All in the Data
For E. D. Hovee and for our clients, it’s all about the data. What information is needed and what is available to make informed, real-time decisions?
Two types of data are of importance for the economic analyses and strategic plans prepared on behalf of the firm’s clients:
Quantitative demographic, economic and real estate or other industry-specific data from recognized proprietary as well as sources. E. D. Hovee is familiar with and has ready access to the best sources to consider — including an understanding of the strengths and weaknesses of each individual dataset.
On-the-ground localized information as may be gained from one-on-one interviews, focus groups, surveys and/or case studies that E. D. Hovee often conducts. The objective is to obtain factual information and perceptions from those who have a stake in the outcomes of any particular economic development endeavor — and who may bring resources to the table.
An example of the type of in-depth comparative data analysis the firm compiles and provides is illustrated by this map of eight strongly agricultural counties in California’s San Joaquin or Central Valley. The primary cities of these counties range in size from 55,000 to over 1/2 million. Across all eight cities, about 40-55% of the population is Hispanic/Latino.
Based on review of potential data metrics (initially compiled as of 2017), five overall observations were of note:
1) Cities that have prospered economically have done so by extending from and diversifying beyond their initial agricultural strengths — albeit in varied ways.
2) Where available, economically successful communities have taken advantage of their proximity to larger urban centers and/or regional transportation networks.
3) Effective, adaptive local governance, infrastructure and cultural amenities should be considered as elements integral to community and economic vitality.
4) Improving adult educational attainment in these traditionally ag-based communities represents a continuing challenge, particularly for the local Hispanic population.
5) Similarly, narrowing the income gap between the Anglo and Latino population comes across as a factor relevant to continued economic momentum and prosperity.
This case study illustrates the level of detailed data and analysis that E. D. Hovee is able to bring to the table on behalf of its clients. A blog post of this analysis with added detail is provided at:
https://www.edhovee.com/edhblog/2018/7/25/californias-central-valley-guideposts-to-success
Economic Impact
Economic impact analysis is about identifying and quantifying anticipated spending, jobs, payrolls and valuation added with major development projects. EDH has capacity to estimate both the direct on-site effects and the economic multiplier impacts community-wide — for construction and then on-going operations. Also quantified are direct tax revenues anticipated for affected state and local jurisdictions.
Projects evaluated have included:
Renewable energy facilities
(as with the wind farm pictured)Industrial plant investment
(from manufacturing to distribution)Retail development
(especially in states with sales tax)Mixed-use developments
(or whole communities phased-in over a multi-year period)Public facilities
(from transportation and utility infrastructure to sports and convention venues)
Whether with wind farms or other economic impact evaluations, we offer added services that be important for your project application, including:
(a) net present value (NPV) assessment as for projects with significant phasing features;
(b) capacity to address the cost as well as the benefit side of the impact equation; and
(c) characterization plus evaluation of the less readily quantifiable or non-market impacts that also may be of significance to your community.
Independent Feasibility Review
EDH often serves as an independent third party reviewer of market and financial feasibility, most often on behalf of public and non-profit organizations involved in major capital facility projects.
In Portland, due diligence services have involved review of public-private development agreements covering multi-block areas in the City's transformed South Waterfront and Pearl Districts, the renovation of a former armory as the new home of Portland Center Stage, and financial feasibility of affordable and green housing development projects.
Other financial feasibility assessments have involved projects including:
Market and feasibility assessments for mixed use development projects in Portland, Hillsboro, Gresham and Beaverton, Oregon - and in Vancouver, Washington
Restructuring of lease arrangements for an existing amphitheater and potential development of a minor league baseball facility in Vancouver, Washington
Repositioning hotel-motel funding for marketing and event/conference facilities in Wenatchee, Washington
Independent feasibility review often involves consideration of multiple scenarios — including what is planned by the project proponent together with alternative best case and stress test scenarios as may be considered in consultation with the client. In the wake of the current and unprecedented pandemic, it may be that future project feasibility reviews will be accompanied by more stringent stress testing than previously.
