Distinguished National Real Estate Group Offers Consulting Expertise in New Orleans Marina Project
Chicago, IL – June 15, 2011 – (RealEstateRama) — The Counselors of Real Estate® (CRE®) Consulting Corps team traveled to New Orleans the week of May 23 at the invitation of the Orleans Levee District Non Flood Protection Asset Management Authority to create a Strategic Plan of Action for re-vitalizing and optimizing the South Shore Harbor Marina. The 450-slip Marina property, which includes two terminal/service buildings, has not been fully restored following damages caused by Hurricane Katrina.
The CRE Consulting Corps is a volunteer public service program that has been lending its expertise in real estate consulting to nonprofit organizations, municipalities and government entities for more than 10 years. Its teams are comprised of CRE members, considered the most experienced real estate advisors worldwide. Project team panels are selected for specialties tailored to the needs of the particular assignment.
The Consulting Corps team met with Louis J. Capo, executive director of the Orleans Levee District Non Flood Protection Asset Management Authority and other representatives; then completed an initial orientation and area tour, followed by several days of interviews, brainstorming and preliminary financial analyses and modeling. A full written report with recommendations will be delivered within 30 days.
About the Project Scope
The CRE Consulting Corps proposal was approved to create a Strategic Plan of Action for re-vitalizing and optimizing the existing marina. The strategic plan will address current design and marketing (and re-marketing) issues, scope of amenities required to attract desired occupancy, prudent funding mechanisms such as millage revenue sharing by the marina to offset required perpetual maintenance (landscape, common area) and security (police) support services, etc. In addition, the proximity impact of the adjacent New Orleans Lakefront Airport will also be considered to identify potential synergies in tenant base that may benefit marina operations and tenancy.
About the CRE Consulting Corps
The CRE Consulting Corps, a public service program created and managed by The Counselors of Real Estate, provides municipalities, not-for-profit organizations, educational institutions and government agencies real estate analysis and action plans that solve clients’ real estate dilemmas and often enhance the property’s performance. Each Consulting Corps project is conducted by a small group of volunteer members whose experience and skill sets are tailored to the specific needs of the client.
The Counselors of Real Estate, established in 1953, is an international group of high profile professionals including members of prominent real estate, financial, legal and accounting firms as well as leaders of government and academia who provide expert, objective advice on complex real property situations and land-related matters. Membership is selective, extended by invitation only. The organization’s CRE (Counselor of Real Estate) credential is awarded to all members in recognition of superior problem solving ability in various areas of real estate counseling. For more information, contact The Counselors of Real Estate, 430 N. Michigan Avenue, Chicago, IL 60611; 312/329.8427; http://www.cre.org
Contact:
Alice Muncaster (312) 329-8430 amuncaster (at) cre (dot) org
