The perceived glamour of luxury construction projects has a certain pull – but the project itself can be anything but glamorous. Fort Lauderdale-based boutique contractor Cambridge Construction Corporation knows these projects all too well. Cambridge Construction has been working with local developers and architects to help redefine the Las Olas and downtown area of Fort Lauderdale by building new, highly-anticipated commercial and multi-family residences, which are in various stages of construction with four additional projects soon to be started. CBO recently talked with CEO Torry Watson and COO Carlos Ardavin about the projects and what concessions Cambridge had to make as a company to stay successful. Read their answers below.
CBO: Tell us about the projects and the company. TW: We are a boutique contractor working on jobs that fit in that middle space—$5- to $50-million worth. We have found that our defined market segments are doing well in such areas as downtown Fort Lauderdale, the beaches and most of the Broward County. Our aim is to help the developer create a buying experience for the purchaser of a private residences within a multi-family condominium. We have placed a focus on finding ways to say yes to what our customers want and provide a concierge-like living space. CA: We act as a construction department for our clients. We have the ability to visualize the project through the eyes of the developer, as well as the contractor. TW: We are definitely working in a negotiated environment. We leverage the relationships we have within the government sectors to find ways to build what works while complying with regulations. The skilled labor population is evaporating. So it’s important to us to find ways to make everyone’s job more efficient and to find a “can-do” attitude in the employees we hire. In the projects we are working on, we are constantly looking for ways to improve the average living space. We want to build, in a multi-family space, what you would see in a customized home, like plug-ins for hybrid cars and programmable air conditioning units, living space integration.
CBO: Why are these projects innovative to the Fort Lauderdale construction industry, specifically? TW: The Fort Lauderdale governmental bodies are interested in projects that truly lift the environment we all live in. We are participating in projects that have a smaller footprints, encourage energy management, thinking about greenspace and making it usable, all while understanding that our projects are for profit and budgets matter. We have taken that direction within Cambridge and continually look for cost-effective ideas that have an opportunity at every level to deliver smarter buildings, such as lighting and water management systems, air conditioning systems and parking solutions. The efforts that Cambridge has taken are paying dividend for our clients. We have seen our projects selling at above average prices, partly because of this method of thinking. The buildings have a more unique design, too. They offer more amenities than the average high rise. CA: One of the other things this approach provides our clients is minimizing the additional time for the completion of the improvements. We provide and coordinate all of these opportunities ahead of the process, not after it is already designed. TW: We have found that by being early—we are able to excel at the project. Our estimate is that we took 25 to 30 percent of the total time off the total length of the project, through these ideas and improvements. We also are able to get the developer to cut their costs before they even go into the ground. Every project has completely sold out before we finish the building. We take note of special touch points that buyers are looking for, and try to include them when possible, too.
CBO: How are these projects innovative for the industry overall? What sets them apart from other multi-family projects being built currently? TW: We provide the entire construction building service and experience, but we stay true to being a boutique contractor. We also have a clear, defined culture amongst our staff and our client mix. The projects in Fort Lauderdale are located in a particular area of the city. The projects are for the elite of Fort Lauderdale, so it’s been a transition working in such an environment. They aren’t going to tolerate the typical construction environment. These projects have been a lesson in how to work around people who have no tolerance for inconvenience. We are truly a service company. For example, we handed out free wash cards to the best car wash in town during one of the multi-family projects. We look for easy ways to make our lives less miserable and the company more successful. CA: It’s important to note that we didn’t walk into these projects knowing this—we learned the hard way and adapted. TW: Exactly—we adapted to the idea of being a boutique contractor and staying true to what we are capable of. Getting a project is no longer as hard as it used to be, but it’s still important to stay true to your company values and only enter projects that you have the defined skillset to complete. For more information, visit Cambridge Construction. For a detailed description of the multi-family projects, click here.