On behalf of the Washington State Department of Commerce, in May 2018 EDH completed an independent review of the build-out and operating feasibility of a $1.7 billion planned expansion of the Washington State Convention Center - located in downtown Seattle. Described as "one of the largest capital projects in downtown Seattle's history," construction began as of Summer 2018. In January 2021, the firm completed an updated review of interim financing proposed to enable completion of the now named Summit Addition — addressing lodging tax revenue shortfalls in the wake of COVID pandemic and economic downturn. Now planned for completion in 2022, the nearly 1.5 million square feet facility will add 429,000 square feet of event space - more than doubling the event capacity of the existing convention facility situated one-half block away.
Separately, in 2018 EDH completed an independent feasibility review of a new 25-year lease by the Seattle Mariners major league baseball team for the publicly owned Safeco Field, renamed T-Mobile Park as of December 2018.
EDH has also completed independent reviews for event facilities of the Spokane Public Facilities District - including expansion of the Spokane Convention Center, renovation of the INB Performing Arts Center, new construction of a Spokane indoor Sportsplex (Podium) project opening in the fall of 2021, and planned development of a multi-use stadium in cooperation with the Spokane school district. In 2019, the firm conducted an independent review of planned expansion of the Yakima Convention Center, and a review of improvements to an existing performing arts center in Mount Vernon, Washington was completed in the spring of 2020. And a multi-use stadium review completed in 2022.
To view the Seattle, Spokane and/or Yakima independent financial feasibility reports, click on the following web site link for the Washington State Department of Commerce: PFD Feasibility Reviews
Industrial Development
If there is a bright spot in the current and future post-COVID world, it lies with industrial development. Major drivers of this impetus even through the pandemic have been the growth of internet retailing with attendant warehouse requirements, ever greater needs for internet/cloud data storage, and re-shoring of American manufacturing.
E. D. Hovee has played an active role with industrial development across the Pacific Northwest over the last 3+ decades, as with:
Communities like Quincy WA (pictured) and Hillsboro OR for data center needs.
Semi-conductor manufacturing at multiple sites in the Portland-Vancouver metro region.
Port facility and related development (marine, airport, industrial, mixed use) in Portland and Hood River (OR), together with Tacoma, Vancouver, Washougal, Ridgefield, Longview, and Chelan County (WA)
Private client industrial projects in Portland and Hillsboro (OR) as well as in Clark, Pierce and Grays Harbor Counties (WA).
In 2006, Yahoo! built what was then a state-of the art data center in the small eastern Washington community of Quincy. There are now 12 companies operating 14 data centers in Quincy - due to some of the nation’s least expensive power costs, abundant sites, and redundant fiber optic connections.
LAND USE & ECONOMIC DEVELOPMENT
Economic development — the creation of jobs, incomes, housing and wealth — happens on the ground. On behalf of private developer/investor and public agency clients, E. D. Hovee has been involved in numerous assignments aimed to identify and quantify the land use requirements for industrial, commercial, institutional and residential development.
This analysis is important for land use planning processes and decisions including changes to comprehensive plans and zoning to address short and long-term industry-specific and community priorities. In addition to quantitative analysis, action-oriented and successful planning also is dependent on input from a cross-section of stakeholder interests.
While state and local variations vary widely across the U.S., many jurisdictions have formal processes requiring economic analysis to address issues of need and market viability of existing and emerging land uses appropriate for community consideration. For example, E. D. Hovee has prepared economic opportunities analyses (EOAs) for jurisdictions ranging in size from Portland to small communities in both urban and rural settings. A recent EOA was prepared for Hillsboro as the center of the state’s tech industry —approved by the City as a guide to land use and other supportive policy as of November 2022.
With nearly 21,400 employees as of 2021, Intel is the largest employer in Hillsboro, Oregon and anchor for the #1 semiconductor industry cluster in the U.S. Federal adoption of the CHIPS and Science Act of 2022 provides more than $52 billion in funding for American semiconductor research, development, manufacturing and workforce development. This is in recognition of the reality that only 12% of chips globally are currently manufactured domestically, down from 37% in the 1990s.
