Redevelopment of Distressed, Impaired & Underutilized Properties

Projects

Part of TPS’s success in turning properties around has been a result of it not having an agenda for any given property at day one. Landowners that are willing to sell or partner to improve their troubled properties don’t want or need to get tied up in a battle over what can and cannot be done with their property. All too often prospective buyers come in with a high price and higher dreams only to spend years attempting to get approvals for something nobody wants. We have all seen examples where millions of dollars and years have been expended to force a big box retail complex where it is not wanted.

Having no vested interest in what a troubled site’s end use may be TPS can enter the situation with an open mind. Typically step one is doing the homework to determine what is practicable and whether the local community can be convinced that an identifed end-use makes sense. Not being a developer or builder of any type of redevelopment such as housing, retail or commercial TPS can maintain an unbiased position where the ideal outcome is what becomes the TPS agenda.

More and more frequently one can see redevelopment initiatives advanced by builders with a purpose. They might have convinced the local governing body to approve an office building or townhouse project only to find that it doesn’t market well. One or two years later that same builder is back asking to convert the office building to condos or change the townhouses to apartments.

Every TPS project completed has resulted in the intended reuse not only being a long term success but in many instances being the very ingredient that helped a struggling Main Street become or a under utilized retail center become a hit. Many Transactionable projects have resulted in the project communities becoming ranked as fastest growing neighborhoods.

Hiring TPS as your consultant is the best redevelopment investment a builder or community can make.