I like to see an organization do something just because its the right thing to do for their clients…not just trying to improve their operational metrics.  Princeton Property

No one associated with this blog is a stakeholder, nor have they received payment from anyone cited for excellence.  Previous posts have celebrated Holly Bray/Love Funding, David Moore/Equity Advantage, John Adams/Logo Products, Montage Restaurant, Chinook Construction, and more.  If you think someone is delivering excellent not just good…let us know and perhaps we’ll celebrate them here.  Contact Rick Bean at: 503.577.1034 or rick@rosecitycre.com.

Management’s aggressive approach to lowering property taxes for it’s client’s properties is an example.  They’ve done a superior job of supporting tax reduction advocacy.  And they have taken the extra effort to be certain that each asset they run is reviewed for possible reductions.  The irony is that most of  Princeton Property Management’s clients won’t even know about the extra effort that Princeton has expended…but that’s why I’m citing Princeton for multifamily management excellence.

Remember that the norm is for management companies to get paid on gross revenue.  While successful property tax reductions pay off handsomely for the owner, the property management firm is not compensated or even acknowledged.  Vice President Liz Zuanich is heading up the effort, but she also  has enlisted and received the support of the entire organization in pursuit of lowering property taxes.  That’s how things ought to be done!

From what I’ve observed, the overused word “excellent” is appropriate when discussing Princeton Property Management.

It makes good sense to build green for the sake of the environment, but building green is also a good business decision as well.  Green sells.  Rob Boydstun of Miranda homes has combined a number of existing methods and technologies into a truly remarkable home.  Imagine being able to build a price-competitive home…that is also LEED Platinum?  Or going from dry foundation to having exterior walls, interior walls, siding, and and rafters in place in 72 hours?  Or building the entire structure in 41 work days?

Never one to rest on his laurels, Mr. Boydstun has directed his engineering team to recreate the way multifamily projects are designed and built. 

Contact us if you’re an investor or green enthusiast interested in learning more about Miranda’s revolutionary  multifamily building techniques.  Their methods are going to be utilized in a 40+ unit technology demonstrator project that will be breaking ground on Portland’s East side later this year.  rick@rosecitycre.com or 503.577.1034.

There’s money out there for permanent financing on multifamily projects, but construction funding is harder to come by.  But if we could shave a third or even half off the construction time the bank’s risk would be significantly reduced.  If the final product was more comfortable and greener the bank’s risk would be reduced further.  The Miranda multifamily method advantage is obvious.

Being a fan of both green and multifamily, my nominee forThe Portland Business Journal’s Sustainability Award was easy.  I wrote a letter supporting Miranda Homes’ nomination and sent it to a few hundred Real Estate Brokers and multifamily pros.  Seasoned developer Gordon Jones, not only nominated Miranda Homes, he did it  so passionately and eloquently I have printed it below:

Gordon C. Jones’ Nomination of Miranda Homes for The Portland Business Journal’s Sustainability Award:

Your Name: Miranda Homes
Your Org.: NA
Your Phone: (503) 702-1555

Nominee Org.: Miranda Homes
Nominee Name: Rob Boydstun
Nominee Email: rboydstun@mirandahomes.com
Nominee Phone: (503) 849-7337

Nominee Organization Size: Small

Describe the nominated organization’s demonstrated innovation in overhauling internal operations to reach sustainability goals:
Miranda Homes has reinvented the construction process, bringing technology learned in manufacturing in partnership with Toyota to home building. Starting with the demolition process they recycle everything possible. They take lean construction to a new level, producing less than 1/2 lb. of waste per square foot of construction as compared to 6 to 8 lbs. per sq. ft. for typical construction in the Portland market. They build using steel studs and structurally insulated panels produced in their own plant with Revit(c) based software that results in no waste in manufacturing the components. The steel is from recycled automobiles. The sheeting and exterior foam insulation overlaps adjoining panels so that no seams allow air infiltration. After assembly and installation of MEP the structure is insulated with spray-in soy-based foam insulation. An air exchange system changes the air several times per hour. The sealed crawl space is conditioned to prevent mold and mildew.

What could other companies learn about sustainability from this organization’s operations?
Sustainability is not measured just in the performance of the end product or building, but must be inherent in the entire process. By definition sustainability means the wise and efficient use of resources and thus should result in not only less materials used in construction, but in a more efficient use of time, less waste on the job site and a resulting savings in producing the building. Miranda can build a conventional single family home in less than 2 months, as compared to at least seven months for even efficient builders using conventional methods. Their methods include revolutionary software that take design drawings in Revit(c) and convert them directly to the manufacturing equipment that literally make every structural component for the building, without waste. The panels are loaded on trucks on a first on last off order, clearly labeled, so that upon reaching the job site they are unloaded and assembled with utmost efficiency.

How has innovation in the company’s sustainable operations been incorporated as part of a thriving business?
The culture of Miranda Homes is one that demands innovation, creative thinking and using the skills and resources of every employee to brainstorm each job and model it completely before beginning the manufacturing process. Old methods and construction technologies are rethought and better more efficient methods are employed. By employing their own technology and engineering specialists, they are able to control the entire process from design, engineering, manufacturing, purchasing and assembly. Miranda even buys all building components for their subs, such as electrical, plumbing, mechanical, masonry etc. and then the subs work out of Miranda’s inventoried trucks, so that there is very little waste and no materials end up on other jobs or back at the subs warehouse. Miranda has spent the past three years investing in this technology and developing the software and manufacturing methods. They are now beginning to realize the benefits of that fully vertically integrated model.

-Gordon C. Jones

Chinook Construction-Greg and Bill

Rose City Commercial Real Estate celebrates the pros at Chinook Construction as worthy of inclusion in this “Best of Portland” column. They offer the best construction bang for the buck value in town. Please understand that I really shop value not price…earlier job completion, substitution of superior materials, reduced hassle, advantageous billing terms, whether I like people or not…all factor into my vendor decision. Much more than price is involved.

The first time I employed Chinook was on a job that I desired a highly compressed time frame. Chinook’s bid was less than half of the highest of the four bids, and well below the other two. They followed up on their bid promptly and advised me that they could make room in their schedule to start the next day without offending any of their other customers. They clearly defined the scope of work covered, and what my responsibilities were.

Given that their price was so low I had concerns that they might have to cut corners or load me up with change orders in order to make out. Sure they were the most likeable of the four groups I interviewed…but could they also provide quality? Being in a time jam, I decided to give them the contract. I am more than pleased…I am ecstatic about their work.  They completed the job at a lower price…before the more expensive contractors called back to check on their bids.

The steps they took to protect my house while the work was in progress are much appreciated. Each night they cleaned up their area and made sure that the interruption to our lives was minimized. They hauled off refuse so I didn’t have to deal with it. I’ve used them on other projects and have been equally thrilled. They showed my wife and I a better way to accomplish a tile project that was clearly more aesthetically pleasing. It was also more intricate and labor intensive…we agreed and were pleasantly surprised that there no increase in cost. Further into the project they found some hidden water damage causing an expansion of scope that they could have really nailed me on…but they were more than fair.

They say a huge test of a marriage is to build a house together…but if you really want to test the limits…do a remodel while you are still living there. You don’t have choose between saving money, wanting better quality or saving you relationship…just use Chinook Construction.

Call Greg Wike and Bill Derion for a great value at: 503. 332.1272. Tell ‘em Rose City sent you!