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happy holidays from The Adventure Entertainment Cos.

Adventure Entertainment Cos. has new website.

The Adventure Entertainment Cos., an affiliate of StoneCreek Partners (“SCP”), has launched a new website at AEC Creative – in Beta form.   Some of the client experience and specific projects that have been listed here along with SCP experience will be moved over to AEC Creative.

 

The Adventure Entertainment Cos. (AEC) is a conceptual design and project implementation company, focused on themed attractions, location-based entertainment, and outdoor recreation.  AEC regularly collaborates with StoneCreek Partners during the project feasibility and conceptual design stages of client assignments, providing early “previsualization” of potential site organization, project massing and relative scale, and exploration of guest scripting and experience.

 

AEC has also established ventures with 3rd-party organizations for the operation of niche destination facilities in outdoor recreation (GoBOLD Adventures), creative campuses (Monumental Studios), and living stories (StagePlex).   These new ventures are led by highly-experienced professionals in these industries, including Paul Bierman-Lytle, Justin Zoladz, and Robert “Bob” Johnson, among others.  The purpose of Adventure Entertainment Cos. having a new website, is to prepare for more direct-to-consumer communications about these coming destination facilities.  The Adventure Entertainment Cos. is committed to the creation of destination experiences for major project as well as smaller intra-regional locations, that combine the outdoor recreation, extreme sport, themed, and location-based entertainment industries.

EB-5 Program Reauthorized

The EB-5 Program is Reauthorized

President Biden signed legislation today with the effect that the EB-5 program is reauthorized, in particular its Regional Center component, effective now through September 30, 2027.  The program is part of the EB-5 Reform and Integrity Act of 2022 (the “Act”), which itself is part of the Omnibus spending bill signed by the President.

 

The reauthorization of the Regional Center program follows an almost 9 month lapse, when prior efforts failed to extend the program beyond July 1, 2021.  The Regional Centers aspect of EB-5 have allowed foreign investors a special opportunity to invest in high-profile developments that they likely would not otherwise find accessible.  The EB-5 program had its controversies and numerous parties had worked to place safeguards to prevent fraud and encourage investment in areas that followed from the original intent of the program.

 

The EB-5 program allows foreign investors to invest a specified amount of capital into a U.S. enterprise that creates American jobs, in return for permanent residency.  With passage of the EB-5 Reform and Integrity Act of 2022, changes were made to the program to presumably improve its implementation.  The new legislation emphasizes compliance with EB-5’s intent along with enforcement procedures.   Program sponsors under EB-5 will face greater scrutiny in recordkeeping, investment types, audits, and investor communications.   The minimum EB-5 investment amount now increases to $800,000 from the current $500,000 for Targeted Employment Areas and Rural Areas,  and, changes to $1.05 million from the current $1.0 million for Non-Targeted Employment Areas.  These changed minimum investments apply to both regional center and direct EB-5 investments.

 

With the news that the EB-5 Program is reauthorized, a backload of foreign investors who were in the midst of processing last June, will hopefully soon see progress in the processing of their investment / visa applications.

 

The EB-5 Immigrant Investor Visa Program was created in 1990 by the Immigration Act of 1990.

The 15-Minute City concept gains tracking.

The 15-Minute City Concept Gains Traction

The-15-Minute City concept is gaining traction around the world as a placemaking tactic and means to enhance quality of life.   Although “city” is used in this coined term, this planning concept is more about a focus on livable neighborhoods and districts.

 

The “15-minute city” is a term for urban design and master planning wherein it is possible to meet the basic “needs of living” within a 15-minute walk or bike ride from a person’s home.  The needs of living include such services and amenities as:

 

  • Places of work, or, at least a coworking venue;
  • Grocers;
  • Pharmacies;
  • Schools for children, youth;
  • Health care or medical facilities, or simply, doctor and dentist offices;
  • Recreation, leisure and/or green spaces; at least a pocket or linear park;
  • Cultural venues;
  • Mass transit accessibility;
  • Affordable housing is assumed;
  • Flexible zoning to allow places with different day-part uses, such as local school facility that can be a community gathering place at night or on weekends; and
  • Places of worship are seldom mentioned as part of the 15-Minute City concept, but such places may be among the most successful community-building forces that have existed.

 

 

The planning term was first coined by by Prof. Carlos Moreno, a professor at Sorbonne University (Paris, France).  Prof. Moreno is the director of entrepreneurship and innovation at The Sorbonne.  Though popularized by the professor, the 15-Minute City concept itself  has been explored in major cities throughout the world from Melbourne to Portland, prior to its burgeoning popularity as an planning concept.

 

During 2020, the 15-Minute City concept has surged in interest as a sturdy planning concept alongside the increasing acceptance of coworking facilities and communities.   Coworking venues situated in close proximity to homes simply adds an additional destination within a 15-minute “neighborhood” that is vital within a 15-minute radii.

 

The 15-Minute City concept is a multi-faceted placemaking tactic.

Another aspect of making the 15-Minute City concept workable is the presence of affordable housing within each 15-Minute City cluster.  Many neighborhoods and districts around the world may work well for most required services and work places, but do not have the array of housing choices necessary.

