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StoneCreek Partners / Posts tagged "California real estate projects –" (Page 5)
Feasibility Study for Mixed-Use Urban Infill

Feasibility Study for Mixed-Use Urban Infill Project

15.06.2014 Experience with C-Store Fueling Stations, Mixed-Use Development Consultants, Real Estate Advisory Services -

Feasibility study for mixed-use urban infill project envisioned for a key intersection in the Hollywood community of Los Angeles, California.

 

The market study with financial projections and facility recommendations for the proposed mixed-use development included an office tower, hotel, and ground floor retail stores.  Various schemes were evaluated including one version featuring a prominent c-store fuel station.

 

The project to be located at well-known Los Angeles intersection of Sunset Boulevard and N. La Brea boulevard, in what is now the City of West Hollywood.     This intersection and this part of greater Los Angeles, experiences particularly high auto traffic.   The project of Goldrich & Kest Industries LLC was not pursued at the time.

Lifestyle Retail Center – Initial Redevelopment Feasibility

24.08.2012 Redevelopment Project Consultants

Stats Pasadena in collaboration with Marc A. Futterman & Associates – Assignment with the owner of this prominent redevelopment property in the Old Pasadena area of the city. The owner operates a wholesale and retail decorative business from the site.

 

Working in collaboration with project architect Marc A. Futter & Associates, an illustrative guest experience program was created based on the heritage of the city and the neighborhood, and integrating tenant leasing strategies, experiential multi-media ideas, live event programming, and potential sponsorships.

 

The project would be situated on one end of the historic Old Town Pasadena area (California). Old Pasadena encompasses a district from Holly Street on the North to Green Street on the South. Colorado Boulevard is the primary pedestrian and automobile route that traverses the district, although the many side streets, alleyways and sidewalks provide the distinct character of Old Town Pasadena along with the many restored historic buildings in the district.

 

Project Consultants for Community Redevelopment

Project Consultants for Community Redevelopment

01.11.1999 Economic Development Consultants, Public Sector Work, Redevelopment Project Consultants, Tourism Destination Strategy Consultants

Project consultants for community redevelopment providing analysis and due diligence required for “blighted area” designation, in connection with the 1,107-acre community redevelopment project area for the Hollywood community (Los Angeles, California).  The Hollywood Redevelopment Plan was subsequently formally approved and placed under management of the City of Los Angeles redevelopment agency.

 

Our work as redevelopment project consultants included extensive review of companies, jobs, and residents within the proposed redevelopment project area.  Among the interesting analytics to emerge from this due diligence, was our compilation of the extensive industry “back-of-house” that existed throughout Hollywood – the myriad of professionals and small businesses that together are the foundation of Hollywood’s film, television, music, and overall creative industry.  Among many, one rationale for the Hollywood redevelopment project area was simply the need to preserve an enhance this foundation of creative industry small businesses throughout Hollywood – an economic development imperative.

 

Among the projects pursued according to the redevelopment plan was Hollywood & Highland which opened in November 2001, a development of TrizecHahn.   Hollywood & Highland was part of a strategy to revitalize Hollywood Boulevard.  The well-known urban entertainment project was built with partial funding from the Community Redevelopment Agency.

 

Our work in providing the due diligence support for this required blighted area designation was on behalf of the Community Redevelopment Agency of the City of Los Angeles, at the time, the municipal agency response for the Hollywood district.  More precisely stated, our work and the redevelopment plan was prepared by the Community Redevelopment Agency of the City of Los Angeles, California (the “Agency”) pursuant to the Community Redevelopment Law of the State of California (Health and Safety Code, Section 33000 et seq.), the California Constitution, and all applicable local codes and ordinances, and is based on the Preliminary Plan as amended.

 

Our work and the resulting redevelopment project area designation was prior to action taken by former California governor Edmund Gerald Brown Jr. in 2011, to abolish the hundreds of local California community redevelopment agencies.   The Governor later sought and secured voter approval in 2015 for the rebirth of incentivized local redevelopment  through the Community Revitalization and Investment Authorities (“CRIAs”) Act (California Assembly Bill 2).

 

 

Project Consultants for Community Redevelopment

Project consultants for community redevelopment, regarding the redevelopment project plan for the Hollywood district of Los Angeles.

Disposition Valuation for Residential Assets

Disposition Valuation for Residential Assets

01.01.1985 Due Diligence Consultants, Project Consultants for North America, Residential Housing & Apartments

Disposition valuation for residential assets as part of a capital recovery plan in connection with a luxury “resort residential” development.  Our work included the feasibility analysis of alternative disposition strategies as well as preparation of select due diligence materials for use by 3rd-party buyers.   Some operating arrangements of interest to prospective acquirers included community association issues, third-party sales agents agreements, and project permits and entitlement-related matters.

 

The alternative disposition strategies included:  1) continued hold, build-out, and sales (status quo); 2) same as first alternative but in joint venture with a new capital partner; and 3) the complete sale of the project “as is.”

 

The Hamilton Cove property is located on Catalina Island, just 26 miles off the coast of Southern California.   The resort-residential community is situated within a private cove next to the town of Avalon, the main community of Catalina Island.   At the time of our disposition valuation for these residential assets,  many of the secluded villas of Hamilton Cove were offered for rent for weekend, weekly, and seasonal occupancy, and this fractional use was part of our valuation.

 

Catalina Island history goes back well before recorded times.   Apparently, the Pimungans of Santa Catalina Island first met European travelers in 1542 – when the native peoples paddled out to greet Spanish explorer Juan Rodriguez Cabrillo and his galleon – just 50 years after Columbus first entered the Western Hemisphere.  On this basis, the island was claimed by Spain. Santa Catalina Island was awarded to Thomas Robbins by Mexican Governor Pio Pico, as a land grant in 1846.   The land grant by Governor Pico was made just four days before the U.S. invaded California.

 

Our disposition valuation for these residential assets was part of an overall BCE Development Corp. portfolio sale involving the company’s properties in the western U.S., which included the Hamilton Cove resort-residential community.

Hotel Development Consultants - Due diligence consultants

Huntington Hotel Pasadena

19.08.1982 Due Diligence Consultants, Hotel Development Consultants, Project Consultants for North America, Property inspection services

Feasibility study for required capital improvements program related to the Huntington Hotel Pasadena (subsequently rebuilt as the Ritz-Carlton Hotel Pasadena, now The Langham). The hotel, owned by a major Japanese investment and development organization, was determined to require major life-safety (earthquake reinforcement) upgrades as well as wide-ranging improvement to guest areas including rooms and restaurants.

 

Our hotel consulting work included a market study, financial projections, capital improvements budget review, and an investment performance evaluation to justify required capital items. The objective was to determine the overall feasibility of various disposition, reconstruction, or substantial renovation alternatives in connection with a pre-litigation evaluation of Owner’s options.

 

Hotel later rebuilt as the Ritz-Carlton Huntington Hotel.

 

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