Project Feasibility Consultants Archives

Mixed-Use Redevelopment Entitlement and Permits

The EB-5 Program is Reauthorized

President Biden signed legislation today with the effect that the EB-5 program is reauthorized, in particular its Regional Center component, effective now through September 30, 2027. The program is part of the EB-5 Reform and Integrity Act of 2022 (the “Act”), which itself is part of the Omnibus spending bill signed by the President.

The reauthorization of the Regional Center program follows an almost 9 month lapse, when prior efforts failed to extend the program beyond July 1, 2021. The Regional Centers aspect of EB-5 have allowed foreign investors a special opportunity to invest in high-profile developments that they likely would not otherwise find accessible. The EB-5 program had its controversies and numerous parties had worked to place safeguards to prevent fraud and encourage investment in areas that followed from the original intent of the program.

The EB-5 program allows foreign investors to invest a specified amount of capital into a U.S. enterprise that creates American jobs, in return for permanent residency. With passage of the EB-5 Reform and Integrity Act of 2022, changes were made to the program to presumably improve its implementation. The new legislation emphasizes compliance with EB-5’s intent along with enforcement procedures. Program sponsors under EB-5 will face greater scrutiny in recordkeeping, investment types, audits, and investor communications. The minimum EB-5 investment amount now increases to $800,000 from the current $500,000 for Targeted Employment Areas and Rural Areas, and, changes to $1.05 million from the current $1.0 million for Non-Targeted Employment Areas. These changed minimum investments apply to both regional center and direct EB-5 investments.

With the news that the EB-5 Program is reauthorized, a backload of foreign investors who were in the midst of processing last June, will hopefully soon see progress in the processing of their investment / visa applications.

The EB-5 Immigrant Investor Visa Program was created in 1990 by the Immigration Act of 1990.

Strategic Marketing Consultants - project feasibility consultants

Sierra Crossing Mixed-Use District

01.09.2019 Experience with C-Store Fueling Stations, Malls and Shopping Center Consultants, Project Feasibility Consultants, Strategic Marketing Consultants

The Allen Group | Project feasibility evaluation including tenant mix, leasing, and anchor tenant strategies for this potential mixed-use district planned for Bakersfield, California. Work including consideration of project naming convention and selection of project name. Also provided retailer presence grid and analysis for retailers in the region, and those that were not.

Work included collaboration with owner’s team and project architect on land planning issues for a mixed-use program of power center, lifestyle center, and general-purpose for-lease office buildings.

Feasibility Study for Hotel Project

01.09.2019 Hotel Development Consultants, Project Feasibility Consultants

Feasibility study for hotel project at LAX in Los Angeles, including market analysis, a relative order-of-magnitude (“ROM”) capital budget, facilities recommendations, and financial projections. Our financial projections included several scenarios to estimate varying potential operating results depending upon the build-out and facilities enhancement program at Los Angeles International Airport.

As hotel development consultants we provided a project feasibility report, including market analysis with financial projections, facility recommendations, and hotel franchise affiliation recommendations, for this (then) planned commercial hotel situated along Century Boulevard at the Los Angeles International (LAX) Airport.

The facility was eventually designed for 747 guest rooms within a 12-floor building envelope. An interesting aspect of the hotel feasibility analysis was identifying the facilities and amenities to attract business travelers to stay in the airport area rather than the extensive overnight accommodations available throughout Los Angeles.

Our work was prepared for Watt High-Rise, Inc., then an operating division of the Watt Companies. Inc. headquartered in Santa Monica, California. Watt Companies has developed a diversified portfolio of real estate properties, including commercial real estate, hotels, and master-planned communities.

The property opened as a Stouffer Hotel and was later re-flagged as The Westin Los Angeles Airport. Our work as development feasibility consultants in preparing the project feasibility study for this hotel project, was completed prior to the branding change from Stouffer branding to Westin.

Strategic Planning Consultants - project feasibility consultants

Microbrewery Feasibility and Business Plan

13.09.2018 Project Feasibility Consultants

As strategic planning consultants for this proposed new business, StoneCreek Partners supported client exploration of best means “meet the market.”

A microbrewery can take on a variety of formats, primarily related to scale of production, objectives for wholesale business, and the importance of associated brewpub operations. With the wholesale business there are issues of distribution including the option of self-distribution. The microbrewery can have a taproom (tasting room) but this function can have a fuller realization as a brewpub. The overall facility can offer itself as an event facility, or itself produce special events that help to promote the facility. And of course, the facility can offer direct-to-consumer “carryout” product and branded merchandise.

Consultant for Mixed-Use Development

21.08.2018 Mixed-Use Development Consultants, Project Feasibility Consultants

Consultant for mixed-use development to be located in the Niagara region of Ontario, including feasibility analysis and conceptual design. The mixed-use project, with the working name “Cross Link Niagara” is a hybrid resort with substantial retail-entertainment and outdoor recreation anchors. The project has since been renamed along with a change of ownership. The project site is situated adjacent to the historic central business district of Niagara Falls (Ontario, Canada).

StoneCreek Partners was retained as the feasibility and business planning consultant for this 51-acre mixed-use development, for the purpose of preparing a property offering memorandum to describe the project to third-party investors and strategic partners.

The master plan for Cross Link Niagara includes a man-made downhill (artificial surface) ski slope, a retail outlet mall, resort hotels, destination spa, a family entertainment center (FEC), and additional destination recreation and attractions. In total, the “mega project” is envisioned to encompass 2.1 million+ SF of gross buildable area. Cross Link Niagara is envisioned as a multi-faceted mixed-use development that will augment and propel the Niagara region’s tourism industry with an array of new attractions.

Shown here, the architect’s view of the area context for the Cross Link Niagara project, with the Niagara river at left of the drawings.

The artificial ski slope at Cross Link Niagara was envisioned to use a Snowflex dry slope technology and materials. Dry ski slope (a/k/a artificial ski slopes) mimic the attributes of snow using materials that are stable at room temperature, to enable people to ski where natural slopes are inconvenient or unavailable. Dry slope skiing has been around since the 1960’s. Many of the “dry ski” slopes are lubricated using mist or jet systems to increase speed and prevent damage to equipment from friction heat build-up.

Cross Link Niagara, LLC was the legal entity and owner of the project at the time of this work, and was subsequently acquired by Cocov Destinations (Toronto).