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REAL ESTATE DEVELOPMENT COSTS
Inspection Fees
1. (based on Full Time Equivalent FTE): field supervision costs and fees for permits
Architectural and Design Fees
2. (6-8% CC): architecture and engineering development costs, including feasibility study, master planning, and design
Land and Real Estate Costs
3. (2% CC): legal process, land acquisition and improvements, and real estate research
Construction Equipment, Rentals, and Tools
4. (parametric costs/functions): soft costs, so services not directly related to the final project delivery
Loan Interest and Accounting Fees:
5. financial transaction fees
Project Management
6. (2-3% hard costs): remuneration for the staff that handle all construction with related documentation and drawing as well as for security and safety staff
Construction Insurance and Professional Dues
7. (0,1%/year hard costs)
Local and State Taxes
8. Advertising
9. (based on FTE) Additional Works and Studies
TYPES OF HOTELS AND CATEGORIZATION 8
A hotel is a building that provides accommodation.
The hospitality industry offers services, facilities, and unique features such as a swimming pool or travel assistance, typically for short stays. It is one of the oldest commercial activities and plays a vital role in the travel and tourism business.
Hotels can be classified in different ways based on the diversity of services and facilities they provide:
- Star classification: This rating system was launched by Forbes in 1958. Typically, hotels are rated from 1 to 5 stars, rarely exceeding 5. Each star is awarded based on specific criteria. Hotels with fewer stars generally offer poorer services.
- Based on size: Hotels can be classified as small (<200 rooms, boutique hotels), medium (200-399 rooms), large (400-700 rooms, convention and airport hotels), or mega (>700 rooms), based on their general size and number of guest rooms.
- Based on target market: This classification varies based on the market needs of modern travelers and does not have a specific number of typologies.
Consider factors such as the kind of product to keep in stock, in terms of quantity of storage and time length, the shape of the building, and the sortation and automation systems. It is fundamental that the interior design is efficient for the production and transport truck flows. These factors affect the life of the building, that normally is about 50 years, avoiding the obsolescence and the high costs of renovation.
Beyond the market analysis, for the construction phase are fundamental the standard activities related to the construction of a building, like the on-site inspection, and the building permission requires a minimum of 3 months and a maximum of 10 months. The BIM approach is useful to control all the construction phases including the documents.
ESG criteria are used to measure environmental (climate change), social (human rights), and governance (meritocracy) impacts, to highlight the sustainability of a company, and the last few years most of the companies look at these criteria.
Over the financial aspects. LEED and BREEAM are two protocols that certify the reach of sustainability goals by the company.
OFFICES & WORKPLACES
The industrialization era is characterized by the production of goods and blue-collar factory workers, while the post-industrial era is characterized by the production of knowledge and white-collar office workers. In America, the offices of the post-industrial era were characterized by large open floor spaces, orthogonal desks, and cellular offices that are only for managers. The layout was employees in open plans and supervisors in glazed rooms along the perimeter.
In the 1950s in Europe, the offices' layout was like a classroom with a central corridor with rooms on both glass boxes sides. The buildings came with the rebuild of the cities in the modern style, and it was decided to realize a smaller scale of office buildings in order to preserve the historical character.
Experimental offices
In the 1970s in Continental Europe, were born the where, due to
The employees' complaints were characterized by extensive regulations (use of space, secure access, and outside view), preference to cellular offices, and owner-occupation of 2/3 of office buildings. In the United Kingdom, the situation was different with the employees that had no formal rights, the office market was dominated by developers, and less than 1/5 of office space was owner-occupied.
In the 1990s, virtual offices were born due to the changes in information technology in terms of hardware and software, the organizational developments, and the ideas of telecottages (work everywhere). In Continental Europe, cost control gained importance and the offices' layout was based on teamwork and interactions. In the United Kingdom, there were cost-driven changes that made offices characterized by open plans and desk sharing. The offices' style moved away from the US one, but they suffered from employees' absenteeism and dissatisfaction.
Space and activities classification: the various
types of activities carried out by users can be identified in cluster and can be combines with different types of space, where workers have different behaviors. The activities and relative spaces are:
Focus:
- workspaces that support routine and concentration activities, such as works carried out from one workstation
- closed-private office: it permits silence and concentration, personalization, and security feeling, but isolates the individual and promotes the hierarchy
- cubicle workstation in open space: it permits privacy and at the same time the contact with colleagues but there are reciprocal annoyance and dispersive environment
- hoteling (bookable desk sharing) and hot-desking
Create:
- workspaces that support creative and collaborative activities, alignments and moments of sharing and breaks
- Project room in phone booth: privacy and discretion
- Touch-down area: fast exchange and temporary activities
- Break area
Deliver:
- workspaces that support activities
As meetings (even remotely) and presentations are carried out between more or less numerous groups, the meeting room should provide concentration and confidentiality. It should have 10 support workspaces that support complementary activities such as archiving documents and materials, copying and printing files, etc. Additionally, there should be areas such as a copy area, locker area, waiting area, and welcoming area.
The more open the workspace is, the more frequent the interactions are, but also because they are shorter. This is in line with the space planning trends.
Regarding the main characteristics of modern offices, they are task-oriented, meaning the workspace provides basic functions for productive working. They are also hyper-collaborative, supporting collaboration and learning through the elimination of barriers and hierarchies. Lastly, they are purpose-driven, supporting a range of employees' lifestyles (work-life integration) in terms of inclusivity and social responsibility.
The multi-location of work is the future of the business and allows a variety of choices of spaces.
where all the information is accessible everywhere. The workplace itself has largely transformed from physical asset to a service and private homes became a place of telework. Workplace services encompass services outside the core offices of an organization.
Covid-19 pandemic, Due to the the number of employees that work from home increased, as the number of meetings. The built environment is monitored through:
- Utilization: the average amount of time different types of spaces are occupied
- Density: a measure of intensity of building use
- Vacancy: available space for lease divided by the total space in the defined market
Coworking spaces are places where people from different fields work under one roof, so places for work alone, but together. It is expected that the flexible workspaces reach to cover 30% of the US office rental WeWork market by 2030. gives to a large range of types of workers the possibility to rent out every kind of workplace, from a desk to a private floor.
STUDENT HOUSING AND
STUDENT ACCOMODATION SECTORSStudent housing model transformation:
Collegium:
- an historical courtyard building of religious purposes
Dorms:
- modern and post-modern period building of study purposes
Multifunctional Student House:
- new, refurbished, or restored residential building of study and residential purposes, with common spaces
Hybrid Student Accommodation:
- same of Multifunctional Student House plus hybrid spaces level of hybridization
The changes in according to the users (students, tourists), the functions (student houses, hotel, coworking), and the spaces (offices, classrooms).
public sector
The provides public funding for the construction or renovation of public student houses following some project requirements, such as the minimum