Development Economics
Real
Estate & Market Research - Feasibility Analysis
This particular area of expertise
separates SPG from most other consulting groups in the
country. SPG’s founding area of expertise, and still a major
portion of its work product, is economic analysis for both the
public and private sectors. Development Economics and market feasibility
are the driving forces for all our studies. We are national
leaders in Development Economics and serve as site location
experts to the industry. SPG
has prepared
market feasibility
studies for over 45 million square feet of retail space, 75
million square feet of commercial/industrial, and over $2
billion square feet of retail space and 445 million square
feet of office/commercial space.
Over the last fifteen years alone, our staff
has completed feasibility studies for over 100 million
square feet of commercial/retail/industrial space, 75,000
residential units, 45,000 hotel rooms, and five billion
dollars worth of resorts internationally.
Representative examples of our experience in
this area include:
Jordan Marsh, Palm Beach Mall, Existing and Projected
Market Analysis, West Palm Beach, SPG was retained
by Allied Stores, Inc. (Jordan Marsh/Maas Brothers) to
conduct a detailed analysis of the store’s growth potential
in a growing market with new competition. The store is one
of five anchors in the 1.5 million square foot mall,
complemented by Burdines, Lord & Taylor, Sears, JCPenney
and some 100-specialty shops. The Edward DeBartolo
Corporation developed and owns a 50 percent interest in the
Palm Beach Mall. The Mall, constructed in 1967 was
undergoing its first renovation in 1987, including the
addition of a food court and additional specialty
retailers. The project included a detailed analysis at the
zip code level of mall/store sales, saturation of the
primary market and dilution factors resulting from new
competition in the marketplace. Based on the changing
market environment and major mall renovation, the impact of
options including store renovation; store expansion and
renovation; addition of new anchors and building a new store
on site, were analyzed.
Clear Lake Mall, Site Selection and Market Potential,
Jordan Marsh, Jacksonville, SPG was retained by
Jordan Marsh/Maas Brothers, a subsidiary of Allied Stores,
to determine the feasibility of a proposed mall site in the
south side of Jacksonville, Florida. Clear Lake Mall, a
joint venture between Fletcher Land Corporation, Gates Land,
JMB/Federated Realty and Equity Properties and Development
Company, is a proposed 1.25 million square foot two-level
super regional mall. The mall will be part of a larger
Planned Unit Development called Deerwood Park, which upon
completion is expected to include 4.5 million square feet of
office space, 750,000 square feet of warehouse/distribution
space, 695,000 square feet of research and development
space, 1,450 residential dwelling units, 450,000 of
general/specialty/support commercial space, a 250-room
hotel, 20,000 square feet of restaurant space, as well as
the 1.25 million square foot super regional mall. Estimated
sales were projected for a proposed Jordan Marsh at that
location.
The Mall of the Avenues, Site Selection and Market
Potential, Jordan Marsh, Jacksonville, SPG was
retained by Allied Stores to determine the feasibility of a
proposed mall site in Jacksonville, Florida. The Mall of
the Avenues is a proposed 1.2 million square foot super
regional mall to be part of a larger 200-acre mixed unit
development to be called The Avenues. Plans for the
development include a 1.4 million square foot office park,
the 1.2 million square foot regional mall, 212,600 square
feet of retail/commercial space, 70,000 square feet of
restaurant space, and a250-room hotel. The proposed
two-level mall of The Avenues is expected to contain 130-146
specialty shops and restaurants. Original plans include six
major anchors. An analysis of the overall MSA’s retail
sales potential was calculated and a Jordan Marsh projected
sales figure derived.
Jacksonville Galleria Mall, Site Selection and Market
Feasibility, Jordan Marsh, Jacksonville, SPG was
retained by Allied Stores to conduct a market feasibility
analysis for the possible location of a Jordan Marsh in a
new proposed 1.275 million square foot super regional mall,
which is proposed to be part of the 155-acre Cypress Plaza
Development. Development plans call for 800,000 square feet
of office space and a 250-room hotel in addition to the
1.275 million square foot regional mall. The two-level
regional mall is projected to include five major anchors and
over 200 specialty retail/restaurant establishments.
