Turning Liabilities into Investments:
From BLIGHT to BRIGHT, from OLD to BOLD, from VACANT to VIBRANT…this is the same storyline for all our projects.
Old buildings that have outlived their original use can be major burdens for communities and their taxpayers. Maintenance costs, tax revenue loss, vandalism, asset deterioration, vagrancy, and theft are all problems that result from buildings sitting vacant for extended periods of time, blighting their areas.
Many of these buildings have significant historical value. But without action, they continue to deteriorate and their burden on the community will continue to grow.
We love redeveloping all types of historic buildings because the results reinvigorate the surrounding neighborhoods. We specialize in repurposing, rebuilding and transforming these burdens into vibrant examples of success. What were once financial negatives become healthy financial contributors to their communities.
Our approach has saved many historic sites from deterioration and demolition, and facilitated their transformation into something lauded by the community (even by former critics!). These redevelopment projects produce new taxes, new jobs, new residents, new revenues for local businesses, and a renewed relevance of the sites for future generations.
Almost all our award-winning projects started with the deteriorated and blighted state of a key community property. The owner (often the locality itself) had expensive upkeep duties, troublesome abatement liabilities, and a building that was functionally obsolete and burdened with non-code-compliant and outdated systems. There was typically no redevelopment plan, and – even if a concept existed – no funding for the project. These community leaders were struggling with a problem that we helped solve together. Please contact us for our many references. Project success is always our priority; we pride ourselves in being able to execute projects, not just talk about them.
Experience and Methodology That Delivers:
Let’s work together to prevent historic community treasures from ending up in landfills. Keeping such buildings and giving them new uses for future generations preserves a window into the story of a place, and retains a vital part of the character of the community.
We are dedicated to meaningful community redevelopment projects. Our real estate development team is led by seasoned professionals and expert consultants to structure development financing and manage the development process. We are the owner/developer of these projects, managing the complete development process, including financing, design, vendor selection, and construction management. We are the key capital investor in our projects, and we strive to be a good long-term neighbor in the host community. We handle it all, including:
- Conducting site due diligence and structuring business terms
- Developing project financial models in preparation for the commercial financing process
- Securing equity and debt commitments for a project
- Preparing fiscal impact statements and negotiating incentives from localities (where applicable)
- Leverages incentives capital sources available to the project, including Historic Tax Credits, grants, tax abatement programs, and low-interest loans to bring cash or equity to a deal which can be used to eliminate or reduce long-term debt, or create operating reserves
- Structuring infrastructure funding strategies as needed
- Securing site entitlements and managing project permitting
- Managing contractor/vendor selection and construction activities
- Managing lease-up/operations and/or disposition activities.
Please contact us to start this process that’ll lead to a redevelopment success in your community!