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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.


Retail-Entertainment Consultants

Hampton Crossroads

Feasibility study with market and financial projections, along with tenant mix, leasing roster, and retail-entertainment programming options.  For an entertainment district adjacent to Hampton Coliseum in Hampton Roads, Virginia.


Conceptual site planning, leasing plan, development budget, and business plan for proposed mixed-use retail-entertainment complex adjacent to Hampton Roads Convention Center and Hampton Coliseum, and across the road from the Power Plant retail center along Interstate 64.


Project Feasibility for Golf Community

Project Feasibility for Golf Community

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.




Due Diligence for Shopping Center Acquisition

Due Diligence for Shopping Center

Due diligence for shopping center acquisition, the Phillips Edison & Company, Inc. (REIT) acquisition of Lakeside Plaza in Salem, Virginia.


StoneCreek Partners provided due diligence consulting in connection with buyer’s shopping center acquisition, including property inspections, Phase 1 environmental reviews, tenant lease confirms, and rent rollover analysis, for this grocery-anchored community shopping center.   Support of the buyer included preparation of tenant lease abstracts, estoppels, SNDA (subordination, non-disturbance and attornment) provisions, and a review of common area charges (CAM) and vendors, among due diligence items.


Tenancies at Lakeside Plaza shopping center included a typical roster of anchor and inline retail tenants.   The due diligence for this shopping center acquisition included co-tenancy considerations with regard to an on-site Kroger Fuel Center (a branded c-store gas station) albeit with limited convenience store offerings.


Salem is an independent city in Virginia adjacent on the east with the city of Roanoke (Virginia).  The city is located in southwestern Virginia in a scenic setting along the Blue Ridge Mountains  The shopping center is located at 161 Electric Road, Salem, Virginia 24153.


Phillips Edison & Company, Inc. (Cincinnati) is an internally-managed real estate investment trust (REIT), one of the largest owners and operators of grocery-anchored shopping centers in the U.S.  The company has purchased and managed more than 300 grocery-anchored shopping centers throughout the U.S.

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