Parkhill Partners, LLC | Real estate project consultants providing feasibility and financial analysis support in support of master-plan by Parkhill Partners. Parkhill was the development company for City Centre Development which was ultimately acquired for development Greenland USA, as The Metropolis.
The 161,000-square-foot site is between 8th, 9th and Francisco streets and the Harbor Freeway.
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.
Due diligence for science park, and technology incubator, envisioned for the Destiny Africa Ecosphere mega-development planned for George, South Africa. Destiny Africa Science & Technology Park was envisioned as a cutting-edge research and development facility as part of an economic development strategy for the George region of South Africa. The business park was intended to specifically include select life sciences companies as part of the initial tenant mix.
The park was designed to operate in close association with major regional colleges and universities, as well as South African and international companies. A project of KDMC, the 456-hectare Destiny Africa development in George was to include a business incubation park, a knowledge park, and the science and technology park. George is a city in South Africa’s Western Cape, on a coastal stretch known as the Garden Route.
StoneCreek Partners prepared various due diligence in connection with the project. A feasibility analysis of the market support for such a facility, with extensive review of comparable projects in other world regions in order to benchmark the facility standards for Destiny Africa.
As part of the due diligence for this science and technology park, a detailed evaluation of the long-haul convention and conference business was included with the work.
The overall project was master-planned to include retail and commercial developments such as hotels, destination conference/meeting facilities, shopping areas and residential property.
According to the International Association of Science Parks and Areas of Innovation, … a science park is an organisation managed by specialized professionals, whose main aim is to increase the wealth of its community by promoting the culture of innovation and the competitiveness of its associated businesses and knowledge-based institutions. To enable these goals to be met, a Science Park stimulates and manages the flow of knowledge and technology among universities, R&D institutions, companies and markets; it facilitates the creation and growth of innovation-based companies through incubation and spin-off processes; and provides other value-added services together with high quality space and facilities. The expressions “technology park”, “technopole”, “research park” and “science park” encompass a broad concept and are interchangeable within this definition. The acronym STP (science and technology park) is used to refer to all of these expressions.
Al-Shehail Group (Riyadh) / Hopkins Development | As land development consultants we provided a project feasibility for a golf community, with market study, capital budget estimate, and financial projections. Residential product recommendations for the single-family and attached housing units in the development were provided, along with facilities suggestions for a community clubhouse that could support golf as well as additional outdoor recreation offerings.
The project had the working name, Mountain Meadows Golf Community, of McGaheysville, Virginia. McGaheysville is situated near the south fork of Shenandoah River in the heart of the Shenandoah Valley.
This due diligence and feasibility evaluation was to support the Al-Shehail Group of Companies’ potential investment. The site for this to-be-built master-planned residential golf community is situated in rolling meadow lands and foothills near McGaheysville, near Massanutten Ski Resort. The 300-acre project included 420 units in this master-planned golf community.
Following the due diligence effort, StoneCreek Partners was retained by the Al-Shehail Group to revamp and fine-tune the project master plan. Objectives included maximization of the housing along 16,900 lineal feet of golf course frontage. Project naming and naming conventions were also reworked, and golf signature holes were configured to minimize and balance on-site grading. An interesting aspect of the residential product placement on the site, was providing both a direct view onto golf as well as onto the scenic “long views” onto surrounding Shenandoah Valley foothills and mountains.
The master planning work was directly based on the project feasibility for golf community, previously prepared.
Community Redevelopment Agency of the City of Los Angeles | As a real estate consultant on retainer with the Community Redevelopment Agency of the City of Los Angeles, a feasibility evaluation was prepared of a potential transfer of development rights (TDR) program.
The program was intended for the city’s central business district (downtown) area.