Tahoe Regional Planning Agency | Real estate feasibility and due diligence study with regard to a proposed transfer of development rights program in exploration by TRPA.
Ocean Port Marina, LLC, a joint venture of Hattaway-Starr and Adventure Studios Enterprises | Conceptual design and project feasibility evaluation for super-yacht marina facility at Port Canaveral (Florida). Project involved redevelopment (regeneration) of existing marina venue.
Pre-development entitlement, planning and design work in connection with proposed joint venture in Ocean Port Marina. Work included overall market support evaluation, financial projections and investment analysis, and first steps in entitlement process. Ocean Port was envisioned as a super yacht anchorage and water- front entertainment village.
The anchorage was designed to feature more than 70 slips sized for super yachts, making Ocean Port the largest such super yacht marina in the world. Ocean Port would include a waterfront entertainment village, a destination quality town center and recreation complex for visitors and the residents of surrounding communities of Cocoa Beach and Cape Canaveral.
Ocean Port would meet the worldwide demand for luxury yacht and larger super-yacht slips, which will soon far outpace in-place inventory. Ocean Port will exist within Port Canaveral, the busiest cruise port in the Western Hemisphere. Port Canaveral has emerged since its dedication in 1953 as a major deepwater port of entry with first-class berthing facilities, a thriving marine commercial park and foreign trade zone, and successful cruise and cargo industries. It is also the world’s first quadra-modal hub, interchanging freight among sea, land, air and space transportation modes.
Ocean Port is one of the few places worldwide, where new super-yacht slips can be constructed economically, and without the requirement for new permitting. Port Canaveral, where Ocean Port is situated, is a deepwater port that provides the channel depths required by super-yachts. This is a very unique factor in Ocean Port?s favor, as very few ports and small-craft harbors serving the world?s yachting community offer significant channel depths. As significant, Ocean Port offers slip-to-Ocean travel time of ten (10) minutes, along a direct route through Port Canaveral. This direct Ocean access is a highly unique attribute of the project. Ocean Port is also exceptionally well located, given regional recreational waterway activities, and domestic and international visitation to the greater Orlando area.
Located within Port Canaveral, Ocean Port is situated convenient to the 1,200 mile Atlantic Intra-coastal Waterway. As well, from dockside to airport runway, Ocean Port is situated just 30 minutes from Orlando International Airport. As is well-known, the greater Orlando metropolitan area is one of the world?s largest leisure and entertainment destinations, rivaled only by Las Vegas.
The site for development of Ocean Port is situated in an area of major marina recreational activities. Across from Ocean Port, major cruise line terminals for cruise ships including Disney Cruise Line and Fantasy Cruise Lines occupy the marina. Along the barge canal, shrimp fishing boats, sport fishing boats, and numerous boat owners keep their boats in slips or in dry dock through out the area. State Route 528, which passes east-west just south of Ocean Port, provides direct access from the site to Orlando.
Saudi-Egyptian Red Sea Investment Co. | As hotel (and resort) development consultants we provided a market study with project development costs and financial projections for this major 82-acre resort development in Hurghada, Egypt.
The property for development was first purchased in 1993 and experienced a long holding period awaiting construction permits, followed by litigation regarding the public beach road that traverses at or about the property.
The ownership group was represented at the time by Abdul Aziz Al-Shehail.
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.
Management review of port district leasing practices, including lease administration and lease rate.
The Port of San Diego was interested in confirming whether or not its ground lease rates, issues of highest and best use, deal terms, and operating polices were at par with “best practices” at other world port districts, particularly, at U.S. West Coast port facilities. A study was undertaken concerning regional market conditions, competitive conditions at other world ports, “best practices” at such other ports, and other related factors. Recommendations were prepared for consideration by the Port of San Diego, with regard to lease rate-setting and deal terms.
The Port of San Diego is a special government entity, created in 1963 by an act of the California legislature in order to manage San Diego Harbor, and administer the public lands along San Diego Bay.