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All Forum Posts by: Peter Vanko

Peter Vanko has started 6 posts and replied 18 times.

Many architects "dead file" projects after a year or more collecting dust. This could mean throwing away the drawings, or deleting them digitally.

One danger of going back to the old architect is that codes and laws may have changed. Things like stairs and windows may no longer suffice.

Lastly, changes of use normally trigger code and zonign issues. Check with your building department.

Seth, yes, they normally  have value if they are approved.

Partnering with an architect is a great way to build value FAST!

Post: Large project design Architect

Peter VankoPosted
  • Boston, MA
  • Posts 19
  • Votes 4

We are large project designers, ready to operate throughout North America.

Let us DREAM with you and explore the highest and best use for your project. We have experience with large, mixed-use developements, particularly, hotel, residential, and retail complexes. Our experience includes involvement in the $2.2B Revel Casino in Atlantic City, NJ, and $?B Echeclon Resort in Las Vegas, NV.

Create the most compelling finance packages.

Attract investors.

All for relatively low dollars.

Check us out here.

- Peter V., AIA (MA), LEED AP, NCARB

Post: Developer Architect ready to grow your portfolio

Peter VankoPosted
  • Boston, MA
  • Posts 19
  • Votes 4

We are developers and architects, ready to grow your portfolio through creative finance, partnership, and, of course, design. Check us out here.

Looking forward to serving you!

Post: Boston market multifamily Architect

Peter VankoPosted
  • Boston, MA
  • Posts 19
  • Votes 4

We are Boston's premier multifamily Architect, ready to serve your needs when operating within this challenging, but rewarding, real estate market. Check us out here.

We look forward to serving you!

BP Friends,

From a LENDING perspective, how would you manage a lot subdivision where a mortgage is already in place?

Thanks,

Peter

Boston, Investor, Developer, Architect

Post: Architect + Development

Peter VankoPosted
  • Boston, MA
  • Posts 19
  • Votes 4

Design plans are pictures worth a thousand words. Gets everyone on the same page, leaving few questions to be asked.

A strong set of architectural plans communicates all aspects of a renovation even when no "major" changes exist. For instance, let's take a look at bathrooms: a strong set of architectural plans would depict the bathroom(s) and draw the elevations and ceiling. The plans would graphically depict material types, material extent, plumbing fixtures, lighting, outlets, etc. The plans would even describe the correct wall assembly behind tubs and showers, and how to waterproof them. From these plans, a GC would have very few questions, and even non-English speaking workers could easily see the intent. Lastly, the developer would have a single point of responsibility for the building's design, including the designer's specification of products, fixtures, and assemblies; should anything go wrong, the developer has one entity to talk to first.

This leads to my last point, and that is risk allocation. Developers playing "designer" unduly take on realms of expertise that they have no business taking on. Similarly, GC's can't fulfill the designer's role simply because they are executors (not creatives) that get the job done for a given budget. There is also a financial risk to a developer moving forward without drawings; what if he and the GC have differing opinions on the finish expectation, but, at the time of their contract execution it was not clear? Then, as construction moves forward, the developer starts asking questions? The GC pushes back, saying that he can't deliver the building at the developers expected finish level. A lawsuit results, and it comes down to a lack of clear direction. Once again, pictures are worth a thousand words, and building projects are simply indescribable using mere words.


It can be fiscally enticing to go forward without an architect, but it is not wise. Find the right one who gets development, and you'll find greater leverage in banking, construction, and sales.

Thanks, Wayne,

We've actually been able to refi the whole place based upon one of the units when the value was there. But it cost us a lot.

So, sounds like you are saying you'd finance the building conversion versus trying to do it post-conversion?


BP Friends,

From a LENDING perspective, how are you managing condo conversions where a single mortgage is already in place, and pay as little in transactional fees as possible?

  1. Create a new holding LLC and sell aggregate units to it
  2. Refi, buy out the old mortgage, and transfer all debt to one of the units
  3. Or......

Thanks,

Peter

Boston, Investor, Developer, Architect