web analytics
ABOUT US
Feasibility Consultants for Planned Community

Feasibility Consultants for Planned Community

Feasibility consultants for planned community in San Bernardino County, California, as part of the project’s master-planning design team.

 

The site of the former Greenspot Ranch is a 1,046-acre planned community featuring 2,045 units of single family, condominium, and detached residential, commercial and 27 hole golf.  An equestrian area was also included in the overall master land use plan.   A planned unit development located at cross streets, Newport Avenue and Emerald Avenue.

 

As project feasibility consultants for this planned community, our work was part of ongoing master-planning and entitlements.   Specific financial analysis also evaluated the residential land value yield on specific enclaves of the development, estimating net margins that could be achieved in pad sales to end-builders.  Our work for this client was part of our land development consulting practice at the time, during the halcyon days of master-planned community development in the U.S.

 

The project was related to what was then known as the East San Bernardino County Water District, the name was changed to East Valley Water District in 1982. An annexation in September 2000 increased the District’s service area by 3,228 acres and included the Greenspot Ranch Area.

 

During the process of initial planning and securing overall land use entitlements, the project was purchased by Landmark Land Co., a New Orleans land developer.  Our work as feasibility consultants for this planned community, as well as the overall master-planning and entitlements, were competed prior to the sale to Landmark Land Co.

 

Landmark Land was a high-profile golf community developer with extensive landholdings and properties throughout the Western U.S.    Following a probe by the U.S. Securities and Exchange Commission, Landmark Land filed for bankruptcy protection and its affiliated savings and loan (“S&L”) was seized by regulators.

 

The seizure of Landmark Land’s S&L interests was part of somewhat forgotten major meltdown within the U.S. financial services industry.  Between 1986 and 1995, some 1,043 out of 3,234 savings and loan associations in the U.S., failed.  Before the crisis was concluded, the Federal Savings and Loan Insurance Corporation (FSLIC) closed or otherwise resolved 296 institutions, and the (then) newly established Resolution Trust Corporation (RTC) closed or otherwise resolved 747 institutions.

 

 

Project Consultants for Community Redevelopment

Project Consultants for Community Redevelopment

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.

Contact us for more information, we'll enjoy hearing from you.