East Baltimore Development, Inc.
HR&A serves as the Real Estate Development Advisor to East Baltimore Development, Inc., a nonprofit development corporation charged with implementing a major new mixed-use development. Upon completion, the New East Baltimore Community will contain 1.5 million square feet of Life Sciences space, and approximately 1,200 units of mixed-income housing. HR&A developed the suggested program mix, identified public and private financing sources, secured major institutional commitments, structured a public-private transaction, and managed a solicitation process for a master developer. HR&A will continue as development advisor through negotiation and execution of the final agreements with the selected developer.
Boulder Urban Renewal Authority
HR&A advised the Boulder Urban Renewal Authority (BURA) on how to facilitate the redevelopment of the privately-owned Crossroads Mall, the only regional mall in the city of Boulder, Colorado. The mall, now substantially vacant, is strategically important to the city because of its size, visibility, and central location, and because until recently, it was the largest retail sales tax generator in the city. BURA’s proposed redevelopment would restore viable retail uses to the site, as well as provide a number of public benefits, such as new market-rate and affordable housing at the site, linkages to the city’s open space network, and restoration of the street grid. To enable redevelopment to proceed, HR&A advised BURA to consider the use of its condemnation powers, if necessary, and to further analyze the possibility of providing tax-increment financing to make the public benefit components of the plan feasible.
Daniel Island Development Corporation
For the Guggenheim family interest, HR&A took Daniel Island, a 5,000-acre tract of land in Charleston, S.C., from its state as a rural hunting preserve through a comprehensive, award-winning planning process. This included securing all permits, plus management of the implementation of the first phase of development, including housing, office and recreational attractions. The property then sold according to our business plan. The planning process outlined the vision of an island town, created as part of historic Charleston, S.C. Eschewing a traditional gated community, the plan included several interconnected residential communities, a large light industrial park, a new port facility, major new parks, and a town center.
The New York Blood Center
For the New York Blood Center, HR&A prepared an analysis of the real estate implications of the center’s recently adopted strategic plan. As part of this effort for the nation’s largest independent blood bank, HR&A developed preliminary needs assessments for the Blood Center’s core businesses — blood collections, processing and distribution, and blood-related research. As part of ongoing work with the Blood Center, HR&A will advise the Blood Center on several real estate transactions, assist the Blood Center in developing a regional manufacturing and distribution strategy, recommend a corporate real estate strategy relating to blood collection and donor room standards, and assist the Blood Center in developing long-term real estate plans for its corporate and administrative headquarters facilities.