Real Estate Advisory Services

Strategic Economics offers real estate advisory services to public and private sector clients.

Former Kern Power Plant Site Disposition Strategy

Client: Pacific Gas & Electric
Location: Bakersfield, CA

PG&E retained Strategic Economics to assist in testing this new integrated remediation/property disposition strategy using the former Kern Power Plant site in Bakersfield, California as the first test case. This is a 150 acre site that accommodated both the former power plant, which has been demolished, and a large electric substation with transmission lines that will be expanding within the next five to ten years. Strategic Economics prepared market analyses for four major land uses: retail, housing, office, and light manufacturing to determine which use(s) had the strongest market support, were most appropriate given the ongoing substation operations, would best satisfy local community objectives, and would be achievable given ongoing remediation issues.

Once the market work was completed, Strategic Economics, working in conjunction with PG&E staff, selected Urban Field Studio, a planning and urban design firm, to work with the team to establish up to three development concepts for the site. Strategic Economics and Urban Field Studio will now work together to identify the best development sites given the available land, document the various constraints for future development posed by ongoing uses on the property and work with the City of Bakersfield to identify other planning issues that will affect future development. Once these steps have been completed, Strategic Economics will advise PG&E on the best approach to property disposition.

SamTrans Opportunity Sites Analysis

Client: San Mateo County Transit District
Location: San Francisco Peninsula, CA

Strategic Economics was retained by SamTrans to identify and evaluate the property portfolio of SamTrans and the Peninsula Corridor Joint Powers Board (PCJPB) to identify potential future sites for transit-oriented development (TOD). The analysis focused on properties along the Caltrain right-of-way between San Francisco and San Jose.

Working closely with the client, Strategic Economics created a GIS-Based inventory of developable parcels and established a methodology for categorizing those sites in terms of their potential for future development, accounting for factors such as parcel size, depth, surrounding uses, access and market context. The analysis also incorporated information about whether sites are likely to be needed to support future transportation infrastructure projects, including the Caltrain Modernization Program and the Caltrain/High Speed Rail (HSR) Blended System.  Ultimately, the effort identified eight properties as having the greatest near term development potential.


Morgan Hill Site Disposition Analysis

Client: City of Morgan Hill
Location: Morgan Hill, CA

Strategic Economics provided the City of Morgan Hill with economic analysis to help determine potential disposition strategies for an opportunity site owned jointly by the City of Morgan Hill and the Santa Clara Valley Transportation Authority (VTA), located in Downtown Morgan Hill.

As a first step towards formulating a disposition strategy for the VTA site, Strategic Economics conducted a market analysis to determine the potential for higher density housing in Downtown Morgan Hill, including stacked condominium flats and apartments. Strategic Economics then built a pro forma model to analyze the financial feasibility of different development scenarios for the site.  The results of the analysis provided VTA and the City with an understanding of the potential development options, which will assist with the solicitation of developer proposals for the site in the future. In addition, the analysis also offered the City information regarding potential future property tax revenues that could be generated on the site under different development scenarios.

lucas@hanyok.coReal Estate Advisory Services