INTERIOR ARCHITECTS BUILD RESIDENTIAL RENOVATIONS
By Donna Klein, nyarm - Alexander Marketing

The New York Association of Realty Managers' (NYARM) first monthly membership meeting of the fall season was held on Wednesday, September 26 at Tavern on the Green. Despite the recent tragic events that have affected us all plus the coincidence of the meeting falling on eve of Yom Kippur, a Jewish holiday, nearly 70 members and friends attended the luncheon meeting.

This may have well been due to the presence of guest speaker, Eric Regh. Mr. Regh is managing principal of the New York and Washington D.C. offices of IA, Interior Architects. IA was ranked the number one architectural firm for financial institution design, for the fifth consecutive year, by Interior Design magazine. In addition, this same publication ranked IA number two in the top 100 giants of interior design. IA has 16 offices nationwide with international offices in London and Hong Kong. IA specializes in providing commercial, hospitality and retail design specific to the client's schedule and budget. Their consistent level of service and satisfaction fulfills the needs of the most demanding customer challenges.

Mr. Regh, along with colleague Ellen Rollins, managing principal of IA's Denver office, discussed an ongoing project for AIMCO, a residential Real Estate Investment Trust (REIT). AIMCO firm owns and manages 3,000 properties nationwide and is currently renovating the kitchens and bathrooms as the apartments become vacant in order to increase rent revenues.

Through strategic planning and design, IA designed four sleek, modern and functional concepts, the Sophisticate, the Naturalist, the Urbanist and the Traditionalist. More than half of the properties chose the Sophisticate because the demographic in most of the AIMCO properties, which tend to be middle income, rather than luxury, was younger. In order to keep costs within reason AIMCO has purchased the new fixtures from a national retail chain and is using local contractors to install the units. In addition, IA set up a computer system on the web (iaportal.com) so that AIMCO, the contractors and IA would be able to keep track of shipments and renovation schedules.

"Everybody has access to information," stated Mr. Regh. "We do this through a vehicle that is very straightforward, very easy, called the Web. There is the ability to keep people more informed, give people access to information on a need-to-know basis."

The ongoing project consists of 19 AIMCO sites, some prewar, some postwar, that are slated for immediate roll out with completions called for 2002. With 10,000 units per quarter under construction, the program includes the installation of full bathrooms, kitchens, painting, carpentry, etc. Mr. Regh pointed out that one of the most effective aspects of the entire project is the use of local contractors, in lieu of national firms. "In some areas, there are contractors who show up with just their pick-up trucks, their tools and a couple of helpers."

The goal in the renovations was to create more light and bigger space. In selected apartments, walls were knocked down to make the living room and kitchen one, thus giving the impression of a more spacious area. Lighting was upgraded in all the units. As bathroom, and especially kitchen remodeling is a proven marketing tool, AIMCO believes that the program will give them a quick return on their investment. With rents ranging from $750 to $2000, AIMCO expects an average rent increase of $100 per unit per month for renovated apartments.

Ellen Rollins joined the discussion to describe the concept behind using pre-packaged, factory direct appliances and cabinetry including local labor. Realizing there would be different rates in each region, especially regarding labor, IA elected to purchase the furnishings in bulk and everything was "boxed" so what wasn't pre-assembled, could be assembled and installed quickly and cost effectively. This philosophy has proven effective in keeping costs down and efficiency at a maximum.

"At the executive level, project management is controlled by the property managers of the individual sites," stated Ms. Rollins. "With outline specifications tight enough, we can basically control the cost of installation, since the cost of materials is standard."

Eric Regh brings nearly 20 years of experience to his position as managing principle of IA, New York. Mr. Regh is know for his architectural designs in some of the most prominent venues worldwide, including the Washington D.C. Metropolitan Police Force, the 100,000-square-foot Shanghai Clubhouse and Quilty's Restaurant in New York. In addition, he is responsible for the strategic planning of a two-million-square-foot portfolio for Capital One.

Mr. Regh joined IA in 1996 and before that, was with the firm of Michael Graves Associates, where he worked on both residential and commercial projects. He holds degrees in both architecture and environmental design from Auburn University.

Ellen Rollins has 16 years of experience in the design of interiors for Fortune 500 companies, as well as tenant development for major national developers and building owners. Ms. Rollins has been widely recognized for her innovative planning and design solutions. She has received awards for design and has been responsible for such accounts as Chrysler Corporation, Mobil Oil and MCI.

A graduate of Tulane University and the University of Texas at Austin, Ms. Rollins has served as a vice president of EDI Architects in Dallas, Texas; director of design for Dewberry and Davis and senior associate with Greenwell Goetz Architects. She is also a past president of the Washington Chapter of the International Interior Design Association.


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