The city is evolving, generations of residents are changing, and new economic factors are influencing the sustainable operation and development of existing properties. Therefore, renovation, redevelopment, revitalization and gentrification of urban spaces have become one of the key focuses for both the government and businesses. Increasingly, RE specialists are targeting not only physically outdated districts and separate buildings but also facilities constructed more recently, which have already been rendered obsolete, have lost traffic and are standing half empty. Experts in the real estate market discussed how the cityscape was changing and what formats awaited existing commercial real estate properties at the “Redevelopment: A New Story” conference hosted by Kommersant.
Specific features are also observed in the management of redevelopment properties. Dmitry Osipov, the Chief Technology Officer of O1 Standard, shared some of the management specifics.“Often, there are multiple owners within a single territory, and their networks are interdependent. Easements and mutual obligations arise, which need to be clearly defined and observed. For instance, division of operational responsibility, provision of access to titled property for use, maintenance, repair, reimbursement of costs for operation of certain facilities used in the interests of several parties. All these factors pose certain challenges for the management company.
Moreover, a group of buildings usually occupies a territory with different floor levels, construction periods, and architectural styles. This diversity of facilities in management leads to a larger variety and types of equipment required.
The architectural features of buildings, the absence of the typical ‘core’ with vertical communications found in new office buildings, and the floor-by-floor distribution restrict planning flexibility. Additional requirements for fire safety assurance, development and implementation of special technical conditions for fire safety arise during operation.
The location of buildings further complicates the approach to their management, since office centers, for instance, have a certain impact on the urban environment and infrastructure. As redevelopment properties are located in the city center, they are surrounded by dense residential areas. Consequently, additional measures are required to ensure sound and noise insulation for office buildings to reduce discomfort levels for the residents.
Separate attention should be given to security obligations for buildings of cultural heritage. Unique architecture imposes great restrictions on the flexibility of use of the building itself and requires close attention to its special technical conditions. All of these aspects represent only a small part of the fundamental features in management of redevelopment properties”, the expert summarized.