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Office and Industrial Consultants - Local government real estate consultants

Urban Core Revitalization – Spring Street Los Angeles

City of Los Angeles CRA  |  As real estate project consultants to the Los Angeles Community Redevelopment Agency, StoneCreek Partners provided financial analysis and evaluation of illustrative deal structuring for various public-private intervention strategies to achieve the economic turnaround and urban revitalization of the Spring Street corridor in downtown Los Angeles.  The redevelopment analysis included consideration of funded public subsidies, and transferred development rights.

 

Spring Street in downtown Los Angeles was once called “Wall Street of the West,” home to numerous major financial institutions, the old Pacific Stock Exchange, and many of the city’s finest office buildings dating back to the early days of downtown Los Angeles. A 1994 strategic plan for downtown called for a mix of public and private investment in retail, housing and commercial development.

 

Over the years, various efforts have sought to revitalize the Spring Street Corridor, including the successful opening of the Ronald Reagan State Building – at the corner of Spring Street and Third Street.

 

StoneCreek Project Experience - Economic Development Consultants

Los Angeles Metro Rail System

Los Angeles County Metropolitan Transportation Authority  |  Development strategies, including financial and market analysis, for so-called “joint pubic-private development opportunities” at Metro Rail stations.

 

Joint development refers to commercial development that is encouraged at such stations stops as part of the overall regional economic strategy for such transportation development. Work effort included a market study with financial recommendations to document the fiscal economic impact of such joint development strategies.

 

Metro Rail is an urban rail system serving Los Angeles County, California. It consists of six lines, including two rapid transit subway lines (the Red and Purple lines) and four light rail lines (the Blue, Green, Gold and Expo lines) serving 80 stations.  Metro Rail started service in 1990.

 

Tribal economic development, a partial, view, for Morongo reservation lands.

Economic Development Plan – Tribal Lands

Morongo Band of Mission Indians  |  As land development consultants, StoneCreek Partners prepared a tribal economic development plan for the Morongo Indian reservation that encompasses almost 50 square miles of land.  The work occurred at a time when tribal gaming operations were housed in a temporary prefabricated building situated in Cabazon (California) along Interstate 10 on the periphery of Palms Springs.  The economic development plan included an analysis of regional economic growth by sectors, the feasibility of potential business projects, and the specific suitability and infrastructure availability throughout the reservation.

 

The tribal economic development plan included a master plan and land development strategy for all lands along the interstate that leads in and out of Palm Springs.  Phase 1 conceptual plans included relocation of the tribe’s existing casino into the heart of a new master-planned development.  Casino Morongo Resort & Spa, a 304-room hotel with 113,000-square-foot casino, was subsequently constructed by Perini Building Company.  With its grand opening in 2004, the Morongo destination gaming resort became one of the largest tribal gaming facilities in the U.S.  The Morongo Indians had their start in the gaming business in 1983, when tribal members started a bingo hall.

 

The Morongo Indian Reservation was established in 1876, one of nine reservations created by a Presidential executive order of President Ulysses S. Grant.

 

 

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