Building Economics Report

Page 1

B.U. BUILDERS & CONSULTANTS PVT. LTD.

BUILDING ECONOMIC REPORT FOR URBAN HERITAGE AREA PROJECT REPORT AbstractThe paper contains a building economic report wherein the developer plans to build an office building complex along with certain other infrastructural facilities. This report will throw light on the various economic benefits of the existing structure. Furthermore, the new buildings proposed for construction must have sustainability features. The merits of green buildings and their economic impact are shown. The site is located in an urban area. It is considered as a landmark and demonstrates rich cultural heritage through its infrastructure. It is a 10-acre hospital building with several floors built of stone. Due to cultural quality, the place is a tourist attraction. The purpose is to enlighten the client about the historical importance of the existing structure and convince him/her to retain the building or at least some parts. Also, the client has to be told about the LEED certifications.


Building Economics 1

BUILDING ECONOMIC REPORT FOR URBAN HERITAGE AREA Dr. Utpal Kumar Nandy1, Mrs. Shravani Nandy2, Ar. Antara Nandy3 1

C.M.D, B.U. Builders & Consultants Pvt. Ltd, ‘NILANJAN’, D1/114, Sector-IV, Vinay Nagar, Gwalior (M.P.)-474012, INDIA 2 Director, B.U. Builders & Consultants Pvt. Ltd, ‘NILANJAN’, D1/114, Sector-IV, Vinay Nagar, Gwalior (M.P.)-474012, INDIA 3 Executive Architect, B.U. Builders & Consultants Pvt. Ltd, ‘NILANJAN’, D1/114, Sector-IV, Vinay Nagar, Gwalior (M.P.)474012, INDIA Email: bubuildersconsultants@gmail.com

Abstract The paper contains a building economic report wherein the developer plans to build an office building complex along with certain other infrastructural facilities. This report will throw light on the various economic benefits of the existing structure. Furthermore, the new buildings proposed for construction must have sustainability features. The merits of green buildings and their economic impact are shown. The site is located in an urban area. It is considered as a landmark and demonstrates rich cultural heritage through its infrastructure. It is a 10-acre hospital building with several floors built of stone. Due to cultural quality, the place is a tourist attraction. The purpose is to enlighten the client about the historical importance of the existing structure and convince him/her to retain the building or at least some parts. Also, the client has to be told about the LEED certifications. Keywords: Building Economics, Infrastructure, Sustainability, Urban Area, Heritage, Historical Place, LEED Rating. Introduction This site is located in an urban area. It is considered as a landmark and demonstrates rich cultural heritage through its infrastructure. It is set in a 10 acre city centre site. The land consists of a pre-built hospital building with several floors built of stone. These structural are supposed to have been built in the year 1990. Due to its cultural and historical quality, the place has become a tourist attraction. Therefore, it won’t be wrong to consider the site as a gold mine.

need to be guided towards achieving maximum profit to the client out of the land. Hindrances towards achieving the set target The greatest hindrances towards the new construction proposal have arisen from the planning authorities and conservation groups. These authorities do not permit the developer to construct new structures after razing the already existing hospital building. The reason behind this is the fact that the existing building has an established reputation for its historical, social, architectural and cultural qualities.

Proposed plan The client has proposed to build contemporary use office space, retail, apartments and a hotel. To generate space for building these elements, the client intends to demolish the existing hospital building. Purpose The primary objective is to utilize the available space in a manner such that most beneficial conditions can be developed. All actions

Fig. 1: The Site & its Geographical Neighborhood area


Building Economics 2 Analysis of the site conditions After a careful investigation, it has been found that the hospital building is well built taking many architectural aspects into consideration. The building has been built more than a century ago. Despite this fact, the building is still adequately strong and stable. Therefore, it stands as an example of strength and solidarity. The surroundings have a rich and diverse tradition and cultural background. The traditional tone of the building accentuates the historical and cultural significance of the place. It has the potential to generate a good share of revenue owing to its recognition and tourist importance. Furthermore, the location of the site and it orientation enhances its worth. The site is situated in an urban area. Therefore, it has sufficient access to plenty of facilities. The infrastructural features in and around the site and the surrounding areas is considerably developed. The prime location of the site imparts it the several positive attributes and makes it growthpromoting for the users. All these distinguished features of the site can act as key criteria promoting growth, development and profit options. These elements particular to the site and the building must be adequately and efficiently utilized. It is in the benefit of the area in general and the developer in specific to tap pre-established parameters of the site.

that all of these buildings are necessary requirements of the society. Apart from this, owing to their respective functions it can be stated with ample confidence that these buildings have the ability to generate a good amount of business, perpetual growth and profit for the owner. Therefore, any such constructional activity on a site of this nature is always beneficial and is thus advocated. Recommendations As stated above, the significance of the site is par excellence and the proposal of constructing newer elements onto the site also bears progressive motive. However, our point of concern here is the existence of a pre-built structure which had been built years ago and is the prime reason for the enhanced significance of the site as an element of interest amongst the masses. To reach to a convincing and lucid solution, it is recommended to build the new structures while allowing the ancient structure to stand elegantly in future as well. The next concern that arises from this deduction is the fact that any building of such massive scale when left free and vacant can pose serious threats to the society. It can lead to the incidents such as thefts, burglary etc. and therefore it is essential to address this situation. The best way to do so is to incorporate the building in the proposal plan and make use of its availability, space and scale.