Market Square & Village Market, Consumer Market
Research Report, Jacksonville, SPG was retained to
conduct a consumer market research study for the newly
renovated 600,000 square foot Market Square Regional Mall in
Jacksonville, Florida. The complex is one of the largest
value-oriented festival malls in the country, comprising 150
retail, food, full service restaurants and arts and craft
tenants. In addition to providing an overall market
assessment, the study delineated the mall’s primary and
secondary markets and established critical marketing periods
as well as developing a marketing and advertising program
for the complex.
Boynton Beach Mall, Market Potential and Growth,
Jordan Marsh, Boynton Beach, SPG was retained by
Allied Stores, Inc. (Jordan Marsh/Maas Brothers) to examine
the market potential for a newly opened store at the Boynton
Beach Mall. The 1.3 million square foot, DeBartolo
developed mall, anchored by Jordan Marsh, Burdines, Lord &
Taylor and JC Penney, had been open less than a year. The
analysis at the zip code level re-examined the site
selection and potential, dilution factors from maturing
competition to the south and north of the mall, and market
potential within the primary and secondary markets.
Aggregate sales were reviewed and projected through 1991.
Florida Mall, Site and Market Analysis, Jordan Marsh,
Orlando, SPG was retained by Allied Stores, Inc., to
review the site and market selection for a newly opened mall
in South Orange County, Florida. The Edward DeBartolo owned
and operated mall is anchored in part by Crown Plaza Hotel,
a business traveler oriented Holiday Inn franchise
operation. Other existing anchors include Belk-Lindsey,
Robinson’s, Mervyn’s, Sears and JC Penney. The 1.2 million
square foot, one-level mall, had been open 18 months, with
tourists from area attractions responsible for 30 percent of
mall sales. The analysis re-examined the site and market
potential for a possible Jordan Marsh anchor, projected
development and competition in the primary market, and the
impact or dilution to the chain’s two existing stores in the
market.
The Gardens Mall, Site and Market Analysis, Jordan
Marsh, West Palm Beach, SPG was retained by Allied
Stores, Inc., (Jordan Marsh/Maas Brothers) to examine the
market potential of a proposed mall, The Gardens, a 1.4
million square foot, two-level mall. The mall is being
developed by Forbes/Cohen Properties. A mixed-use
development, the project is planned to include a hotel,
office/commercial space, and multifamily residences. The
Gardens was scheduled to open in the fall of 1988. The
Gardens is projected to have 200 tenants including anchors
such as Saks Fifth Avenue, Bloomingdale’s, Macy’s, Burdines,
and Sears. The analysis at the zip code and census tract
levels encompassed northern Palm Beach, Martin, and St.
Lucie Counties. A retail sales model for the market was
developed to project growth in population and retail sales
through 1991. The project entailed a feasibility study of
the site and market and projected sales of a new store as an
aggregate and on sales per square foot basis.
The Galleria Orlando, Site Selection and Market
Potential, Jordan Marsh, Orlando, SPG was retained
by Allied Stores, Inc., to determine the feasibility of a
proposed mall site in West Orange County, Florida. The
Galleria Orlando is a mixed-use development, a joint venture
of The Prudential, Major Realty and Squitieri Associates of
Gainesville, developers of The Oaks Mall in Gainesville.
The proposed project included a 1.5 million square foot
upper-end mall with a European atmosphere; two million
square feet of office space; and three hotels with more than
1,000 rooms, combined with a sports/recreation complex. The
site and market feasibility were reviewed, in part, based on
projected residential and tourism growth in the area. The
site was also compared for growth potential to other
proposed sites in the Southwest quadrant of the County.
Estimated sales were projected for various store sizes and
market mix scenarios. Specific recommendations were made as
to under what conditions the site would be successful for a
Jordan Marsh anchor.
