At some point, every nonprofit struggles with the question of whether to lease office space or whether they should buy. Board members may feel like they are “wasting” money on rent, when they could be investing in a commercial property. On the flip side, many nonprofits get in over their heads by buying a bigger building than they can sustain.
I’ve seen a lot of nonprofit real estate projects destabilize the organizations they are meant to bolster. That’s why I’m passionate about nonprofits undertaking careful feasibility planning when contemplating a space project. Whether your organization chooses to rent or buy, whether the project is for your organization alone or with a cohort of other nonprofits for a shared space – the key objective is to do no harm and make sure that your new space enhances your mission and doesn’t undermine it. Occupancy costs are second only to personnel in terms of nonprofit expenses, but even the most sophisticated nonprofits often get tripped up by poorly planned real estate projects.
There’s a lot of change brewing in the commercial real estate (CRE) world. From how we work to what a new generation of workers want from their workplace, these shifts are impacting the design and offerings of office space. Some of these trends are maturing (like the open plan) and new ones are coming on the scene (like hackable workspaces). What’s exciting is that much of the new thinking is aligned with the values that are already important to those of us who own and operate social purpose real estate and easily builds on our efforts to develop robust communities while providing affordable, quality workspace.
1536 Wynkoop Street, Suite 103
Denver, CO 80202
info@nonprofitcenters.org
720.836.1189
April 15, 2024
March 19, 2024
