Home Builder Developer - Interior Renovation and Design

Developer Peter Friday wants to start work next month on a project that could add thousands of square feet of office and retail space to Sewickley's business district.

But he needs borough council's approval on Monday night before forging ahead with plans to celebrate a groundbreaking in October.

Friday, president of Forbes Trail Development Co., is building an 8,500-square-foot office building that includes a first-floor coffee shop on property near Walnut and Thorn streets in Sewickley. It's the first of a series of projects planned for that area.

The vacant land had been part of the Ascot and Rolls Royce dealership before closing and being sold in 2012 to One Village Square LLC for $175,000.

The mixed-use development would consist of upper-floor office space, he said.

We think there's demand for shared office space, Friday said.

A coffee shop could be added on the ground floor of the proposed development, Friday said.

The development would be built near a two-screen movie theater Village Theater Co. is proposing.

That nonprofit group also is targeting a groundbreaking on the Walnut Street property sometime in October, theater group Vice President Susan Kaminski said. The group signed a lease agreement with the borough, which owns the property the theater will use.

While the development and that of the nonprofit group will fall under the Theater Square name, Friday said the buildings would not have similar appearances, adding that different building materials would be used since the projects are not connected.

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Council OK sought on office-retail project near proposed theater in Sewickley

Irvine, CA (PRWEB) September 11, 2014

Visioneering Studios, the nations leading Master Planner, Architect and Contractor of faith-based developments, announced this week that it is expanding its services to include real estate advisory services with two new key hires. John C. Cissel, II, SIOR has joined the firm as President of Visioneering Real Estate to provide real estate brokerage, development, and advisory services to its clients around the nation. Cissel comes with a wealth of experience from thirty years in the commercial real estate industry, having spent the last fifteen years serving hundreds of faith-based non-profits around the country with various real estate projects.

John comments, I am excited to start this new focus within Visioneering and look forward to working with the established team to further develop their already extensive design and construction service suite. I am fortunate to be joining such a group of thought leaders serving the faith-based community.

John is uniquely positioned to help churches and faith-based organizations in undertaking larger-scaled real estate projects - a service that is so desperately needed. I don't know of others who possess the background, expertise, and success in so many facets of both commercial and kingdom-centered real estate, and who are doing this work through a Christian organization that is solely focused on the faith-based non-profit community. - Rev. Tim Keller, Senior Pastor at Redeemer Presbyterian Church, New York City

Steven A. Chaparro has also joined the staff of Visioneering Studios as Project Developer. Since 1997, Chaparro has developed a unique set of skills honed by his varied experience in architecture, real estate development, financial advising, and church leadership. After graduating from the USC School of Architecture, he spent nearly six years as a project manager for WLC Architects. Over an additional ten years, he expanded his project management experience into entitlements and business operations with a national homebuilder, K. Hovnanian Homes and Storm Western Development. Along with several years as a licensed advisor, Chaparro has also served the last seventeen years as an ordained minister.

Our shared passion for the multi-disciplinary approach to creating environments and telling architectural stories offers our clients a unique perspective for the engineering of their visions. I have been a fan of Visioneering Studios for many years; its an honor to now be part of the team, Chaparro says.

Chaparros love for storytelling has led him to write on his blog UrbaSmyth as well as contribute to a hyper-local urbanism blog, LongBeachize.

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Visioneering Studio Introduces Real Estate Advisory Services

Home furnishings retailer Restoration Hardware Holdings Inc (RH: Quote), Wednesday reported a swing to profit in the second quarter, due largely to an increase in revenue and lower expenses. Earnings for the quarter came in ahead of Wall Street expectations, but revenues fell short dragging Restoration Hardware shares down 5 percent in after-hours trade on the New York Stock Exchange.

Corte Madera, California-based Restoration Hardware reported a second-quarter profit of $27.3 million or $0.66 per share, compared to a loss of $17.8 million or $0.46 per share for the same quarter last year.

Excluding items, adjusted earnings for the quarter rose to $27.7 million or $0.67 per share from $19.8 million or $0.49 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.64 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the second quarter grew 14 percent to $433.8 million from $382.1 million a year ago. Analysts had a consensus revenue estimate of $454.38 million for the quarter.

Comparable brand revenue growth, which includes direct, increased 13 percent in the second quarter. Gross margins improved to 38.7 percent from 36.4 percent last year. Selling, general and administrative expenses dropped to $119.0 million from $167.1 million last year.

Looking forward to the third quarter, the company expects adjusted earnings of $0.46 to $0.48 per share and revenues of $475 million to $485 million. Analysts currently estimate earnings of $0.43 per share on revenues of $478.96 million for the third quarter.

