Kosmont Companies has worked on thousands of public private projects. The following is a limited representative sampling of selected projects. Please contact us for further case studies or experience relevant to your particular project needs.
City of Redondo Beach – Pier Revitalization & Shade Hotel
Kosmont is currently retained by the Harbor Division of the City of Redondo Beach to develop and execute an Asset Management Plan, which included a series of policies for the management and redevelopment of the leaseholds on the 150 acres that comprise the Redondo Beach Pier and surrounding waterfront district. In addition, Kosmont was also retained to establish the highest and best use of the five properties under City control. Kosmont developed recommendations, and provided policy guidance to help encourage business investment, and determine the optimum use and tenant mix for the City and privately controlled properties to achieve revitalization goals. Kosmont was subsequently retained under a second contract to implement our recommendations, which involved the negotiation of multiple leases, financial analysis, coordination of the RFQ processes for undeveloped properties and general transactional support. Kosmont is now in the process of assisting the City in negotiating and financing the development of several keystone properties within the Redondo Beach Pier area including a proposed 8 acre lifestyle retail and office waterfront project with a variety of public amenities and public parking facilities, and the Shade Hotel, which is a new luxury boutique hospitality facility to be developed on land owned by the City pursuant to a ground lease negotiated by Kosmont and City Staff.
City of Norco – Silver Lakes RFQ
Kosmont is retained as the City’s real estate and financial advisor on a variety of properties. Kosmont recently developed an RFQ/P for a 122-acre parcel adjacent to the I-15 corridor. The RFQ/P was approved by the City Council in January 2007, was subsequently circulated to a variety of potential parties and the effort resulted in the identification and selection of a highly desirable developer candidate. Kosmont is currently assisting the City with the negotiation of a development program for the site, and the associated MOI and ground lease, Development Agreement, Funding and Construction Agreement, CEQA and project Conditions of Approval. Kosmont is working directly with the City Attorney in the development of ground lease terms and conditions. Additionally, Kosmont has been retained by the City to help evaluate the value and potential uses of several parcels, and is currently marketing for disposition a commercial parcel.
Boy Scouts of America - Firestone Reservation
Kosmont handled the developer selection process for the Boy Scouts of America's Board of Directors, Los Angeles Area Council, in connection with the Scouts' single largest asset - a 3,700-acre property located in Tonner Canyon known as the Firestone Reservation. This site falls within both Los Angeles and Orange Counties, near the City of Diamond Bar.
Kosmont wrote the RFP for developer selection, helped compile the developers mailing list, screened all developer inquiries in response to the RFP, reviewed developer responses, helped the Boy Scouts' Real Estate Committee select a short list, performed final due diligence regarding the developers' net worth and balance sheets, and conducted interviews with finalist developers.
Los Angeles County Transportation Commission
Metropolitan Transit Authority (MTA)
Los Angeles, California
Kosmont was contracted by the MTA to provide various real estate and development-planning services related to joint development of its transit stations.
Kosmont managed the RFP process and developer selection for various MTA-owned properties. Work scope and process for each included the following tasks: site development potentials planning, commercial and residential market analysis, political and due diligence analysis, formulation of MTA joint development goals, writing and preparation of RFP, evaluation of major master developer proposals, financial analysis of development proformas, estimation of public ground lease and other revenues, preparation of exclusive negotiation agreements, negotiation with developers, and assistance in preparation of development agreements.
Project Summaries:
NOTH HOLLYWOOD TRANSIT STATION
Kosmont provided the above services to the point of developer selection. Kosmont evaluated six major development proposals from national development firms. Projects consisted of mixed-use (office, retail, hotels, residential, and public parking) uses.
UNIVERSAL STUDIO TRANSIT STATION
Kosmont provided the above services from site assessment to the point of developer selection. Project proposals consisted of mixed-use (retail, private school and public parking uses).
WESTLAKE MAC ARTHUR PARK TRANSIT STATION
Kosmont provided the above services from site assessment to the point of developer negotiations. Two project proposals were received, consisting of mixed-use development opportunities (retail, private School, and public parking).