Scope of new developments in the site Due to the location of the site in an urban area and its established status as a landmark, it can be predicted that any developmental activity is likely to thrive well. Therefore, the developer’s intentions of building structural elements of public usage stand excellent chances of achieving success and hence generate large amounts of profit. The new building members proposed for construction include an office space, retail, apartments and a hotel. It comprises of a combination of official, residential and buildings for public usage.

Fig. 2: Access & Transportation

Looking at the function that each of these buildings is expected to serve, it can be deduced

This structure because of its historical and architectural merit has already been an element of interest for the people. If this building can be given a purpose, it will become possible to bank on its pre-established reputation. It will also act as a medium to appreciate the history and traditional value of the place. Mere infrastructural development alone, no matter how big and grand the structure may be, is insufficient to grab the attention of the masses for a long time. People tend to lose their interest levels rather easily. However, they can find themselves to be more attracted towards a building that carries with itself a vast historical background and plenty of design elements to explore. Places bearing a rich and vivid history are much more marketable. Thus, it is much more prudent to not just retain the ancient building but also involve it in the entire mechanism of development. This historical building must be shaped in a new paradigm acquiring a contemporary and novel meaning. The investment carried out in the restoration, improvisation and modernization of this building can provide long term dividends. It is highly recommended to conduct an extensive research on the history of the


Building Economics 3 place and the structure and to re-awaken its old traditions while imparting a contemporary and the modern side to it. To illustrate it further, St. Pancreas can be regarded as a good example (see fig. 1).

Fig. 3: St. Pancreas (PD-ART, 2005)

Another significant outcome of retaining the ancient building will be the simplification of planning regulations. Since the common good of the state and the society is achieved when the structure is retained, the permissions shall be granted rather easily and also this process will meet its completion in a relatively much shorter time frame besides reducing controversy. It will help in saving the time and money which would have otherwise been spent on the professional fees charged by the authorities. To further facilitate the processes, it is advisable to enhance the sustainability aspects of the site. This can be carried about by planting more

trees on the site and increasing the green cover of the area. Other measures may include incorporation of the renewable and alternative sources of energy for meeting the energy requirements of the proposed buildings. The amount of materials used for building these structures must be kept low and should be compulsorily checked against the durability criteria and the forms should be so chosen that they possess the ability to withstand load and weathering conditions to an appreciable degree. All these factors will ensure sustainability and reduce carbon foot-print. This in turn will again facilitate the processes of acquiring permissions for site development. A further point of consideration includes changing regulations and legislations. Any developmental activity can be carried only after having ensured that the relevant permissions have been granted and these regulations are continuously updated. Every time the legislations get updated, a new application needs to be sent to the authorities seeking for permits which makes the whole process cumbersome and will greatly reduce the pace in which the activities are being carried out. Any design or planning target should be fixed only after having considered the present laws. Also, trends and variations in these legislations should be estimated for at least a period of five years from present. Adequate measures in the direction of sustainability and in the inclusion of the environment friendly measures will strengthen its position in the long term.

Retaining and building restoration Plant more trees on the site and expand its green cover

Ancient Building

Introduce modern design and functionality elements while retaining its traditional tone.

LEED certification Permission from planning authorities

Reduction in land property tax due to reduced dependency on the city’s basic needs like water and electricity

Fig. 4: Flow-chart elaborating the key aspects

Increased marketability


Building Economics 4 Primary Parental Forces in the Nurturing of a Budding Architect’s Soul. Research & Reviews: Journal of Engineering and Technology , 4 (4), 1-8.

Conclusion From all the above mentioned evidences, it can be concluded that it is highly favorable both the developer and the planning authorities if the ancient building is retained. Moreover, it has been observed that the building is quite ready for a new lease of life. It is in the interest of the developer to utilize and incorporate the structure in his design implementations. The building designs and the site developments must ensure maximum sustainability elements. It can help to raise the market value, enhance its appeal for tourists as well as make it easier and feasible to get the requisite permissions from the planning authorities as well as the conservation groups.

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Nandy, A. (2015, November 17). How Much Area Does Your House Cover? Find Out.. Retrieved November 17, 2015, from Bizcovering: http://bizcovering.com/business/howmuch-area-does-your-house-cover-findout-2/

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Nandy, A. (2015). Judicious Integration of Research and Professional Practice with Architectural Education: The Two

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Nandy, D. U., Nandy, M. S., & Nandy, A. (2015). Chemistry in Civil EngineeringNew Products and Applications. Journal of Civil Engineering and Environmental Sciences , 21-27.

10. Nandy, U. K., & Nandy, A. (2016). Design and Feasibility Analysis of Solar PV for Domestic Households. In K. Sudhakar, & A. R. Siddiqui (Ed.), 4th National Convention on Hydrogen Energy and Advanced Materials (pp. 65-73). Bhopal: BS Publications. 11. Nandy, U. K., & Nandy, A. (2016). Materials, Tools & Technologies to Enhance Efficiency & the Green-Quotient of Smart Buildings. International Journal of Engineering Research , 14-17. 12. Nandy, U. K., Nandy, S., & Nandy, A. (2016). Building Foundation Engineering. Gwalior: Lulu, Inc. 13. What is green building? Fundamental principles of Green Building and Sustainable Site Design. (n.d.). Retrieved October 1, 2015, from Building green in Pennsylvania: 12_8_what_is_green_GGGC.pdf 14. Yakovlev, G. (2013). Modification of Construction Materials with Multi-Walled Carbon Nanotubes. 11th Int. Conference on Modern Building Materials, Structures and Techniques (pp. 407-413). Elsevier.


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