The Baker Program in Real Estate is pleased to welcome Thomas Vecchione to campus for the Distinguished Speaker Series on November 6th at 4:30pm. Vecchione is Principal and Director of Real Estate Strategy at Gensler, and is currently serving as a member of Gensler’s firmwide Management Committee. His background in urban planning and architecture directs Gensler clients’ real estate strategy through a focus on four main components: brands, customers, community, and vision.
Vecchione recently participated in the closing panel for the 32nd Annual Cornell Real Estate Conference on “Reimagining Real Estate,” which also featured Kate Bicknell, Vice President of Forest City Ratner Companies, and Christopher Sharples, Principal of SHoP Architects. Vecchione discussed his work with top companies all over the world, and presented unique insights into how real estate strategies are rapidly changing. “Companies look to create their workplace around their values and their business,” said Vecchione, noting that “by 2030, 75% of the workforce will be Millennials, and on average, they spend 70% of their time at the office.” The share of amenities, technology, and entertainment in the workplace has risen with time, and more than just a generational shift, Vecchione has seen that “we tend to underestimate how quickly people change their habits and desires in their work, and also how fast properties can change.” From sleek, branded corporate offices to high-street retail, Vecchione helps firms translate the values of their brands, customers, community, and vision into modern real estate plans prepared for the future.
Gensler conducts regular, detailed research to stay on top of developments in working habits and worker behaviors, and this unique understanding of trends that drive real estate decisions for owners and tenants provides designers with a grounded approach. “Seeing the data that drive their design and real estate strategy for clients is quite impressive. Through a focus on studying observational data and designing to meet those needs, Gensler’s practice stays on top, even in this rapidly changing market,” said Ryan Chao (Baker ’16). Top developers across the world seek out Vecchione’s expertise to help position their real estate assets for commercial and retail tenants, and on average, work done by top tier design firms like Gensler command a 7% rent premium, showing that thoughtful design commands a double bottom line: it’s not only good for companies and customers, but it provides financial benefit for owners and developers of real estate.
As a longtime supporter of both urban design and planning initiatives, Vecchione serves on the boards of The Municipal Art Society, the Center for an Urban Future and the New York City Landmarks Preservation Foundation. His projects and thought leadership have been featured in prominent publications including Fast Company, MSNBC, The New York Times, as well as National Public Radio.
