A wide variety of market-rate and subsidize residential projects have been developed in urban, suburban and rural communities. Before these projects are constructed, market and financial feasibility investigations typically are conducted, and marketing and development approaches are formulated once these initial investigations are completed. Vantage Point Real Estate Development Management, LLC senior professionals have been retained to solicit and evaluate developer proposals, negotiate development agreements, and package these projects on behalf of a wide range of public, private and quasi-public entities.
Assistance has been provided to private property owners, including foundations and corporations, in assessing their land holdings along key transportation corridors in urban and suburban communities. Our senior professionals have assisted these parties not only through feasibility investigations, but also through rezoning deliberations and developer negotiations. Projects include a mix of mid-to-high density residential structures with associated amenities and parking. Many of these projects were developed as part of a redevelopment or revitalization effort undertaken in these communities. Acting as agents for cities and/or property owners, our senior professionals have also solicited third-party interest in adaptive reuse of older structures, including historic properties. Reuse plans usually incorporate the marketing of unique loft or other spacious units to young urban professionals and others interested in living near employment and cultural venues.
Active Adult/Retirement/Senior Care Communities
Fueled by an aging, more affluent population, many property owners, developers (both private and non- profit) and public entities are pursuing retirement projects. Our senior professionals have prepared predevelopment analyses and market assessments for these types of residential communities. Projects typically reflect residents with varying levels of health care requirements, and in some cases offer meeting and recreational facilities.
The demand for high-end, single-family subdivisions within or near urbanized areas has manifested itself in projects often benefiting private property owners, family trusts, foundations and others active in residential development.
Our senior professionals have assisted property owners and developers create resort residential communities nationwide. Often attracted by water amenities, pier facilities, promenades and other water-related features, purchasers of residential units at waterfront resort communities also enjoy golfing, tennis and other outdoor pursuits.
Our senior professionals have guided some of the first efforts by local governments to cause construction of workforce/affordable housing as part of market-rate projects. These efforts have addressed such concerns as rising housing costs, or pricing-out of low and moderate income households, and keeping these households from residing near good schools, employment centers and transit facilities. Equally important, these projects have promoted “smart growth” initiatives designed to counter urban sprawl and encourage green, sustainable development.
The workforce housing shortage is a difficult problem that will continue to impact communities nationwide. While no simple or easy solutions exist, Vantage Point Real Estate Development Management, LLC senior professionals have utilized many of the proactive tools available. These tools include using public/private partnerships that provide innovative and situation-specific solutions, including:
1. tax increment financing
2. expedited permit review and fee waivers
3. statute creation to include density bonus in exchange for workforce housing
4. community outreach to inform local residents of impact of workforce housing shortage
5. accessing federal, state and private funding sources (HOPE VI grants, low income housing tax credits, CDBG funding)
6. manipulation of land costs through long – term leases or land donations
7. embedding workforce housing into market rate and/or MXD’s