CM&D Fieldnotes

Perla Condominiums, located in Washington DC, is a residential building with 66 residences and 6,756 SF of retail space.

856 Washington Avenue, located in Brooklyn, New York. is a new 26-unit, 14-story residential building with private and common rooftops, outdoor terraces and a cellar level.

200 Stovall Street, located in Alexandria, Virginia. is an office building being converted to 520 luxury residential units and 25,000 square feet of retail space

The current pandemic presents a wide range of challenges to the real estate development and construction industry. Uncertainty surrounding the duration of the crisis makes it hard for developers and owners to anticipate how a recovery could unfold.

While some have the means to wait and see what happens in the market, especially if they have several projects in the pipeline, others aren’t so fortunate.                                                                               

As projects are cancelled or delayed due to the pandemic rendering their projects financially unviable, owners and developers must take a proactive approach to repurposing plans.

As you contemplate whether to repurpose development plans for a different use, consider the following construction factors first.

Since March, the COVID-19 crisis has left its mark on a multitude of industries, including real estate, with many developers having to pivot project plans in order to be profitable.

As our industry slowly returns to work on job sites that were previously shut down by social distancing requirements, new processes and protocols will come into play to promote the safety of the places in which we live, work, eat and play.