Day two of Elevate 2024 brought together top industry leaders to discuss the latest trends, innovations, and strategies shaping the world of high-rise real estate. From mastering the complexities of vertical developments to exploring the evolving role of wellness and luxury in residential living, the day's panels offered invaluable insights into the design, sales, and marketing aspects of development.
Key topics included the importance of visionary design, the impact of technology on the real estate industry, and the growing demands for authentic experiences in luxury spaces. Industry experts, including visionaries from top real estate companies, architects, and wellness leaders, shared their expertise on how thoughtful building practices and branding can enhance both the living experience and investment value of their properties.
1. Vertical Vision: Mastering High-Rise Real Estate from Concept to Completion
The day kicked off with a bang, beginning with a panel moderated by Matthew Slutsky, vice president of business development at Zonda, and stacked with heavy hitters in the industry. Amy Ballon, director of sales at Tavistock; Hana Cha, founder and managing partner at HANA; Jeremy Gladstone, chief creative officer and founder of Gladstone Media; and Simon Mass, CEO and founder of The Condo Store Group of Companies spoke about the process of high-rise real estate from beginning to end, and what they believe to be the key aspects of development, marketing, and sales.
Mass said he believes that vision is as important, if not more so, than the location of a development, a sentiment that Gladstone shared as well. Gladstone also emphasized the importance of storytelling in real estate; he stated the goal of a luxury development should be to create an emotional experience, a narrative around the property to draw in the client. Both agreed virtual reality and artificial intelligence technology will play an important role in the future of development and sales.
Cha shared her belief that because of the differences in markets from city to city and country to country, knowing the target demographic from the beginning is critically important to success. Understanding the demographic and community of a given area that’s being considered for development is essential, she said. Ballon stated that a unique aesthetic and structure can help attract the target demographic.
2. Investing in Quality Pays Off: How Thoughtful Building Enhances Lives and Elevates Investments
The second panel of the day was a keynote from Pouyan Safapour, president and co-founder of Devron Developments. The driving force behind Safapour’s presentation was the idea that investing in “human” architecture is better for both health and the environment.
“Inhuman” architecture, Safapour said, can cause the body to enter a state of stress. He shared a story of his first development, which underperformed due to its boring, spartan aesthetic. The Industrial Revolution and world wars led to incredible strides in manufacturing and construction, causing the process for both to become more efficient. This, Safapour stated, caused buildings to become more uniform and boring. Severely reducing the human element of a development strips it of personality, and Safapour said he has made quality and human-centric architecture his focus.
3. A Conversation With the 2024 Architect Icon Award Winner
Paul Makovsky, editor-in-chief at ARCHITECT magazine, sat down with Gregg Pasquarelli, FAIA and founding principal at SHoP Architects and this year's Elevate "ICON Architect of the Year," to discuss the principles of design and innovation in architecture.
Pasquarelli was one of the minds behind Brooklyn Tower, the tallest building in Brooklyn. The massive hexagonal structure was inspired by Gothic architecture as well as the personality of the borough itself. Technology, Pasquarelli said, should be used in service, to innovate the process of design in architecture.
Pasquarelli also touched on the concept of “living” cities, stating that they need to be willing to adapt, change, and focus on sustainability. He discussed the Uber headquarters, which has a suite of sensors all over the building designed to open and close windows to help equalize the building’s temperature.
4. Branded Advantage: The Distinctive Features of Automotive, Hospitality, and Fashion Residences
Founder and president of Hundred Stories Robin Dolch moderated the fourth panel of the day with Fernando De Nunez Lugones, CEO and partner at Vertical Developments; Mikael Hamaoui, founder and CEO of Riviera Horizons; and Edouard Schwob, senior vice president development at Luxury Americas and Raffles and Orient Express Global and Accor.
Branding and its distinction between different companies and residences was the focus of the panel. Companies of all kinds, including fashion and automotive, have been breaking into the residential space, and the panelists discussed the importance of a brand to be more than just a name. The residence should be reflective of the brand in value and aesthetics, they said.
5. Marketing Playbook: All Square Feet Are Not Created Equal
Emmanuelle C. Slossberg, MArch, LEED AP and founder and chief strategy officer at Connect 10 Strategy was the moderator of the fifth panel, which featured Riz Dhanji, founder and president of RAD Marketing; the legendary Louise Sunshine, partner at Sunshine Select Worldwide, senior managing director at SHVO, and founder of The Sunshine Group; Christine Martinez de Castro, vice president of sales and marketing at CMC Group; and Adelina Wong Ettelson, global head of residence marketing at Mandarin Oriental Hotel Group.
