In the summer of 2003, Allegro completed a real estate development feasibility study related to the redevelopment of the waterfront of a major U.S. city for its economic development organizations.
This project involved the evaluation of alternative development concepts developed by a combination of the city planning department and three architectural and land use firms. The evaluation process included an extensive market analysis, an assessment of the viability of land use concepts and “reality-testing” with selected developers. We conducted focus group discussions with residential and commercial developers to explore alternative use concepts and understand barriers that may limit interest in the project and key motivators that may be enhanced to increase development participation. A broader perspective was gained through discussions with national and regional developers. Additionally, the project included an evaluation of the need for publicly-funded financial incentives to catalyze development and how local/municipal planning and permitting could be least inhibitive of the development cycle while ensuring adherence to a master plan.