CHATSWORTH METROLIN/MTA BUS TRANSIT STATION
Kosmont provided the above services from site assessment to the point of developer negotiations. Two Project proposals were received, consisting of mixed-use development opportunities (retail, residential, public library, and parking).
Metropolitan Water District of Southern California (MWD) - Headquarters Facility
Kosmont was retained by the Metropolitan Water District of Southern California (MWD) to coordinate the developer selection process for a new, 600,000 square foot headquarters facility, currently located at Union Station in Los Angeles.
Kosmont wrote the RFP for developer selection, helped compile the developers mailing list, screened all developer inquiries in response to the RFP, reviewed all responses, helped the District select a short list, performed financial due diligence on the finalists and conducted interviews along with the MWD Board Real Estate Subcommittee.
City of Goleta – Economic Development Strategic Plan
Kosmont assisted the City of Goleta in preparing an Economic Development Strategic Plan (EDSP). The objective of the Plan was to help the City better understand existing conditions (strengths, weaknesses, opportunities, and threats), guide future economic decisions and actions, and develop realistic and feasible programs for the future. The EDSP is locally based and preserve and enhance the academic and “incubator” environment based upon proximity to the University of California, Santa Barbara. The plan is oriented to help City’s long-term preservation and enhancement of the tax base.
City of Stanton – Economic Development Strategy
Kosmont was selected by public client, Stanton Redevelopment Agency, to assist with Economic Development strategies and an Implementation Plan. Kosmont will evaluate existing conditions in the local economy and provide a retail market survey, identify specific economic development opportunities and market to businesses, build community and stakeholder support, identify incentives for business attraction and retention, develop criteria to assess the future economic development function, etc.
City of Diamond Bar – Economic Development Strategy
Kosmont was originally retained by the City to write a Comprehensive Economic Development Strategy, was subsequently retained by the City to execute that strategy, and served the City as its real estate advisor for approximately five (5) years. Kosmont served as real estate advisor to the City, working on multiple assignments. Kosmont assisted the City with negotiations on behalf of Diamond Bar with a residential developer related to City impact fees and the appropriate level of fees to charge, and also provided pro forma analyses, advice on project processing and zoning matters. In 2005/2006, Kosmont completed financial proformas & negotiation of fees for a Target Center on Diamond Bar Boulevard, which the store is now open and operating
City of Inglewood - Market and Economic Analysis Strategy
Kosmont prepared a comprehensive economic development strategy that included economic analysis, real estate market analysis, and competitiveness analysis for the City of Inglewood. The report provided multi-faceted data and analysis together with a SWOT strategic analysis. Topics covered include:
City of Carson -
Economic Development Strategy
Kosmont provided real estate development and economic planning advisory services for the City of Carson. Kosmont assisted the City in evaluating the Carson Street corridor in terms of identifying potential development opportunities and formulating appropriate economic development, redevelopment, and revitalization strategies. In addition, Kosmont evaluated and provided recommendations to the City of Carson's economic development efforts (i.e., marketing tools, economic development tools, economic development marketing plan, and conducted a City economic development forum).
City of Indio -
Coachella Valley Economic and Market Analysis
Kosmont prepared a comprehensive market and economic analysis for the Coachella Valley. The purpose was to serve as a context and basis for formulating economic development strategies for the City of Indio. The data included property matrices, socio-economics, business inventories by SIC codes, fiscal analysis, and real estate market analysis.
City of Indio Redevelopment Agency -
Downtown Economic Development Strategy
Kosmont prepared an economic revitalization plan for the downtown area of the City of Indio. The analysis included comprehensive physical site analysis, economic analysis, real estate market analysis, site-specific redevelopment concepts, and project specific development recommendations. The plans included proposals for a new civic center, destination entertainment uses, new retail and restaurant uses, extensive rehabilitation, and new residential uses to the area.