Ettelson and Sunshine discussed the many emerging brands in the industry and the importance of pre-development planning. A brand should offer something, Sunshine said, or it’s just a name on a building. Ettelson stated authenticity and honesty are of great importance at the luxury level. It’s less a process of selling and more of showcasing to someone considering a high-rise place of living.
Dhanji and Martinez de Castro talked about event activations. While Dhanji stated he has seen success with them, Martinez de Castro said she believes they need to be implemented strategically or risk losing the message of the brand. Both agreed a good sales team will make the sales process significantly easier overall.
6. Navigating Disruption: Insights on Rentals, Regulations, Construction, and Capital
Zonda senior managing director Kimberly Byrum returned to moderate the sixth panel, featuring Harvey Hernandez, chairman and CEO at Newgard Development Group; Brad Meltzer, partner and president of Two Roads Development; and Jim Ratkovich, managing director at Salem Partners.
All three of the panelists agreed on the importance of collaboration and forming a team with the builders, vendors, and others involved with a given project. Hernandez stated his focus was on creating spaces that can be monetized by buyers, while Meltzer discussed the importance of evergreen design that won’t be out of date too soon. Additionally, Meltzer and Hernandez discussed their past as collaborators and briefly touched on their new joint project.
Ratkovich said he looks for specific data on specific markets. Seeing supply and demand in the location, he added, is helpful with planning projects.
7. Longevity is the New Amenity: The Wellness Revolution at Home
The seventh panel of the day was moderated by Dolch, who returned to speak with Susie Ellis, chair and CEO of Global Wellness Institute; Alfredo Gulin Neto, CEO of AG7; Matthias Hollwich, founder of HWKN; and Todd Shaw, senior vice president of business development at Fountain Life.
Ellis spoke about the global wellness economy, a $6.3 trillion industry, of which wellness real estate is a significant portion. Wellness real estate has seen faster growth than construction, she stated. She touched on the difference between healthspan and lifespan; while longevity is the end goal, she noted, quality of life is just as important as the length of time one lives.
Neto, Shaw, and Hollwich all discussed the merits of “wellness buildings” and what can be accomplished with them. Neto and Hollwich stressed the importance of living in a wellness building as an experience to improve one’s overall health. Shaw shared his goal of wanting to provide information to clients in a manner that can help push them toward a passively healthy lifestyle.
8. City, Sun, Ski: Exploring Premier Luxury Second-Home Markets
This panel consisted of Scott Baldasare, managing partner at Brick Capital; Jessica Gersten, founder of Jessica Gersten Design; Dev Motwani, managing partner at Merricmac Ventures; and Christian Toraldo, president of Caye Chapel Co., and moderated by Byrum. They discussed the purpose and merits of luxury second homes.
Retirees and individuals with high incomes are main targets, though the market is starting to see millennials expressing interest in these homes, Baldasare said. Location is another important facet, the panelists agreed, as most people who can afford a second home are looking for one in vacation destinations.
Motwani stated that while the demand for second homes is high, some buyers are looking to purchase what are traditionally second homes as their primary home. Toraldo and Gersten discussed designing homes in a way that encourages buyers to treat them as a home, reducing the transient element of rentals. All the panelists agreed on the importance and benefit of luxury clubs as well.
9. Setting New Standards for Resident Experience + Luxury Living
The ninth and final panel of the day consisted of Anna Zarro, founder and principal of AZ&Co and president of One Wall Street Sales; Krista Ninivaggi, principal and interior design leader at Woods Bagot New York; Robert G. Smith, president at FirstService Residential; Wendy Bosalavage, chief wellness officer at LIVunLtd; and moderator Brandon Donnelly, founder of Globizen.
A heavy topic of discussion was amenities and their importance and innovation. Community in amenities, Bosalavage said, helps make buildings more compelling to prospective buyers. All the panelists were of the same mind: Luxury buildings should have luxury amenities, and that means finding unique ways to separate them from the rest of the pack. The American Copper buildings in Manhattan were given as an example; a three-story skybridge connects the pair of skyscrapers, which includes a 75-foot pool and a luxury lounge for residents.
That concluded the second day of Elevate 2024, providing insightful commentary from industry leaders. To learn more about the event, sponsors, and speakers, visit architectmagazine.com.
