Redevelopment Consulting and Project Management in NJ
One of the critical issues facing the people of our region is how we can modify patterns of development and growth. State and local governments have recognized that our older communities have unmet potential and must be redeveloped to accommodate regional growth. These areas frequently have locational advantages, excellent transportation and infrastructure and access to employment centers. They also have complex development and legal constraints that must be considered and evaluated carefully. Redevelopment in New Jersey has had many successes and an equal number of projects that have fallen by the wayside because of legal and planning issues. There is a fairly steep learning curve in redevelopment projects and VRG principals have been involved in many of the most challenging redevelopment projects.
The range of services for redevelopment projects have included consultation on program goals to the valuation of properties to be acquired through an eminent domain action.
Recently, we have expanded our services to meet changing demands. The principals at VRG have been actively involved in redevelopment planning and implementation. We are at the cutting edge of New Jersey redevelopment practice. In Bloomfield, Arthur Linfante served as a Project Manager of a complex and multifaceted redevelopment plan. Linfante coordinated the project and served as the project liaison between the Governing Body, the public citizens, the planners, attorneys, property owners and other professionals. The adopted Bloomfield Plan recognized that use of publicly owned land and cooperation with existing property owners was essential. The use of eminent domain is minimal and will be used for essential public improvements. It is our hope that the Bloomfield model will serve as a model of community participation, consensus building and forward thinking planning.
VRG’s services in Redevelopment planning includes:
- Valuation of Existing Properties
- Expertise in Eminent Domain Procedures
- Marketability Analysis for Residential Uses
Alternative housing types analysis recommendations
Consider amenities, concessions, features to maximize profitability
- Market/Marketability Analysis for Retail Uses
Supportable size and types
- Feasibility Analysis for Alternative Development Scenarios
Consideration of Variables including Site Acquisition, Relocation and Related Expenses
- Developer Agreement Review for impact on Cash Flows, Business Terms, Timing
- Professional Firm Recommendations
Redevelopment and Condemnation Law
Fiscal Impact Studies
Governmental Financing Options