Raising cash for private development requires a master plan. Though many developers think of the marketplace with a napkin sketch method of planning, a master plan puts the deal into perspective with market place and site design.
In today's economic climate, not only do municipal plan commissions prefer to see a well thought out master plan to grant project approval, but banks demand it to comprehend the deal before financing any development.
The Landscape Architects, Inc. way of master planning is to promote eight strategic principles of
- Shared parking lots
- Shared storm water
- Shared open space
- Shared maintenance costs
- Smaller parking lots
- Rain gardens before ponds
- Thematic architecture and signage
- Green Wall Systems to host
As private development becomes a more precise science of extracting profitability the use of the Landscape Architects, Inc. planning principles become the tools to develop profit and sustainable development in the future.
Mixed-Use high density clusters located along a major highway such as Bay Shore Mall in Milwaukee and Millennium Park in the City of Green Bay are two examples of how the Landscape Architects, Inc. principles worked to separate themselves from conventional models of development.
The developer of Millennium Park adapted to factors of market demand to integrate the growing market segment of medical office and child day care, with a hotel, Globe University, Senior Housing and boutique retail, restaurants, and surrounding neighborhood housing. Market analysis and market demand studies are conducted to determine highest and best use in development master planning.
In 2006, Landscape Architects, Inc. led an investor team in the feasibility study to acquire this eight acre parcel and to prepare a master plan that quadruples the density allowed by the Village.
The approved site development plan below after 75% built out, proves out a measurable increase in tax base with increased appraised value. In fact, of seven shopping centers built within 3-years prior to the recession of 2008, Millennium Park is the only one that has experienced stabilized property value and increased market value.
Site development followed the eight principles of site design as state above. Landscape Architects, Inc. led the design of the shopping center and the hotel complex. The following graphic is a before and after update taken in 2010.
Thematic architecture shared by three private developers, management of a shared stormwater pond, parking lots, and maintenance costs are the notable features that led to higher profitability and higher sustainability.