The State of Oregon has responded by forming the Oregon Semiconductor Competitiveness Task Force, focused on the opportunity for a world class innovation center organized around priorities for supportive industrial land, incentives, university-industry partnerships, talent and workforce, and environmental regulations.
LIVE/WORK
The emergence of western civilization was accompanied by shop-keepers and craftspeople who lived above or next to where they work. Today, live-work is edging its way back — as a hybrid form offering great solution to changing urban lifestyle and work preferences.
EDH has been at the forefront of the slow-churn live-work revolution. The firm has evaluated prospects in places ranging from Portland's upscale Pearl District to Vancouver, Washington's more mainstream Uptown Village (pictured here). Smaller communities are also beginning to explore this option, though development has been relatively slow to date. Depending on the community, potential impediments include regulatory issues with the mixing of live and work space under one roof together with some hesitancy to endorse the product by the real estate and lending communities.
Entrepreneurs and foot-loose residents no longer want to be tied to place. Well beyond the Great Recession of 2007-09, we are again becoming a nation that values the ability to turn and move "on a dime." And in the aftermath of COVID-19, more individuals who work at home may want a work space clearly delineated from the the residential space.
As a real estate product, live-work can be the perfect solution. Mixing life with work. Offering flexibility for the vicissitudes of an unpredictable universe.
Is this America's future? Maybe or maybe not, but its reasonable to bet that this emerging product will be a bigger part of what is to come.
Instrumental in its development as a public-private partnership, Uptown Village in Vancouver WA for years served as the home and work setting for E. D. Hovee & Company, LLC.
LODGING & Meeting
In addition to Skamania Lodge situated in a National Scenic Area (pictured), EDH has completed market and financial feasiblility analysis for rehabilitation of the Marcus Whitman hotel in historic Walla Walla, market analysis for the Vancouver WA Hilton Conference center and Eola Hills Conference Center near Salem OR.
The firm has prepared independent financial reviews for planned expansions of the Yakima Convention Center, Spokane Convention Center and Washington State Convention Center in Seattle - and for restructuring of lease arrangements with the Sleep Country amphitheater near Vancouver WA. This past year, E. D. Hovee also completed a market analysis for potential expansion of the Wenatchee Convention Center.
And EDH prepares tourism assessments — as for tourism marketing and facilities in the communities of Wenatchee and Ellensburg WA, and Yamhill County in Oregon's wine country.
EDH has conducted market and feasibility studies for signature Pacific Northwest hospitality venues. We were privileged to articulate a new eco-tourism and conference concept and then write the development proposal for Skamania Lodge (pictured above) as a public-private initiative on the Washington state side of the Columbia River Gorge National Scenic Area - on behalf of the firm that also developed Sunriver and Salishan in Oregon.
MAIN STREET REVITALIZATION
Over the last 35 years, firm principal Eric Hovee has assisted with the economic revitalization of downtown and neighborhood commercial areas in communities like West Orange NJ, Goshen IN, Sparta TN, Bethany OK, Hannibal MO, Pierre SD, Encinitas CA and Wenatchee Washington. All told, the firm has worked in 15 communities nationally in addition to a number of Main Street cities in Oregon, Washington and Idaho.
He has had the opportunity to serve as an instructor and speaker on economic restructuring for the National Main Street Center and in towns devastated by Mississippi River flooding on behalf of the National Trust for Historic Preservation.
Successfully done, downtown and neighborhood revitalization is about multi-prong promotion, raising the bar with quality design, sustained organizational capacity, and the “blocking and tackling” needed to be competitive in an ever shifting economic landscape.
Now more than ever, the independent entrepreneurs of America’s main streets are under more pressure than ever due to shutdowns associated with the current coronavirus pandemic. Whether your town is going for the short yardage gain on 4th and two or the Hail Mary pass, we're here to help you stay in the game. Forging the partnership between community aspirations and realistic, supportable market viability.