City of Placentia – Downtown Parking Structure/TOD Project
Kosmont was retained by City of Placentia/RDA to assist in negotiations with a private developer under an Exclusive Negotiation Agreement (ENA) to construct an urban parking structure. Kosmont evaluated the parking structure and surrounding retail improvements given a proposed Metrolink Train Station and demand from downtown businesses. The assignment entailed the successful procurement of $7.5 million in Recovery Zone Facility Bonds (ARRA bond program) and creation of a public private deal structure.
City of Placentia - Strategic Property Acquisition
Kosmont Realty Corporation (KRC) successfully assisted the Placentia Redevelopment Agency (RDA) in acquiring, through an innovative purchase/leaseback arrangement funded with private investor capital, a privately owned parcel strategically located in the RDA Project Area.
This property was owned by a non-profit community based agency and was not within the RDA's ability to purchase through traditional means. KRC sourced qualified private investors to finance the acquisition and minimize financial exposure to the RDA. In order to achieve certain Redevelopment Plan objectives in Placentia, Kosmont Companies' Dan Cromwell, CCIM negotiated the transaction as a lease to the Redevelopment Agency with an option to buy.
All parties involved benefited as the proceeds of this sale helped a non-profit community based agency and achieved control of this key site for long-term revitalization purposes.
City of South Gate – Recovery Zone Bonds
City of South Gate retained Kosmont Companies for assistance regarding the preparation and submission of a Recovery Zone Facility Bond application for the amount of $50.1 million to assist construction of the proposed 6.08-acre Project ($24.2 in economic development bonds and $25.9 in facility bonds). The site of the proposed Project is located at the northwest corner of Firestone Boulevard and Atlantic Avenue. Anchored by a movie theater, the proposed 125,000 square foot Project, will function as a driver of growth and redevelopment on the eastern side of South Gate.
City of Stanton
City of Stanton retained Kosmont Companies for assistance regarding the preparation and submission of a Recovery Zone Facility Bond application in the amount of $7,439,628 to enable the construction of the Renaissance Plaza retail shopping center. The center is located at the northeast corner of Orangewood Avenue and Beach Boulevard on an approximately 3 acre property owned by the Stanton Redevelopment Agency. The planned Project is composed of a 35,000 square foot shopping center which will be anchored by a neighborhood grocery store. It is the final phase and the “gateway” element of a larger redevelopment project and build-out of the retail component will result in the first mixed-use, pedestrian oriented development in the City. On March 30, 2010, the City of Stanton was allocated $7,439,628 in Recovery Zone Facility Bonds from the County of Orange.
Hopkins Development Company - Shopping Centers
Kosmont served as the developer's advisor for Hopkins Development Company (HDC) in their negotiation for the rehabilitation and redevelopment of shopping centers throughout California. Kosmont utilized a variety of assistance techniques to ensure that the projects were feasible, but without exposing the public sector to undo risk. Assistance techniques included traditional financing methods (land write downs, fee waivers, and public infrastructure), reimbursements (sales tax and tax increment), and more innovative methods (subsidized Mello Roos, asset substitution, and sandwich leases).
Hopkins Development Company - La Mirada Town Center
Kosmont served as the developer's advisor for Hopkins Development Company (HDC) in their negotiation for the rehabilitation and redevelopment of the La Mirada Town Center. This project utilized Mello-Roos financing which was supported by redevelopment agency tax increment to rehabilitate and redevelop an aging, poorly laid out shopping center. After redevelopment, the center was downsized and reoriented and the remaining area was developed as 237 single-family homes. Kosmont advised HDC as to the structuring of the $15 million Mello-Roos bond issue and negotiated with the city and agency on the property tax reimbursements to protect the developer from negative cash flow.
Tishman - Convention Center Hotel
Kosmont served as financial and negotiation advisor for Tishman, the owner of land adjacent to the Staples Center Sports Arena in Los Angeles. Kosmont provided services to evaluate the financial feasibility of developing a major hotel on the client's property. Services included analyzing the amount of public participation required from the City and its Redevelopment Agency to make the project feasible, investigating previous offers of financial participation made to other nearby owners of potential hotel sites, and negotiating the types and amounts of financial and in kind assistance to be given to the client for the hotels.
