Design Statement:
This property is very under-utilized under current zoning. The owners desired to understand their options. The studies include looking at all options allowed by zoning. The uses range from upgrading the existing warehouse use to new office and residential units to building a new office building. Based on the study it became apparent the value of the property was greatly enhanced (and visa verse) when combined with the adjacent property. As a result, the two owners have formed an agreement to jointly develop the project.

A key component of this project is a full financial analysis performed on multiple options. This analysis includes a financial pro forma that in addition to constructions costs includes all soft costs such as financing costs, loss of income and development fees.

The project is currently in schematic design to create a new mixed use building with retail, parking and office.