Property Counselors

PROPERTY C OUNSELORS

Main Staff Experience Contact

Mount Vernon Waterfront Area and Downtown Master Plan
Client: City of Mount Vernon
Property Counselors has prepared several economic studies for the City of Mount Vernon in support of the Mount Vernon Waterfront Area and Downtown Master Plan. The Master Plan provides physical concepts and strategies for land use, transportation, flood protection, and economic development. The plan and associated improvements will increase the attractiveness of Downtown as a place to live, shop, work, or visit. Property Counselors prepared a market analysis that considered the potential demand for development of additional retail, office, residential, and lodging over a 20-year period. Property Counselors also estimated economic benefits, evaluated development feasibility, and identified financing and economic development strategies.

Economic Evaluation for Bel Red Bonus Incentive System
Client: City of Bellevue
Property Counselors is preparing a feasibility assessment for the City of Bellevue in support of a plan to change zoning for the Bel Red area. The proposed zoning will provide increased allowable density in the area, in return for investment in public infrastructure and public amenities. The incentive bonus system is intended to encourage more dense development as well as development that incorporates desirable features. The City has hired Property Counselors to assist them in evaluating the bonus incentive system and setting bonus rates that provide a real incentive, but also maximize public benefits. The analysis considers ten development scenarios to determine their economic performance and the value created by additional density.

Market Analysis and Financial Projections - LeMay Auto Museum
Client: LeMay America's Car Museum
LeMay America's Car Museum is developing a major museum complex in Tacoma, Washington. The initial facilities will provide a stand-alone, state-of-the-art visitor attraction offering a variety of visitor experiences, including display of autos, interpretive exhibits, and interactive exhibits such as simulators. Property Counselors prepared financial projections and a market study to determine operating requirements as part of the overall financing requirements for the first phase. The study included analyses of area demographics, other local museums and attractions, and other automobile museums, as well as projections of the museum's utilization and operating revenues and expenses.

West Yellowstone Event Center
Client: Town of West Yellowstone, Montana
West Yellowstone is one of five entrances to Yellowstone National Park. The Town has recently seen a decrease in visitor activity in the winter months due to restrictions on snow-coach and snowmobile access to the Park, and could benefit from the addition of a demand-generating visitor attraction during the spring, fall, and winter seasons. Property Counselors conducted a feasibility study for a new event center in West Yellowstone that could accommodate a range of events, including conventions, trade shows, sports events, concerts, and festivals. The first phase of the study provided a market analysis to determine potential event demand and facility utilization. The second phase involved determining the feasibility of developing a facility that would meet the opportunities identified in the market analysis.

Olson's Resort Highest and Best Use Study
Client: Cascade Land Conservancy
Cascade Land Conservancy has contracted with Property Counselors, to conduct a highest and best use study to guide them in structuring the purchase and resale of Olson’s Resort in Sekiu. The Cascade Land Conservancy has acquired an option to purchase the resort, with the intention of reselling it to an operator/developer who will preserve the resort and hopefully expand its facilities and its economic contribution to the community. Property Counselors is preparing a study that identifies the demand for potential and existing uses of the property, identifies potential concepts for upgrading or expanding the resort, and identifies the levels of investment and potential returns that are possible under the different concepts.

Thurston Highlands Fiscal Analysis
Client: City of Yelm and Thurston Highlands, L.L.C.
Thurston Highlands, L.L.C. has applied to the City of Yelm for Conceptual Master Site Plan approval for Thurston Highlands, a 5,000 home mixed use development on 1,240 acres. Property Counselors prepared a fiscal impact analysis for the EIS (Environmental Impact Statement) process. The analysis addresses the financial impacts to local governmental entities of providing the public services and capital facilities necessary to serve the master planned development. The scope of the analysis includes an evaluation of the on-going operating impacts of the Thurston Highlands Master Planned Community as well as the impacts on required capital facilities. The analysis addresses initial and ongoing costs, available sources of funds to address these costs, and methods to fund any identified shortfalls.

