We recently released an article naming the top types of commercial buildings well suited for insulated concrete forms. Banks were on that list.
Building demand for this type of commercial property is relatively inelastic in Alberta, as banks are called upon during strong economic times and uncertain ones alike. For instance, Canadian banks are reaping the benefits of the new U.S. administration’s pro-growth policies, forecasting tax cuts with lighter regulation and fiscal stimulus to boost market confidence. Canadian banks with substantial operations in the United States have seen shares soar since Trump’s election. The current result, is that Canadian banks are looking to expand not just across the border, but at home too, Alberta included. Savvy as ever, the financial institutions are seeking to hedge the risk of this expansion by not only revisting their business models, but by seeking out a more efficient means to build their physical properties too.
As a commercial builder in Alberta, you will want to be prepared to accept the wave of banking institution expansion in the province. That includes having the ability to offer interested parties and stakeholders with a building method that meets their call for optimal efficiency. It’s a good thing you’re reading this.
3 Reasons Why ICF is the Answer for Financial Institutions Seeking to Expand in a More Efficient Manner
1. Lower Total Cost of Construction
There is nary another type of business that pays more attention to the longterm bottom line than a bank. It’s what they do. The concern is not so much what it will cost to construct their building today, but what the ongoing expenditure will be like because of it. This is where the use of insulated concrete forms in construction shines brighter than ever.
ICF lowers this longterm cost in three key ways. For one, energy efficiency. NUDURA Insulated Concrete Forms delivers a thermal resistance R-Value of pleproximately 23.6. That means the building will absorb and store heat energy much more efficiently than practically any other form of building material out there, resulting in the single most cost-effective reduction in the financial institution’s total operating cost. Then there is the speed of construction that occurs in the first place. The use of ICF allows the bank build to reach fruition faster than traditional methods, allowing them to open up doors to the public and strike while the economic iron is hot (as they see it) and begin bringing in that ROI. Lastly, ICF-constructed buildings come with a higher safety rating thanks to their ability to withstand storms, wear and tear, and manmade external threats (more on the latter below). This delivers lower insurance liability and premium concerns and ultimately adds to the overall equation that makes ICF the most fiscally responsible form of building for banks.
2. Building Security
You think of two things when you consider a bank, money (addressed above) and security (addressed here). When it comes to practical building methods, one is very hard pressed to find a more safe and secure solution than ICF. Banks help hedge their security risk in two key ways here. For one, an ICF wall is constructed from Expanded Polystyrene (EPS) and reinforced concrete that can incorporate reinforcement bars which altogether forms an impenetrable building envelope. Factor in the fact that NUDURA products (provided in Alberta by Total ICF) boast a United States military tested TNT blast radius of just 6-feet, and you’ll find that bank security management will be begging stakeholders to adopt this modern building method.
3. Optimal Architectural Design
Financial institutions are no longer overtly institutional in their architectural planning and design. Just as competitive as any other form of commercial business, they must keep up to date with B2B and B2C consumer demand. This demand calls not only for a diverse set of financial products and services, but for a better branch experience. Recent studies show that 54% of the banking population prefers that new branches (anchored by flagship locations) be smaller, and located in more convenient locations for transactional purposes. Because these branch expansions serve the needs of those wanting a more commercialized experience, aesthetics and design are just as important to their consumer journey. ICF allows for it all, delivering a quick, convenient, visually appealing and economically viable expansion alternative.
Open up your proverbial account with Total ICF today, to learn more about how we can help you build better banking institutions in Alberta.