We negotiated an Owner-Architect Agreement for a new 154,000 sq ft, nine-story mixed-use development in the downtown core of a major U.S. city, for one of our architecture firm clients. The project features about 200 residential units, including a mix of studios, multiple-bedroom units, and penthouses. The building will also include 9,000 sq ft of ground-floor retail space and a distinctive masonry and glass facade. The agreement addresses key considerations such as compliance with all applicable regulations, including Fair Housing Act (FHA) safe harbor provisions, as well as the owner’s priorities regarding project scheduling and cash flow. The total estimated construction cost was about $41 million, with the architect’s fee exceeding $1.3 million.
