Seamless…in real estate problem solving and decision making - by Brett Pelletier

Brett Pelletier, Kirk & Company

The word of the decade might just be “seamless;” and if it’s not, it probably should be. The approach to integrating data and technologies, crossing platforms, and providing an end-user-experience that is dynamic, reliable, and predictable isn’t limited to Silicon Valley or Google HQ. We’ve all likely experienced the market’s increasing expectations of the availably of data, no matter where you are, and a modern workspace that includes both the physical plant and the network. Often times the network takes precedence. The way we work and the ways we play have a direct and real effect on how we build spaces, how we use spaces, and how we pay for those spaces. That hasn’t always been as true as it is today. We must remind ourselves, from time to time, that these changes don’t always impact 100% of the population. It is true that often these are the conversations between those on the leading edge; but the trickle down is felt. It’s a stark reminder of how much our lives have changed in such a short span of time. The first iPhone was released less than 10 years ago and now a recent PewResearch report estimates 2/3 of all Americans own and use a smartphone.

Ignoring these realities is no longer a viable option in real estate; if it ever was. The universality of our seamless technologies is evidenced in all property types. We see live/work spaces in luxury downtown high-rises, we see play spaces in new office buildings around the city, and we see Tesla charging stations and “juice bars” in public garages. We also see these trends in property types that may have previously flown under the radar. New construction and rehabilitated affordable housing developments consider, to the extent possible, these realities during planning and redevelopment. Users of these spaces are just as connected and benefit from enhanced access to technology and flexibility. There are, and should be, serious conversations about social empowerment just as there are about economic empowerment in housing. The recent conversations about Disparate Impact have provided an opportunity for real estate market participants to think even harder about these issues as they relate to affordable housing problem solving and sustainability models.

Municipalities and public entities are not immune to the impacts of these progressions, however, by nature, they are often slower to react. Nevertheless, towns, cities, community groups, and religious organizations are thinking hard about these movements and reacting through thoughtful planning, integration of public and private spaces, transportation infrastructure planning, and public Wi-Fi access and arts projects. Everything is connected, now, more than ever, both virtually and physically. Real estate problem solving and decision-making at all levels of the deal require a high-level view and a holistic approach if the project, neighborhood, and community are going to be successful and sustainable. Identifying and solving problems and making sound real estate decisions are the primary foundations of a ‘seamless’ deal. As arbiters and providers of impartial counsel, we continue to be an essential component in independently identifying solutions to complex real estate problems.

As the days get shorter and we move indoors, it becomes a perfect time to plan for the harsh New England winter and think hard about how these seamless platforms can work for you and others.

Brett Pelletier is a senior analyst with Kirk & Company, Real Estate Counselors, Boston, Mass.