Fairfield County Business Journal Classic style weathers economy
Classic style weathers economy
For architect Dinyar Wadia, classic design and high-end homes have been the perfect mates in getting work through the down economy.
“We haven’t let anybody go because of the recession, or the depression, which ever you’d like to call it,” said Wadia, founder and principal of Wadia Associates, a longtime residential architectural firm in New Canaan. “We are lucky, we still have work coming in and I think the environment is improving. I’m seeing people become more and more confident about the economy going forward.”
Wadia said in times like this it’s important to accept the principle of working harder to get paid less.
“Housing and construction are the last ones to go out and the last ones to come in in a recession,” Wadia said. “What’s already on the boards is already invested in, and people like to wait until they’re absolutely confident.”
Many of Wadia’s clients, who are in the high-end residential sector, are using the recession as an opportunity to build, because the prices of construction are so far down.
“We just did a house in New Canaan where after the house was built the roofer took $40,000 off the top on a $200,000 roofing job, just because he wanted the contract,” Wadia said.
The individualism that exists in America can create great architectural disparity, Wadia said, even in places known for particular architectural styles, such as New England.
“Some like to live in a cottage-style home, some like a manor style and some like to live in a castle, literally,” said Wadia. “There’s always a trend toward better design. We are looking for casually elegant. If you look at our portfolio you’d see that many of our homes look like they were built in the early 1800s and nicely maintained. They’re classic. People need to be able to relate to their homes.”
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