How our in-house architectural team speeds redevelopments
Real Estate development is a delicate process. Done correctly--with clear and concise master plans that show how a development ties into a local community and will serve its needs for years to come--it can build trust and goodwill with customers and city officials. Done incorrectly, with constantly changing designs and specifications, it can fly red flags in the community, build mistrust ,and jeopardize a project’s chances of making it past the conceptualization stage. There is no in-between.
As the former co-leader of the mixed use and retail centers practice at Gensler, one of the world’s largest architectural firms, I saw many projects die on the vine. While their intentions were good, real estate developers were oftentimes forced into presenting master plans that needed more thought and input. Yet, because the design part of development often relies upon third-party architects and design professionals who work on their own timelines, the process is frustrating. Developers have to wait days, sometimes weeks, on updated design plans and renderings. Such delays are costly and can lead to developers making their plans public before they should.
This is why I decided to leave Gensler and accept the opportunity to form an architectural design studio at Pacific Retail Capital Partners, one of the most innovative companies in retail development. I wanted to use the 27 years’ experience I gained working with developers such as GGP, Westfield, and Brookfield to help PCRP speed up their efforts to evolve real estate for the next generation. I felt that having the ability to operate under the same roof as all the decision-makers involved in the development process – design, finance, asset management, and leasing to name a few – would allow me to benefit from a stream of efficiencies while designing master plans that will transform retail as we know it.
The studio’s entire focus is on helping PRCP move projects from conceptualization to construction more quickly. Our team works behind the scenes to ensure our master plans are thoughtfully designed and anticipates any potential obstacles before they happen. Our work allows those presenting our vision to public or city officials to be better informed and more prepared. That means fewer changes made in the initial design and quicker start times for construction.
An excellent example of our team's impact played out at Yorktown Center, a 1.4 million-sq.-ft. mall that we own in the western suburbs of Chicago. With all the teams involved in the redevelopment process working out of the same office, we were able to work swiftly to come up with a master plan for the former Carson’s anchor box that incorporated the feedback of all parties. Our inclusion of 600 multifamily units and a public park addressed two of the biggest issues plaguing the Village of Lombard: the need for housing and green space. Approvals came quickly.
PRCP's core values include pushing the envelope and trying something new. We design innovative and tailored master plans to meet the needs of a specific community or market. Our team has the creative freedom to be bold and visionary, and if what we conceive is too much or too little, we can easily consult with our development, asset management, and leasing counterparts – all located just down the hall from us.
Going in-house with PRCP has helped me see design from a different perspective and understand how I can use my knowledge as both a third-party and in-house design consultant to benefit the entire real estate industry. Our architectural design studio is a resource for all developers and retailers, and we encourage anyone in development to reach out to us to see how we can help expedite their projects while saving costs and delivering financially viable designs that meet their goals and objectives.
Annmarie Plenge is the executive VP of design at Pacific Retail Capital Partners, a Los Angeles-based owner-operator of more than 20 regional and super-regional centers nationwide.