	Mount Vernon Waterfront Area and Downtown Master Plan Client: City of Mount Vernon Property Counselors has prepared several economic studies for the City of Mount Vernon in support of the Mount Vernon Waterfront Area and Downtown Master Plan. The Master Plan provides physical concepts and strategies for land use, transportation, flood protection, and economic development. The plan and associated improvements will increase the attractiveness of Downtown as a place to live, shop, work, or visit. Property Counselors prepared a market analysis that considered the potential demand for development of additional retail, office, residential, and lodging over a 20-year period. Property Counselors also estimated economic benefits, evaluated development feasibility, and identified financing and economic development strategies.
	Economic Evaluation for Bel Red Bonus Incentive System Client: City of Bellevue Property Counselors is preparing a feasibility assessment for the City of Bellevue in support of a plan to change zoning for the Bel Red area. The proposed zoning will provide increased allowable density in the area, in return for investment in public infrastructure and public amenities. The incentive bonus system is intended to encourage more dense development as well as development that incorporates desirable features. The City has hired Property Counselors to assist them in evaluating the bonus incentive system and setting bonus rates that provide a real incentive, but also maximize public benefits. The analysis considers ten development scenarios to determine their economic performance and the value created by additional density.
	Market Analysis and Financial Projections - LeMay Auto Museum Client: LeMay America's Car Museum LeMay America's Car Museum is developing a major museum complex in Tacoma, Washington. The initial facilities will provide a stand-alone, state-of-the-art visitor attraction offering a variety of visitor experiences, including display of autos, interpretive exhibits, and interactive exhibits such as simulators. Property Counselors prepared financial projections and a market study to determine operating requirements as part of the overall financing requirements for the first phase. The study included analyses of area demographics, other local museums and attractions, and other automobile museums, as well as projections of the museum's utilization and operating revenues and expenses.
	West Yellowstone Event Center Client: Town of West Yellowstone, Montana West Yellowstone is one of five entrances to Yellowstone National Park. The Town has recently seen a decrease in visitor activity in the winter months due to restrictions on snow-coach and snowmobile access to the Park, and could benefit from the addition of a demand-generating visitor attraction during the spring, fall, and winter seasons. Property Counselors conducted a feasibility study for a new event center in West Yellowstone that could accommodate a range of events, including conventions, trade shows, sports events, concerts, and festivals. The first phase of the study provided a market analysis to determine potential event demand and facility utilization. The second phase involved determining the feasibility of developing a facility that would meet the opportunities identified in the market analysis.
	Olson's Resort Highest and Best Use Study Client: Cascade Land Conservancy Cascade Land Conservancy has contracted with Property Counselors, to conduct a highest and best use study to guide them in structuring the purchase and resale of Olson’s Resort in Sekiu. The Cascade Land Conservancy has acquired an option to purchase the resort, with the intention of reselling it to an operator/developer who will preserve the resort and hopefully expand its facilities and its economic contribution to the community. Property Counselors is preparing a study that identifies the demand for potential and existing uses of the property, identifies potential concepts for upgrading or expanding the resort, and identifies the levels of investment and potential returns that are possible under the different concepts.
	Thurston Highlands Fiscal Analysis Client: City of Yelm and Thurston Highlands, L.L.C. Thurston Highlands, L.L.C. has applied to the City of Yelm for Conceptual Master Site Plan approval for Thurston Highlands, a 5,000 home mixed use development on 1,240 acres. Property Counselors prepared a fiscal impact analysis for the EIS (Environmental Impact Statement) process. The analysis addresses the financial impacts to local governmental entities of providing the public services and capital facilities necessary to serve the master planned development. The scope of the analysis includes an evaluation of the on-going operating impacts of the Thurston Highlands Master Planned Community as well as the impacts on required capital facilities. The analysis addresses initial and ongoing costs, available sources of funds to address these costs, and methods to fund any identified shortfalls.