Services

Real Estate and Economic Development Planning
Economic development is the process by which a neighborhood, community, city or region improves the economic, political, and social well-being of its residents. Synergy focuses on regional or local economic development that results in job creation, increased tax base, and overall improved quality of life for citizens in the subject area.

Synergy programs real estate and economic development by:

• Highest and best use analysis
• Comprehensive market demand study
• Implementation plan
• Financial feasibility analysis
• Conceptual site plan
• Preliminary construction cost estimate
• Recommendations to improve the project’s attractiveness
• Joint development opportunities
• Due diligence
• Comprehensive marketing plan
• Capital project programming
• Re-use alternatives
• Market research and analysis
• Land development strategy
• Comprehensive master plan
• Design standards and guidelines
• Maintenance plan
• Marketing strategy
• Feasibility analysis
• Income projections

Placemaking
Placemaking is a comprehensive approach to the planning, design, and management of public spaces. This approach capitalizes on a local community’s physical assets, cultural and social identities, and future potential in order to create public spaces that promote health, happiness, and well-being.

Community participation is integral to successful placemaking. Synergy partners with community residents, business owners, property owners, and public officials to develop placemaking opportunities that optimize all stakeholders’ goals. Synergy develops successful placemaking strategies by:

• Focus groups and community assessments
• Marketing implementation strategy
• Redevelopment goals
• Community’s strategic plan
• Real estate planning
• Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis
• Marketing and public relations materials
• Marketability study

Transit-oriented Development
Transit-oriented development, or TOD, is a unique type of community development creating walkable, liveable, and sustainable communities. TOD includes a mix of residential, office, and retail developments integrated into a vibrant neighborhood located within walking distance of public transportation.

Communities across the nation have embraced TOD as one of the best ways to create desirable, urban places to live, work, and play. These dense, walkable communities greatly reduce the need for driving and energy consumption.

Synergy has worked on many TOD projects across the nation, optimizing development for both transit authorities and the local community by:

• Comprehensive demographic and economic analysis
• Extensive and prioritized list of project opportunities
• Create community task force
• Site and feasibility analysis, program development
• Capital budgeting analysis
• Recommendations for public and private financing
• Analysis of existing facilities
• Assessment of existing and future needs
• Facilities master plan

P3: Public-Private Partnerships
Public-private partnerships, or P3s, are partnerships between government agencies and private-sector companies used to finance, build, and operate local economic development projects. Developing a P3 relationship for project financing often allows a project to be completed sooner or makes the project feasible in the first place. For a P3 project to be successful, the agreement must be beneficial to all entities involved. For public entities, the results of the project need to be achieved while the financial risk is minimized; the public benefit must justify the public cost. For private entities, the project must offer an appropriate return for the levels of capital and risk involved.
Synergy identifies joint development opportunities that minimize public investment and maximize private development opportunities. Synergy creates partnerships between local governments, private developers, and lending institutions plus state and federal agencies to stimulate economic development activity and then guides these partnerships by:

• Highest and best use analysis
• Market demand study
• Implementation plan
• Financial feasibility analysis
• Conceptual site plan
• Preliminary construction cost estimate
• Due diligence
• Comprehensive marketing plan
• Marketing implementation strategy
• Redevelopment goals
• Comprehensive demographic analysis
• Economic analysis
• Opportunities for specific sites in critical locations
• Series of financing tools

Facility Optimization
Facility optimization can be achieved through capital budgeting analysis. Through capital budgeting an entity evaluates and determines potential expenses or investments such as new machinery, replacement of machinery, new plants, new products, and research development projects. A prospective project’s lifetime cashflows are assessed to determine whether the potential returns generated meet a sufficient target benchmark. Once analysis is complete, an entity pursues projects and opportunities that will yield the highest return for shareholders.

Synergy optimizes facilities and determines the most efficient use of real estate and capital by:

• Public financing packages
• Capital budgeting analysis
• Physical and financial elements
• Developing RFP criteria
• Considering the land’s financial value as well as its social value to the community
• Property and appraisal analysis
• Market analysis
• Marketing audience and marketing materials

Airport Property Monetization
Airports often have extensive land holdings for both aviation and non-aviation uses. A portion or portions of these real estate assets may be under utilized or simply sitting vacant. Synergy studies the highest and best use for all airport land holdings in order to turn idle parcels of land into income-generating development projects.

Synergy develops airport property monetization plans by:

• Highest and best use analysis
• Market demand study
• Implementation plan for development
• Financial feasibility analysis

• Conceptual site plan
• Preliminary construction cost estimate
• Recommendations to improve the project’s attractiveness