Like West Des Moines, Iowa (pictured), most every downtown has its Main Street. A little quirky, eclectic, even organic.
The aftermath of COVID-19 may be accompanied by mixed opportunities for America’s Main Streets. Independent urban retail could be adversely affected as large format (e.g. big box) retailers continue to increase their market share as has occurred during the pandemic. Small scale retail will have perhaps better opportunities to rebound in communities more removed from large format competition.
Market Feasibility
The determination of market feasibility hinges on answering two questions:
What is the market for the project or program that is being considered? In other words, if you build it, will they come? Who will come? And at what price?
Is the proposal financially feasible? How will it pencil? Will value upon completion exceed cost? Will operating income exceed expenses? Will cash flow be adequate to pay debt? And is there a return to the equity investor(s)?
Lying behind these two foundational questions is a third question, often overlooked, which is: What are the project risks? And how might these risks be appropriately mitigated? This is a question that looms large at times of economic and financial crisis — as with the current COVID-19 pandemic and more recent recovery.
The pandemic came from a cause unparalleled in American history — a governmentally imposed shutdown due to a health emergency. The speed and severity of the impact is well outside the realm of any similar event previously experienced — with the time frame and extent of eventual recovery as yet unknown. Highlighted is the need for private business and public agencies to better evaluate and account for management of future similar risks — whether from the standpoint of pandemic, international conflict, climate change, or other not easily defined external events.
Rather than specialize with any specific real estate product type, E. D. Hovee’s strengths have resided in high level financial modeling of multiple development scenarios and uses — including stress test analysis — whether for a single building facility or a multi-structure district of varied uses and buildings. The firm’s market-feasibility work also includes emphasis on risk evaluation together with identification of reasonable options for risk mitigation — of utility to the client whether in good times or bad.
And E. D. Hovee brings one added specialty to the table — the capacity to model economic returns for all private and public participants required for the deal to happen .
In this era of a new, new normal, E. D. Hovee remains committed to assisting projects for which there is a clear pathway to market feasibility. In the near-term, that may mean a resurgence of suburban, smaller city and rural area opportunity. In cooperation with interested clients, together we can also anticipate and facilitate a renewed urban renaissance — even if the form proves to be different than anything experienced to date.
As initially conceived, a 125-acre South Waterfront district — situated just south of downtown Portland OR — was planned as one of the largest urban development initiatives in the U.S. As of the late 1990s, plans called for development of an estimated 3,700 high-rise market rate and affordable housing units together with office and institutional space for up to 9,000 jobs at build-out, and supporting retail.
As developed, the district has become an anchor presence for new facilities of the Oregon Health & Science University (OHSU), Portland’s largest employer. E. D. Hovee has provided market and feasibility consulting over a number of years — including evaluation of market demand for residential and office space, financial pro forma evaluations for alternative development prototypes, assessment districts in support of Portland Streetcar line extension and an aerial tram to the existing OHSU campus, and public return on investment analysis.
E. D. Hovee has prepared market feasibility assessments for a wide range of urban development projects in recent years in including:
- High rise mixed used development
- Single & multi-family projects (both market rate & affordable
- Commercial retail & office space
- Lodging & hospitality venues
- Industrial site development
- Cultural & public facilities (arts & interpretive centers, convention & exhibition facilities, major/minor league & specialty sports facilities)
While the focus of this work has been in the urban Pacific Northwest metro markets of Seattle, Portland and Spokane, the firm has also been involved transit-oriented development assignments in Boise, Reno, Anaheim, Santa Ana, Oklahoma City and San Antonio.
Market RAte & Affordable HOusing
EDH has conducted housing market feasibility assignments for both market-rate and affordable housing on behalf of public agency, non-profit and private clients. When possible, the firm looks for mixed-use, mixed-income, and mixed tenure project opportunities to help build diversity of community.
The firm’s geographic reach is focused on the Portland-Vancouver metro region and reaching to selected projects south to Salem, Eugene, Medford, the Oregon coast, and north to the Puget Sound region and eastern Washington including:
Single family subdivisions and larger master planned developments — at both infill and large site suburban locations.
