A significant transformation has occurred in the waterfront areas throughout the United States. Areas that once served as gateways to the city and significant centers of transportation, trade, manufacturing and warehousing are now becoming new places with civic identities where shopping, recreation, residential, entertainment and lodging projects have been built. Spurred by the changing functional role of waterfront properties for transportation and commercial facilities to more pedestrian uses, these areas have been the focus of attention for redevelopment projects and building reuse conversions. Simply stated, these areas have changed from what was once the working waterfront to the walking and working waterfront.
Many of these communities involved in waterfront efforts require assistance in the predevelopment and project packaging phases of these efforts. These waterfront redevelopment projects are regarded as beneficial additions to citizens in these communities who built on the dramatically improved environmental quality of waterfront locations and an increased interest in urban living and heightened demand for urban recreational opportunities.
Long active in providing economic feasibility counseling and development packaging for more typical waterfront projects (such as commercial ports, shopping, residential, lodging, group meeting and recreation and entertainment projects) and for transportation projects (economic impacts, joint development needs analysis, benefit/cost evaluation and project financing), Vantage Point Economic and Transportation Development Strategies, LLC senior professionals are increasingly asked to combine these skills to provide advice on interrelationships between transportation, real estate development and urban waterfront planning, including waterfront-related transportation alternatives.
Our feasibility efforts have included preparing and managing developer solicitations, negotiating developer agreements, and packaging these projects on behalf of a broad range of public, private and quasi-public entities.