Off to a Great Start in 2024: Beyond Place-Making, It's About Community Building

2024 has begun positively. In recent years, a compelling recurring focus in our client work has focused on community and neighborhood building. This encompasses various settings such as urban core, suburbs, rural, and exurban areas, involving new development, redevelopment, and adaptive reuse. Thus far, this emphasis persists in 2024.

At the core of our services lies the examination of market viability and feasibility for developments incorporating various uses, and the holistic integration of these uses in community building. Without getting too deep-in-the-weeds, our analytics tackle inquiries pertaining to land use, site design, planning, development, phasing, execution, and project management. When assessing the economic aspects of incorporating multiple uses in a town center, village, or town square (e.g., combining multifamily residences above ground-floor commercial spaces, upscale lifestyle branded hotels, breweries, boutique apparel stores, personal services, etc.) within a master plan, several questions arise: How many lots are designated for single-family homes? What is the pre-sale rate of lots before proceeding with the town center? How many multifamily units are situated in the town center, what is their composition, and what are the anticipated rental revenues?

Currently, our client work encompasses diverse projects, including a 165-acre site near Kahului Airport on Maui, a 600-acre development along the Florida Turnpike in Groveland within the northwest growth corridor of the Orlando MSA, multiple sites in Santa Ana, CA, approximately 4 acres of urban infill in the Westwood neighborhood west of Country Club Plaza in Kansas City, and a forthcoming project in Gunnison County, CO. We'll report back as these efforts progress.

In their extensive global survey on lifestyle changes titled "Building a Future-Ready City," ThoughtLab revealed several significant findings. Notably, respondents expressed intentions to shop and dine close to where they live, support smaller local businesses, and prioritize living in areas conducive to walking, biking, or scootering within their city. (ThoughtLab 2023)

We wholeheartedly agree. In fact, we perceive our work within this wider framework of community building.

Feel free to share your thoughts and current projects with us. You can connect with Jerry, Dan, or Jeff for further discussion.

Jerry L. Hoffman

Jerry L. Hoffman serves as the founder and managing partner of Hoffman Strategy Group LLC, a renowned company with a national reputation for conducting mixed-use market and feasibility analyses, economic impact assessments, formulating strategies for residential and commercial real estate development, and providing consultation services for real estate site locations.

www.hoffmanstrategygroup.com
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Celebrating Client Achievements in 2023: Success in Real Estate, It's a Long Game