Market-rate apartments with and without mixed use components depending on location, area demographics and market support.
Low income housing tax credit (LIHTC) and bond financed projects including workforce projects — for target markets depending on funding ranging from 30% to 120% of area median income (AMI).
Historic building rehabilitation and reuse projects extending from Officers Row in Vancouver WA to redevelopment of the former Mead-WestVaco multi-story manufacturing facility in St. Joseph MO.
In 2004, EDH conducted an initial feasibility for for an ambitious work force housing project, a proposed 100-unit Headwaters Apartments in SW Portland, featuring green building elements including a daylighted creek on-site — as a Portland City Lights project for workforce housing. In 2012-13, the firm provided an updated assessment of options to address issues of inadequate debt service coverage.
Providing housing across the full spectrum has also been a personal passion for the firm’s principal. For 18 years, Eric Hovee served as commissioner (and chair) of the Vancouver Housing Authority. He currently serves as chair of the affiliated Vancouver Affordable Housing Nonprofit.
Mixed Use
Starting in the early 1990s with residential market analysis to drive a new vision for a neglected warehouse district in what is now known as Portland’s Pearl District, EDH has been involved in reviewing the public-private mixed use financing for redevelopment of the 41-acre Hoyt Street rail yards, evaluating district retail mix, and economic impact analysis associated with streetcar reintroduction as the new fine-grained mode of urban public transport.
Mixed use has since swept the major urban centers of the U.S., reaching into ever smaller community and now suburban settings. EDH understands the dynamics of the mixed-use environment — the demographics, circulation, rents, sales values, and financing. Working with design and construction professionals, we do the market and financial feasibility analysis, informing you as to which options make most sense based on your investment objectives and appetite for risk.
Will this trend to urban density and mixed use be reversed in the years ahead? At least near term, return to lower density suburban and exurban settings may become more appealing — as was already starting to take place with some Millennials who are forming families.
But don’t count the cities and urban neighborhoods out. The long-term trend to urbanization may yet re-assert itself — for cities willing to re-invent the urban cores and adjoining mixed use neighborhoods — with an intensity even greater than before.
Forget Manhattan! Portland's Pearl District (pictured above) has re-defined the American urban neighborhood of the 21st century — at varied scales of density. Where places to work, live, shop, dine and recreate co-habitate together.
PRESERVATION & ADAPTIVE RE-USE
Preserving history is good. Finding economically viable uses for historical structures is even better.
EDH articulated a financially feasible path for redevelopment of the landmark Marcus Whitman Hotel in Walla Walla WA (pictured), when no one else thought it could be done.
EDH also conducted financial due diligence for renovation of an historic armory as the home for Portland Center Stage, the first historic renovation of a performing arts venue in the world to achieve a Platinum LEED Certification.
In Vancouver WA, services have included market and financial feasibility analysis for Officers Row and the Vancouver Barracks - all part of the Fort Vancouver National Reserve Trust.
Principal Eric Hovee has even had a hand in evaluating options for adaptive reuse of historic farm structures in Iowa's Amana Colonies.
Going forward, new trends are making rehabilitation and on-going preservation more challenging than before. So far, the tastes of Millennials appear less attuned to preservation than older generations. As a result, project economics require more emphasis on adaptive reuse, less on preservation purely for its own sake.
A new challenge is added with COVID-19 — to re-design building conveyance and interiors for added social distancing — at least near-term.
Extending back to the 1980s, Principal Eric Hovee has worked with the National Trust for Historic Preservation and its National Main Street Center together with affliliated states across the eastern, mid-western and western U.S. (as with the reuse of Walla Walla’s historic Marcus Whitman Hotel to the glory days of its youth).
REDEVELOPING BROWNFIELDS
For EDH, brownfield redevelopment is not just about restoring a cleaner planet, it's also about the numbers. What will the market support and at what price? If there is a financial gap, how will it be met?
