Amid an economic slowdown that has hit the real estate industry hard and left many firms floundering, RAND Engineering & Architecture, PC, a 65-person New York-based firm founded in 1987, was recently named to The Zweig Letter Hot Firm 2009 list of fastest-growing architectural, engineering, and environmental consulting firms in the United States and Canada. Firms were rated on the percentage and dollar growth in revenues from 2005 to 2008. RAND's revenue increased to $8,046,090 in 2008 from $4,565,719 in 2005, a growth rate of 76%. RAND ranked 157 out of the top 200 firms.
Because RAND works almost exclusively on existing buildings, it has not been as vulnerable to the tight credit, distressed financing, and overall harsh economic climate that have severely hurt design and build firms specializing in new construction. "Although the New York real estate market continues to struggle along with the rest of the country, property owners still need the essential evaluation, repair, restoration, and upgrade services that we provide," said RAND's President and founder, Stephen A. Varone, AIA.
Multidisciplinary Capabilities
Varone emphasized that the firm's multidisciplinary capabilities have enabled RAND to weather past downturns in the industry and that they will strongly position the firm as the market recovers. "We are gearing up for the next cycle of Local Law 11/98 [beginning in February 2010], which will provide us with several hundred facade inspection assignments and a steady stream of follow-up repair and maintenance work," he said.
RAND is also poised to grow in the rapidly expanding field of green services and sustainable design, Varone added. As a partner in NYSERDA's Multifamily Performance Program, the firm performs energy audits and administers energy-savings projects from application through completion. With a staff of LEED Accredited Professionals and Building Performance Institute Certified Professionals, RAND is able to take on a wide variety of sustainable design projects, such as green roofs, electrical submetering, cogeneration, and boiler plant automation.
"An increasing number of our clients are interested in making their buildings more energy efficient and operating them in more environmentally friendly ways," Varone said. "Building on our expertise in mechanical, electrical, and plumbing systems as well as our vast experience in exterior repair and upgrade work, we're well suited to help owners improve their properties on all fronts."
The Zweig Letter is published by ZweigWhite, a Fayetteville, AR.-based consulting firm servicing the architectural, engineering, and construction industry.
