Share a brief overview of your proposed tool or solution (1 page max) that outlines the essentials of your plan. It should include:
Intended users
- Real Estate Developers: This tool will enable developers to simulate and understand the relationship between the construction costs, rental yields, and net profit over the building life cycle for high-rise office buildings of varying radius and height in any region. This understanding can aid in making strategic decisions about the size and location of new office developments.
- Urban Planners: City planning authorities can leverage this program to gain insights into how high-rise office buildings contribute to the economic dynamics of their respective cities or regions. Understanding these dynamics can assist in planning strategies and infrastructure investments that best support growth and sustainability.
- Financial Analysts: Professionals within the finance sector, particularly those dealing with real estate investments, can utilize this tool to estimate rental income, evaluate the profitability of potential investments, and conduct risk assessments based on the various factors incorporated into the simulation for office buildings in any geographical context.
- Architects and Engineers: This program would also be of interest to architects and engineers as it allows them to consider the financial implications of their designs. With the ability to simulate different building heights and radius, they can assess the balance between the aesthetic appeal, functionality, construction costs, and potential profitability of their designs in any region.
- Real Estate Researchers and Academics: This tool would be valuable for researchers studying urban development, economic geography, or real estate markets. It allows for a comprehensive understanding of the factors influencing rental rates and the profitability of high-rise office buildings in any dynamic market.
Need you’re trying to provide a solution or support for
- Aid Strategic Decision-Making: The program provides a robust platform to simulate and analyze the crucial variables affecting high-rise office developments. This capability assists in making more informed and strategic decisions in real estate development.
- Enable Data-Driven Urban Planning: The program supplies essential data for understanding the economic impact of high-rise buildings, supporting urban planning efforts towards sustainable growth and effective infrastructure investments.
- Facilitate Financial Analysis for Investments: The tool allows for estimating rental income, evaluating the profitability of potential investments, and conducting risk assessments, which enables more accurate financial analysis.
- Enhance Architectural and Engineering Design: By simulating different building heights, radii, and their financial implications, the program allows architects and engineers to balance aesthetic, functional, and economic considerations in their designs.
- Support Comprehensive Research: The program provides a robust tool for research, offering a comprehensive understanding of the factors influencing rental rates and profitability in high-rise office buildings, contributing to the fields of urban development, economic geography, and real estate markets.
Inputs
- Building Radius
- Building Height
- Monthly rent per unit area for a high-rise office building
- Construction cost per unit area for a high-rise office building
- The life cycle of the building (i.e., the number of years it can be rented)
Underlying logic of the model you’ll implement
This tool, developed in Revit Dynamo, begins with the creation of a geometric model based on the form of a high-rise office building. The model takes into consideration several critical input variables, based on real-world parameters, which include: Building Radius, Building Height, Monthly rent per unit area for a high-rise office building, Construction cost per unit area for a high-rise office building, The life cycle of the building (i.e., the number of years it can be rented)
Ranges for these input variables are defined according to realistic circumstances.
Through a series of computations, the program then calculates the area for each floor, the yearly rent for the high-rise office building, and the total construction cost. These calculated values are presented as the output of the program.
Leveraging the power of Dynamo coding, this tool allows various stakeholders to generate flexible high-rise office building models by adjusting their dimensions and pricing based on user input. It executes calculations to determine an array of output values, providing valuable information for design comparisons.
The tool features a user-friendly interface through which architects can interact, visualizing designs, adjusting parameters, and making informed decisions. This interaction ensures that stakeholders can not only explore but also understand the financial implications of different design possibilities, facilitating optimal decision-making in the design and construction of high-rise office buildings.
Outputs
Total building area
Total rent for a year
Total construction cost
Net Profit for the whole life cycle of high rise building