EPS provides a research-based assessment of market fundamentals to determine the viability of land use plans and real estate projects. Our market analyses consider all factors affecting real estate demand and supply, including socioeconomic trends, consumer preferences and competition. Our expertise covers the full range of real estate product types, including residential, retail, office, R&D, industrial, hospitality, and entertainment.
EPS helps owners, investors, and developers of distressed real estate properties to understand the current and potential value of a property, and to determine the best course of action regarding repositioning, restructuring, and/or disposition.
EPS evaluates the financial feasibility of real estate development based on analysis of product values, project costs, and investor objectives. Our feasibility work relies on pro forma cash flow models that test a projects’ economic performance based on assumptions related to market, financing, partnership, disposition, and financial return parameters.
EPS highest and best use analyses rely on market research and financial analysis to determine the most profitable use of a site, whether vacant land or an improved property. These studies consider the range of legally permissible and physically possible projects, assessing the likely market and financial performance of each viable land use option.
EPS provides a range of services necessary to fund and build community facilities and capital improvements and provide for their ongoing operation and maintenance. We strive to prepare achievable financing plans that respond to public and private objectives and make creative use of available resources and tools. We also assess the impacts of capital financing alternatives on project feasibility and to support project negotiations and P3 implementation.
EPS offers extensive expertise in the full range of economic and financial services related to formation and funding of Special Tax and Assessment Districts. EPS prepares assessment rates, special tax formulas, hearing reports, and other documents required for a Resolution of Intention, such as the List of Authorized Services.
EPS provides intergovernmental negotiation support related to the formation or reorganization of government entities, including as part of municipal incorporation, annexations, special district formations, and joint powers authority (JPA) formations. EPS typically prepares detailed budget forecasts for the new jurisdiction, provides documentation of alternative organizational options, and estimates impacts on existing entities. EPS also provides technical support to public entities undertaking negotiation of tax sharing agreements.
EPS brings a deep understanding of the statutory requirements and legal considerations, broad public financing issues, economic conditions, and administrative considerations that affect development of new and updated Development Impact Fee programs. EPS combines sound technical work grounded in legally defensible “nexus” arguments with analysis of economic implications, consideration of stakeholder concerns, and guidance on how to best achieve policy objectives.
EPS has decades of experience analyzing tax increment financing (TIF) for a range of infill and redevelopment projects and areas. While enabling legislation varies by state, the firm offers best-in-class services in support of program development, revenue forecasting, financing support services, and policy advisory services.
EPS provides a range of services related to land use planning that are frequently applied during the preparation of General and Comprehensive Plans, Specific Plans, and other subarea plans. In this context we evaluate the socio economic and market factors affecting land use potential, opportunities presented by the regional economy, and strategies to incentivize development and fund infrastructure. We frequently work with urban planning professionals to inform land use planning and policy formation and create feasible implementation programs.
EPS brings deep experience in demographic and economic data sources, analysis, and forecasting. We process and maintain data in-house, stay current with federal and state data releases, and employ advanced demographic and economic forecast modeling for our clients.
EPS prepares socioeconomic data in support of transportation modeling efforts and the development of transportation capital improvement plans (e.g., Regional Transportation Plans). Underlying all transportation modeling efforts is a set of spatial data and assumptions regarding present and future land uses. The socioeconomic and land use data, and the related analysis and forecasting efforts, typically include evaluations of major regional industries and economic trends, population and employment projections and allocation to subareas, and analyses of the relationships between jobs and housing.
EPS helps clients to strategically program land use mix and real estate formats, quantities, and phasing of development within a project site or land use plan, assuring alignment with current and evolving real estate market conditions. EPS commonly works with multidisciplinary team members, including urban designers and civil engineers, either as part of a formal planning process (e.g., Precise Plan, Master Plan) or as part of conceptual, pre-entitlement, and/or due diligence efforts.
EPS understands that real estate development proximate to transit comes with a unique set of opportunities and challenges. The firm commonly works with planning and other professionals to evaluate real estate market potential, financial feasibility, and development strategies for transit oriented communities.
EPS helps plan and implement the redevelopment and adaptive reuse of transitioning areas and properties. Often working with architects, urban design professionals, civil or structural engineers, and others, EPS provides market and project feasibility analysis, infrastructure financing plans, and support for public-private partnerships to deliver comprehensive, and implementable strategies.
EPS assists cities and other public entities seeking to attract investment and grow the local economy. We commonly combine Strengths-Weaknesses-Opportunities-Threats(SWOT) and industry Cluster Analysis with traditional approaches to business attraction/retention and focused stakeholder outreach.
EPS assists cities, downtowns, and other business districts with strategies to promote revitalization, ensure sustainability, and/or stimulate reinvestment in infill areas such as downtown centers and transportation corridors. EPS combines technical rigor and creative problem-solving skills to produce far-looking, ambitious, and achievable recommendations.
EPS prepares retail supply and demand studies (“leakage” analysis) as well as highly tailored strategies for retail districts. Our work accounts for the full range of assets and challenges central to devising a successful retail strategy, including the location-specific attributes of specific sites or neighborhoods and the broader, competitive dynamics of an entire community.