Town Center at Boca Raton, Market Potential and
Growth, Jordan Marsh, Boca Raton, SPG was retained
by Allied Stores, Inc., to examine the market potential for
its existing store at the Boca Raton Mall. The 1.4 million
square foot mall was a joint development of JMB/Federated
Realty Associates, Ltd. and Arvida/Disney. The recently
expanded and renovated mall is located in South Palm Beach
County. Major anchors included Jordan Marsh,
Bloomingdale’s, Saks Fifth Avenue, Lord and Taylor, Burdines
and Sears. An analysis at the zip code level included Palm
Beach and Northern Broward County, which accounts for some
50 percent of sales at the mall. The project examined sales
since the mall opened compared to growth of households and
income in the primary market, analyzing the remaining sales
growth potential in a maturing market.
Colonial Plaza Mall, Market Retention and Dilution,
Jordan Marsh, Orlando, SPG was retained by Allied
Stores, Inc., to conduct a market analysis for Jordan
Marsh’s existing store at Colonial Plaza, the oldest
regional mall in Orlando, constructed in 1956. The Mall is
anchored by Jordan Marsh, Belk Lindsey, and Ivey’s. The
967,000 square foot mall, developed and owned by J. J.
Gumberg Company, underwent extensive renovation in 1984;
however, aggregate sales had remained static or declined as
the result of new and maturing competition in the market.
Historic and current sales were examined, and the impact of
new mall competition and inter-chain competition were
examined and projected under projected market conditions.
Recommendations as to changes in the primary market, sales
retention, and market penetration were prepared.
Altamonte Mall, Market Retention and Dilution, Jordan Marsh, Altamonte Springs, SPG was
retained by Allied Stores, Inc., to conduct market analysis
and projections for Jordan Marsh’s existing store at the
Altamonte Mall, located in Seminole County, north of
Orlando, Florida. The 1.2 million square foot, two-level
super regional opened in 1974 and had scheduled a major
renovation beginning in late 1987. Anchored by Jordan
Marsh, Burdines, Robinson’s and Sears, the mall features
some 165-specialty retailers. The Mall is situated in a
maturing retail market, with approximately one million
square feet of new retail space slated for development in
the area. Further, the probability of a new Jordan Marsh at
a southern County site might also impact the store’s sales.
An analysis of Seminole and Orange Counties was performed at
the zip code level to track current and historical sales in
the market. The dilution resulting from new competition,
balanced by projected growth in the area was analyzed, with
specific sales projections and recommendations being made.
Investment Analysis, Jacksonville Hilton Hotel,
Jacksonville, SPG was retained by Robex
International to review for possible institutional
acquisition the 298-room Hilton Hotel located in downtown
Jacksonville, Florida. Study included the detailed analysis
of hotel operations and proposed renovation needs to bring
this first class hotel into full operational efficiency.
Financial Model, Detailed Socio-economic Impact Report
for Bimini Bay Resort, SPG was retained by
Robinson-Humphrey Properties (American Express) to assist in
the development of a detailed financial feasibility model
for their 604-unit world class hotel and 260-slip marina
resort to be developed in the Bahamas. Feasibility work
included the analysis of the resort’s 10,000 square foot
casino facility, including analysis of game layout, win
ratio and tax generation. In addition to developing a
detailed financial feasibility model, SPG produced a
detailed socio-economic impact report outlining the impact
this development would have on the infrastructure and tax
revenue base of the Bahamas.
Naples Centre, a 1.5 Million SF, Mixed-use
Development, Naples, SPG was retained to act as
client representative in the overall planning of the
148-acre site. As planned the development includes a mix of
retail and office uses including a new 1.1 million square
foot regional shopping center. SPG provided detailed
economic and planning services including permitting.
Lakewood Shopping Center, Jacksonville,
WAFRA Investment Advisory Group, Inc. retained SPG to
evaluate the redevelopment potential of an established
neighborhood shopping center in response to changing
competition and market demographics. SPG staff analyzed the
strategic location of the property versus competitive
locations, changing traffic patterns, demographic factors,
and leasing plans. An initial redevelopment strategy was
created by SPG outlining new images and leasing plans for
the two major sections of the property and a marketing
strategy for disposition of the out parcels. A program of
further market research was also suggested.
