The historic Bath Club, a private members club sitting on more than five acres with 500 feet of beach along the Atlantic Ocean in Miami Beach.

MIAMI—Commercial real estate developers are getting more tech-savvy all the time. They have to because the competition is.

In this series, we've been exploring technology issues in the commercial real estate industry. We've looked at what's preventing technology from disrupting next-generation real estate developments. We've also explored how 3D printing is impacting commercial real estate.

In the last segment of this series, we turn once again to Arnstein & Lehr attorney Louis P. Archambault, a member of the firm's Real Estate and Corporate Transactions & Counseling Practice Groups, to get some insights on yet another issue. Real estate developers are already exploring ways to integrate tech in projects they will be building now for generations to come. What seems to be their main concern?

“The integration of driverless cars is a big concern,” Archambault tells GlobeSt.com. “Real estate developers understand that driverless technology is a factor that must be integrated into their developments.”

This, of course, begs another question. How should this technology be integrated?

“Eventually, with completely autonomous cars parking footprints can be reduced, as well as the reduction for driving lane widths and parking areas which may not need human safety concerns such as lighting or ventilation,” Archambault says. “However, before complete autonomy, there will be hybrid systems where a human driver is still possible.”

So, at what point do you change your development design to integrate autonomous driving technology. And, more importantly, at what point do you ask your financial investors or lenders to place millions of dollars of capital behind a new design to integrate driverless technology that has no precedent, consensus outcome or certainty in being approved for a building permit?

“A step in the right direction is Florida HB 725 recently introduced in the Florida Legislature to further clarify the types of technology used in autonomous driving,” Archambault says. “Beyond the language of the bill is a clear desire by the State of Florida to be open to new technology integration, but the bill is limited to the operation of autonomous vehicles on Florida roads. For true integration of advancing technologies in real estate development, legal, governmental and financial institutions will need to be instructed on how each technology can fit within their respective structures and mindsets for the betterment of their community.”

MIAMI—Commercial real estate developers are getting more tech-savvy all the time. They have to because the competition is.

This, of course, begs another question. How should this technology be integrated?

Instant Insights /

The Main Tech Concerns of Modern Real Estate Developers

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