Opportunity and vision are nothing without execution.

Development projects inevitably encounter unforeseeable hurdles that can determine success or failure. TBD has executed for some of Florida’s most successful development companies and has a history of overcoming obstacles by understanding complex issues, navigating stakeholder motivations, identifying the right teams and applying resourceful problem-solving strategies. As a development partner, TBD provides hands-on assistance in overcoming the unexpected.

Case Study: Public/Private Negotiations

CSX and Florida Department of Transportation

In the lead development role for a large-scale planned development, TBD principal Beck Daniel faced a city staff condition that required the addition of a secondary means of public ingress and egress. The only viable location would require a public crossing over train tracks owned by CSX, a private entity that universally objects to crossing over its rail lines in order to avoid future liability. Beck assessed the situation and quickly mobilized stakeholders toward the required results. After identifying top counsel in the field, hiring traffic experts, confirming the closure of two off-site public crossings by the city, and soliciting a crossing recommendation from FDOT, Beck and the project took CSX to state court and won the rights to a forced crossing—all without affecting the project timeline or its COs.

Case Study: Creative Cash flow Management

TBD principal Beck Daniel was tasked by a land owner to yield maximum returns from a large parcel of land without the benefits of additional capital or debt. After analyzing current market conditions, he determined that the site was much more valuable in planned parcel components, rather than disposing of it as a whole. Beck then created a phased master plan to set in motion a domino effect: as each parcel was developed, it would add value to future parcels and phases. Beck identified a strong national developer to take down the first parcel, and as part of that closing, negotiated an escrow to fund the infrastructure for the entire first phase of the project. Within a year, the first parcel was under construction and three additional parcels were able to be taken to market as pad ready. Within two years, the land owner had doubled the land value and cashed out their original basis, and no additional capital or debt had been leveraged.

Case study: Creating demand via planning

While programming a new community, TBD principal Beck Daniel recognized that the planned luxury residential product would be hindered by the absence of high-end retail offerings. He determined that upscale retail would be a necessary component of the master plan; however, available parcels lacked many of the traditional dynamics of retail—the upscale new homes were not yet built, and there was no frontage on the adjacent high-traffic thoroughfares. To solve for those problems, Beck decided to make the community a destination in itself by creating a Town Center. He increased walkability by adding landscaped sidewalks, wide waterfront trails, and traffic-calming features, such as parallel parking and a central round-about. After rendering this enhanced design to leverage in residential sales, he identified a well-connected local retail agent and brought her in-house to exclusively market this unique retail offering package. Leasing exceeded expectations in both pace and tenant quality, and in turn, elevated the value and demand for the future residential components of the project.

case study: Condo Conversion logistics

TBD principal Beck Daniel was tasked with executing $42M of renovations during a 475-unit luxury condominium conversion. The goal was to minimize downtime between the loss of in-place rental income and the closings of the renovated condo units. After several meetings with the rental pool and project ownership, Beck devised a plan in which renters had one year to leave their units. The renter-identified priority amenities were left online, and development proceeded with the common area interiors and major systems. Tenant move outs were staggered over time to ensure continued operating cash flows, and incentives were used to throttle move outs of strategic units in order to drive economies of scale for the renovation efforts. The project was a success, very much due to the fact that per-unit downtime between renters and closings averaged less than 35 days, and public relations between development and residents remained positive throughout the process.