Joseph Cianciotto believes that traditional retail is evolving, as evidenced by a glance through any real estate trade newspaper or a visit to a local business. Developers and merchants share a goal to construct projects that entice people on multiple levels, known as "place-making." This development type frequently entails changing an existing single-focused property into a dynamic community with various uses.
Many of these projects focus on reimagining
how existing retail spaces may better serve the community. For example,
developers may build many new buildings where an enclosed mall used to stand to
create an authentic live-work-play neighborhood with office, retail,
residential, and hotel purposes.
Creating
a Strategy with the Developer
At the outset of a project, Joseph Cianciotto
believes that the lead counsel should understand existing conditions and the
developer's goals and aspirations for the property. This obligation involves
identifying any impediments to achieving those goals and then devising and
implementing a strategy to mitigate or remove those impediments.
Joseph Cianciotto believes it is also the best
time for the development team and counsel to meet in person rather than over
email or conference calls to discuss the proposed project. Doing so allows for
a group review of the site plan, discovering obstacles, and unlocking ideas to
ensure that the entire team works toward the developer's vision.
Following this meeting, Joseph Cianciotto
believes it is best to create a project work plan for the legal component of
the work and a timeline outlining the tasks required for the project. It also
ensures that the entire development team understands what they need to do. It
also aids developers in developing project budgets. Additionally, Joseph
believes that a solid understanding of the baseline and necessary steps to a
successful project will also assist the development team in navigating the
inevitable bumps and turns along the road.