For the fiscal year 2014, the company now expect adjusted earnings of $2.29 to $2.33 per share, compared to its prior outlook of $2.24 to $2.30 per share. Restoration Hardware now expect revenues of $1.85 billion to $1.87 billion, down from prior estimate of $1.86 billion to $1.89 billion. Analysts currently estimate earnings of $2.31 per share on revenues of $1.88 billion for the full year.

RH closed Wednesday's trading at $82.05, up $0.04 or 0.05%. The stock, however, dropped $4.30 or 5.24%, in after-hours trade.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Restoration Hardware Swings To Profit - Update

Volunteers from Habitat for Humanity and BlueCross BlueShield prepare to improve Mary King-Russell's Bushtown residence off Citico Avenue on Wednesday.

Sixty-nine year old Mary King-Russell doesn't have the money or the robust health needed to repair her own home. So Habitat for Humanity of Greater Chattanooga is doing it for her.

Nearly two dozen volunteers stood in front of her Citico Avenue home Wednesday morning. several of them Bluecross Blueshield of Tennessee volunteers decked in aqua blue T-shirts. Other volunteers included Habitat staff and Bushtown residents.

All of them listened while Daniel Gamble, Habitat's neighborhood revitalization coordinator, gave marching orders.

"Our mission is to have no more poverty housing in the world," said Gamble. "We're doing it one neighborhood at a time."

Russell's home is among 16 houses and a middle school Habitat plans to fix up in the Bushtown community within the next year, said Dominique K. Brandt, Habitat's director of volunteers and events.

The plan is to complete Russell's and one other home and Orchard Knob Middle School this month. They will do weatherization, paint the exteriors of the homes, work on landscaping and repair the wheelchair ramps and porches.

Habitat is calling the project "A Brush with Kindness Revitalization Project."

The organization will host a block party at 12:30 Sept. 20 at the Orchard Knob Middle School field.

King-Russell stood with her two dogs on the porch as the group gathered and listened with pleasure to the plans to spruce up her home.

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Habitat for Humanity of Greater Chattanooga starts home restoration in Bushtown

Restoration Hardware Holdings Inc. (RH), a seller of high-end home furnishings, fell 5 percent in late trading after cutting its annual revenue forecast.

Sales will be $1.85 billion to $1.87 billion in the fiscal year ending Jan. 31, the Corte Madera, California-based company said yesterday in a statement. Restoration Hardware had previously predicted as much as $1.89 billion.

The company mailed out its source books -- massive catalogs of its furniture and housewares -- seven weeks later than last year, hurting sales in the second quarter, Chief Executive Officer Gary Friedman said in the statement. Still, the company has seen business accelerate during the second half, he said.

Being in the retail business is like being at war -- you need to have a solid strategy that is constantly evolving, Friedman said on a conference call. No matter what your plan or forecast is, it is some degree of wrong and what matters is how quickly you improvise, adapt and overcome. That is what I believe we are very good at.

Restoration Hardware shares fell to $77.91 in extended trading after the results were released. The stock had climbed 22 percent to $82.05 this year through yesterdays New York close.

To contact the reporter on this story: Lindsey Rupp in New York at lrupp2@bloomberg.net

To contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net Stephen West, Ben Livesey

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Restoration Hardware Tumbles After Cutting Its Sales Forecast

SAN FRANCISCO (MarketWatch) Shares of Restoration Hardware Holdings fell in the extended session Wednesday after revenue results and forecasts fell below Wall Street consensus estimates.

Restoration Hardware RH, -3.70% shares fell 3.7% to $79 on heavy volume after the luxury home goods retailer reported fiscal second-quarter earnings of 66 cents a share on revenue of $433.8 million.

While the bottom line was above the 64 cents a share analysts surveyed by FactSet expected, the top line was below the estimated $454.3 million.

Restoration Hardware forecast earnings of 46 cents to 48 cents a share on revenue of $475 million to $485 million for the third quarter, and $2.29 to $2.33 a share on revenue of $1.85 billion to $1.87 billion for the year.

Here again, while the earnings forecast may have passed muster, the revenue one didnt. Analysts expect third-quarter earnings of 43 cents on revenue of $478 million, and for the year, earnings of $2.32 on revenue of $1.89 billion.

Back in June, shares of Restoration Hardware rallied after the luxury-home-goods retailer raised its outlook for the year.

JDS Uniphase Corp. JDSU, +11.28% shares surged 14% to $13.80 on heavy volume after the networking equipment maker announced plans to split the company in two.

Five Below FIVE, -1.25% shares declined 4.7% to $40.37 on moderate volume after the teen-themed discount retailers earnings outlook fell below consensus estimates.

The company sees third-quarter earnings of 5 cents to 6 cents on revenue of $136 million to $138 million for the third quarter, and 86 cents to 89 cents on revenue of $681 million to $687 million for the year.

Analysts estimate 7 cents a share on revenue of $137 million for the third quarter, and 90 cents a share on revenue of $684.8 million for the year.

