mark peters, aia
studio dwell architects, chicago
www.studiodwell.com age of firm: 6 years (in June)
firm specialty: Custom single-family and multifamily residential (including mixed-use)
staff: 3 (2005); 6 (2008) 4 (2009); 5 (2010, projected)
total revenue: $237,000 (2005); $492,000 (2008); $260,000 (2009); $450,000 (2010, projected)
completed projects: 8 (2005); 10 (2008); 5 (2009); 7 (2010, projected)
When we spoke with Mark Peters, AIA, last year, he was most concerned about the viability of out-of-state projects, but as the year progressed, even his Chicago base let him down. Work on all six custom homes stopped, although two—possibly three—have since been revived. The damage didn’t stop there. When four on-the-boards multifamily projects also went on ice, Studio Dwell fell back on small additions for cash clients, feasibility studies for developers, and finishing up work it had begun in 2008.
Now, though, potential jobs are starting to percolate, including a seven-unit townhouse and a 40-unit rental rehab for private developers. “We’re working with a lot of developers now who want to be ready with something in 2010,” Peters says. “We didn’t see that at the beginning of 2009.” Project scopes also are more ambitious going forward. Studio Dwell is anticipating the green light to begin design work on two international projects, in Panama and the Caribbean, that mix retail, condos, and rental units. Although financing is still tight, Peters share his clients’ optimism. “A couple of big projects like that could double the office,” he says. “We’ve got a lot more things in planning than we had last year, so if any of them pop, we would hire people back.”
