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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.

 

Project Feasibility Study for Partial Golf Repurposing

Feasibility Study for Partial Golf Repurposing

Feasibility study for partial golf repurposing for a part of an existing public daily fee golf course, located in an exurban area of greater Los Angeles.

 

Initial schematic design and project feasibility analysis of proposed “family entertainment center (FEC)” to serve an upscale community of the Conejo Valley area of greater Los Angeles. Work included facilities recommendations, guest events and activities, and strategic marketing considerations.

 

The project was an opportunity to repurpose an underutilized portion of an existing golf course, and achieve partial highest-and-best-use.   In this feasibility study for partial golf repurposing, the golf practice range would be relocated.   This relocation would create an excellent commercial pad for the intended re-use, with direct freeway visibility.   The required re-routing of existing golf irrigation lines, storm drainage, and outdoor lighting was minimized as a part of the feasibility evaluation. The design for the relocated golf practice range included additional putting and chipping areas for golfers using the practice facility as a standalone out-of-home activity.

 

Most project information and specific location are intentionally obscured, at client request.   This work on behalf of the golf course owner is an example of a recent golf industry trend, of golf assets being evaluated for potential renovation and/or redevelopment to achieve highest-and-best-use of the underlying property.

 

 

Golf Course Redevelopment Consultants

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.

Joint Development Strategies for Metro Rail

Joint Development Strategies for Metro-Rail

Los Angeles County Metropolitan Transportation Authority  |  Acted as local government consultants to the City of Los Angeles providing Joint Development Strategies for Metro-Rail development, including financial and market analysis, for so-called “joint pubic-private real estate development opportunities” at potential Los Angeles 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 feasibility studies with financial recommendations to document the fiscal economic impact of such joint development strategies.  Our work providing joint development strategies for Metro-Rail also included identification of analogous projects from other regions, and prototypical public-private mixed-use developments at specific Metro Rail stations.

 

Los Angeles Metro Rail is an urban rail system serving Los Angeles County, California, operated by the Los Angeles County Metropolitan Transportation Authority.  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 93 stations.

 

L.A.’s Metro Rail started service in 1990.  Metro Rail had two predecessors which unfortunately were discontinued for reasons unrelated to ridership success.  The prior rail services were the the famed Pacific Electric Railway Company a/k/a the Red Cars and the Los Angeles Railway Yellow Car lines, which operated between the late 19th century and the 1960’s.  The Red Cars was a privately owned mass transit system in Southern California consisting of electrically powered streetcars, interurban cars, and buses and was the largest electric railway system in the world in the 1920s.   There are still vestiges of the old Red Car system in Los Angeles, visible in the lot lines and building edges that were once situated along the Red Car route alignments.

 

Local government real estate consultants

StoneCreek Partners has acted as local government consultants for real estate development, for an array of federal, state, regional and local municipalities and agencies.

StoneCreek Project Experience - senior housing consultants

Pasadena Highlands Senior Housing

Market and financial feasibility study to support a 3rd-party appraisal report.   The senior community’s amenities include a library, arts and crafts room, theater, beauty shop, and a gated parking garage.

 

At the time of our work the facility was known as Sierra Bonita Tower.  Many years after our work was completed, this facility became a WellQuest Senior Living Community.  Located in Pasadena, California.   This project work completed by an SCP professional while with a predecessor firm.

 

 

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