Adaptive re-use of obsolescent properties, an evaluation of potential repurposing alternatives for tribal casino and ancillary property. Using a highest-and......
As redevelopment project consultants, we are involved with the feasibility and implementation of regeneration, adaptive re-use, and revitalization of properties and facilities. We got started in this area of consulting for the Community Redevelopment Agency of the City of Los Angeles and numerous other city municipal redevelopment agencies. Much of this early work was prior to California’s governor obviating the use of California redevelopment agencies (and tax increment) as a local community revitalization tool.
Real estate redevelopment can include projects of various scope depending upon the objectives of the property owner. At the regional and local level redevelopment can refer to “urban renewal” and regeneration strategies to increase jobs and incomes. For particular properties or facilities, the work typically involves repurposing or adaptive re-use to meet new economic realities. In both instances, achieving “highest and best use” is part of the process.
Local community redevelopment is often a vital aspect of local economic development, with the authority of management and control vested in local communities. Local agencies typically focus on decent housing and genuine growth and improvement of employment opportunities. Local community redevelopment also involves blighted areas requiring public intervention and the redeployment of surplus properties held by Federal and State agencies as made available for local economic development.
As redevelopment project consultants, we work closely with public-sector clients to prepare and market RFP’s to solicit interest from qualified third-party developers. We provide objective assistance in the evaluation and selection of the most capable and experienced developer while optimizing client’s objectives including financial returns. From that point we are available to assist our clients throughout the negotiation process with such a selected developer. We have also worked for developers interested in submitting development proposals or local urban redevelopment projects and participation in community economic development programs, having a complete understanding of the process.