Market Study for Neighborhood Shopping Center,
Kissimmee, SPG was retained by Sunstate’s
Properties, Inc. to conduct feasibility studies on two sites
located in Buenaventura Lakes (BVL), Kissimmee, Florida.
The studies analyzed traffic and roadway construction,
delineated overall market area for both sites, analyzed
population household and income trends for the market area,
inventory competitive centers, and projected retail demand.
Because of SPG’s study, BVL moved from originally preferred
site to the new site selected by SPG.
Sonesta Village Resort Puerto De La Duquesa Costa del
Sol, SPG Staff conducted a feasibility study for
the Sonesta International Hotel Management Group and the
Overseas Group, Inc. for the Sonesta Beach Hotel, a
four-star hotel containing 276 apartments. An investment
marketing package was developed for presentation to
prospective financial backers which included a detailed cash
flow, rental projections and various investor options.
Highest and Best Use For The Prudential, Jacksonville,
SPG was retained by The Prudential to do detailed highest
and best use studies for numerous land holdings they have in
the downtown area of Jacksonville. SPG did a competitive
appraisal of surrounding properties and analyzed each
potential property with respect to its development potential
in the areas of commercial/office, retail, hotel, housing,
and mixed use development. Based upon the conclusions of
SPG’s findings, KBJ Architects submitted site plans to the
client.
Commercial Market Analysis for the City of Maitland,
SPG was retained by the City of Maitland to prepare a
commercial market analysis and establish commercial
sub-areas including a downtown court area for the City. The
purpose of the Study was to serve as a foundation for an
economic element for the City’s Comprehensive Development
Plan. The study included a detailed inventory of all
existing commercial uses, an evaluation analysis of existing
market support for the commercial development, and projected
market support for the years 1993-2010.
Retail Feasibility Study for Downtown Jacksonville,
SPG was retained by the Jacksonville Downtown
Development Authority (DDA) to perform a Downtown Retail
Feasibility Study for Jacksonville’s core business
district. The Study was supported by a significant survey
effort, which documented resident retail buying habits, and
more specifically, data on downtown retail demand. A
detailed downtown retail survey was sent to 17,500
employees, of which over 45 percent were returned. The
study documented that downtown Jacksonville is a viable
retail market and can support over $1 million square feet of
retail space by 1995.
Retail Market Analysis for the Omni Regional Shopping
Center, Ft. Myers, SPG was commissioned by
Landon Management, Inc. to assist in the consideration of
developing a new regional shopping center within the greater
Ft. Myers area. The report reviewed the existing market,
retail shopping goods within the Ft. Myers area, examined
the overall population growth to the area, indicated
expected new retail mall developments affecting the subject
site, defined and reviewed the primary and secondary market
areas for the Omni Regional Shopping Center and projected
the retail potential for a major shopping center at this
location.
Development Potential for the Alafaya Trail Corridor,
Orange and Seminole Counties, SPG was commissioned
by the Orange County Public Works Department to look at the
overall growth potential of the Alafaya Trail Corridor to
use in justifying capital improvements in the area. SPG
conducted extensive field interviews with local
developments, projected absorption of major DRI’s, and
defined all socioeconomic input necessary to run a
transportation impact model for one of the faster growing
regions in the greater Orlando MSA.
Forest Hill Resort Market Study and Financial
Feasibility Analysis for the Forest Hill Resort, Polk Co.,
a market study and financial feasibility analysis
was conducted, including preparation of cash flows, an
investment marketing package, and development of a sales
package, for a 141-villa resort development located in Polk
Co., Florida, southwest of Walt Disney World.
Real Estate Feasibility Study for Turkey Creek, Inc.
- SPG Staff was retained to prepare a detailed feasibility
analysis for a proposed 5,400-unit planned unit development
in central Florida, including a new 72,000 square foot
shopping center. At build-out, this 980-acre golf and
racquet resort will result in the in-migration of over
12,000 new residents to the region. In addition, SPG Staff
performed a fiscal impact analysis to determine if the tax
revenues generated by this development will be sufficient to
cover the capital improvement investments required by the
affected governmental jurisdictions.
