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EmailUrban Redevelopment
As land in urban areas becomes increasingly scarce, property owners are realizing that there are substantial opportunities to create value from redeveloping well-located assets.
In some markets, expanses of asphalt parking lot may offer some of the single largest infill and redevelopment opportunities in the community. In other instances, the recent economic dislocation and attendant vacancies at previously stabilized and well-performing assets have caused owners to take a fresh look for value creation opportunities. Additionally, new opportunities may exist to strategically assemble adjacent properties for future development that were previously unavailable or overlooked by owners and operators naturally focused more on current operations than development potential.
Regardless of the factors driving the need or opportunity for redevelopment, one thing is certain: redeveloping can be a complex undertaking requiring a multidisciplinary approach and an experienced team.
Berger Singerman attorneys represent institutional and private owners in connection with all aspects of urban redevelopment and repositioning, from due diligence, acquisition and entitlement, through construction and re-tenanting. Berger Singerman's multidisciplinary team deploys an integrated and efficient approach to comprehensive owner’s representation through all stages of redevelopment activity.
Project Feasibility and Entitlement
Our experienced team of attorneys can assist owners with implementation of their redevelopment and/or repositioning initiatives from conceptualization to completion, from adding a single new tenant or use to undertaking a comprehensive redevelopment plan. Our attorneys have assisted industry leaders and single asset owners alike to help them deploy creative redevelopment and repositioning initiatives. We have particular experience with mixed use development and understand the intricacies of introducing new uses into an operating asset, including delivering the regulatory reform and entitlements necessary to set the predicate for the project.
Acquisitions and Dispositions
A redevelopment plan may include acquiring a new asset or assembling adjacent properties with an existing property. Berger Singerman attorneys can assist with all facets of land acquisition and disposition—purchase, leasing, or transfer of a single outparcel, or purchase or sale of an operating property or portfolio of properties. Our transactional attorneys include land use and environmental professionals as well as real estate, corporate and business reorganization attorneys who can provide the full range of due diligence and counsel necessary to structure the deal, evaluate the asset(s), and document and close the transaction.
Construction
Whether it is the design or construction contract for a new building or master planned project, or a turnkey fit out for a small retail tenant, our construction attorneys will provide the appropriate support and meet the contractual needs for the task at hand. Disputes with contractors, permitting issues and code compliance matters will also be effectively and efficiently handled to minimize disruption to operations.
Easements, Restrictions and Project Governance
Existing developed real estate assets are often encumbered or governed by a variety of easements, restrictive covenants and other project governance documents. Our real estate and land use attorneys are adept at modifying existing easements and restrictions, and securing new easements and rights as needed to implement the redevelopment program.
Environmental Permitting and Enforcement
Redeveloping an existing property can raise various environmental permitting and enforcement issues, including those pertaining to stormwater management, dewatering, asbestos abatement and hazardous materials. Our attorneys have been statewide leaders in the area of environmental permitting and enforcement matters and several have worked for government agencies. We can advise and assist with the broad range of environmental issues impacting urban redevelopment and operations.
Landlord-Tenant
When executing the redevelopment plan requires tenant relocation or termination, our lawyers can assist with the transaction when outside counsel is desired. When tenant issues require a heavier hand, Berger Singerman's attorneys are effective at fostering tenant compliance both in and outside the courtroom. From short-term leases and licenses to accommodate the new breed of pop-up and short-term tenants, to traditional long-term anchor and small shop leases, our transactional attorneys will deliver prompt turnaround and efficient counsel.
Financing
Redevelopment of an asset can trigger various financing issues. Whether it is facilitating lender consent or a partial release from existing financing, or assisting with construction financing or a new permanent loan, Berger Singerman’s real estate, corporate and finance attorneys are well-equipped to assist owners with all manners of financing, whether asset based or corporate. We also have extensive experience with special district issues and opportunities, including community development (CDD) and other districts.
Regulatory Compliance and Licensing
Locating or relocating hotels, restaurants and certain other uses often has regulatory compliance implications. We can assist with the licensure and permitting requirements of state or local agencies that may be applicable to the ownership or tenants, or can contest a tax valuation or other compliance matter. Several of our attorneys have worked as counsel for government agencies and bring a broad range of experience in federal, state, and local regulatory and compliance matters. We are poised to assist with state agency issues as well as local and regional issues.
Sustainability
State and local regulatory requirements pertaining to mandatory green building certification and building performance continue to emerge. In addition, an increasing number of tenants are requesting or mandating that owners undertake third-party green building certification. Having an established protocol to evaluate the unique issues, risks and opportunities when constructing, renovating, redeveloping, or retrofitting a property makes good business sense. Berger Singerman attorneys are leaders in the green building legal field and can serve in evaluating green building requirements and opportunities, delivering a risk management strategy for the property owner in connection with redevelopment.
