By Pam Brenner
With business needs clearly defined and a building selected for renovation, decision-makers should proceed with the development of design and facility objectives. Questions to ask include:
- How much space will we need?
- What will our business be?
- What deliverables will we produce?
- Who will our customers be?
- How will we communicate?
- How will technology impact the workers?
- How will space support the technology?
- Can the infrastructure support increases and decreases in the workforce?
- Will workforce needs change?
- What will be the financial considerations?
- What are tax liabilities likely to include?
- Will depreciation limitations prevent efficient renewal?
- Will the day-to-day churn rate change?
Flexibility, speed, and cost often emerge as the top objectives. If, for example, a developer seeks to lease space after renovation, long-term flexibility will top the priority list. If the renovator seeks to occupy the space to meet business deadlines, speed will drive the fit-out strategy. If the renovator is also the sole tenant of the building, cost and tax considerations may be a top concern.