San Jose Redevelopment Agency -
Adobe Software Corporate Headquarters Relocation
Kosmont served as real estate financial advisor to the San Jose Redevelopment Agency in structuring an incentive program whereby Adobe Software could acquire a site and parking for its new headquarters facility through an initially subsidized ground lease. As a result of Kosmont's efforts, the San Jose City Council approved Adobe's 18-story, 388,000 square foot building, the first major corporate headquarters to be located in the City's billion-dollar downtown revitalization. Two adjacent sites, acquired by eminent domain, were reserved for possible expansion to a second headquarters towers.
Obayashi America Corporation - Convention Center Hotel
Kosmont served as financial and negotiation advisor for Obayashi America Corporation (OAC), the owner of land adjacent to the City of Los Angeles Convention Center expansion. Kosmont provided services to evaluate the financial feasibility of developing a major convention center hotel on the client's property. Services included analyzing the amount of public participation required from the City and its Redevelopment Agency to make the project feasible, investigating previous offers of financial participation made to other nearby owners of potential hotel sites, and researching the types and amounts of financial and in kind assistance given to developers of similar convention hotels in other cities. Given this research, Kosmont provided the client with an evaluation of the various transaction options available for the development or disposition of its property.
Sir Francis Drake – Fiscal and Economic Impact Analysis
Sir Francis Drake Holdings, LP retained Kosmont to perform fiscal and economic impacts and permanent jobs creation analysis, in addition to economic advisory services, in connection with the proposed two-phase mixed-use project titled The Glen at Valley Glen and Plaza in Los Angeles, California. The project includes over 1.1 million square feet of commercial and retail, a 230 room hotel, over 325,000 square feet of residential space, and an integrated transit plaza connecting to the City’s Orange Line. The objective was to estimate the economic and fiscal impacts of the project to the City of Los Angeles and surrounding Los Angeles County, including the estimates of sales tax, business license tax, hotel tax, utility user tax, and property tax revenues that will be generated by the project. The analyses and reports also include local economic fiscal benefit analysis, the estimation of permanent on-site jobs, and the preparation of a summary fiscal impact report.
Los Angeles Community College District – Fiscal and Economic Impact Analysis
Kosmont was retained by LACCD to provide real estate and economic advisory consulting services. LACCD was in the process of issuing bonds for the construction and reconstruction of facilities. To assist in the process, Kosmont prepared a summary report of economic conditions within the City of Los Angeles, a brief analysis of what education programs LACCD could provide which would be in demand and benefit the Los Angeles economy, and an analysis of the fiscal impacts of anticipated construction and development activities that would result should the Bond Measure be approved by the voters. The bond measure was passed in November of 2008.
City of La Puente - Retail Market Analysis
The City of La Puente Redevelopment Agency retained Kosmont Companies to evaluate the demand for a retail use and identify ‘voids’ for specific retailers (“Analysis”) on an approximately 9.8 acres of commercial property. The primary focus of the Analysis is to examine the potential of the Site to support a grocery or discount retail use, and identify specific retailers in these categories that can be attracted to the Site.
City of Norco – Hospitality Demand Analysis
Kosmont is retained as the City’s real estate and financial advisor on a variety of projects.
Kosmont completed a hospitality demand analysis for the City of Norco to assist the City in its process of establishing a hospitality overlay zone within the City. The intention of creating the hospitality zone within the City is to designate an area within the City where hotels, restaurants, and other tourist serving amenities might be located. In order to properly market and attract these tourist serving amenities to the hospitality zone, Kosmont assisted the City in evaluating the potential demand for such amenities. Additionally, Kosmont assisted the City in estimating the potential future demand should certain tourist attracting amenities be developed within the City
City of South Gate – Gateway Urban Decay Study
Gateway (formerly referred to as “El Portal”): This project is a 600,000 square foot 30+ acre regional Promotional and Entertainment Retail Center. Kosmont Companies currently leads public private negotiations on behalf of the City. In addition, Kosmont Companies has developed the developer RFQ and helped the city select a development team and negotiate development agreements. Additionally, the Kosmont and the City are currently negotiating alternative designs and deal structure points, as well as evaluating potential bonding capacity available through tax increment and other public financing structures. Kosmont is leading the City’s efforts to utilize Recovery Zone Bonds, a newly available public financing program pursuant to the American Recovery and Reinvestment Act (ARRA). Kosmont Companies also prepared an Urban Decay Analysis for this project evaluated the local demand for the various types of retail within the proposed project, compared that demand to the available retail amenities within the City and surrounding communities, and estimated the impacts this proposed project might have on local retailers.
