As the Managing Director of Rooftops Group LLC, James Hagy founded and directs the Rooftops Project, which offers conferences, workshops, research, and resources about the role of real estate (owned, leased, or hosted physical space) in the missions and the operational and financial performance of not-for-profit organizations of all sizes and mission types. He writes and speaks to business and not-for-profit audiences regularly about corporate real estate strategy and international business.
How did you become involved in the Construction & Design Industry?
I have been involved in the real estate industry, and related construction and design fields, for almost 45 years. My first career was as a partner at one of the largest international law firms, where I led its corporate real estate practice and co-led its overall real estate group worldwide. In that practice, I represented many of the largest Fortune 500 and FT 500 companies in projects throughout the U.S. and around the world. For the past 16 years, I have been in academia where I have taught concurrently at multiple law schools in the U.S., as well as at Peking University School of Transnational Law in China and founded and direct The Rooftops Project.
What is something that your company is doing that you consider innovative?
The Rooftops Project focuses on the role of real estate – owned, leased or hosted physical space – in the operations, financial performance and achievement of the mission of not-for-profit organizations. We offer real estate conferences and workshops, together with research and resources, with several goals:
- To increase awareness of the contribution that a disciplined approach to real estate can play in not-for-profit organizations of every size, from those with a single location to those with a national or international presence.
- To be the host of an ongoing dialogue within the community of not-for-profit executives and managers, board members and volunteers, and real estate industry professionals about topics relating to the effective occupancy, use and management of real estate in the social sector.
- To highlight and celebrate the diverse roles played by real estate (as physical space) in supporting the mission of not-for-profit organizations of every type, from the arts to places of worship, from social and human services to education and advocacy.
What poses a challenge/risk/opportunity for your clients and what is your company doing to address it?
Real estate represents one of the largest categories of repeat expense (operational occupancy costs) for most organizations and is a significant capital investment for the occupant as owner or the landlord who ultimately recovers those investments over time from the tenant or occupant. While real estate can be a significant source of risk, it is not always a visible focus for occupiers who are not in the real estate industry. To achieve a more conscious and consistent approach to real estate within the organization, the starting point is to recognize there are many issues (and solutions) related to managing real estate commitments, projects, and properties. This awareness by charitable sector organizations is the central mission of The Rooftops Project and drives our offerings.
What is something you view as an emerging trend in the industry, and what are your perspectives on it?
While space has been shared since pre-human times, and businesses and organizations have co-located for decades if not centuries, the topic of “shared space” continues to be on the minds and in the planning of charitable organizations every day and across all property and usage types.
Any final thoughts on what to keep an eye on in the near future in the Construction & Design industry?
Particularly from the perspective of our audience – charities that seldom have regular construction experience or internal dedicated project staff – the role of trust as an element in the relationship between owner and the construction team is essential to optimal project outcomes. This, of course, is not in lieu of sound documentation and risk management.
Learn more about The Rooftops Project:
Our next annual Rooftops Conference Chicago will be held on Friday, February 25, 2022. Like all Rooftops Project programming, the conference is free of charge, but requires pre-registration subject to space availability. We also post occasional essays and field interviews concerning the role of real estate in charitable organizational performance. More information will be available on our website.
Visit our Construction Academy for more thought leadership content related to the construction and design industry.