The firm has conducted brownfield economic analysis for sites associated with a Boeing pollution plume near Seattle and with projects in Tacoma, Bellingham, Ridgefield, Spokane and Vancouver - as well as in Portland (illustrated by the graph).
EDH also has prepared an economic and fiscal impact model for the Washington State Department of Ecology to utilize in evaluation of site clean-up and redevelopment feasibility in varied community and property settings. The goal is to move contaminated sites more quickly from blight to achieving the triple bottom line of demonstrated social, environmental, and financial benefits — yielding a reclaimed site and a more sustainable community.
The graph above illustrates our analysis of alternative uses and the land valuation associated with market rate redevelopment of typical contaminated sites for different land uses in Portland OR. The blue end of the ranges indicates positive financial feasibility, the red end is indicative of the magnitude by which redevelopment of properties likely will be financially "underwater" unless outside funding support can also be secured.
RETAIL
Shopping is no longer what it used to be. There are two types of shoppers - those in and out as fast as humanly possible and those out for a leisurely stroll. The goods are either a click or a few footsteps away — the customer is always right.
EDH has been at the business of defining and evaluating ever-changing retail market potentials since the mid-1980s. For downtown, neighborhood, multi-tenant centers, and mixed use shopping.
Smaller, independent businesses were disproportionately affected by governmental shutdowns, many of whom will not recover. And for those who do re-open their doors, it will be to an even more unfamiliar new, new normal.
Yet, there is reason for longer-term optimism. The forces that made for a local shopping and dining ethic are still in place — though temporarily on hold. The independent retailers that make it through will be those attuned to their customers and willing to adapt to meet changing consumer and public preferences — by whatever means necessary.
EDH developed a retail market strategy for the tech haven of Kirkland WA (pictured above). We've done the same for Portland OR's Pearl and NW 23rd Street districts, coastal Santa Cruz and inland Paso Robles (CA), and for the ag-hub of Pasco WA.
EDH has been at the business of defining and evaluating ever-changing retail market potentials since the mid-1980s. For downtown, neighborhood, multi-tenant centers, and mixed use shopping.
Our firm has worked for retail center and in-line developers, for grocery anchored centers (Safeway, Kroger, Walmart, Winco), and for national organizations ranging from the National Main Street Center to a local affiliate of the International Council of Shopping Centers. I am committed to the notion that healthy competition raises the bar for everyone, as long as there is a reasonably level playing field.
STRATEGIC ECONOMICS
EDH looks at market opportunity from the vantage points of what is and what could be. This firm has been been encouraged by our clients to never stop thinking outside the box — whether with new uses for old resources or renewing our urban and rural communities for improved linkages of workers to real jobs.
Principal Eric Hovee prepared one of the nation’s first Comprehensive Economic Development Strategies (CEDS), securing $12 million in federal Economic Development Administration (EDA) funding in the late 1970s. The firm also participated in an EDA-funded program to assess socioeconomic effects of federal land management decisions for 99 counties of the Columbia Basin region spanning portions of the four states of Idaho, Oregon, Montana and Washington.
Strategic planning often puts EDH at the interface between land use planning and economic development, especially here in the Pacific Northwest. The firm has prepared economic opportunity analyses and economic elements for comprehensive plans for places like:
Portland, Beaverton, Hillsboro, McMinnville, and Cascade Locks in Oregon — also Metro as the Portland area metro government.
The counties of Adams, Clark, Jefferson, Kitsap, Lewis, Skagit and cities including Covington, Mount Vernon, Longview and Vancouver in Washington state.
What's this? Yes, it's a minivan sitting on a box. For the non-profit Oregon Forest Resources Institute, EDH looked to U.S. forestry and forest products extending beyond debates of environment vs. economy — addressing topics of forest growth and mortality, forest tourism and emerging opportunities for wood products.Whether with nano-technology or new interest in architectural wood and possible high-rise wood cross-laminated frame structures, wood again emerges as the go-to sustainable materials resource.
