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McMillan Reservoir Redevelopment |
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Vision McMillan Partners
Vision McMillan Partners (VMP) is a joint venture development team that is redeveloping the historic McMillan Reservoir in Washington, D.C. Green Door Advisors (GDA) was engaged by VMP to provide a fiscal and economic impact analysis, an opportunity cost analysis, and a residual land value analysis for the proposed redevelopment scenario.
GDA analyzed the future tax revenues generated by construction and on-site uses once the redevelopment is complete, in addition to the District expenditures that will be incurred. As a result, GDA estimated the net fiscal impact to the District over a 30-year period. We also estimated the additional economic benefit that the proposed redevelopment will generate for the district, looking specifically at additional sales and labor income created from the on-site economic activity.
GDA also conducted an opportunity cost analysis to determine the economic costs and benefits of including open space in the proposed site plan. This analysis provided a residual land value for each land use and the project as a whole under a variety of open space scenarios, and will assist VMP in determining how to maximize both community benefit and financial feasibility of the project. Finally, GDA participated in a series of community meetings to present our analysis and respond to community questions.
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Houston's Fourth Ward - Livable Centers Project |
Houston-Galveston Area Council
Green Door Advisors participated on a project team to create the Fourth Ward Livable Centers Plan for Houston’s Fourth Ward. The Livable Centers Plan is a partnership between the Houston-Galveston Area Council (HGAC), the Fourth Ward Redevelopment Authority, and the City of Houston, Texas.
The purpose of the plan and the Livable Centers program is to promote economic development; create quality, walkable mixed-use neighborhoods; increase multi-modal transportation choices; and protect and enhance environmental quality. The plan for the Fourth Ward sought to accommodate the redevelopment ideals of the City of Houston while protecting the Fourth Ward’s unique identity, historic and community character, and affordable housing. Green Door Advisors provided a case study analysis of similar neighborhoods that have successfully undergone revitalization and redevelopment while maintaining community and historic character and a supply of affordable housing.
GDA also completed several different components of the project’s implementation plan, including a financial analysis of the project team’s alternative development scenarios for a large redevelopment site located within the Fourth Ward. This financial analysis allowed to project team and HGAC to compare the potential and benefits of multiple alternative redevelopment scenarios. GDA also analyzed the tax revenues of a chosen alternative scenario to determine the amount of incremental tax revenue generated by the redevelopment program to support the use of tax increment financing.
Finally, GDA identified possible funding tools and programs that may be available to support large-scale redevelopment, affordable housing, community uses, infrastructure, and historic rehabilitation in the Fourth Ward. The full study can be accessed online at:
http://fourthwardlivablecenters.files.wordpress.com/2010/11/fourth_ward_livable_center_final.pdf
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DC Creative Economy Study |
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Mt. Auburn Associates, DC Office of Planning, Washington Economic Partnership 
Green Door Advisors collaborated with Mt Auburn Associates, the Washington Economic Partnership, and the DC Office of Planning to complete a groundbreaking study on the Creative Economy within Washington, D.C.
From the Washington Economic Partnership website: Today, there are more than 75,000 direct jobs in the District’s creative sector, which amount to more than 10% of the city’s employment base. The District’s creative base includes building arts, design, media, communications, performing/visual arts, museum management, and culinary arts. Most of DC’s creative jobs are in commercial enterprises focused on a subset of the creative economy which includes media, culinary arts, museum management and design.
The assessment also highlights that the creative economy provides an opportunity to activate vacant and underutilized sites with arts and creative uses to maintain stability in the city’s economy, extend employment opportunities to under- or unemployed residents, and enhance communities through arts and cultural uses."
GDA provided insight and analysis on the challenges facing artists and arts related uses within DC's real estate market. GDA identified the City's market position within the region, examined the obstacles faced by many artists given the City's zoning and regulatory structure, recommended neighborhoods and specific sites most suited to growing and supporting arts related uses and provided key recommendations for the support of arts related real estate uses within the District. The full study may be found at: http://wdcep.com/wp-content/uploads/2010/09/creativecapital.pdf
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St. Elizabeths East Campus |
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Deputy Mayor for Planning and Economic Development
Washington, DC 
GDA was retained by the Office of the Deputy Mayor for Planning and Economic Development to provide a retail and office market analysis for the redevelopment of the historic St. Elizabeths East Campus. The proposed consolidation and relocation of the Department of Homeland Security (DHS) will move over 14,000 jobs to St. Elizabeths West Campus and a portion of the East Campus.
GDA determined the market-supportable uses that will be feasible on the East Campus as a result of the relocation of DHS, the consolidation of the Department of Mental Health to the new St. Elizabeths Hospital, and existing neighborhood demand. The federally-mandated security requirements for Department of Homeland Security facilities create a unique challenge for neighboring market-driven uses. GDA’s market analysis provided strategic recommendations to mitigate these challenges while opening up the St. Elizabeths East Campus development to the surrounding neighborhoods to capitalize on local market-driven demand.
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Washington, DC 
GDA provided pre-development management services to Blue Skye Development for the financing and development of a 4427 Hayes Street NE, a public-private redevelopment project as part of the New Communities Initiative. The project includes 26 new two and three bedroom affordable rental units. GDA prepared the response to the District Request for Proposals, developed the financial proforma, and submitted required government and lender reports, documentation and submissions.
Once awarded the development project, GDA assisted Blue Skye Development in securing financing. In particular, GDA assisted in negotiations with the DC Housing Authority for a long-term operating subsidy for 9 replacement units for current public housing and worked in partnership with the City to identify and secure a private grant of $700,000 to meet a project funding gap and ensure long-term affordability for the project tenants. The apartment building construction was completed in late 2010 and is now fully occupied.
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Los Angeles, California
GDA was retained by West Angeles Community Development Corporation, a not-for-profit faith-based firm, to serve as development management consultants towards the development of urban infill 45,000 square foot office and retail center located in Lost Angeles along Crenshaw Boulevard. |
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 Washington, DC
Howard University’s Office of Real Estate engaged GDA to assess its various non-academic real estate assets to understand the opportunities those properties held for redevelopment with a focus on increasing the type and diversity of retail/commercial offerings for its students and neighbors. This encompassed a detailed inventory analysis, retail, commercial, and residential market analysis, and a redevelopment strategy.
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Watts, California 
GDA was engaged by Wattstar Theatre and Cinema and Education Center to provide ongoing financial analysis and implantation services to assist in the development of a neighborhood-scale 4 screen full service movie theatre with an economic development training program for youth interested in media industries. The site of the newly constructed Theatre is set to be located in Watts (South Los Angeles), CA and will be the first new movie theatre in the immediate area in more than 50 years. The 32,000 square foot, two-story structure on a 72,310 square foot site will house slightly more than 1,000 seats.
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Park Morton Master Redevelopment Plan |
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Deputy Mayor for Planning and Economic Development/Office of Planning
Washington DC
GDA provided a market analysis for retail, commercial and residential uses for the redevelopment of the Park Morton public housing project into a mixed-use, mixed income community. Following the market analysis GDA provided a financial strategy leveraging public financing tools with private sector demand to create an implementation strategy for the redevelopment of the site to meet policy directives.
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