One year after Title 24 regulations were implemented, requiring a substantial shift in the requirements for electrical compliance, the industry is beginning to understand the implications of the new code. CBRE, HBC and SAA came together at CBRE's downtown LA office last night for a panel discussion geared toward the firm's brokers and project managers.
Panel experts included architect, Nelson Algaze, CEO and President of SAA, HBC's CEO, Paul McGunnigle, Landlord Representative, Stan Gerlach from CBRE, Tenant Representative, Paul Stockwell, also from CBRE, and Hank Warner, Director of Project Management at CBRE. Jeffrey Bitetti from HBC moderated the panel, and opening statements were made by Lewis Horne, President of CBRE's Southern California Region.
While the discussion addressed the challenges of adapting to the new code, such as determining tenant vs. landlord responsibility for paying the higher costs of code compliant conversions, the conversation quickly moved in the direction of how project teams, from the broker and project manager to the architect and contractor, could work together to ensure that clients are informed and provided with accurate information and pricing as early as possible in a project. The conclusion reached is that, inadvertently, Title 24 is pushing the industry to adapt to a truly integrative approach to real estate projects that includes the entire team early in the process.