Once a brand has been developed, it becomes an investment in itself. Your reputation as a developer is worth more than any single project, and just like any other investment, it needs to be handled with care.
To protect a brand, proper attention must be given during the planning and design stages of a development project.
There are several common threats to a development organization’s brand that could undermine all of your hard work.
Here, we’ve compiled a list of problems to watch out for and ways to address each of them.
A common problem in development projects is a win-lose situation, where the interests of one party conflict significantly with those of the development organization.
This often involves members of the community feeling that the project is detrimental to their interests.
For example, consider a large condo complex that obstructs public access and views to a beachfront area.
While the property may be legally yours, the community may be upset that a building has blocked their view of the sunset and replaced it with a high-profit development.
In these situations, design alterations can be extremely beneficial.
There are always ways to adjust a vision to accommodate such issues, ideally creating a win-win outcome. Even if compromises impact your bottom line, view it as an investment in your company’s reputation.
A few less profitable projects can enhance your reputation as a responsible developer, enabling you to secure larger and more profitable projects in the future.
Nothing damages a reputation more than post-occupancy building system failures and the resulting litigation.
While ensuring safety and reliability should be a fundamental part of your planning, it also significantly affects your brand.
Being known as a reliable developer is invaluable, while the opposite can lead to bankruptcy.
The key lesson is not to cut corners and to incorporate all appropriate safety measures into your plans and designs.
Unrealistic planning can quickly damage a developer's reputation by burning through the budget or significantly exceeding the schedule.
To investors, seeing a developer overspend or fail to complete a project on time is a serious red flag that can take years to overcome.
Join us in our next post to learn how to avoid these and other risks during the planning stage of a development project.
Interested in exploring the potential of partnering with Taylor Architecture and Design for your next project?
Whether you're a real estate developer seeking land entitlement expertise or a property owner looking to maximize the value of your investment, we're here to help.
Our team brings a wealth of experience and a track record of success to every project we undertake.
Contact us today:
T: +1 (908) 226 5515
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