Fernando Teruya of FTA Design Studio, Inc., a solution provider at the marcus evans Latin Infrastructure and Property Development Summit 2014, on new development opportunities in Latin America. Interview with: Fernando Teruya, AIA LEED AP, Founder & President, FTA Design Studio, Inc.

1. Interview with: Fernando Teruya,
AIA LEED AP, Founder & President,
FTA Design Studio, Inc.
“The growing middle class in Latin
America needs services that may differ
from what the more affluent communi-
ties enjoy, but many foreign investors
are not even targeting the A- to C-
market segments,” according to
Fernando Teruya, Founder & President,
FTA Design Studio, Inc. “New
infrastructure and property
developments must appeal to them -
this is where the new opportunities are.
Some communities located between the
trendy business centers and the
peripheries have populations exceeding
two million,” he adds.
The award-winning FTA Design Studio is
a solution provider at the marcus
evans Latin Infrastructure and
Property Development Summit 2014
in Panama City, Panama.
What type of infrastructure and
property developments are missing
in Latin America today? What
opportunities can developers take
advantage of?
Population growth and urban sprawl are
happening at a rapid pace, often faster
than planning guidelines are established
or permits issued. This uncontrolled
growth is resulting in chaotic urban
districts, usually in the periphery of the
city centers.
By the year 2050, it is projected that 70
percent of the world’s population will be
living in urban areas. Today, 80 percent
of Latin Americans already live in cities,
40 percent of them in slums. What is
missing is the provision of the right
services and access to those services for
a large portion of the population.
The emerging middle class is the engine
growth of the largest cities in Latin
America. It is a big demographic ready
for consumption and new services.
People are seeking experiences minutes
away from where they work or live, but
the city’s sub-standard infrastructure
prevents efficient mobility. New mixed-
use projects need to be built in the
vicinity of those places.
Developers must understand that a new
demographic has emerged and that
more sustainable projects that promote
a synergy of uses 24/7 are the solution
for the establishment of new urban
cores. Foreign investors focus on central
locations, targeting the high end of the
market, but that is just a small fraction
of the total population. The greatest
base of the pyramid is located far from
the traditional business center. That is
where developers can find the most
opportunities. These areas lack public
places for integration. They are in need
of places that promote the inclusion of
different demographics, new urban
cores, and settings that provide a
unique experience and a sense of
identity to the surrounding communi-
ties.
When the suitable mix of uses is
leveraged by sensitive planning, good
design, and are easily accessible by
public transportation and highways,
they can be very successful. Sometimes
they benefit from a public-private
partnership approach resulting in
invaluable environments for the
community.
What trends should developers
prepare for?
Traditionally, successful developments
in Latin America have been that of
seclusion, gated communities and
restricted accessibility, which have
created big islands within the city. They
make traffic and congestion worse
because they increase traveling
distances, and they do not help promote
integration. Whether in a mixed-use
complex or in a planned community, we
promote the establishment of true city
connections that capitalize on vehicular
and pedestrian traffic. Fewer barriers,
more transit-oriented developments,
and projects that have taken controlled
traffic patterns into consideration create
vibrant destinations.
Investors must keep an open eye for
new opportunities. There will always be
places that are unattended, that are
diamonds in the rough. As long as they
seek to create connections within the
city, there will always be opportunities
for new synergies of uses. What we
need to keep doing is finding new ways
of putting things together to add value
to a project.
There will
always be
places
that are
unattended,
that are
diamonds in
the rough
Building Latin America:
What Opportunities Developers Must Look Into

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About FTA Design Studio
FTA DESIGN STUDIO is an Architecture, Urban Design and Planning firm committed to provide the highest quality of service and a
total satisfaction to our clients. The firm was founded by J. Fernando Teruya, AIA, LEED AP in 2006. A Harvard graduate and
former Principal of RTKL Dallas, Fernando provides over 25 years of unique experience in the design and planning of Mixed-Use
developments, large Commercial spaces, and Urban Design projects.
www.fernando-teruya.com
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