W-ZHA is at the forefront of evaluating and assisting clients regarding sophisticated real estate transactions and negotiations. The firm is not, in a traditional sense, a consulting firm, but rather a firm of consulting developers, professional economists, planners and financial advisors who assist clients in the programming, design, construction, and financing of many types of real estate projects. The principals of the firm have over 60 years of combined experience in real estate economics, development planning and programming, project packaging, financing and leasing arrangements, architectural and engineering supervision, land development, project management and other economic development activities.

W-ZHA's approach concentrates on identifying viable development opportunities and analyzing these opportunities as a private investor or developer does. Besides addressing the key questions which are of central concern to a developer, including market and financial feasibility and significant aspects of a business deal, W-ZHA has successfully lent its development experience to bridge the gap between public skills and private objectives. In the past, the firm has frequently been asked to define the appropriate organizational structures and financial resources needed to conduct publicly sponsored redevelopment activities. W-ZHA has also identified funding instruments for new organizations through various proven techniques and staffed the organizations on a contract basis.

AREAS OF PROFESSIONAL CAPABILITY

The specialized skills of W-ZHA's professional staff occur in seven functional areas of particular significance. Each is briefly discussed below. Market Analysis, Financial Feasibility and Other Financial Analyses. All of W-ZHA's work is grounded in rigorous market and economic analysis. W-ZHA performs market and feasibility analyses for private and public investors. W-ZHA's staff are experts in testing the market for a full range of land uses including: mixed-use projects, office, retail, hotel, industrial, technological/research and residential land uses as well as marinas, recreation facilities and audience support facilities. W-ZHA's staff excels in residual land analyses, impact analyses as well as scenario analyses. W-ZHA specializes in innovative financing techniques.

Predevelopment Strategic Planning and Master Planning--Predevelopment strategic planning and master planning provides a sound perspective and strategic framework within which development opportunities can be evaluated. The W-ZHA approach is that the visionary, creative aspect of planning must be balanced with financial, market, physical and regulatory reality for the plan to meet the test of time. As such, our work is necessarily carried out with a clear sensitivity to the realities of financial, regulatory, market and political limitations and a working knowledge of how public initiatives, private projects and management organizations function. W-ZHA's focus through this process is continually implementation oriented. W-ZHA provides extensive market, financial, fiscal impact, economic impact and other analyses to support strategic and predevelopment planning efforts.

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Urban Revitalization Strategies--The formulation of downtown revitalization strategies is an area in which W-ZHA continues to distinguish itself as a firm of innovative professionals. W-ZHA strategies seek to enrich the complex, interactive environment of downtowns. W-ZHA believes that downtown redevelopment activities should be driven by a defined strategy or vision of the area's role within the city and region. At the same time, these activities must also be driven by specific, identified market opportunities.

Joint Development Programming--W-ZHA has a long track record in programming public/private development in conjunction with public transit improvements, government centers, public assembly facilities and other public facilities. These projects require the special talent of maximizing the impact of public investment, coordinating a mix of uses, and meeting the objectives of numerous public and private interests. Joint development projects such as these are often critical anchors to larger redevelopment efforts; therefore, their success and market acceptance is critical. The final result of W-ZHA's efforts is a detailed development program, outlining the scale, timing, mix of uses, funding sources, and roles and responsibilities of project participants.

Developer Solicitation, Selection and Negotiation--W-ZHA has represented both public sector and private sector clients in the process of developer solicitation, selection and negotiation relating to real estate development ventures, particularly joint development projects. The process is structured to achieve project development under equitable, favorable terms to all parties.

Management of Development Implementation Efforts--W-ZHA often assumes the role as project manager ("owner representative") of large-scale development efforts. These are typically complex projects requiring coordination between numerous disciplines and participants to affect implementation of strategies, plans or specific development projects. In doing so, W-ZHA often serves as the project management organization for specific developments on behalf of its client from execution of development agreements through the design and construction process. W-ZHA also has experience and expertise in providing full-time staff for newly formed development corporations. Staff responsibilities have included directing and managing various organizations' day-to-day activities to affect development in their communities.

Litigation Support Services in Real Estate Development and Finance--Through our clear understanding of the development process, W-ZHA has assisted developers, law firms, financial institutions and public-sector clients in support of the litigation or arbitration of real estate-related issues. Frequently, W-ZHA provides litigation support services and/or expert testimony relating to any of a broad range of real estate-related issues that impact zoning, valuation, damages, bankruptcy, lender liability and contract breach. Principally these services are in the areas of zoning, valuation and economic damages. In providing these services, W-ZHA's staff is able to draw on its strengths in financial and market analysis.

Economic Development Analysis and Policy--W-ZHA is fully qualified in economic development theory and policy. Like other areas of specialization, W-ZHA undertakes economic development consultation services with an orientation toward implementation and specific problem solving. To do this, the firm uses an analysis process that is tailor-made to each community's situation. Services include complete economic, social and fiscal impact analyses; exploration of alternative funding sources; rigorous problem analysis to determine the underlying causes of unemployment, structural imbalance, disinvestment, or other specific needs; preparation of complete financial analyses, cost profiles and proformas for appropriate programs or projects; and preparation of detailed program strategies capable of being implemented by local organizations and officials.

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