See LexingtonTN.org for more information. A Virtual Speculative Building is a structure that has been designed in a speculative way, but has yet to be built. Communities build speculative buildings to provide a ready-to-occupy structure to draw new business to the community. Historically, this ready-to-occupy “ideal” is rarely realized, with the speculative building needing extensive modifications to suit the specific needs of a new business. The result is a process that often equals, and sometimes exceeds, the timeline of building a new custom building. With a Virtual Spec Building, nothing has been actually built, but everything else has been done, making it easier to build a custom building, specially tailored for the new business.
Everything that can be done, short of final design and construction, has been done. A site feasibility study has been completed, showing the extent to which this site can be developed. Consultation with Architectural/Engineering professionals have yielded a preliminary design, ready to incorporate a prospective new business’ specific requirements. Consultation with Construction Professionals has yielded a cost/schedule analysis. Utilities analysis and upgrade planning has been done. And, an execution team has been established who have been overseeing this process with the cooperation of administrative agencies.