Bahamas Hotel and Marina Feasibility Analysis,
SPG prepared a detailed financial feasibility analysis for a
224-room resort hotel and 250-slip Marina to be part of a
1,400-unit resort being developed in the Bahamas. This
Analysis included a determination of the financial
feasibility of the project and the preparation of marketing
materials for the sale of the hotel. The marina feasibility
study consisted of a determination of marina costs and
revenues including operational expenses, as well as
determination of investment opportunities which included
dockominium options.
Holiday Springs at Suntree Residential Market
Analysis, SPG prepared a market analysis and
development strategy for a 315-acre property owned by
General Development Corporation near Melbourne, Florida.
SPG’s services included a market area profile and
recommendations on product type and mix, project amenities,
unit design, and buyer segmentation.
Update of Orange and Seminole Counties Single-Family
Mortgage Bond Issue Target Area - SPG was retained
by the Orange County Housing Finance Authority to update its
1986 single-family mortgage study with respect to six target
areas in Orange County and three in Seminole County. SPG
calculated the value of home purchased loan origins in each
of the target areas, and calculated the total mortgage loan
origination for savings and loans, mutual banks, and
commercial banks for 1986, 1987, and 1988.
Housing and Mortgage Market Analysis, Duval County,
SPG was retained by the Duval County Housing Finance
Authority to perform a Housing and Mortgage Market Analysis
for Duval County for a proposed tax exempt bond issue. Bond
proceeds were used to finance below-market interest rate
mortgages in the County, predominantly for first-time
homebuyers. The study projects the likely market demand for
such mortgages with the County, given the requirements of
the bond program. This job was in continuation of SPG’s
1988 study for two similar bond issues totaling $95 million.
Julington Creek Market Study for General Development
Corporation, SPG was retained by General Development
Corporation to provide a comparative survey of residential
developments in southeastern Duval County and northern St.
Johns County. Current information was provided on 34
projects in the market area. By updating existing market
data and surveying several new developments, SPG provided
the client with the requested information on unit types,
values, features, project amenities, buyer profiles,
existing and planned units, absorption rates by project, and
other relevant market data. Proposed competitive
developments were also identified.
Multifamily Rental Housing Study, Bradford County,
SPG was retained by the Florida Housing Finance Agency to
perform a retail market research study of Bradford County.
A detailed breakout of the County’s sub-market areas was
accomplished and current and projected absorption rates for
multifamily units were estimated. An extensive inventory of
the existing private/public unit rental supply was conducted
utilizing extensive field research.
Multifamily Rental Housing Study, Alachua County,
SPG was retained by the Florida Housing Finance Agency to
perform a retail market research study of Alachua County. A
detailed breakout of the County’s sub-market areas was
accomplished, and current and projected absorption rates for
multifamily units were estimated. An extensive inventory of
the existing private/public unit rental supply was conducted
utilizing extensive field research.
Single-Family Market Feasibility, Jacksonville,
SPG prepared a market feasibility analysis for a 33-acre,
115 single-family lot subdivision. SPG staff performed a
competitive analysis of other similar products in the
marketplace and estimated the most likely absorption rate
for the single-family lots and their price range.
Multifamily Rental Housing Study, Marion County,
SPG was retained by the Florida Housing Finance Agency to
perform a retail market research study of Marion County. A
detailed breakout of the County’s sub-market areas was
accomplished, and current and projected absorption rates for
multifamily units were estimated. An extensive inventory of
the existing private/public unit rental supply was conducted
utilizing extensive field research.
Cypress Lakes Planned Unit Development (PUD), St. Johns
County, SPG was retained by Hall Properties to prepare a
market analysis for a 650-acre, golf-oriented, planned-unit
development (PUD). With the analysis, SPG determined the
housing and market potential available for the subject site
and identified potential market areas, including
anticipated, higher-profile areas. Lot prices and phasing
schedules were recommended, including the number of lots
that would be included in each phase. Also recommended were
the phasing of commercial development and types of
businesses that would be included, and in-depth data related
to population, employment and housing trends was developed.
