Large corporations often have legacy assets verging on obsolescence and thus contributing little of economic value; these frequently include land and facilities held in a company’s portfolio. A common strategy is to restore value by converting such property to higher and better uses. However receiving permission to make changes in land use can be a complex and daunting task.
Securing a master plan amendment, property rezoning, or site plan and subdivision approval requires sensitivity to the local community’s aspirations and an attunement to grassroots social and political expectations. As companies consider greenfield development projects or repurposing existing sites, assurances of a reasonable, predictable and timely approvals outcome become fundamental to a project’s success.
BLS & Co. helps companies, investors and institutions navigate the complex and politically-charged process of redeveloping or repositioning property in a manner that adds value for the community and the landowner. Our services are built on two distinct directions:
- Exit Strategies: For companies and institutions hoping to shed soon-to-be surplus properties or legacy assets, we conceptualize and help implement the necessary land use approvals. When appropriate, we also recommend and create special incentives to attract developers and end users. Our approach is to conceptualize plans to identify a property’s the highest and best use, then to put in place a set of strategies that will prepare a property for redevelopment or marketing – creating value and liquidity.
- Market Entry Strategies: For companies executing location decisions, we analyze the location-differentiating variables among competing properties (including utility and infrastructure assessments performed by our Sugarloaf Associates™ affiliate) and guide clients through state and local approvals. In doing so, we coordinate our efforts with our clients’ real estate advisors. We also align the facility/site acquisition process to preserve the value of available economic development incentives.
Our land use services include:
- Real estate market analyses and highest & best use studies
- Development approvals strategies
- Economic and fiscal impact analyses
- Analyses of public financing programs
- Real estate transaction management