 

Integrating the 15-Minute City concept with allied planning concepts is particularly interesting to local governments charged with numerous quality of life objectives and economic development initiatives.   A 15-Minute City imperative, as an example, is also deemed helpful in reducing the use of fossil fuels (vehicles), fighting carbon emissions, and thereby fighting climate change.  Also, applying the 15-Minute City thresholds of accessibility also advances the objectives for some groups in reversing local zoning codes to allow increased affordable housing options and thereby, more diversity, inclusion, and social justice.

 

The 15-Minute City concept has created such interest that purpose-built apps have been created to evaluate any particular location for 15-Minute City thresholds. Here Technologies (Eindhoven, Netherlands) is one such company that has created this kind of threshold’s map to answer the question – Do You Live in a 15-Minute City? We expect that the 15-Minute City parameters and software applications that track such notions, will join similar concepts as a niche investment asset class among those pursuing environmental, social, and governmental investments (so-called ESG Investing).

Economic Development Consultants for Tribes

Economic Development Consultants for Tribes

Our work as economic development consultants for tribes and other indigenous nations has expanded with additional services and new regions covered.

 

StoneCreek Partners’ client work with Native American tribes and pueblos, as well as Native Hawaiians, now includes Canadian First Nation tribes and organizations.   Over the years, StoneCreek Partners has also worked with indigenous nations in addition to those in North America, including those sovereign nations in the MENA region and the Pacific Rim.

 

The Covid-19 pandemic of 2020 has increased the interest in economic development plans that can reliably produce economic results – increased jobs, new investment, and enhanced quality of life.   And sooner than later.   Our economic sector analytics have an increasingly granular focus on real estate investment asset classes.    This is due to some types of investment now being in question, and relatively new asset classes commanding investor attention.

 

Our consulting focus is on projects that can be made to happen, and less on broad programmatic objectives.

 

Another focus is on the feasibility of specific projects.   As we act as economic development consultants for tribes we explore how development might occur in a particular region, focusing more on projects that can be made to happen, and less on broad programmatic objectives.   With specific projects identified, strategic partners can be identified and pursued.

 

Today’s economic development strategies can include all manner of visitor destination strategies, location-based entertainment, sports mega-complexes, life sciences projects, and other development can prosper within specific locations and markets.  Our experience with design management, development, facilities management, and with overall dealmaking and transactions allows us to take economic strategies through implementation.

 

What is a charrette? Charrettes explainedStoneCreek Partners is a business planning and development firm, with expertise that includes commercial real estate, hospitality, location-based entertainment, and direct-to-consumer technologies. StoneCreek Partners has provided economic development planning and program implementation support to Native American tribes and their sovereign development companies, as well as to similar city, county, and state organizations.

 

Our firm’s essential value to clients is our hands-on experience in designing, developing, and operating projects and businesses. StoneCreek Partners is led by co-founder Donald Bredberg and his substantial experience as an executive with The Irvine Company, NBCUniversal, and the Riyadh-based family office of Newfield Enterprises International.

 

The firm was first established in 1984 in Los Angeles, and is now headquartered in Nevada.  Our economic development consulting for tribal nations and other indigenous nations got started shortly after the firm’s founding.

 

Additional information about our economic development consulting practice is available at this link:

 

StoneCreek Partners – Economic Development Consultants

Planned Community Consultants - project feasibility consultants

Golf Participation Up 11% Over 2019

According to the National Golf Foundation, golf participation is up 11% over 2019.   The U.S. data through October 2020, is now at 10.8% ahead of 2019’s pace despite losing 20 million rounds in the spring due to the Covid-19 lockdowns.  In fact, October marked the fifth straight month that play has been up year-over-year in every state in the continental U.S.   This increased play translates to roughly 39 million more rounds nationwide than a year ago.

 

Operating results for the U.S. golf industry represent a marked improvement over the generally dismal outlook that has existed for the past decade.   The reduction in golf participation over the decade has caused an increase in golf course’s being redeveloped or repurposed to new use.   Even with golf participation up 11% over 2019, more courses will proceed to partial or full redevelopment.  Our golf course redevelopment tracking has started and we’ll begin reporting in January 2021.

 

According to the National Golf Foundation (“NGF”), in both 2009 and 2016, roughly a quarter of public courses admitted to being in bad shape, financially.  Among private clubs, 21% were doing poorly in ’09, but seven years later that proportion had dropped to 14%.  This year, there’s been a dramatic rise in the proportion of U.S. golf facilities reporting to be in good financial shape compared to previous NGF studies, including more than half of public courses and nearly 2/3 of private clubs.  And, fewer than 1 in 10 (public and private combined) suggest that they’re currently in bad shape (0-4).

 

The National Golf Foundation article is based upon information from Golf Datatech’s monthly report.  According to its website, Golf Datatech provides the golf industry with specialized market research covering retail sales, inventory, pricing and distribution, along with consumer attitude and usage studies and strategic sales and marketing consulting.

 

The full article by National Golf Foundation about golf participation up 11% over 2019 (year over year), is available here:

 

Tracking the Impact of Covid-19 on the Golf Business – November 2020

 

 

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