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After Hours: Restoration Hardware shares fall after hours

By Sanjay Salomon

Boston.com Staff

September 10, 2014 10:05 AM

This incredible 18-room Georgian Colonial sits on more than 20 acres near the center of Weston. The home was built in 1929 and underwent a restoration in 2000 which retained many highlights of Georgian architecture, including distinctive brickwork, arches, and symmetry.

Located at 5 Concord Road in Weston, this $24 million estate consists of two building lots. The main home has nine bedrooms, six full and two partial baths, and almost 9,000 square feet of interior space. Amenities include a 4,000 bottle wine cellar, a Gentlemans Room, and more. The second home has four bedrooms and three baths. There is also a childrens cabin in the woods.

Priscilla Hindmarsh and Deena Powell of Coldwell Banker Residential Brokerage in New England are the listing brokers. Take a look inside. Next

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$24M Weston Estate for Sale

Who is Restoration Hardwares competition? CEO Gary Friedman dismissively referenced Pottery Barn, Crate & Barrel, Ethan Allen and Room & Board as competitors in the sense that they also sell better furniture and home furnishings. But in the 2nd Quarter 2014 earnings call earlier today, Friedman said the real opportunity for the retailer is hidden behind an iron curtain.

The CEO announced real upside for Restoration Hardware is the highly fragmented segment known as to-the-trade design centers, which are accessed nearly exclusively by interior design professionals or individuals with a resale license. Friedman explained that designers routinely receive industry discounts of 20-40%, but consumers need to hire interior designers to access design-center merchandise so any potential discounts may be lost to them. Friedman believes this target market is Restoration Hardwares big opportunity for future growth in both volume and margin. The retailers vision is to house disparate categories of a design district under one roof, giving access and pricing transparency to all consumers.

Perhaps articulation of this vision gives context to the 11-pound mega catalog Restoration Hardware mailed last June, receiving tremendous publicity, much of it not positive. Despite criticism, Friedman still considers the catalog a success, though one likely to be optimized in the future. Interestingly, Friedman himself admitted that his very own Restoration Hardware 12-book compendium remains on a counter in his kitchen, and that he hasnt had a chance to go through it all yet. Its easy to believe that Friedmans experience is consistent with many Restoration Hardware consumersthough they may be less likely than the companys CEO to keep the books on hand for future browsing.

Like the bold move of an epic hardcopy catalog in an increasingly digital world, Restoration Hardware sees their growth coming from aggressive expansion in retail space. Friedman asserts that when online/catalog items receive in-store presence, sales lift from 50 to 150%. It makes sense that merchandise perfectly displayed and lit in gorgeous environs are elevated from products to a lifestyle, likely increasing the desirability of attaining that lifestyle and increasing sales of those items.

When asked what specific line within the Restoration Hardware portfolio that Friedman was most excited for future growth, there was a Benjamin Braddock moment. However, Friedman sees the future not as plastics, but as leatherdistressed leather.

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Behind The Wrought Iron Curtain: Restoration Hardware's CEO Says True Competition Is Professional Designers

Elizabeth Miller, Houzz Contributor

A coffee table does a lot of work. It needs to hold books, magazines, drinks, food even games on game night. You might want to put your feet up on it, or the kids might need a place for coloring. Plus its usually smack dab in the middle of the room, where you cant miss it so you want to make sure its a good one.

There are several things to keep in mind when youre picking a coffee table. First think about what you need your table to do for you, or what your room is missing, then pick a table that provides the solution.

Revamp your living room with a new coffee table

Before you buy, mark the footprint with painters tape so you can see the scale of the piece in the room and how that affects the surrounding furniture. If you have a very large room and a large coffee table, you can break up the scale of the table by flanking it with pairs of ottomans or benches, as in this example. When theres a party, they can be moved out of the way for better circulation, but for everyday use these extra seats help connect the sofa at one end and the pair of chairs at the other end. Be sure to use a pair of ottomans not just a single one.

When you have two sofas or any larger seating arrangement, a big coffee table might seem like the obvious solution. But also consider a pair of matching coffee tables. They will keep the focus off one large piece of furniture and let your eye move around the room more easily.

One classic coffee table size is 48 by 24 inches, so you can plan on that when thinking about your furniture arrangement. A large coffee table is often double that: 48 inches square.

A lip edge or tray top on a coffee table is always a smart choice if you have a tendency to spill your coffee or have kids that will be using the coffee table for snacks and drinks. Theyre also good if you entertain often and dont want to worry about red wine getting spilled on your carpet.

Coffee tables should be the same height as the surrounding seating, with 18 inches being a good average (although it will depend on your furniture). If you select a coffee table with a lip, make sure the lip isnt higher than the adjacent seating, or youll end up hitting your drink against the lip when you try to set it down. The idea is to put your drink down, not up.

How to pick out a coffee table that makes a statement

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How to Pick Out a Coffee Table

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