Construction Finance
By Anthony Milano, Crown Design & Construction
Architecture & Design is the backbone of any restaurant looking to define itself in New York. For your venue to leave an indelible mark, the elements for success include: creativity, problem solving, understanding your audience, and a unified team.
Creative Openings in Today's Economy
Finding new opportunities (as well as redefining industry trends) are launch pads for success. Take for instance a recent venture of Crown Design, Rabbit in the Moon, a gastropub with the highest caliber of ownership and management. Even with a well-developed concept and a winning team, economic conditions took a toll on the investment. Since dining is usually one of the first things people cut from conservative budgets, new capital wasn’t readily available. Therefore, Crown proposed ‘Construction Finance’.
Construction Finance takes professional services and fronts them for equity stake in a venture.
Construction Finance is where professional services such as Architecture, Engineering, Construction Management, and Expediting -are fronted for equity stake in the venture, shaving huge costs off your startup capital. With Crown being a niche firm offering Design/Build services, all trades could be applied.
Design/Build offers a number of advantages to the client including a single point of contact, a multi-faceted team that works together from the beginning, packaged price points and typically a shorter construction schedule due to the collaboration of all trades.
To date, Rabbit in the Moon has not only been kept on schedule for opening, but the design has become more efficient to enhance seating (direct correlation to profits), professional industry contacts have been capitalized on for the best interest of budget, and long-term relationships have been forged.
For more information on Construction Finance, you can contact Anthony Milano directly:
29 Broadway 14th Floor
T: 212.888.8334
AMilano@designsbycrown.com
About Anthony Milano
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Anthony Milano is managing partner and Director of Business Development for Crown Design and Consulting. CDC is a full service design-build firm providing Architecture, Interior Design, Engineering, Construction Management and Expediting (including liquor licensing)services. Anthony, being both an owner of an architecture firm as well as a restaurateur, puts himself and his firm in a unique position to design and manage hospitality projects truly from an owners perspective. |
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