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Posted: November 26, 2024
2024 Ones to Watch - Innovators in CRE: Toh Tsun Lim AIA, PEI Architects
Partner
PEI Architects
“Toh Tsun Lim AIA creates real estate solutions through architectural designs that honor local context and culture while addressing contemporary needs. The rapid development of built environments requires that the essence of local culture and respect for its traditions be understood while building a pathway to the future. This PEI Architects’ design philosophy has developed into a successful process of producing iconic buildings and memorable interiors that resonate within their contexts.” - Gina Bedoya, PEI Architects.
Innovative Solution:
We have done a few different things in parallel. We stepped up our business development to outreach to different regions across the United States and we’ve added a commercial interiors studio that brings a stream of rewarding projects between the ups and downs of the larger ones. This builds on our staff’s talents and expertise, and brings them new challenges. We are fortunate to have global reach, too, so we’ve also stepped up our outreach internationally by helping clients who are pivoting to other regions. Some of our international business clients who have seen a slowdown in their local markets are moving to support development in other parts of the world, notably the Middle East.
Innovative Outlook:
Asset repositioning is where a lot of innovation needs to happen, so our clients can better utilize space that may be either redundant or nonperforming. In the commercial sector more innovative ideas are coming on how to bring new amenities to aging buildings and how to integrate retail spaces more effectively in areas other than traditional ground-floor storefronts. There is of course the wide focus on commercial-to-residential conversions, which are starting to gain steam as New York City tax abatements and new zoning programs like City of Yes gain approvals and help make these projects pencil out financially. Lots of creative design innovation will be coming to determine the most efficient ways to convert viable properties into desirable
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