Project Description: Redevelopment of Manufacturing Facility
Service Provided: Market & Feasibility Study, Land Planning
Client Since: 2013
A Top-20 real estate development company that owns and manages in excess of 25-Million sq ft. of commercial property and has built more than 40,000 homes.
To create a redevelopment plan for a former 1.1-Million sq ft. manufacturing and research facility on 200+ acres that is economically viable, beneficial to the local community, and adheres to Smart-Growth principles.
The Otteau Group provided advanced market analytics and viability testing to identify types and quantities of uses that could profitably be supported by local economics, demographics and market demand. Testimony was also provided at entitlement proceedings to facilitate a better understanding of the project for municipal officials and the public.
Development was approved for 525,000 sq ft. of retail, 195,000 sq ft of office, a 124-key hotel, and 1,875 housing units in a transit-village setting. The initial phases of the project with retail, hotel and housing have been completed successfully, with additional phases under construction and plans for a future commuter rail station.