Transitioning your property to innovative mixed-use entertainment, dining, and experienced-based retail development is no small feat. Collectively, EDP has over 50 years of experience in retail, entertainment, hospitality, concept development, project execution, and operations. Since large development projects must integrate with existing assets and influence future development plans, we believe in a research-based, measured, data-driven approach as part of broad-scale master planning. Our feasibility process was developed based on guidelines established by the Urban Land Institute.
THE EDP SEVEN-STEP FEASIBILITY PROCESS IS AS FOLLOWS:
Determine the highest and best use using a data-driven approach
Identify a list of broad-based strategic use categories
Develop a highly curated list of tenant options
Draft architectural concept design
Develop project operating proformas
Determine the optimal financial structure, capital costs, sources and uses
Report to client leadership
EDP feasibility approach identifies the highest and best uses of each project by using a robust platform of web maps, reports, infographics, and data enrichment tools to help understand potential new customers’ lifestyle choices, what they buy, and how they spend their free time.
We can then gain valuable insight for identifying ideal and underserved strategic use categories while avoiding those that are overserved, undesirable, and less profitable. These broad-based categories provide the framework for developing a carefully curated list of tenant options for the project as well as a matrix of best operators in each class. EDP collaborates with our clients every step of the way to transform your vision for your site into revenue-driving reality.