Port-Owned Downtown Waterfront Properties Study
The Port of Kingston was awarded a grant from CERB (Community Economic Revitalization Board) to conduct a Feasibility Study that looks at the development of existing and newly acquired properties located in and around the Port of Kingston. The properties are key to the efforts of the Port to provide a source of economic growth and stability to our historic town, and to play a role in the community development that will lead Kingston towards a bright economic future.
The Port has partnered with Heartland, LLC, a Seattle-based real estate advisory and investment firm, to analyze two of its assets and to provide the Port with viable use options for the subject properties. Heartland’s three phase approach involves a thorough analysis of surrounding development patterns and economic metrics, a comprehensive public outreach campaign, and site alternatives assessments. The results of the study will ultimately provide Heartland with the information needed to offer the Port direction on development strategies, and to determine how to best position the Sites to have a catalytic effect within the local Kingston economy.
Feasibility Study: Heartland’s Methodology
Assemble and study information relating to the Sites through documentation review and stakeholder outreach.
Assess the market drivers and conditions to evaluate the feasibility of a range of potential uses for the Sites that align with the Port’s goals and the market’s likely receptiveness.
Develop a marketing strategy to ensure that the opportunities across the Sites are shared with the most qualified market participants in an effective manner.
Did you miss Heartland LLC’s March 16th presentation on potential development alternatives for our subject properties?
No problem! We’ve got the entire presentation right here so you don’t have to worry about missing a thing.