Multifamily Rental Housing Study for Collier County,
SPG was retained by the Florida Housing Finance Agency
to perform a rental market research study of Collier
County. A detailed breakdown of the County’s sub-market
areas was accomplished, and current and projected absorption
rates were estimated. Finally, a determination of existing
private and public rental unit supply based on the most
current information available and an analysis of the
condominium market as it affects the rental apartment supply
was conducted.
Multifamily Rental Housing Study for Lee County,
SPG was retained by the Florida Housing Finance Agency
to perform a rental market research study of Lee County. A
detailed breakdown of the County’s sub-market areas was
accomplished, and current and projected absorption rates
were estimated. Finally, a determination of existing
private and public rental unit supply based on the most
current information available and an analysis of the
condominium market as it affects the rental apartment supply
was conducted.
Tourist Development Strategy and Hotel Feasibility
Study for the Northern Territory, SPG Staff
conducted feasibility studies and developed recommendations
for an overall tourist development strategy for the Northern
Territory of Australia. The primary task of the analysis
was to identify ways in which the client could capitalize on
the tourism development potential of the Southeast Asia
market and the required infrastructure improvements
necessary to support tourism development. Detailed
feasibility studies were conducted for two proposed resorts,
one to be located in Darwin, the capital, and the other in
Alice Springs. The two resorts will contain over 2,800
hotel and villa rooms, a 500-slip marina, 290,000 square
feet of up-scale, retail convention facilities, and casino
operations.
Kings Bay Naval Base Housing Survey, U.S. Dept. of
Navy, SPG staff conducted a survey to ascertain
demographic and housing demand characteristics of the
military population associated with the Kings Bay Naval
Base. The methodology included sampling military personnel
associated with the base. The questionnaire was designed to
assess locational patterns of the military population
throughout the Kings Bay region. A computer program was
constructed which cross-tabulated the responses of military
subgroups to analyze statistical relationships.
Lake Lochloosa New Community, Owens-Illinois
Development Corporation - SPG Staff assisted OIDC to
develop a planned new community of 21,574 acres in central
Florida. The development will consist of residential areas
and the support facilities (i.e., services) needed to
sustain an anticipated population of over 160,000 people at
build-out. Industrial land uses to support this population
were also identified. A major part of the analysis was an
economic impact study to identify industries needed to
support this induced population and the cost of the
necessary infrastructure improvements. SPG Staff
recommended the establishment of community development
districts (Capt. 190 F.S.) to help support needed
infrastructure (roads, water/sewer, and drainage).
Development Potential Assessment, DeBartolo and J.C.P.
Realty, Inc. - Comprehensive economic, demographic,
site and market analyses were undertaken in this study to
determine the best development strategy for a 572-acre tract
in Stuart, Florida. Competitive developments and market
growth potentials were explored to delineate recommendations
regarding residential, commercial, industrial, and
recreational use of the property.
International Trade Center Curaçao, Netherlands,
Antilles, SPG was retained by the
International Trade Center Curaçao to develop a Land Use
Plan, Master Plan, Economic and Socio-Economic Impact
Analyses, Market and Financial Feasibility Studies and
provide architectural design for the expansion of the
International Trade Center and its impact to the surrounding
areas. The Center is composed of four principle parts; the
Conference Hall Auditorium, the two-story Trade Mart, the
Exhibition Hall, and the four-story Business Center with a
110-seat restaurant and bar, a commercial bank, a copy
center, a government post office and several retail shops.
Fiscal Plan and Economic Impact Analysis, the 1996
Olympic Games in Atlanta, Georgia - SPG Staff
served as the co-author of the Fiscal Plan and Economic
Impact Analysis for the 1996 Summer Olympic Games to be held
in Atlanta. The study, conducted in conjunction with the
University of Georgia, identified the types of expenditures
(capital, visitor, etc.) for each year between 1992 and the
year of the Games in 1996. SPG has subsequently
designed a research program for the Atlanta Committee for
the Olympic Games (ACOG) to measure, monitor, and manage the
economic impacts over this period.
