Tierra West Advisors recently joined forces on a philanthropic collaboration with the ULI Technical Assistance Panels (TAPs), providing strategic advice on complex land use and real estate development issues. Our Team provides support to public agencies and nonprofit organizations, and was excited to collaborate with ULI and its membership. Saint Vincent De Paul Society of Los Angeles (SVDPLA) sought advice on two (2) Los Angeles facilities. Saint Vincent De Paul asked our team to provide and define a range of value of the Cardinal Manning Center property, taking into account the real estate/development potential and options for the next 5 years. There was a covenant of running a shelter on the premises expires in 2019, and the group considered the zoning and trends of the Toy District, what would be the potential avenues to pursue with respect to:
- Keeping the site and continuing our current Services and Programs
- Selling the site and investing in the Avenue 21 site or another site
Additionally, the team helped in defining a range of value of the St Vincent De Paul’s headquarters’ property (“Avenue 21”), taking into account the real estate/development potential of the site over the next 5 years and considering the following items:
- What are the potential options to pursue with respect to Avenue 21 in the following scenarios?
- Retain the site and continue current Operations, Services and Programs
- Relocate Operations off site and pursue a variety of development alternatives –What are these potential alternatives that may include developing or leasing the property on a long term basis?
- Would expanding the site into a “SVDPLA Campus” uniting all of our departments into one site offer advantages? What other uses/services could a larger campus accommodate: Housing, Work Force Development, Job Training, Community Center, Medical/Dental Clinic, and Child Care?
- What are the pros/cons of expansion in relationship to the local area’s urban plans when considering the City’s Cornfields Arroyo SecoPlan, The L.A. River Revitalization Plan, and The San Antonio Winery Plan?
- How could our development of our site compliment our neighbors’ future plans and vision over the next five years?
- What are the Federal, State, County and City incentives/funds that can benefit SVDPLA in potentially develop priorities listed above?
The two (2) day effort was thorough, to-the-point and beneficial to Saint Vincent De Paul in developing a 5 year strategic plan.Tags: Alternative Funding Mechanisms, Land Use, Non-profit, Opinion of Value, Real Estate Development, ULI