City of Pomona Redevelopment Agency -Los Angeles County Fairgrounds
Kosmont performed a fiscal revenue and economic benefits analysis for the City of Pomona Redevelopment Agency with regard to the Paradise Park Redevelopment Project at the Los Angeles County Fairplex in Pomona. Kosmont conducted introductory and follow-up meetings with the Agency and Project Developer, established direct and indirect economic activity from the project, and provided an estimate of fiscal revenues and employment that would be generated by the project both during construction and once the project had been realized. Kosmont was also retained to prepare an alternative fiscal and economic benefits analysis of an alternative project that includes a 7,500-seat sports arena.
ARBA Group - Sunset Plaza
Kosmont was retained by the ARBA Group to conduct an analysis of the economic and fiscal impacts of the proposed Village Center Westwood project located in Westwood Village. The proposed project involves a retail complex anchored by a large 50,000 square foot supermarket with 75,000 square feet of upscale retail, a 46,000 square foot restaurant, a 4,700 seat multiplex cinema and IMAX theater, and 242 units of senior citizen/congregate care.
The analysis included public revenue projections for the City and County of Los Angeles, construction period and permanent job growth projections, and an in-depth analysis of potential spillover effects in the Westwood area. Various projections and anticipated spillover impacts were determined through a comparison of similar entertainment and retail areas in the Southern California area including Santa Monica and Pasadena.
Macerich - Modesto Regional Mall
Kosmont provided economic and fiscal benefit analysis services related to the development of a new theater complex at the regional mall in Modesto, California. The study included field analysis determining the current vacancy for retail space and analyzing current and projected demographic data for the primary and secondary trade areas to determine the overall demand for retail/entertainment facilities. Kosmont also estimated the increased economic activity expected at the mall as a result of the new theater complex, and the increased fiscal revenues to be accrued by the City of Modesto from such economic activity, including property tax, sales tax, gross receipts tax, and utility tax.
Hughes Aircraft, Kilroy Industries, Northrop Corporation Aircraft Division, Rockwell International, and U.S. Airforce - Landowner-Initiated Specific Plan City of El Segundo
Kosmont represented a consortium called "AERO", comprised of aerospace firms in the El Segundo area including Hughes Aircraft, Rockwell International, Northrop Corporation, and Kilroy Industries. Kosmont advised AERO in their ongoing negotiations concerning the City's General Plan update, Interim Zoning Ordinance and other land use regulations as they pertain to AERO's properties (in excess of 400 acres), including transportation, air quality, environmental and public finance issues.
Bicycle Club Casino – Bell Gardens
Kosmont is retained as the Bicycle Casino’s project and financial advisor for an expansion program that will add a 100 to 150 room boutique component adjacent to the existing Casino facility. With Kosmont’s assistance, the Casino is evaluating the expansion program, which included renegotiation of the existing ground leases between the Casino, the City of Bell Gardens, and the Bell Gardens Redevelopment Agency. Kosmont has now successfully concluded the lease negotiations which allows for the Hotel expansion. Kosmont is responsible for providing general project management services, including the evaluation of potential development costs, and entitlement and environmental approvals, and selection of hotel operator.
