DEVELOPMENT CONCEPTUALIZATON

Evaluate how property developments/investments are activated, conceptualized, designed, delivered, and managed to maximize their value and return on investment.

Geoffrey Booth explains that Development Conceptualization “Is the laser alignment of real need with your development concept—the bringing forward of tacit knowledge as explicit knowledge applied such to ensure your development concept has a laser alignment to a real, as opposed to imagined, need. To truly complete the conceptualization process we must consider the following: The Unmet need, The Design, The Delivery, The Activation, and The Management of an asset.

During our LDEV 667 class, taught by Geoffrey Booth, our team was tasked with analyzing the Quadruple Net Value (QNV) of an Asset. Through this analysis, Team Dos was able to explore the Development Conceptualization process of Century Square. Century Square is a 60-acre walkable mixed-use development located across from Texas A&M University in College Station, Texas. The QNV of a space can be defined as the combination of the Social, Economic & Environmental sustainability, all while considering its Sensory value. The combinations of these 4 aspects helps to determine how people feel in such a space. With the consideration of not only Social, Economic, and Environmental sustainability, analyzing the various sights, sounds, textures, tastes and smells of a location, allows developers to truly create unique, valuable, and enduring spaces. The Development Conceptualization allowed my team to understand how MIDWAY use/uses these processes in completing their development(s).

As a team member, I analyzed the Social & Cultural aspects of the space as well as created our QNV video with iMovie. As a team, we were able to offer constructive criticism, critiques and comments on the overall QNV of Century Square. We concluded that The Century Square development hit the target, but not the bulls-eye. Both the video & presentation demonstrate the Quadruple Net Value, as well as the laser alignment between the built environment & need of the Century Square development.

Click on our Video and Presentation links to view a complete demonstration of our findings.