EPS evaluates the impact of land use activity, development, and/or policy changes on municipal budgets. Our fiscal impact models compare the tax and other public revenues generated by specified economic activity (e.g., a proposed land use program) with the cost of public services required to serve this activity. These studies are designed to ensure long-term fiscal sustainability and help our clients fine tune land use programs and/or identify appropriate mitigations for any negative fiscal outcomes.
EPS prepares plans of service and feasibility studies that support proposals for municipal annexation, incorporation, or special district formation. Our work evaluates the method and cost of providing necessary public services to ensure the long-term viability of new or existing governance structures.
EPS evaluates the economic impacts of a wide range of public- and private-sector activities, including operation of public or private institutions (colleges, hospitals, etc.), large land use plans / projects (e.g., wind or solar farms), key industrial sector output, and proposed government programs and regulations. Our work focuses on quantifiable variables (e.g., jobs, contribution to gross domestic product, property values, and sales) and frequently employs Input-Output software models (e.g., IMPLAN, REMI, JEDI) to estimate multiplier effects in the economy.
EPS conducts economic benefit-cost analysis (BCA) to evaluate how a proposed project or regulation impacts the local or regional economy or society more broadly. EPS commonly provides BCA in the assessment of a government program or policy, or as part of a competitive project funding or prioritization process (e.g., the RAISE, formerly called INFRA and TIGER, grant program). We track federal and state guidance concerning economic analysis and have earned a reputation for creative work that conforms to the industry standards but also captures more nuanced economic metrics related to the environment, public health, and quality of life.
EPS works for numerous public- and private-sector clients assessing the strength of housing markets and recommending product types and market positioning that reflects demand and supply trends. EPS conducts such analyses for stand-alone projects as well as large-scale master plans and urban planning policy documents.
EPS supports jurisdictions in completing their Housing Element updates, federally mandated Consolidated Plans, and other citywide or area specific housing development strategies. Specifically, EPS assists with program development through consideration of socioeconomic trends (including gentrification and displacement), market dynamics, financial feasibility, evolving state and federal regulatory requirements, and best practices.
EPS helps prepare strategies and programs that promote affordable housing. For example, EPS evaluates and prepares inclusionary zoning and incentive zoning programs, affordable housing fees, and jobs-housing linkages studies. Through rigorous analysis and stakeholder engagement, we explore the needs and goals for such programs and their implications on project feasibility and overall housing production.
EPS works with both public- and private-sector entities to support public-private negotiations. The firm often tackles these negotiations by defining principles, crafting realistic terms and conditions, and reviewing transaction documents. We strive to integrate well-researched information concerning project economics and regulatory parameters into the negotiation. Our services are commonly used during the negotiation of development agreements, infrastructure financing plans, mitigation measures, land swaps, community benefit agreements, and other entitlement efforts.
EPS supports public sector clients with the recruitment and selection of real estate development partners. Our work commonly includes development feasibility analyses, marketing strategies, RFQ/RFP preparation, developer selection criteria, submittal evaluations (e.g., qualifications and financial due diligence), public policy evaluations, and political considerations.
EPS provides our private sector clients with guidance and technical support services related to Request for Proposal responses and the development of mutually beneficial business terms as a part of contract negotiations. With a balanced practice of public and private sector clients, we are able to assist our private sector clients with messaging, content, and economic rationale that support their position and simultaneously appeals to public sector partners.
EPS funding plans and strategies are integrated to support the appropriate programming and phasing of parks and recreation facilities given available resources. EPS also conducts market analyses for a broad range of park & recreation uses to determine demand, operating budgets, and to support negotiation with concessionaires and other private/nonprofit entities.
EPS evaluates the economic impact and value of parks and open space amenities. For example, the firm monetizes the effect of parks and open space on property values, recreation, public health, and ecosystem services.
EPS develops agricultural preservation and implementation plans for cities, counties, and land trusts. These programs incorporate a range of tools and techniques including agricultural land preservation, financial support, transfer of development rights, clustered development, greenbelts, and buffering from other land uses.
EPS develops financing plans for multi-jurisdictional, multi-species conservation plans consistent with federal and state environmental regulations. Working with joint powers authorities, habitat conservancies, and consulting biologists, EPS develops detailed cost estimates and advises on appropriate funding mechanisms, including the calculation of program fees.
EPS funding plans and strategies are integrated to support the appropriate programming and phasing of parks and recreation facilities given available resources. EPS also conducts market analyses for a broad range of park & recreation uses to determine demand, operating budgets, and to support negotiation with concessionaires and other private/nonprofit entities.
EPS develops agricultural preservation and implementation plans for cities, counties, and land trusts. These programs incorporate a range of tools and techniques including agricultural land preservation, financial support, transfer of development rights, clustered development, greenbelts, and buffering from other land uses.
EPS develops financing plans for multi-jurisdictional, multi-species conservation plans consistent with federal and state environmental regulations. Working with joint powers authorities, habitat conservancies, and consulting biologists, EPS develops detailed cost estimates and advises on appropriate funding mechanisms, including the calculation of program fees.
EPS evaluates the economic impact and value of parks and open space amenities. For example, the firm monetizes the effect of parks and open space on property values, recreation, public health, and ecosystem services.
