Developing Interests
?Show me a wealthy architect,? architect Lloyd Hunt once quipped to his class at the University of Waterloo School of Architecture, ?and I?ll show you a developer.?
The profits of developers can seemingly outstrip an architect?s fees on a project. But for architects, there?s a way to reap the financial rewards of development?by becoming the developer.
The rewards go beyond potential financial gains, though. Architects who enter the development arena are often aiming to make modest, but important improvements to a neighbourhood or city that they know well. They?re gaining valuable knowledge about building from a client-and-owner perspective that feeds back into their architectural practice.
When architects own, finance, and sometimes even act as the builder for development projects of their own design, caution is needed to navigate potential conflicts of interest. As with some other professions, architects are ethically bound to maintain a high level of independence and impartiality in supporting the interests of clients and of the public. A conflict of interest can arise when an architect has other roles in a project. For instance, when an architect has a financial interest or acts as the builder on a project, it can be difficult to be impartial in tasks such as certifying the value of work, explains the Ontario Association of Architects in its Practice Tip 26.
The Tip states that business activities outside of providing architectural services should not be connected to the...
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canadian architect
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https://www.canadianarchitect.com/
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