MXD was retained by FivePoint to prepare a Commercial Market Study and Development Strategy for the Concord Reuse Project (CRP). The CRP is a large master planned project on a former naval weapons station in City of Concord, California, east of San Francisco. The objective was to assess and define the optimal mix of uses for the total development area (2,300 acres) based upon an economic and real estate market analysis. MXD then provided how to competitively position the office, retail, industrial, and hotel components of the project, to differentiate it from other mixed-use and commercial projects in the East Bay region. A phasing strategy was performed to determine which areas of the CRP would be most feasible to initiate commercial development.
Upon the completion of the development program, recommended positioning, and phasing strategy, MXD conducted a detailed financial pro-forma analysis for each real estate component in Phase 1 (500 acres) of the CRP. MXD worked extensively with FivePoint’s financial team to refine the pro forma. Parallel to the financial analysis, MXD team members conducted several workshops with FivePoint and architecture firm Hart Howerton to create an implementable site plan that integrated the optimal commercial development program and phasing strategy. This included detailed site plans for the transit-oriented development next to the Concord/Martinez BART Station, as well as the “Town Center” commercial area.