Whether conducted for a specific industry such as forestry and forest products or for a community, a state or multi-state region, certain fundamentals prove themselves as integral to project success — both in the evaluation and the subsequent implementation. Foundational stepping stones include:
- An up-front clear understanding of project objectives.
- Deep-dive analysis from both quantitative data sources and qualitative on-the-ground stakeholder perspectives
- Assessment of competitive strengths, weaknesses, opportunities and threats (SWOT).
- Identification of strategic vision and desired outcomes — together with an action plan with implementation responsibilities both short- and long-term.
- Matching implementation requirements with resource availability — including planning, technical assistance, and direct project funding.
- A process for regular monitoring vis-a-vis benchmarked objectives — as a means to assess and make mid-course corrections.
SUSTAINABILITY
A bit of an overworked term, perhaps, but sustainability is about staying in it for the long haul.
Whether it's about recycling household waste, reducing the carbon footprint of the planet, or looking beyond quarterly profits to multi-generational business ownership, sustaining investments are those that prove to meet permanent rather than transient needs and flexible in adapting to an ever-changing external environment.
Yet because decisions are made in the here and now, EDH views sustainability through the lens of net present value (NPV) — the concept that a dollar received today is worth more than a dollar that is not pocketed until 10 years from now.
While the NPV approach favors a short-term horizon in a status quo world, it also rewards those investments that yield ever increasing value over time — whether measured in dollars or in the quality of life for the next generation.
The firm assists with the tools to evaluate those unavoidable trade-offs between choices for immediate vs. long-term gain. That also means a willingness to tackle the tough challenge of quantifying what are often considered as non-market values (as with human health, ecosystem services, recreation, amenities, proximate land values, containment of urban sprawl, social and community values, and passive or non-use values) in defensible monetary terms.
At the end of the day, sustainability is measured not just by monetary NPV but by the quality of the place and the ability to engender human satisfaction — not just for today but for generations to come.
TRANSIT & DEVELOPMENT
A century ago, streetcars served as a catalyst for the development of urban neighborhoods across the U.S. Recent re-introduction reflects a new movement for development oriented transit. A movement that morphs yet again in the post-pandemic setting of a cautious but entrepreneurial return to urban America.
EDH has modeled economic development impacts for planned systems in San Antonio, Oklahoma City, Anaheim, Santa Ana, Boise, Reno, Boise and Portland - including evaluation of carbon footprint savings as compared to the suburban alternative in Portland and Boise.
This experience extends beyond streetcar to encompass the transit-development nexus for light rail (LRT) andbus rapid transit (BRT) systems - as well as downtown transit malls.
And Principal Eric Hovee has served as contributor to the a research report Planning for Transit-Supportive Development: A Practitioner’s Guide – released by the New Jersey Institute of Technology (NJIT) in June 2014 for the Federal Transit Administration (FTA).
In Portland, EDH has retrospectively documented the pivotal role streetcar has played in facilitating a surge of new development within 1-3 blocks of route alignments at urban densities not previously experienced.
YOUR CHOICE
For 35+ years, as firm princiipal I have enjoyed solving problems and framing opportunities for clients from all walks of endeavor. From ship builders to high-rise mixed use developers to Main Street retailers to major event venues to community-focused non-profits to public transport.
As a firm, EDH remains committed to comprehensive, thorough and independent analysis even when the findings may not necessarily be what our client wants to hear. At the same time, my work is always custom-fitted to meet your questions, needs, goals and priorities.
At the end of the day, the customer is always right. Thank you for the privilege to serve.
- Eric Hovee, Principal
Even with economic development, an important part of the business lies with the interaction with our clients and their constituencies. Whether in on-site or virtual meetings, our work is only as good as the give-and-take that comes along.
And all of this is … for results, not ours but yours!
Links to sample project reports are by clicking below on any of the project links as follows:
Washington State Convention Center Independent Feasibility Review
Camas-Washougal Economic Development Strategic Planning
Port Townsend Howard Street Work District Economic Feasibility
Umatilla Highway 305 North Economic Development Planning
McMinnville Economic Opportunities Analysis