Georgia
Development Planning and Economic Impact Analysis, The
Georgia International Horse Park, Conyers, Georgia.-
SPG assisted the City of Conyers and Rockdale County
in developing the concept for a master planned 1,100-acre
recreational park, which includes a national equestrian
facility, public golf course, a RV/campground, and other
public recreational facilities. SPG assisted in the
preparation of the proposal to the Atlanta Committee for the
Olympic Games (ACOG) to host the 1996 Equestrian Events at
the Horse Park. SPG also prepared a preliminary
fiscal plan and economic impact analysis for the operations
of The Georgia International Horse Park.
Bahamas
Bimini Bay Hotel and Marina Feasibility Analysis,
Bahamas, SPG prepared a detailed financial
feasibility analysis for a 224-room resort hotel and
250-slip Marina to be part of a 1,400-unit resort being
developed in the Bahamas. This analysis included a
determination of the financial feasibility of the project
and the preparation of marketing materials for the sale of
the hotel. The marina feasibility study consisted of a
determination of marina costs and revenues including
operational expenses, as well as determination of investment
opportunities which included dockominium options.
Florida
Charlie Daniels Western World and Theme Park (CDWW),
Central Florida, SPG was retained to develop market
studies, master planning and financial forecasting/package
for a major country western tourism destination/resort.
This 2,000-acre end destination resort/theme park is
projected to have an annual attendance of over three million
by year three (late 1990s). The theme park includes a
frontier town, working corrals, chuck wagon dining and
complete supporting facilities including theaters, shops,
hotels/motels and a 7,000 seat arena.
Bahamas
Financial Model, Detailed Socioeconomic Impact Report
for Bimini Bay Resort, Bahamas. SPG was
retained by Robinson-Humphrey Properties (American Express)
to assist in the development of a detailed financial
feasibility model for their 604-unit world class hotel and
260-slip marina resort to be developed in the Bahamas.
Feasibility work included the analysis of the resort's
10,000 square foot casino facility, including analysis of
game layout, win ratio and tax generation. In addition to
developing a detailed financial feasibility model, SPG
produced a detailed socioeconomic impact report outlining
the impact this development would have on the infrastructure
and tax revenue base of the Bahamas.
Australia
Tourism Development Strategy and Hotel Feasibility
Study for the Northern Territory, Australia - SPG
Staff conducted feasibility studies and developed
recommendations for an overall tourist development strategy
for the Northern Territory of Australia. The primary task
of the analysis was to identify ways in which the client
could capitalize on the tourism development potential of the
Southeast Asia market and the required infrastructure
improvements necessary to support tourism development.
Detailed feasibility studies were conducted for two proposed
resorts, one to be located in Darwin, the capital, and the
other in Alice Springs. The two resorts will contain over
2,800 hotel and villa rooms, a 500-slip marina, 290,000
square feet of up-scale retail, convention facilities, and
casino operations.
Spain
Market Feasibility Study, Sonesta Village Resort,
Puerto De La Duquesta Costa Del Sol, Spain. SPG
staff conducted a feasibility study for the Sonesta
International Hotel Management Group and the Overseas Group,
Inc. for the Sonesta Beach Hotel, a four-star hotel
containing 276 apartments. An investment marketing package
was developed for presentation to prospective financial
backers which included detailed cash regulations, Impact Fee
Preparation, Historic Preservation, Capital Improvement
Planning and Economic Development Planning.
Florida
Dunn's Terminal Property, Jacksonville, Florida,
The development potential of a 317-acre, deep-water
port property was analyzed in this study. Site
characteristics, competitive facilities, and potential site
users were identified and evaluated to define a marketing
and development strategy for one of the few, privately
owned, marine terminal facilities in Jacksonville, Florida.
SPG’s identification of potential site users facilitated the
initiation of negotiations with a major industrial firm for
use of the site.
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