Strategic Advisory

Century | Urban acts as the strategic development, economic and entitlement advisor to the San Francisco Giants and Tishman Speyer on the world renowned mixed-used development project known as Mission Rock, located south of Oracle Park in San Francisco’s Mission Bay neighborhood. The project is the global world headquarters for Visa within an inclusive community that combines an imaginative array of shops and cafes; a launchpad for local makers and creators; and innovative workplaces, affordable and market-rate apartments, and social amenities. Over a decade in the making, Mission Rock received the San Francisco Business Times’ 2023 Real Estate Deal of the Year.

• Project-level underwriting, economic analysis, calibration of public benefits, transaction structuring, assessing economic feasibility, affordable housing, and negotiating public-private partnership with key stakeholders.
• Economic and entitlement support with project architects, engineers, general contractors and other consultants to maximize project economics and community benefits.
• Preparing IFD horizontal financing plan to fund horizontal project improvements through utilization of land-secured CFD Mello Roos Bonds, pre-paid ground leases and EIFD tax increment financing tools.
• Developed participating ground lease structure and prepared fiscal impact studies for project stakeholders.
• Coordinated competitive developer RFP solicitation process.

Century | Urban acts as the strategic real estate development and financial advisor in regard to the mixed-used development project known as Pier 70 in the Dogpatch sub-market of San Francisco, California. Century | Urban plays an active role with regard to development support related services including, but not limited to, project level underwriting, financial structuring, financing plan, project feasibility, parcel appraisal review, and participating in negotiations with the master developer.

• Analyzing the financial performance of horizontal development as well as vertical residential and commercial projects.
• Evaluating and implementing public and private financing options including tax increment financing through an Infrastructure Financing District (“IFD”) for funding of horizontal infrastructure and public benefits.
• Preparing an Infrastructure Financing Plan (“IFP”) for three sub-project areas within the master-planned project as well as an IFP for a separate Infrastructure and Revitalization Financing District (“IRFD”).

Century | Urban acted as the exclusive strategic development and real estate advisor to a private client that formerly owned a land assemblage commonly known as Harrison at Fourth, which is comprised of approximately 101,900 square feet (2.3-acres) and improved with buildings utilized for industrial purposes. The site is one of the largest remaining development sites in San Francisco located within the Central SOMA area plan that was formally approved by the San Francisco Planning Commission in Q4 2019, resulting in an “upzoning” of the property to accommodate additional commercial density and building heights for commercial office and affordable housing. San Francisco Planning Commission unanimously approved the 14-story project, which includes affordable housing and 820,000 square feet of commercial uses.

• Provided client with transaction structuring support, entitlement oversight, and pre-development services, including programmatic and design review, project level underwriting, financial structuring, and attendant negotiations with key stakeholders.
• Performed economic & underwriting analysis to determine highest and best use and assembled multidisciplinary project team.
• Solicited qualified developers through a competitive RFQ & RFP process with client selection of Boston Properties, Inc., the largest publicly traded office REIT in the United States.
• Assisted private family office for over eight years, and client realized a significant and meaningful financial gain through the firm’s strategic execution and project oversight.

Century | Urban acted as the strategic economic, development and real estate advisor to The Hearst Corporation on the mixed-use development project known as The 5M Project. The proposed project is an arts and community-oriented mixed-use district framed by Mission, Fifth and Howard streets that includes the Chronicle Building, two residential buildings, an office building and public open spaces. Brookfield has completed the 302-unit residential project known as The George and the 25-story commercial tower at 415 Natoma, along with the Parks at 5M. The privately-funded development includes the retention or renovation of three historic buildings, including the San Francisco Chronicle Building, as well as the donation of the Dempster Printing Building to nonprofit arts uses.

• Assisted in negotiation of business terms with development partner to maximize project economics, while maximizing affordable housing and community benefits.
• Provided economic analysis, real estate underwriting and review of strategic alternatives to Hearst with regard to retaining ownership of assets that include the existing Chronicle and Examiner buildings, which will continue to serve as the home of the San Francisco Chronicle newspaper operations.
• Assisted with strategic advisory support in retaining ownership rights to a planned, 400-unit condominium building on the Chronicle and Examiner property.
• Continue to serve as economic and pre-development advisor on construction of a 400-unit, 45-story residential tower.

Century | Urban was engaged by the City of Oakland to provide advisory services related to a proposed master-planned development project adjacent to Jack London Square to be developed through a tri-party public-private partnership with the master developer (the Oakland Athletics), the Port of Oakland and the City. The proposed project included residential, office, retail and hotel uses in addition to a new ballpark and featured a community benefits package with affordable housing components, infrastructure and transportation improvements, and open/green space.

• Preparing a financial pro forma model to analyze project economic performance and public financing strategies including formation of an Enhanced Infrastructure Financing District to assist the City with calibrating community benefits.
• Preparing a fiscal and economic impact analysis to estimate net new fiscal revenue and expenditures as well as economic impact generated as a result of development of the project.
• Drafting an Infrastructure Financing Plan (“IFP”) with 16 project areas, many located in former redevelopment areas necessitating complex calculations to estimate net available tax increment after pass-through payments during the remaining term of the former Redevelopment Agency’s debt obligations.

Century | Urban acts as the strategic economic and development consultant for the development of new campus housing and academic facilities on UC College of the Law, San Francisco’s (“UC Law”, formerly UC Hastings) campus. This includes entitling, designing, and financing identified projects, as well as selecting third-party developers and negotiating public-private partnerships. Century | Urban provides real estate advisory services and strategic economic analysis and underwriting support regarding public and private financing options for the seismic retrofit and repositioning of a historic tower at 100 McAllister Street and the recently completed mixed-use academic and campus housing project at 198 McAllister Street.

• Implementation of an RFQ and RFP process including developer interviews and selection of a developer, Greystar, leading to execution of a development agreement to construct the 198 McAllister project, a tax-exempt bond offering in 2020, and project completion in 2023.
• Supporting project management, assessing financing strategies, reviewing programmatic options, preparing pro forma analysis, financial structuring, and attendant negotiations.