Real Estate and Urban Policy Experts

The PFC team has extensive experience in the areas of fiscal and economic impact, real estate financial feasibility analysis, highest and best use analysis, tax increment financing, asset management, public/private partnerships/joint ventures, ground lease negotiations, and special research assignments. Our experts have provided services to a wide range of private sector entities and government agencies on assignments involving commercial, industrial, residential, and mixed-use properties. We have applied hedonic regression and statistical methods to mass appraisals, and determination of “over the fence” valuation, as well as real options valuation of real estate assets, rights, and securities. In addition, we have analyzed environmental and locational impacts including analyses of landfills, fire stations, electrical transmission lines and towers, toxic plumes, and superfund sites on real estate values. Our real estate and urban policy team can also assist with economic impact analysis, analysis of revenue and taxation issues, and analysis of zoning and other regulatory changes.

Fiscal and Economic Impact Analysis

We compute estimates of the fiscal revenues and public expenditures as well as the job creation and other public benefits associated with development projects and land use plans for projects of all scales ranging up to large multi-phase planned communities. Typical assignments involve:

  • Using project benefits as basis for discretionary land use entitlements
  • Assessing ability to support tax increment financing of infrastructure
  • Evaluating impact of alternative land use plans
  • Providing overriding consideration for unmitigated environmental impacts
  • Determining if project justifies modification of development impact fee policies
  • Determining if project benefits justify public assistance provided

Financial Analyses

We provide analysis of financial feasibility, highest and best use, reuse strategies, disposition strategies and litigation support. Clients include private developers and investors; federal, state and local government agencies; and educational institutions. Typical assignments involve:

  • New commercial, industrial and residential development projects
  • Private development of surplus government agency property
  • Disposition strategy for excess industrial facilities
  • Alternative development scenarios for military base reuse
  • Distressed and bankrupt project valuation and disposition strategy
  • Renovation or replacement of obsolete improvements on high-value site
  • Redevelopment following property assemblage

Public Private Partnership/Joint Venture

We can assist both private developer and public agency clients in analyzing and negotiating terms for redevelopment transactions and projects incorporating public assets. Typical assignments involve:

  • Determining if project is financially infeasible without public assistance
  • Identifying potential sources of public assistance
  • Determining appropriate land write down or other assistance mechanism
  • Negotiating land lease terms
  • Establishing performance criteria and benefits sharing

Evaluating allocation of risk between the public and private entities