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Real Estate Advisory Services - Senior housing consultants

Richmond Senior Village – Project Feasibility

Confidential  Client  |  Project feasibility evaluation in progress; involves redevelopment (regeneration) of now demolished facilities.   Project site in the greater Richmond (Virginia) area.

 

Work includes evaluation of highest-and-best development opportunities for the site, with detailed evaluations of specific land uses.    A continuum of care concept for seniors is part of concept testing, along with specific categories of the continuum including free and independent living, assisted living for seniors, skilled nursing facilities, and the like.   Non senior land uses are also in evaluation.

 

Work as opportunity zone consultants also includes entitlements, zoning and permitting review, capital budgeting, operating projections, and project risk assessment.

 

 

Opportunity Zone Consultants

Burton Station Urban Village

As real estate consultants for project feasibility, StoneCreek Partners provided feasibility analysis, a conceptual site plan and rapid-prototyping massing study, and business plan for proposed mixed-use urban village to be developed on infill properties in Virginia Beach, Virginia. Components of the urban village to include office space, main street retail, hotel, senior living, and for-sale housing.

 

In addition to the subject Project, the neighborhood in which the Project is situated continues to be a major focus for redevelopment and regeneration, for developments featuring for-sale housing, apartments, and shopping facilities.  One of the more recent developments in the neighborhood is Norfolk Premium Outlets, a Simon Property development which opened in June 2017.    A new regional IKEA store is now in development in close proximity, further enhancing the regional retail draw of the Project’s immediate neighborhood.

 

The Project site is well situated within the Hampton Roads region, just off the Hampton Road Beltway (Interstate 64).    The Hampton Road Beltway is the primary transportation route through the Hampton Roads region.   Hampton Roads refers to the Virginia Beach-Norfolk-Newport News, VA-NC metropolitan area, which includes the cities of Virginia Beach, Norfolk, Chesapeake, Hampton, Newport News, Portsmouth, Suffolk, Poquoson, and Williamsburg.   The resident population of the Virginia Beach-Norfolk-Newport News, VA-NC metropolitan area ranks among the top 50 metropolitan areas of the U.S.

 

Redevelopment Project Consultants - mixed-use development consultants

Harbor Park Ideation & Master Planning

aec   Providence Partnership LLC  |   Ideation and conceptual master planning for mixed-use gaming destination at Harbor Park, Virginia.  The entire project site is situated within a Federally-designated Opportunity Zone.    Harbor Park is situated along the Elizabeth River (Norfolk harbor) – a working harbor featuring shipbuilding, refitting, etc., and associated with the largest naval base in the world.

 

Infrastructure issues include rerouting E. Water Street to connect directly with Park Avenue, and possibly rerouting Tide light rail line to follow a new E. Water Street / Park Avenue alignment.   Power lines of Dominion Energy are the main power source serving downtown Norfolk and would need to be rerouted.     As well, the entire site would likely need to be raised to meet 100-year floodplain issues, with the existing seawall rebuilt.

 

Illustration work shown here is a product of aec‘s Rapid Prototyping Unit, combining feasibility results with preliminary project scaling, layout, and overall guest experiential design – created to assist Ownership group in confirming design intent and project budgets.