Mitigating Risks - The Missed Opportunity in Interior Design
When it comes to interior architecture and design, laying a solid foundation is key to the success of any project. Whether you are the developer, architect, designer, or construction manager, acknowledging and reducing potential risks can make all the difference to the stakeholders’ ROI, lease-up and sales, and ultimately the designer's reputation. At Faulkner Design Group, we have created timeless designs while mitigating risk for our clients for more than 30 years by ensuring that every design is expertly thought through down to the smallest detail. We understand how crucial it is for our clients to feel secure knowing that their projects are in the hands of the best in the industry. Read on as we guide you through examples of how we have successfully mitigated risks and how it enhanced the overall project, timeline, and quality all while staying on budget.
ID Document Coordination
When it comes to risk mitigation, one of the biggest obstacles that developers face is document coordination. This phase of the design is time-consuming and complex because the documents are produced by different consultants, architects, and designers, using varying systems and software. At Faulkner Design Group, we invested heavily in technology early on and continue to do so to ensure that drawings are well-coordinated from the start. We have a thoroughly defined process to maintain the organization and accuracy of ID documents throughout the entire project. This allows for a potential cost-saving benefit to our clients by doing our part in preventing unknown expenses in the future. One macro example of this would be on change orders in the field. Without a quality set of ID plans that detail specific information and functions, the construction company may not interpret the design intent correctly. This leads to inaccurate estimates and cost overruns during construction. At Faulkner Design Group, we strive to ensure that our projects are well-coordinated from start to finish to prevent any costly surprises down the line.
Unit Plans
Another major area where our expertise contributes to risk mitigation is unit layout. At Faulkner Design Group, we understand that the residential units are one of the most important aspects of a project because they significantly impact lease up and sales of a property. We have more than three decades of experience reviewing, analyzing, and designing successful unit plans. We pay close attention to detail while viewing floor plans from multiple perspectives to create layouts that are resident-friendly, aesthetically pleasing, and functional. This includes looking at common traffic patterns, door swings, sight lines from bedrooms to living rooms and outdoor views, hallway widths for ADA compliance, window placements for natural lighting needs as well as energy efficiency purposes - all with an eye for keeping the budget on-track. By developing intuitive yet efficient layouts that maximize livability while minimizing building costs, our clients experience faster absorption of their projects which leads to higher returns on investment.
See the above and below photo which shows how we marked up original unit designs to maximize the space to better utilize the wonderful views of the river/harbor.
Creative Finishes
We understand that creative finishes are an important part of setting a property apart from competitors. Selecting creative finishes not only increases the aesthetic appeal but also adds to the functionality and sustainability of a space. At Faulkner Design Group, we take pride in collaborating with our clients to develop custom-tailored solutions that reflect their goals while remaining within budget. We work closely with vendors to source quality materials and finishes that add value while helping to create memorable spaces. This might include wood vinyl flooring instead of carpet, durable wall coverings, specialty ceiling treatments, and recycled/reclaimed furnishing options. By carefully selecting products with long-term warranties and resiliency to wear and the effects of cleaning protocols, you can rest assured that your investment is protected.
Interestingly, carpet is the single highest operational cost for our properties. With this in mind, we sought to develop a carpet that was durable enough to cut down on the need for replacement and cleaning so often, met our requirements for production and shipping timelines, and was of course, aesthetic as well as versatile. At this point, we had the opportunity to work with Metro Mills to create the perfect commercial flooring in Berber Fleck. This was later sold to Mohawk and is one of the most well-known commercial carpets in the industry. We did this solely to benefit our clients, their developments, and the industry —alleviating lifecycle costs and mitigating risk.
Absorption and Retention
When designing a space, it’s essential to create inviting and engaging environments. This facilitates a higher absorption rate within a community and reduces the risk of resident turnover. At Faulkner Design Group, we specify products that meet or exceed the most stringent code requirements. Long-lasting, quality materials keep the communities we design looking new for a longer time which helps to improve retention rates. We know that smart, creative design combined with the right FF&E products will result in lower maintenance and operating costs, and ultimately, satisfied residents.
Turnkey Solution
Finally, the biggest risk we faced during our first decade of design was a lack of oversight for the delivery and installation of our projects. This led us to the development of our warehouse and FF&E installation partner - DESI in 2001. Having a dedicated team for installation, project coordination, and delivery services allows us to offer a turnkey solution that saves our clients’ money and provides us with quality control throughout these crucial phases of a project. With DESI, we have the flexibility to shift and adjust plans if ongoing construction precludes move-in and we must postpone an installation. If a designer has contracted with a third-party installer, they may be booked up and you have to search out a less qualified vendor to store, move and install a project, which can lead to damage, loss, and unnecessary wear and tear on FF&E. At Faulkner Design Group, we have the flexibility to ensure that the design intent will be met with professionalism. With over 32 years in the business and nearly one million units, we have the experience to mitigate the risks associated with multifamily and senior living properties.
Ultimately, our projects are much more than a number on a page; they represent an investment into your future. At Faulkner Design Group, we strive to ensure that our clients get the most out of their investment while minimizing risk through careful planning, attention to detail, and quality materials. With us on your team, you can rest assured knowing we have built success for you today and into the future! Contact us today to learn more about our process and schedule a call to discuss your next multifamily, senior living, or high-end residential design.
