
Baby Boomers who can no longer live independently and must move to an assisted living or nursing home facility are still intensely interested in maintaining a sense of independence, even though it’s likely to be on a smaller scale. Any real estate development in Denver that includes gathering areas for socializing and exterior spaces that function like porches and stoops where residents can personalize their homes are likely to be highly valued. Real estate developers are also likely to be asked to create common dining areas that feel more like restaurants and less institutional in style and decor, as well as upscale amenities like spas and gyms for residents to use.
A Whole New World
Given their reliance on modern technology, the long term care facilities of the future will need to offer the same robust tech capabilities that Baby Boomers are used to in their own homes. Smart home technology is just the beginning. Baby Boomers are likely to expect decor, lighting, landscaping, architecture, and other features to meet or exceed the expectations they held for their own homes.
Contact a Real Estate Development Expert Today
While no one is eager to get old, it seems like Baby Boomers in particular are a generation that’s heavily invested in maintaining their independence for as long as possible, and when they can’t, moving someplace that’s as home-like as possible. Real estate development in Denver have a special opportunity to create homes that foster communities for Baby Boomers.
Contact CenterPoint Integrated Solutions today at 303-670-4111 to learn more about our real estate development services in Denver.
In its most basic form, you run a business. You provide a service to your tenants. So they’re more than tenants, they’re actually your clients. And that elevates the relationship beyond them writing you a check every month and you making sure the light bulbs get changed. The civil engineering firm that worked on your Denver development project ensured you have all the pieces you need for a successful venture; now it’s up to you to make the most of it.
Today’s business and consumer culture influences expectations, and most people’s expectation is that things are done quickly. A timely response to a request, even if it’s to let someone know that you’ll be on it tomorrow, goes a long way in cultivating a positive relationship. Think back to when you hired a company for civil engineering or other work; did your opinion of them change based on how responsive they were? Good communication helps your tenant see you as a valuable resource. Make sure that everyone in your organization has that same philosophy when it comes to meeting client needs.
Even in this age of instant communication, meeting someone in person is important. Be someone that your tenants recognize. Be accessible to their questions, comments, and concerns. Really listen when they talk to you. If you have amenities that aren’t resonating with your tenants, do something about it. Talk to a civil engineering firm if necessary to see what your options are with regard to making changes or improvements. While it isn’t always possible to make all of the tenants happy all the time, remember that these are the people who use the space, and their feedback may include important things that you don’t see from your perspective.
The more you can do to foster a community relationship among tenants and neighbors, the more likely it may be that you’ll rarely have a vacancy; and when you do, it will be filled quickly. Look for engaging and relevant activities, volunteer days, community service opportunities, and other ways to encourage connection with your tenants and among your tenants. Don’t forget how important word of mouth is in developing a good reputation in the community.
Contact a Civil Engineering Firm Today
Part of attracting and keeping tenants in Denver is being a responsive and engage building owner or manager. Civil engineering can only take your building so far; the rest is up to you and the team you put together. Contact CenterPoint Integrated Solutions today for help capturing and keeping tenants at your location!
Opportunity zones are perhaps the most exciting thing related to civil engineering to come out of the major federal tax cuts and jobs legislation passed in 2017. Their purpose is to foster long-term investment in economically distressed communities in Denver and across the country. These efforts are supported through Opportunity Funds, a way of encouraging private investment in exchange for tax incentives on capital gains.
What are Opportunity Funds?
Opportunity Funds are privately established and managed funds for the exclusive purpose of economic revitalization of distressed communities that meet certain qualifications, including being identified as Opportunity Zones. There is no limit on the amount of money that can be invested by these funds, and therefore no limit to the potential benefit for the communities they’re intended to benefit. Economic revitalization incorporates the activities of many sectors of a community, including banking, a href=”https://centerpoint-is.com/civil-engineering/”>civil engineering, construction, and legal, as businesses and housing projects get off the ground.
What are Opportunity Zones?
Opportunity Zones are federal census-designated areas that meet a certain definition of economic distress. This label can apply to communities across all states and the cities, towns, and villages within them, including Denver. The labeling process begins with areas designated and nominated by the governor of the state. According to the legislation, up to one-quarter of economically distressed communities can be labeled Opportunity Zones, subject to income limits. Governors of states with less than 100 census tracts can choose up to 25 of them to be considered as Opportunity Zones. A community that’s marked an Opportunity Zone can hold that designation for ten years. These areas are primed and ready for developers, working with a href=”https://centerpoint-is.com/civil-engineering/”>civil engineering firm, banks, construction trades, and others, to start new and exciting projects.
Why should I invest in an Opportunity Zone?
Those who invest in Opportunity Zones receive capital gain tax incentives. The goal is to spur an infusion of private money instead of public money to support and develop communities that otherwise might be overlooked for a variety of reasons. Capital gains that get invested in opportunity zones are tax-deferred. Gains on long-term investments of at least ten years may be tax free (with certain limitations).
Contact a Civil Engineering Firm Today
The goal of Opportunity Funds and Opportunity Zones is to balance the speed at which economic development can proceed with an ongoing commitment to improvement efforts. Contact CenterPoint Integrated Solutions today to work with a civil engineering firm that is knowledgeable about the program and how it works. CenterPoint Integrated Solutions is well-positioned to help Denver investors make the most of this program.
As every generation arrives at adulthood, they bring with them an overarching shift in culture and lifestyle. As Gen Z looms ever larger in American life, the changes they bring in the realm of commercial real estate may seem subtle right now but have the potential to be seismic. This generation is focused on people, the environment, and technology.
From Cube to Coworking
Gen Z has a strong sense of community and for them, work/life balance is really important. Working remotely is becoming more common across industries and including commercial real estate development, both because it advances Gen Z work/life balance goals and also recognizes the environmental impact of commuting to an office every day. Instead of traditional office buildings with smaller offices and cubes, Gen Z is more likely to appreciate coworking spaces for gathering.
An Emphasis on Tech
If you thought commercial real estate development deals move fast now, wait until your workforce is full of Gen Z professionals. They grew up with technology and place a high value on their ability to get things done, and quickly. Technology tools that advance a commercial real estate developer’s work will become more common. That emphasis on tech will spill over into the actual real estate development, too; Gen Z expects that building are equipped for current and anticipated technology needs, and that will factor into development work.
Rethinking Brick and Mortar
While no one is assuming that brick and mortar stores are going away, Gen Z places a higher importance on experiences over things. As such, the nature of commercial real estate may change dramatically. A full complement of products isn’t necessarily the future of a retail shopping area when Gen Z is accustomed to shopping online and fast shipping. New restaurant models may need to reconfigure the ratio of dining room to kitchen space because of Gen Z’s comfort with ordering food for delivery so that they can enjoy meals at home with family and friends.
Contact a Commercial Real Estate Firm in Denver to Reach Gen Z
Every generation brings with it new challenges and opportunities for the status quo, and Gen Z is no different. As they make their mark on American life, Denver will be no exception, and neither will commercial real estate development. By striving to meet their needs and wants, commercial real estate development firms will have to be creative and adaptable. Contact CenterPoint Integrated Solutions today to reach Gen Z with your next commercial real estate development project!