Bel Air Country Club - 18-Hole Golf Course
Kosmont assisted with preparation of Conditional Use Permit and environmental review of a proposed golf course expansion to include a driving range on currently underutilized Department of Water & Power reservoir property adjacent to Bel Air Country Club. On behalf of the Bel Air Country Club, Kosmont prepared and submitted entitlement applications and environmental clearance documents for a proposed practice golf course adjacent to the existing 18-hole golf course. The practice golf course was proposed on approximately 12 acres of property owned by the Los Angeles DWP and required a conditional use permit (CUP) and environmental review.
Kosmont secured a mitigated negative declaration (MND) environmental clearance and Planning Commission approval of the CUP for the project that minimizes noise and view impacts on adjacent residences and provides additional recreational amenities for Loyola Marymount High School.
Unilever United States and The Horowitz Group -
17-Acre Lawry's California Center
Kosmont worked with the seller, Unilever United States, Inc., to identify qualified buyers and create a land use strategy to allow for redevelopment of the former 17-acre Lawry's California Center office/industrial/restaurant complex after several years of vacancy. Kosmont also worked with the buyer, The Horowitz Group, to create and negotiate a complex land use entitlement strategy given sensitive community issues and the buyer's need for several layers of entitlements, including a zone change, CUPs, variances, and early start approvals.
In 1998, Kosmont secured an expedited approvals process with the City of Los Angeles including a joint public hearing and Mitigation Negative Declaration environmental review, thereby reducing the approval time by six months and reducing project costs by approximately $200,000. The approved project anticipated a 130,000-square foot Home Depot, 49,000-square foot of office space, and preservation of 12,000 square feet of the original Lawry's gardens as a cultural resource for the community.
Northrop Grumman - B-2 Bomber Plant Site
Kosmont assisted in developing a reuse and disposition plan for a 200-acre plant site in the City of Pico Rivera. We provided land use consulting and entitlement services to achieve the maximum value on the property by entitling a large-scale retail/industrial mixed-use project. Kosmont coordinated and managed all planning, engineering, environmental, and design consultants, and represented the client in all negotiations and public hearings before City staff and decision-making bodies.
City of Pomona – Monterey Station
Kosmont assisted the redevelopment agency of the City of Pomona in preparation of an opinion of fair market value and a 33433 report for the proposed Monterey Station development located at 150 East Commercial Street in Pomona. The proposed project was a two phase transit oriented residential development comprised of approximately 600 multifamily units located at the 150 East Commercial Street in Pomona, California. The parcel on which the proposed Project would be developed was owned by the City of Pomona and Developer desired to purchase the property from the City in order to develop the Project. To assist the agency in disposition process, Kosmont prepared an opinion of fair market value and a summary 33433 report for the subject land.
CRA/LA – Nexus Study
Kosmont Companies was retained by CRA/LA to evaluate the feasibility of implementing a linkage fee program in connection with the current update to the Southeast Los Angeles Community Plan. The purpose of the study was to determine if a linkage fee program could provide funding for necessary address the strain on existing city services caused by new development. The fee would be charged to new projects at a rate proportional to their impacts. Kosmont analyzed historical building permit data for Southeast Los Angeles in addition to typical infrastructure impact fees charged in other cities to determine the revenue amount that could be collected from future development.
CRA/LA - Central City East
Kosmont Companies was retained by the Central City East Association (CCEA) with financial assistance from the Los Angeles Community Redevelopment Agency. The assignment objective was to identify the business activity, determine needs and concerns, assess economic and fiscal revenue impacts, and help formulate a strategy to improve the business environment within a prescribed area (Study Area) of the Central City East area of Downtown Los Angeles. The study area is defined as 0.5 square mile divided into two distinct, but contiguous areas within Central City East. These two geographic areas are identical to the Toy and Industrial Business Improvement Districts (BID) boundaries.
City of Lynwood – Vacant Parcel Inventory
Kosmont was retained by the City of Lynwood to prepare an inventory of all parcels within the Lynwood city limits. The City's goal was to identify vacant parcels which could be strategically targeted for redevelopment or acquisition to reduce blight. Kosmont utilized GIS mapping technology to create a master layout for the City which Lynwood could update on a forward-going basis.
Kosmont Companies
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