HomeMy WebLinkAboutEndeavour Corp.-Housing Development Action Plan-12.01.2008 1Q 4Q . 2o off- /o65
Waterloo Iowa
HousingDevelopment
Action Plan
770 N. Milwaukee Street
53202
Milwaukee, Wisconsin
414 431- 0021- Office
414 431-0022- Fax
NEIGHBORHOOD REDEVELOPMENT
SPECIALISTS
Background & Mission
The Endeavour Corp is a real estate development company with a focus on
providing development assistance to entities engaged in urban revitalization and
development. The Endeavour Corp works with communities to identify
development opportunities and implement those opportunities.
Recent Projects
Over the last eight years, the Endeavour Corp has been engaged in over twenty
cities across the country assisting municipalities, community-based organizations
and faith-based institutions in revitalizing their urban neighborhoods or pursuing
real estate development projects. These cities include:
Philadelphia, Pennsylvania Denver, Colorado
Des Moines, Iowa Albany, New York
Washington, D.C. Milwaukee, Wisconsin
Dayton, Ohio Hollywood, Florida
Columbus, Ohio Oakland, California
Rockford, Illinois Kenosha, Wisconsin
Shreveport, Louisiana Atlanta, Georgia
Decatur, Illinois Minneapolis, Minnesota
Mesa, Arizona Fort Wayne, Indiana
Indianapolis, Indiana San Antonio, Texas
Trotwood, Ohio Oklahoma City, OK
The Endeavour Corp is currently involved in a number of retail and residential
development projects ranging in size from $500,000 to $12 million in four states.
Through its experience and capabilities, the Endeavour Corp. brings unique assets
to the development of urban real estate projects. While there are many
organizations doing very good work in developing real estate, none of them have
our unique capacity to bring together non-profit entities and the tools of
development in ways that make deals happen. This unique capacity includes:
• Extensive development experience: The Endeavour Corp has more than two
decades of successful experience in developing commercial real estate. In
total, the principals of the The Endeavour Company have built or redeveloped
more than 1.5 million square feet of commercial real estate and over 300 units
of housing
• Extensive experience working with municipalities and Planners: The
Endeavour Corp has worked closely with Planners to craft "Market Based"
solutions to the problem of urban redevelopment planning. We have also
worked closely with municipalities advising on the implementation of
redevelopment plans.
• Extensive contacts with entities representing the tools of development: The
Endeavour Corp has spent years creating relationships with the entities
representing the tools of development: financing, equity, construction, brokers
and other third-party consultants.
• Understanding of capital markets: The Endeavour Corp has a developer's
understanding of capital markets. This understanding or perspective is critical
in structuring projects and negotiating with financial entities.
• Extensive experience in structuring non-profit or community involvement in
real estate development projects: The Endeavour Corp specializes in
structuring non-profit or community development involvement and ownership
in urban real estate development projects.
CONSULTING PROPOSAL
MARKET-BASED REDEVELOPMENT SERVICES
This consulting proposal will result in three very specific revitalization outcomes:
➢ Identification of residential development opportunities and challenges facing The City of
Waterloo, Iowa.
➢ Identification of the Highest and Best Feasible development project sites
➢ Recommendation of a market-based development plan and a preliminary timetable for its
implementation.
PHASE I: PRELIMINARY DEVELOPMENT ANALYSIS
The Endeavour Corp will perform a preliminary development analysis that will be used to
develop a Development Action Plan. The development analysis will include the following
components:
➢ Examination of market potential;
➢ Determination of supportable residential development based on potential;
➢ Preliminary identification of available project sites and cluster areas;
➢ Identification of financing alternatives for these projects
➢ Preparation of preliminary project pro formas.
> Review of property conditions;
Additionally,the Endeavour Corp's development analysis will identify catalytic locations within
the development planning area. The analysis will be conducted in a manner consistent with that
which the Endeavour Corp conducts its own project development analysis. In other words,the
analysis will be based on a developer's perspective balanced with the planning skills and other
input from the staff of the City of Waterloo,Iowa.
> Review of existing development efforts;
➢ Identification of priority competitive development areas based on market understanding.
➢ Perform site assemblage analysis to identify timing, costs and what challenges assemblage
would face;
> Review of site issues
> Identification of all other development challenges related to the targeted real estate project.
PHASE II: DEVELOPMENT PLAN
The Endeavour Corp will complete a development plan based on the following key principles:
➢ Plan will be based on the market and development analysis.
➢ Plan will include Strategies and tools that will trigger the project.
➢ Plan will recommend an implementation strategy incorporating logical phases and associated
costs and risk assessment.
➢ Plan will include recommendations for the structure, financing, oversight and recruitment of
local ownership teams.
PROPOSAL COST & SCHEDULE
Proposal Cost: $30,000 (plus travel and lodging)
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Travel & Lodging Estimate: $500*
Schedule: 6 months from contract signing
Payment Process: $10,000 due at engagement
$10,000 due 10 days after completion of Phase I
$10,000 due 10 days after Phase II completion
By: By:
Randy Roth, President Tim Hurley, May r
Endeavour Corp City of Waterl
By: C�(
City Clerk k
l 13P Pn m
Approved by the City Council of the City of Waterloo, Iowa this .ard day of November,
2008.
ATTEST
City Clerk
Waterloo, Io a.