The Assignment

Promote the Town as a business-friendly destination, guide Town policy in setting up regulations that attract investment, and function as experts on matters of real estate.

Services Provided

  • Examining market conditions for real estate development in East Hartford, Connecticut, focusing on the residential, retail, office, and industrial uses that exist in the Town and trends such as changes in rents, sale prices, vacancy, and the rate of absorption.
  • Identifying and assessing potential deal structures and valuations for redevelopment properties, including an evaluation of any applicable statutory provisions that would impact the ability of the Town to participate in them.
  • Assist the Town in soliciting development proposals and evaluating the value and financial implications of responses from potential development partners, ground lessees, or other stakeholders.
  • Analyzing the implications of exercising different public policy levers on development, including the impact of market-rate and affordable housing, changes to tax abatement programs, and alternative financing structures.
  • Developing narratives to support engagement and negotiations with key stakeholders and attending and participating in meetings with key stakeholders.
  • Supporting the Town in the negotiation of key business terms in its real estate transactions.
  • Evaluating assessed valuations, tax abatements, and tax rates for residential and commercial properties.
  • Preparing revenue forecast reports in connection with development and financing activities and making presentations of such reports.
  • Preparing or assisting in the preparation of feasibility reports, appraisals, and market analyses, or other real estate-related reports.
  • Attending meetings (internal and external) and telephone conferences, as necessary.

Notable Achievements

  • Active participation in the entire Request for Proposals process for a former Showcase Cinema, advertising the now-vacant site and adjacent properties to potential real estate developers.
  • Developed marketing materials to promote the property.
  • Assisted in the selection of a preferred developer.
  • Currently leading negotiations with selected firms.